Notice2025-05486
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
March 31, 2025
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 90 Issue 60 (Monday, March 31, 2025)</title>
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[Federal Register Volume 90, Number 60 (Monday, March 31, 2025)]
[Notices]
[Pages 14251-14252]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-05486]
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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 May 30, 2025.
ADDRESSES: Interested persons are invited to submit written comments to
Adrienne Thomas, NOAA PRA Officer, at <a href="/cdn-cgi/l/email-protection#266869676708767467664849474708414950"><span class="__cf_email__" data-cfemail="541a1b15157a040615143a3b35357a333b22">[email protected]</span></a>. Please
reference OMB Control Number 0648-0041 in the subject line of your
comments. All comments received are part of the public record and will
generally be posted on <a href="https://www.regulations.gov">https://www.regulations.gov</a> without change. 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 Brian Summers, Loan Specialist, Financial Services Division, 1315
East West Highway, Silver Spring, MD 20910, 301-427-8783,
<a href="/cdn-cgi/l/email-protection#ddbfafb4bcb3f3aea8b0b0b8afae9db3b2bcbcf3bab2ab"><span class="__cf_email__" data-cfemail="61031308000f4f12140c0c041312210f0e00004f060e17">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION:
I. Abstract
This is a request for renewal of an 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 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, corporations and limited liability companies which
entered into 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, to certify the cost of a project at
completion and to determine the remaining tax basis of the qualified
vessel. The information collected on the Deposit/Withdrawal Report
(NOAA Form 34-82) is required to ensure that agreement holders are
complying with fund deposit/
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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.
II. Method of Collection
Electronically, and email.
III. Data
OMB Control Number: 0648-0041.
Form Number(s): 88-14, 34-82.
Type of Review: Regular submission [extension of a current
information collection].
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 1,575.
Estimated Time per Response: 2 hours.
Estimated Total Annual Burden Hours: 2,900.
Estimated Total Annual Cost to Public: $4,000.
Respondent's Obligation: Required to Obtain or Retain Benefits.
Legal Authority: The Merchant Marine Act of 1936, as amended by
Public Law 91-469 and Public Law 99-514.
IV. Request for Comments
We are soliciting public comments to permit the Department/Bureau
to: (a) Evaluate whether the proposed information collection is
necessary for the proper functions of the Department, including whether
the information will have practical utility; (b) Evaluate the accuracy
of our estimate of the time and cost burden for this proposed
collection, including the validity of the methodology and assumptions
used; (c) Evaluate ways to enhance the quality, utility, and clarity of
the information to be collected; and (d) Minimize the reporting burden
on those who are to respond, including the use of automated collection
techniques or other forms of information technology.
Comments that you submit in response to this notice are a matter of
public record. We will include or summarize each comment in our request
to OMB to approve this information collection request. Before including
your address, phone number, email address, or other personal
identifying information in your comment, you should be aware that your
entire comment--including your personal identifying information--may be
made publicly available at any time. While you may ask us in your
comment to withhold your personal identifying information from public
review, we cannot guarantee that we will be able to do so.
Sheleen Dumas,
Departmental PRA Compliance Officer, Office of the Under Secretary for
Economic Affairs, Commerce Department.
[FR Doc. 2025-05486 Filed 3-28-25; 8:45 am]
BILLING CODE 3510-22-P
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