Notice2025-15331
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
August 13, 2025
Issuing agencies
Commerce DepartmentNational Oceanic and Atmospheric Administration
Full Text
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<title>Federal Register, Volume 90 Issue 154 (Wednesday, August 13, 2025)</title>
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[Federal Register Volume 90, Number 154 (Wednesday, August 13, 2025)]
[Notices]
[Page 38952]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-15331]
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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
The Department of Commerce will submit the following information
collection request to the Office of Management and Budget (OMB) for
review and clearance in accordance with the Paperwork Reduction Act of
1995, on or after the date of publication of this notice. We invite 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. Public comments were previously requested via the
Federal Register on March 31, 2025 during a 60-day comment period. This
notice allows for an additional 30 days for public comments.
Agency: National Oceanic and Atmospheric Administration, Commerce.
Title: Capital Construction Fund Agreement, Certificate Family of
Forms and Deposit/Withdrawal Report.
OMB Control Number: 0648-0041.
Form Number(s): NOAA Form 34-82 and 88-14.
Type of Request: Regular submission (extension of a current
information collection).
Number of Respondents: 1,225.
Average Hours per Response: Capital Construction Fund: Deposit/
Withdrawal Report--2 hours; Family of Forms--1.5 hours; and
Application/Agreement--2 hours.
Total Annual Burden Hours: 2,020 hours.
Needs and Uses: 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 into 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/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.
The information collection previously listed as `CCF Family of
Forms' was broken into five separate collections in order to provide
more granularity into the collection. These are not new requirements
and do not change the information collected, rather they provide
greater detail into the use and frequency of the information collected.
Affected Public: Businesses.
Frequency: Once for Application and Agreement, annually for
Deposit/Withdrawal Report, and varied for CCF Family of Forms.
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.
This information collection request may be viewed at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>. Follow the instructions to view the Department of
Commerce collections currently under review by OMB.
Written comments and recommendations for the proposed information
collection should be submitted within 30 days of the publication of
this notice on the following website <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>.
Find this particular information collection by selecting ``Currently
under 30-day Review--Open for Public Comments'' or by using the search
function and entering either the title of the collection or the OMB
Control Number 0648-0041.
Sheleen Dumas,
Departmental PRA Compliance Officer, Office of the Under Secretary for
Economic Affairs, Commerce Department.
[FR Doc. 2025-15331 Filed 8-12-25; 8:45 am]
BILLING CODE 3510-22-P
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