[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.
------------------------------------------------------------------------
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.
------------------------------------------------------------------------
180.......................  Section 42 Low-Income              1545-BO92
                             Housing Credit Average
                             Income Test Regulations.
------------------------------------------------------------------------


               Internal Revenue Service--Final Rule Stage
------------------------------------------------------------------------
                                                           Regulation
       Sequence No.                    Title             Identifier No.
------------------------------------------------------------------------
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:

------------------------------------------------------------------------
               Action                    Date            FR Cite
------------------------------------------------------------------------
NPRM................................   10/16/19  84 FR 55251
NPRM Comment Period End.............   12/16/19  .......................
Final Rule..........................   01/00/21  .......................
------------------------------------------------------------------------

    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: 
[email protected].
    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
------------------------------------------------------------------------
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: [email protected].
    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
------------------------------------------------------------------------
NPRM................................   10/09/19  84 FR 54068
NPRM Comment Period End.............   11/25/19  .......................
Final Action........................   06/00/20  .......................
------------------------------------------------------------------------

    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: [email protected].
    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  .......................
------------------------------------------------------------------------

    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: 
[email protected].
    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