[Federal Register Volume 80, Number 193 (Tuesday, October 6, 2015)]
[Notices]
[Pages 60366-60367]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-25331]


-----------------------------------------------------------------------

DEPARTMENT OF COMMERCE

National Oceanic and Atmospheric Administration


Proposed Information Collection; Comment Request; Interim Capital 
Construction Fund Agreement, Certificate Family of Forms and Deposit/
Withdrawal Report

AGENCY: National Oceanic and Atmospheric Administration (NOAA), 
Commerce.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Department of Commerce, 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.

DATES: Written comments must be submitted on or before December 7, 
2015.

ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6616, 14th 
and Constitution Avenue NW., Washington, DC 20230 (or via the Internet 
at [email protected]).

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument and instructions should 
be directed to Richard VanGorder at (301)427-8784 or 
[email protected].

SUPPLEMENTARY INFORMATION: 

I. Abstract

    This request is for extension of a currently approved information 
collection.
    Respondents will be commercial fishing industry individuals, 
partnerships, and corporations which entered into Capital Construction 
Fund (CCF) agreements with the Secretary of Commerce allowing deferral 
of Federal taxation on fishing vessel income deposited into the fund 
for use in the acquisition, construction, or reconstruction of fishing 
vessels. Deferred taxes are recaptured by reducing an agreement 
vessel's basis for depreciation by the amount withdrawn from the fund 
for its acquisition, construction, or reconstruction. The interim 
Capital Construction Fund Agreement and Certificate Family of Forms is 
required pursuant to 50 CFR part 259.30 and Public Law 99-514 (The Tax 
Reform Act, 1986). The deposit/withdrawal information collected from 
agreement holders is required pursuant to 50 CFR part 259.35 and Pub L. 
99-514. The information collected from applicants for the Interim CCF 
Agreement is used to determine their eligibility to participate in the 
CCF Program. The information collected from agreement holders for the 
Certificate Family of Forms is used to identify their program eligible 
vessels, their program projects and to certify the cost of a project at 
completion. The information collected on the deposit/withdrawal report 
form is required to ensure that agreement holders are complying with 
fund deposit/withdrawal requirements established in program regulations 
and properly accounting for fund activity on their Federal income tax 
returns. The information collected on the deposit/withdrawal report 
must also be reported semi-annually to the Secretary of Treasury in 
accordance with the Tax Reform Act.

[[Page 60367]]

II. Method of Collection

    The information will be collected on forms submitted electronically 
or by mail.

III. Data

    OMB Control Number: 0648-0041.
    Form Numbers: NOAA Form 34-82, NOAA Form 88-14.
    Type of Review: Regular submission (extension of a current 
information collection).
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 3,000.
    Estimated Time per Response: NOAA Form 34-82, 20 minutes;
    NOAA Form 88-14, 3.5 hours for agreements and 1 hour for 
certificate.
    Estimated Total Annual Burden Hours: 2,917.
    Estimated Total Annual Cost to Public: $15,320 in recordkeeping/
reporting costs.

IV. Request for Comments

    Comments are invited on: (a) Whether the proposed 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 
(including hours and cost) of the proposed collection of information; 
(c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (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.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

    Dated: September 30, 2015.
Sarah Brabson,
NOAA PRA Clearance Officer.
[FR Doc. 2015-25331 Filed 10-5-15; 8:45 am]
 BILLING CODE 3510-22-P