[Federal Register Volume 66, Number 20 (Tuesday, January 30, 2001)]
[Notices]
[Pages 8257-8258]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-2492]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request for Forms 8038, 8038-G, and 
8038-GC

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning 
Forms 8038, Information Return for Tax-Exempt Private Activity Bond 
Issues, 8038-G, Information Return for Tax-Exempt Governmental 
Obligations, and 8038-GC, Information Return for Small Tax-Exempt 
Governmental Bond Issues, Leases, and Installment Sales.

DATES: Written comments should be received on or before April 2, 2001 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5244, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the forms and instructions should be directed to Martha R. 
Brinson, (202) 622-3869, Internal Revenue Service, room 5244, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:
    Title: Information Return for Tax-Exempt Private Activity Bond 
Issues (Form 8038), Information Return for Tax-Exempt Governmental 
Obligations (Form 8038-G), and Information Return for Small Tax-Exempt 
Governmental Bond Issues, Leases and Installment Sales (Form 8038-GC).
    OMB Number: 1545-0720.
    Form Number: 8038, 8038-G, and 8038-GC.
    Abstract: Issuers of state or local bonds must comply with certain 
information reporting requirements contained in Internal Revenue Code 
section 149 to qualify for tax exemption. The information must be 
reported by the issuers about bonds issued by them during each 
preceding calendar quarter. Forms 8038, 8038-G, and 8038-GC are used to 
provide the IRS with the information required by Code section 149 and 
to monitor the requirements of Code sections 141 through 150.
    Current Actions: There are no changes being made to the forms at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: State, local or tribal governments and not-for-
profit institutions.
    Estimated Number of Respondents: 14,500.
    Estimated Time Per Respondent: 17 hr., 39 min.
    Estimated Total Annual Burden Hours: 255,871.
    The following paragraph applies to all of the collections of 
information covered by this notice:

[[Page 8258]]

    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Books or records 
relating to a collection of information must be retained as long as 
their contents may become material in the administration of any 
internal revenue law. Generally, tax returns and tax return information 
are confidential, as required by 26 U.S.C. 6103.

Request for Comments

    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments will 
become a matter of public record. Comments are invited on: (a) Whether 
the collection of information is necessary for the proper performance 
of the functions of the agency, including whether the information shall 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the collection of information; (c) ways to enhance the 
quality, utility, and clarity of the information to be collected; (d) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of automated collection 
techniques or other forms of information technology; and (e) estimates 
of capital or start-up costs and costs of operation, maintenance, and 
purchase of services to provide information.

    Approved: January 22, 2001.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 01-2492 Filed 1-29-01; 8:45 am]
BILLING CODE 4830-01-P