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Proposed Rule2024-00445

Semiannual Agenda

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Published

February 9, 2024

Issuing agencies

Treasury Department

Abstract

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.

Full Text

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[Federal Register Volume 89, Number 28 (Friday, February 9, 2024)]
[Proposed Rules]
[Pages 9626-9630]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-00445]

[[Page 9625]]

Vol. 89

Friday,

No. 28

February 9, 2024

Part XIV

Department of the Treasury

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Semiannual Regulatory Agenda

Federal Register / Vol. 89 , No. 28 / Friday, February 9, 2024 / UA:
Reg Flex Agenda

[[Page 9626]]

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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.

-----------------------------------------------------------------------

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.
The complete Unified Agenda will be available online at
<a href="http://www.reginfo.gov">www.reginfo.gov</a> and <a href="http://www.regulations.gov">www.regulations.gov</a>, 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.

Bureau of the Fiscal Service--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
416....................... Revision of the Federal 1530-AA29
Claims Collection
Standards (31 CFR Parts
900-904) (Section 610
Review).
------------------------------------------------------------------------

Financial Crimes Enforcement Network--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
417....................... Section 6101. 1506-AB52
Establishment of National
Exam and Supervision
Priorities.
418....................... Residential Real Estate 1506-AB54
Transaction Reports and
Records.
419....................... Revisions to Customer Due 1506-AB60
Diligence Requirements
for Financial
Institutions.
420....................... Commercial Real Estate 1506-AB61
Transaction Reports and
Records.
------------------------------------------------------------------------

Financial Crimes Enforcement Network--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
421....................... Beneficial Ownership 1506-AB59
Information Access and
Safeguards.
------------------------------------------------------------------------

Financial Crimes Enforcement Network--Long-Term Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
422....................... Amendments to the 1506-AB36
Definition of Broker or
Dealer in Securities
(Crowd Funding).
423....................... Clarification of the 1506-AB41
Requirement to Collect,
Retain, and Transmit
Information on
Transactions Involving
Convertible Virtual
Currencies and Digital
Assets With Legal Tender
Status.
424....................... Requirements for Certain 1506-AB47
Transactions Involving
Convertible Virtual
Currency or Digital
Assets.
425....................... Section 6110. Bank Secrecy 1506-AB50
Act Application to
Dealers in Antiquities
and Assessment of Bank
Secrecy Act Application
to Dealers in Arts.
426....................... Section 6212. Pilot 1506-AB51
Program on Sharing of
Information Related to
Suspicious Activity
Reports Within a
Financial Group.
------------------------------------------------------------------------

Customs Revenue Function--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
427....................... Entry of Low-Value 1515-AE84
Shipments.
------------------------------------------------------------------------

[[Page 9627]]

Customs Revenue Function--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
428....................... Enforcement of Copyrights 1515-AE26
and the Digital
Millennium Copyright Act.
------------------------------------------------------------------------

Internal Revenue Service--Completed Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
429....................... Guidance on the 1545-BO91
Elimination of Interbank
Offered Rates.
430....................... Additional Guidance on Low- 1545-BQ81
Income Communities Bonus
Credit Program.
------------------------------------------------------------------------

DEPARTMENT OF THE TREASURY (TREAS)

Bureau of the Fiscal Service (FISCAL)

Proposed Rule Stage

416. Revision of the Federal Claims Collection Standards (31 CFR Parts
900-904) (Section 610 Review) [1530-AA29]

Legal Authority: 31 U.S.C. 3711
Abstract: The Department of Justice jointly with the Department of
the Treasury will revise the Federal Claims Collection Standards to
address statutory changes and to improve clarity of existing
regulations.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 11/00/23
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: No.
Agency Contact: Michelle Cordeiro, Senior Counsel, Department of
the Treasury, Bureau of the Fiscal Service, 401 14th Street SW,
Washington, DC 20227, Phone: 202 874-6680, Email:
<a href="/cdn-cgi/l/email-protection#bed3d7ddd6dbd2d2db90ddd1ccdadbd7ccd1fed8d7cddddfd290caccdbdfcdcbccc790d9d1c8">[email&#160;protected]</a>.
RIN: 1530-AA29

BILLING CODE 4810-AS-P

DEPARTMENT OF THE TREASURY (TREAS)

Financial Crimes Enforcement Network (FINCEN)

