[Federal Register Volume 82, Number 103 (Wednesday, May 31, 2017)]
[Notices]
[Pages 25047-25048]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-11118]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Collection; Comment Request For Regulation Project

AGENCY: Internal Revenue Service, 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. Currently, the IRS is soliciting 
comments concerning procedure for monitoring compliance with low-income 
housing credit requirements; rules to carry out the purposes of section 
42 and for correcting administrative errors and omissions; and 
compliance monitoring and miscellaneous issues relating to the low-
income housing credit.

DATES: Written comments should be received on or before July 31, 2017 
to be assured of consideration.

ADDRESSES: Direct all written comments to Laurie Brimmer, Internal 
Revenue Service, Room 6526, 1111 Constitution Avenue NW., Washington, 
DC 20224. Requests for additional information or copies of the 
regulations should be directed to LaNita Van Dyke, at Internal Revenue 
Service, Room 6526, 1111 Constitution Avenue NW., Washington DC 20224, 
or through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: TD 8521, Procedure for Monitoring Compliance With Low-Income 
Housing Credit Requirements; TD 8859, Rules To Carry Out the Purposes 
of Section 42 and for Correcting Administrative Errors and Omissions; 
and REG-114664-97, Compliance Monitoring and Miscellaneous Issues 
Relating to the Low-Income Housing Credit.
    OMB Number: 1545-1357.
    Regulation Project Numbers: TD 8521; TD 8859; and REG-114664-97.
    Abstract: TD 8521 This regulation requires state allocation plans 
to provide a procedure for state and local housing credit agencies to 
monitor for compliance with the requirements of Code section 42 and 
report any noncompliance to the IRS. 8859 This regulation concerns the 
Secretary of the Treasury's authority to provide guidance under Code 
section 42 and

[[Page 25048]]

allows state and local housing credit agencies to correct 
administrative errors and omissions made in connection with allocations 
of low-income housing credit dollar amounts and recordkeeping within a 
reasonable period after their discovery. REG-114664-97 This regulation 
amends the procedures for state and local housing credit agencies' 
compliance monitoring and the rules for state and local housing credit 
agencies' correction of administrative errors or omissions.
    Current Actions: There is no change to these existing regulations.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations, 
individual or households, not-for-profit institutions, and state, local 
or tribal governments.
    Estimated Number of Respondents: 22,055.
    Estimated Time per Respondent: 4 hours, 45 minutes.
    Estimated Total Annual Burden Hours: 104,899.
    The following paragraph applies to all of the collections of 
information covered by this notice:
    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: May 24, 2017.
Laurie Brimmer,
Senior Tax Analyst.
[FR Doc. 2017-11118 Filed 5-30-17; 8:45 am]
 BILLING CODE 4830-01-P