[Federal Register Volume 81, Number 22 (Wednesday, February 3, 2016)]
[Notices]
[Page 5715]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-01983]


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DEPARTMENT OF COMMERCE

National Oceanic and Atmospheric Administration


Submission for OMB Review; Comment Request

    The Department of Commerce will submit to the Office of Management 
and Budget (OMB) for clearance the following proposal for collection of 
information under the provisions of the Paperwork Reduction Act (44 
U.S.C. Chapter 35).
    Agency: National Oceanic and Atmospheric Administration (NOAA).
    Title: Interim Capital Constructions Fund Agreement, Family of 
Forms, Certification and Deposit/Withdrawal Report.
    OMB Control Number: 0648-0041.
    Form Number(s): NOAA Forms 34-82 and 88-14.
    Type of Request: Regular (extension of a currently approved 
information collection).
    Number of Respondents: 1,445.
    Average Hours per Response: Deposit/withdrawal form, 20 minutes; 
application for program benefits, 3 hours and 30 minutes; certificate, 
1 hour.
    Burden Hours: 2,732.
    Needs and Uses: 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vessel's basis for depreciation by the amount withdrawn from the fund 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 P.L. 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 P.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.
    Affected Public: Businesses or other for-profit organizations.
    Frequency: One time only, annually and on occasion.
    Respondent's Obligation: Required to obtain or retain benefits.
    This information collection request may be viewed at reginfo.gov. 
Follow the instructions to view Department of Commerce collections 
currently under review by OMB.
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to [email protected] or fax to (202) 395-5806.

    Dated: January 29, 2016.
Sarah Brabson,
NOAA PRA Clearance Officer.
[FR Doc. 2016-01983 Filed 2-2-16; 8:45 am]
BILLING CODE 3510-22-P