Proposed Rule Stage

417. Section 6101. Establishment of National Exam and Supervision
Priorities [1506-AB52]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a notice of proposed rulemaking
as part of the establishment of national exam and supervision
priorities. The proposed rule implements section 6101(b) of the Anti-
Money Laundering Act of 2020 that requires the Secretary of the
Treasury to issue and promulgate rules for financial institutions to
carry out the government-wide anti-money laundering and countering the
financing of terrorism priorities (AML/CFT Priorities). The proposed
rule: (i) incorporates a risk assessment requirement for financial
institutions; (ii) requires financial institutions to incorporate AML/
CFT Priorities into risk-based programs; and (iii) provides for certain
technical changes. Once finalized, this proposed rule will affect all
financial institutions subject to regulations under the Bank Secrecy
Act that have AML/CFT program obligations.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 03/00/24
NPRM Comment Period End............. 05/00/24
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#d0b6a2b390b6b9beb3b5befeb7bfa6">[email&#160;protected]</a>.
RIN: 1506-AB52

418. Residential Real Estate Transaction Reports and Records [1506-
AB54]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a notice of proposed rulemaking
to address money laundering vulnerabilities in the U.S. residential
real estate sector.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 12/08/21 86 FR 69589
ANPRM Comment Period End............ 02/07/22
NPRM................................ 02/00/24
NPRM Comment Period End............. 04/00/24
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#ff998d9cbf9996919c9a91d1989089">[email&#160;protected]</a>.
RIN: 1506-AB54

419. Revisions to Customer Due Diligence Requirements for Financial
Institutions [1506-AB60]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a notice of proposed rulemaking
entitled ``Revisions to Customer Due Diligence Requirements for
Financial Institutions,'' relating to Section 6403(d) of the Corporate
Transparency Act (CTA). Section 6403(d) of the CTA requires FinCEN to
revise its customer due diligence requirements for financial
institutions to account for the changes created by the beneficial
ownership information reporting and access requirements set out in the
CTA.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 06/00/24
NPRM Comment Period End............. 08/00/24
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#385e4a5b785e51565b5d56165f574e">[email&#160;protected]</a>.
RIN: 1506-AB60

[[Page 9628]]

420. Commercial Real Estate Transaction Reports and Records [1506-AB61]

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 09/00/24
NPRM Comment Period End............. 11/00/24
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 2218, Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#c4a2b6a784a2adaaa7a1aaeaa3abb2">[email&#160;protected]</a>.
RIN: 1506-AB61

DEPARTMENT OF THE TREASURY (TREAS)

Financial Crimes Enforcement Network (FINCEN)

Final Rule Stage

421. Beneficial Ownership Information Access and Safeguards [1506-AB59]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a final rule entitled
``Beneficial Ownership Information Access and Safeguards.'' The final
rule will establish protocols to protect the security and
confidentiality of the beneficial ownership information (BOI) that will
be reported to FinCEN pursuant to the Bank Secrecy Act, as amended by
Section 6403(a) of the Corporate Transparency Act, and will establish
the framework for authorized recipients' access to the BOI reported.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/16/22 87 FR 77404
NPRM Comment Period End............. 02/14/23
Final Action........................ 12/00/23
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Department of
the Treasury, Financial Crimes Enforcement Network, P.O. Box 39,
Vienna, VA 22183, Phone: 800 767-2825, Email: <a href="/cdn-cgi/l/email-protection#c9afbbaa89afa0a7aaaca7e7aea6bf">[email&#160;protected]</a>.
RIN: 1506-AB59

DEPARTMENT OF THE TREASURY (TREAS)

Financial Crimes Enforcement Network (FINCEN)

Long-Term Actions

422. Amendments to the Definition of Broker or Dealer in Securities
(Crowd Funding) [1506-AB36]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5332
Abstract: FinCEN is finalizing amendments to the regulatory
definitions of ``broker or dealer in securities'' under the regulations
implementing the Bank Secrecy Act. The changes are intended to expand
the current scope of the definitions to include funding portals
involved in the offering or selling of securities through crowdfunding
pursuant to section 4(a)(6) of the Securities Act of 1933. In addition,
these amendments would require funding portals to implement policies
and procedures reasonably designed to achieve compliance with all of
the Bank Secrecy Act requirements that are currently applicable to
brokers or dealers in securities. The rule to require these
organizations to comply with the Bank Secrecy Act regulations is
intended to help prevent money laundering, terrorist financing, and
other financial crimes.
Note: This is not a new requirement; it replaces RINs 1506-AB24 and
1506-AB29.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 04/04/16 81 FR 19086
NPRM Comment Period End............. 06/03/16
-----------------------------------
Final Action........................ To Be Determined
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: <a href="/cdn-cgi/l/email-protection#deb8acbd9eb8b7b0bdbbb0f0b9b1a8">[email&#160;protected]</a>.
RIN: 1506-AB36

