Notice2021-28189
Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; Capital Construction Fund Agreement, Certificate Family of Forms and Deposit/Withdrawal Report.
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 28, 2021
Issuing agencies
Commerce DepartmentNational Oceanic and Atmospheric Administration
Abstract
The Department of Commerce, in accordance with the Paperwork Reduction Act of 1995 (PRA), invites the general public and other Federal agencies to comment on proposed, and continuing information collections, which helps us assess the impact of our information collection requirements and minimize the public's reporting burden. The purpose of this notice is to allow for 60 days of public comment preceding submission of the collection to OMB.
Full Text
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<title>Federal Register, Volume 86 Issue 246 (Tuesday, December 28, 2021)</title>
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[Federal Register Volume 86, Number 246 (Tuesday, December 28, 2021)]
[Notices]
[Page 73742]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-28189]
[[Page 73742]]
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DEPARTMENT OF COMMERCE
National Oceanic and Atmospheric Administration
Agency Information Collection Activities; Submission to the
Office of Management and Budget (OMB) for Review and Approval; Comment
Request; Capital Construction Fund Agreement, Certificate Family of
Forms and Deposit/Withdrawal Report.
AGENCY: National Oceanic & Atmospheric Administration (NOAA), Commerce.
ACTION: Notice of information collection, request for comment.
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SUMMARY: The Department of Commerce, in accordance with the Paperwork
Reduction Act of 1995 (PRA), invites the general public and other
Federal agencies to comment on proposed, and continuing information
collections, which helps us assess the impact of our information
collection requirements and minimize the public's reporting burden. The
purpose of this notice is to allow for 60 days of public comment
preceding submission of the collection to OMB.
DATES: To ensure consideration, comments regarding this proposed
information collection must be received on or before February 28, 2022.
ADDRESSES: Interested persons are invited to submit written comments to
Adrienne Thomas, NOAA PRA Officer, at <a href="/cdn-cgi/l/email-protection#84cacbc5c5aad4d6c5c4eaebe5e5aae3ebf2"><span class="__cf_email__" data-cfemail="db95949a9af58b899a9bb5b4babaf5bcb4ad">[email protected]</span></a>. Please
reference OMB Control Number 0648-0041 in the subject line of your
comments. Do not submit Confidential Business Information or otherwise
sensitive or protected information.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
specific questions related to collection activities should be directed
to Richard VanGorder, Financial Assistance Specialist, NOAA/NMFS/F/MB5,
1315 East-West Highway, Room 13113, Silver Spring, MD 20910, (301) 427-
8784, or <a href="/cdn-cgi/l/email-protection#7f2d161c171e0d1b51291e1138100d1b1a0d3f11101e1e51181009"><span class="__cf_email__" data-cfemail="99cbf0faf1f8ebfdb7cff8f7def6ebfdfcebd9f7f6f8f8b7fef6ef">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
I. Abstract
This request is for a revision and extension of a currently
approved information collection.
The Merchant Marine Act of 1936, as amended by Public Law 91-469
and Public Law 99-514, provides for the administration of a Capital
Construction Fund (CCF) Program by NOAA's National Marine Fisheries
Service (NMFS). The law requires that applicants enter into formal
Agreements with the Secretary of Commerce. The Agreement allows the
fishermen to defer taxable income from operation of their fishing
vessels if the money is placed into an account to fund the
construction, reconstruction, or replacement of a fishing vessel. The
program requirements are detailed at 50 CFR part 259. The Agreement is
a contract between the Secretary of Commerce and the Agreement holder
specifying the obligations of each party. Schedule A specifies the
vessel which earned the income which is eligible for deposit in to a
CCF account. Schedule B specifies the construction, acquisition, or
reconstruction objectives planned under the Agreement. The Certificate
of Construction/Reconstruction certifies the total cost at completion
of Schedule B objectives.
Under a Capital Construction Fund (CCF) Agreement, the participant
cannot deposit more than the amount specified at 46 U.S.C. 53505. NMFS
must approve any withdrawals made before they take place. It is
essential that a reasonably detailed record be kept of each
participant's deposit/withdrawal activity. If withdrawn monies are not
used for allowed purposes, the withdrawn amount (a nonqualified
withdrawal) is considered income to the participant in the year
withdrawn and taxed at the highest marginal tax rate for the entity
involved.
Respondents will be commercial fishing industry individuals,
partnerships, and corporations which entered into Capital Construction
Fund (CCF) agreements with the Secretary of Commerce. The information
collected from applicants for the CCF Agreement (NOAA Form 88-14) 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
(NOAA Form 34-82) 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 Public Law 115- 97.
NMFS is proposing to add an additional form to the Certificate of
Family Forms, the Schedule of Tax Basis, which is required upon
completion of a Schedule B project in order to determine the remaining
tax basis of the qualified vessel.
II. Method of Collection
The information will be collected on forms submitted electronically
or by mail.
III. Data
OMB Control Number: 0648-0041.
Form Number(s): NOAA Form 34-82, NOAA Form 88-14.
Type of Review: Regular submission (Revision and extension of a
current information collection).
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 1,600.
Estimated Time per Response: NOAA Form 34-82, 3.5 hours; NOAA Form
88-14, 30 minutes; and 2.5 hours for the Certificate Family of Forms
(includes Fishing Vessel CCF Application, Schedule A, Schedule B,
Schedule of Tax Basis, and Certificate of Construction/Reconstruction).
Estimated Total Annual Burden Hours for Respondents: 4,963 hours.
Estimated Total Annual Cost for Respondents: $4,419 in
recordkeeping/reporting costs.
Respondent's Obligation: Required to obtain or retain benefits.
Legal Authority: 46 U.S.C. 535, Public Law 115- 97 and 50 CFR part
259
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.
Sheleen Dumas,
Department PRA Clearance Officer, Office of the Chief Information
Officer, Commerce Department.
[FR Doc. 2021-28189 Filed 12-27-21; 8:45 am]
BILLING CODE 3510-22-P
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