[Federal Register Volume 85, Number 166 (Wednesday, August 26, 2020)]
[Proposed Rules]
[Pages 52755-52757]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16761]
[[Page 52755]]
Vol. 85
Wednesday,
No. 166
August 26, 2020
Part XII
Department of the Treasury
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Semiannual Regulatory Agenda
Federal Register / Vol. 85, No. 166 / Wednesday, August 26, 2020 /
UA: Reg Flex Agenda
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DEPARTMENT OF THE TREASURY
31 CFR Subtitles A and B
Semiannual Agenda
AGENCY: Department of the Treasury.
ACTION: Semiannual regulatory agenda.
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SUMMARY: This notice is given pursuant to the requirements of the
Regulatory Flexibility Act and Executive Order 12866 (``Regulatory
Planning and Review''), which require the publication by the Department
of a semiannual agenda of regulations.
FOR FURTHER INFORMATION CONTACT: The Agency contact identified in the
item relating to that regulation.
SUPPLEMENTARY INFORMATION: The semiannual regulatory agenda includes
regulations that the Department has issued or expects to issue and
rules currently in effect that are under departmental or bureau review.
Beginning with the fall 2007 edition, the internet has been the
primary medium for disseminating the Unified Agenda. The complete
Unified Agenda will be available online at www.reginfo.gov and
www.regulations.gov, in a format that offers users an enhanced ability
to obtain information from the Agenda database. Because publication in
the Federal Register is mandated for the regulatory flexibility agenda
required by the Regulatory Flexibility Act (5 U.S.C. 602), Treasury's
printed agenda entries include only:
(1) Rules that are in the regulatory flexibility agenda, in
accordance with the Regulatory Flexibility Act, because they are likely
to have a significant economic impact on a substantial number of small
entities; and
(2) Rules that have been identified for periodic review under
section 610 of the Regulatory Flexibility Act.
Printing of these entries is limited to fields that contain
information required by the Regulatory Flexibility Act's Agenda
requirements. Additional information on these entries is available in
the Unified Agenda available on the internet.
The semiannual agenda of the Department of the Treasury conforms to
the Unified Agenda format developed by the Regulatory Information
Service Center (RISC).
Michael Briskin,
Deputy Assistant General Counsel for General Law and Regulation.
Customs Revenue Function--Final Rule Stage
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Regulation
Sequence No. Title Identifier No.
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179....................... Enforcement of Copyrights 1515-AE26
and the Digital
Millennium Copyright Act.
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Internal Revenue Service--Proposed Rule Stage
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Regulation
Sequence No. Title Identifier No.
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180....................... Section 42 Low-Income 1545-BO92
Housing Credit Average
Income Test Regulations.
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Internal Revenue Service--Final Rule Stage
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Regulation
Sequence No. Title Identifier No.
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181....................... Guidance on the 1545-BO91
Elimination of Interbank
Offered Rates.
182....................... MEPs and the Unified Plan 1545-BO97
Rule.
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DEPARTMENT OF THE TREASURY (TREAS)
Customs Revenue Function (CUSTOMS)
Final Rule Stage
179. Enforcement of Copyrights and the Digital Millennium Copyright Act
E.O. 13771 Designation: Not subject to, not significant.
Legal Authority: Not Yet Determined
Abstract: This rule amends the U.S. Customs and Border Protection
(CBP) regulations pertaining to importations of merchandise that
violate or are suspected of violating the copyright laws in accordance
with title III of the Trade Facilitation and Trade Enforcement Act of
2015 (TFTEA) and certain provisions of the Digital Millennium Copyright
Act (DMCA).
Timetable:
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Action Date FR Cite
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NPRM................................ 10/16/19 84 FR 55251
NPRM Comment Period End............. 12/16/19 .......................
Final Rule.......................... 01/00/21 .......................
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Charles Steuart, Chief, Intellectual Property
Rights Branch, Department of the Treasury, Customs Revenue Function,
Regulations and Rulings, Office of International Trade, U.S. Customs
and Border Protection, 90 K Street NE, 10th Floor, Washington, DC
20229-1177, Phone: 202 325-0093, Fax: 202 325-0120, Email:
charles.r.steuart@cbp.dhs.gov.
RIN: 1515-AE26
DEPARTMENT OF THE TREASURY (TREAS)
Internal Revenue Service (IRS)
Proposed Rule Stage
180. Section 42 Low-Income Housing Credit Average Income Test
Regulations
E.O. 13771 Designation: Not subject to, not significant.
Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 42
Abstract: The Consolidated Appropriations Act of 2018 added a new
applicable minimum set-aside test under section 42(g) of the Internal
Revenue Code known as the average income test. This proposed regulation
will implement requirements related to the average income test.
Timetable:
[[Page 52757]]
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Action Date FR Cite
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NPRM................................ 07/00/20 .......................
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Dillon J. Taylor, Attorney, Department of the
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room
5107, Washington, DC 20224, Phone: 202 317-4137, Fax: 855 591-7867,
Email: dillon.j.taylor@irscounsel.treas.gov.
RIN: 1545-BO92
DEPARTMENT OF THE TREASURY (TREAS)
Internal Revenue Service (IRS)
Final Rule Stage
181. Guidance on the Elimination of Interbank Offered Rates
E.O. 13771 Designation: Other.
Legal Authority: 26 U.S.C. 1001b and 7805
Abstract: The final proposed regulations will provide guidance on
the tax consequences of the phased elimination of interbank offered
rates (IBORs) that is underway in the United States and many foreign
countries. Taxpayers have requested guidance that addresses whether a
modification to a debt instrument or other financial contract to
accommodate the elimination of the relevant IBOR will be treated as a
realization event for federal income tax purposes.
Timetable:
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Action Date FR Cite
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NPRM................................ 10/09/19 84 FR 54068
NPRM Comment Period End............. 11/25/19 .......................
Final Action........................ 06/00/20 .......................
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Caitlin Holzem, Attorney, Department of the
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room
3547, Washington, DC 20224, Phone: 202 317-7036, Fax: 855 574-9023,
Email: caitlin.i.holzem@irscounsel.treas.gov.
RIN: 1545-BO91
182. MEPS and the Unified Plan Rule
E.O. 13771 Designation: Regulatory.
Legal Authority: 26 U.S.C. 7805; 26 U.S.C. 413
Abstract: These are final regulations relating to the tax
qualification of plans maintained by more than one employer pursuant to
section 413(c) of the Internal Revenue Code, often referred to as
multiple employer plans or MEPs. The regulations provide limited relief
to a defined contribution MEP in the event of a failure by one employer
maintaining the plan to satisfy an applicable qualification requirement
or to provide information needed to ensure compliance with a
qualification requirement. The regulations affect participants in MEPs,
MEP sponsors and administrators, and employers maintaining MEPs.
Timetable:
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Action Date FR Cite
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NPRM................................ 07/03/19 84 FR 31777
NPRM Comment Period End............. 10/01/19 .......................
Final Action........................ 12/00/20 .......................
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jamie Dvoretzky, Attorney, Department of the
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW,
Washington, DC 20224, Phone: 202 317-4102, Fax: 855 604-6087, Email:
jamie.l.dvoretzky@irscounsel.treas.gov.
RIN: 1545-BO97
[FR Doc. 2020-16761 Filed 8-25-20; 8:45 am]
BILLING CODE 9111-14-P; 4810-01-P; 4810-25-P