423. Clarification of the Requirement To Collect, Retain, and Transmit
Information on Transactions Involving Convertible Virtual Currencies
and Digital Assets With Legal Tender Status [1506-AB41]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: The Board of Governors of the Federal Reserve System and
FinCEN (collectively, the ``Agencies'') intend to issue a revised
proposal to clarify the meaning of ``money'' as used in the rules
implementing the Bank Secrecy Act requiring financial institutions to
collect, retain, and transmit information on certain funds transfers
and transmittals of funds. The Agencies intend that the revised
proposal will ensure that the rules apply to domestic and cross-border
transactions involving convertible virtual currency, which is a medium
of exchange (such as cryptocurrency) that either has an equivalent
value as currency, or acts as a substitute for currency, but lacks
legal tender status. The Agencies further intend that the revised
proposal will clarify that these rules apply to domestic and cross-
border transactions involving digital assets that have legal tender
status.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/27/20 85 FR 68005
NPRM Comment Period End............. 11/27/20
Second NPRM......................... 01/00/25
Second NPRM Comment Period End...... 03/00/25
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: <a href="/cdn-cgi/l/email-protection#dabca8b99abcb3b4b9bfb4f4bdb5ac">[email&#160;protected]</a>.
RIN: 1506-AB41

424. Requirements for Certain Transactions Involving Convertible
Virtual Currency or Digital Assets [1506-AB47]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN is amending the regulations implementing the Bank
Secrecy Act (BSA) to require banks and money service businesses (MSBs)
to submit reports, keep records, and verify the identity of customers
in relation to transactions involving convertible virtual currency
(CVC) or digital assets with legal tender status (``legal tender
digital assets'' or ``LTDA'') held in

[[Page 9629]]

unhosted wallets, or held in wallets hosted in a jurisdiction
identified by FinCEN.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/23/20 85 FR 83840
NPRM Comment Period End............. 01/04/21
-----------------------------------
Final Action........................ To Be Determined
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: <a href="/cdn-cgi/l/email-protection#97f1e5f4d7f1fef9f4f2f9b9f0f8e1">[email&#160;protected]</a>.
RIN: 1506-AB47

425. Section 6110. Bank Secrecy Act Application to Dealers in
Antiquities and Assessment of Bank Secrecy Act Application to Dealers
in Arts [1506-AB50]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a Notice of Proposed Rulemaking
to implement Section 6110 of the Anti-Money Laundering Act of 2020 (the
AML Act). This section amends the Bank Secrecy Act (31 U.S.C.
5312(a)(2)) to include as a financial institution a person engaged in
the trade of antiquities, including an advisor, consultant, or any
other person who engages as a business in the solicitation or the sale
of antiquities, subject to regulations prescribed by the Secretary of
the Treasury. The section further requires the Secretary of the
Treasury to issue proposed rules to implement the amendment within 360
days of enactment of the AML Act.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 09/24/21 86 FR 53021
ANPRM Comment Period End............ 10/25/21
-----------------------------------
NPRM................................ To Be Determined
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: <a href="/cdn-cgi/l/email-protection#395f4b5a795f50575a5c57175e564f">[email&#160;protected]</a>.
RIN: 1506-AB50

426. Section 6212. Pilot Program on Sharing of Information Related to
Suspicious Activity Reports Within a Financial Group [1506-AB51]

Legal Authority: 12 U.S.C. 1829b; 12 U.S.C. 1951 to 1960; 31 U.S.C.
5311 to 5314; 31 U.S.C. 5316 to 5336
Abstract: FinCEN intends to issue a Final Rule in order to
implement Section 6212 of the Anti-Money Laundering Act of 2020 (the
AML Act). This section amends the Bank Secrecy Act (31 U.S.C. 5318(g))
to establish a pilot program that permits financial institutions to
share suspicious activity report (SAR) information with their foreign
branches, subsidiaries, and affiliates for the purpose of combating
illicit finance risks. The section further requires the Secretary of
the Treasury to issue rules to implement the amendment within one year
of enactment of the AML Act.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 01/25/22 87 FR 3719
NPRM Comment Period End............. 03/28/22
-----------------------------------
Final Rule.......................... To Be Determined
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: FinCEN Regulatory Support Section, Phone: 800 767-
2825, Email: <a href="/cdn-cgi/l/email-protection#096f7b6a496f60676a6c67276e667f">[email&#160;protected]</a>.
RIN: 1506-AB51

BILLING CODE 4810-02-P

DEPARTMENT OF THE TREASURY (TREAS)

Customs Revenue Function (CUSTOMS)

Proposed Rule Stage

427. <bullet> Entry of Low-Value Shipments [1515-AE84]

Legal Authority: 19 U.S.C. 1321
Abstract: This document proposes amendments to the U.S. Customs and
Border Protection (CBP) regulations pertaining to the entry of certain
low-value shipments not exceeding $800 that are eligible for an
administrative exemption from duty and tax. Specifically, CBP proposes
to create a new process for entering low-value shipments, allowing CBP
to target high-risk shipments more effectively, including those
containing synthetic opioids such as fentanyl. This document also
proposes to revise the current process for entering low-value shipments
to require additional data elements that would assist CBP in verifying
eligibility for duty- and tax-free entry of low-value shipments and
bona-fide gifts.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 04/00/24
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Christopher Mabelitini, Director, Intellectual
Property Rights & E-Commerce Division, Department of the Treasury,
Customs Revenue Function, 1300 Pennsylvania Avenue NW, Washington, DC
20229, Phone: 202 325-6915.
RIN: 1515-AE84

DEPARTMENT OF THE TREASURY (TREAS)

Customs Revenue Function (CUSTOMS)

Final Rule Stage

428. Enforcement of copyrights and the Digital Millennium Copyright Act
[1515-AE26]

Legal Authority: Title III of the Trade Facilitation and Trade
Enforcement Act of 2015 (Pub. L. 114-125); 19 U.S.C. 1595a(c)(2)(G); 19
U.S.C. 1624
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.......................... 12/00/23
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Alaina Van Horn, Chief, Intellectual Property
Enforcement Branch, Department of the Treasury, Customs Revenue
Function, 1331 Pennsylvania Avenue NW, Washington, DC 20229, Phone: 202
325-0083, Email: <a href="/cdn-cgi/l/email-protection#741518151d1a155a02151a1c1b061a341716045a101c075a131b02">[email&#160;protected]</a>.
RIN: 1515-AE26

BILLING CODE 9111-14-P

DEPARTMENT OF THE TREASURY (TREAS)

Internal Revenue Service (IRS)

Completed Actions

429. Guidance on the Elimination of Interbank Offered Rates [1545-BO91]

Legal Authority: 26 U.S.C. 882c and 7805; 26 U.S.C. 7805
Abstract: The final regulations will provide guidance on the tax

[[Page 9630]]

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 the
transition from IBOR to other reference rates and the determination of
the interest expense deduction of a foreign corporation.
Completed:

------------------------------------------------------------------------
Reason Date FR Cite
------------------------------------------------------------------------
Final Action Completed By TD 9976... 06/30/23 88 FR 42231
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Caleb Trimm, Phone: 202 317-6002, Fax: 855 589-
8672, Email: <a href="/cdn-cgi/l/email-protection#1675777a737438613862647f7b7b24567f64657579637865737a38626473776538717960">[email&#160;protected]</a>.
RIN: 1545-BO91

430. <bullet> Additional guidance on Low-Income Communities Bonus
Credit Program [1545-BQ81]

Legal Authority: 26 U.S.C. 48(e); 26 U.S.C. 7805
Abstract: This document contains final regulations concerning the
application of the low-income communities' bonus credit program for the
energy investment credit established pursuant to the Inflation
Reduction Act of 2022. Under this program, applicants investing in
certain solar or wind-powered electricity generation facilities for
which the applicants otherwise would be eligible for an energy
investment credit may apply for an allocation of environmental justice
solar and wind capacity limitation to increase the amount of the energy
investment credit for the taxable year in which the facility is placed
in service. This document provides definitions and requirements that
are applicable for this program. These final regulations affect
applicants seeking allocations of the environmental justice solar and
wind capacity limitation to increase the amount of the energy
investment credit for which such applicants would otherwise be eligible
once the facility is placed in service.
Timetable:

------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 06/01/23 88 FR 35791
NPRM Comment Period End............. 06/30/23
Final Rule.......................... 08/15/23 88 FR 55506
Final Rule Effective................ 10/16/23
------------------------------------------------------------------------

Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Whitney Brady, General Attorney, Department of the
Treasury, Internal Revenue Service, 1111 Constitution Avenue NW, Room
5114, Washington, DC 20224, Phone: 202 317-6853, Email:
<a href="/cdn-cgi/l/email-protection#7a0d12130e141f03541f5418081b1e03483a13080919150f14091f16540e081f1b09541d150c">[email&#160;protected]</a>.
RIN: 1545-BQ81

[FR Doc. 2024-00445 Filed 2-8-24; 8:45 am]
BILLING CODE 4810-01-P

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