Low-Income Housing Credit Disposition Bond or Treasury Direct Account Application

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Form 8693 Low-Income Housing Credit Disposition Bond or Treasury Direct Accout Application	Form and Instruction	Modified	Repair queued
2006 burden estimates to acct for Business filers.PDF	Supplementary Document	Uploaded 2009-02-18	Available
Expiration Explanation.rtf	Supplementary Document	Uploaded 2008-12-09	Available
burden.PDF	Supplementary Document	Uploaded 2009-02-18	Available
8693.SUP.doc	Supporting Statement A	Uploaded 2009-02-18	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
39995	Low-Income Housing Credit Disposition Bond or Treasury Direct Accout Application	Form and Instruction	Modified

ICR Details

OMB Control No: 1545-1029	ICR Reference No: 200812-1545-011
Status: Historical Active	Previous ICR Reference No: 200603-1545-033
Agency/Subagency: TREAS/IRS	Agency Tracking No: ah-1029-011
Title: Low-Income Housing Credit Disposition Bond or Treasury Direct Account Application
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 02/18/2009
	Date Received in OIRA: 12/16/2008
Terms of Clearance: Changes made to burden computation worksheet to address Treasury/IRS computation error.

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2012	36 Months From Approved	02/28/2009
Responses	667	0	667
Time Burden (Hours)	3,589	0	1,690
Cost Burden (Dollars)	0	0	0

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Abstract: Form 8693 is needed per IRC section 42(j)(6) to post bond or establish a Treasury Direct Account and waive the recapture requirements under section 42(j) for certain disposition of a building on which the low-income housing credit was claimed. Internal Revenue regulations section 301.7101-1 requires that the posting of a bond must be done on the appropriate form as determined by the Internal Revenue Service.

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Authorizing Statute(s): US Code: 26 USC 42(j) Name of Law: Recapture of credit.
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 55207	09/24/2008
30-day Notice:	Federal Register Citation:	Citation Date:
	73 FR 76449	12/16/2008
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

table that charts list of burden

IC Title	Form No.	Form Name
Low-Income Housing Credit Disposition Bond or Treasury Direct Accout Application	8693	Low-Income Housing Credit Disposition Bond

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ICR Summary of Burden

table that charts list of burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	667	667	0	0	0	0
Annual Time Burden (Hours)	3,589	1,690	0	0	1,899	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: A correction was made to account for a prior computation error on ROCIS. It appears this occurred during the initial transposition phase when ROCIS data was being populated by Treasury. ROCIS shows total burden hours of 1,690 for 2006 when burden should have been displayed as 3,589. The new burden computation takes into account the correct figures.

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Annual Cost to Federal Government: $228

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 12/16/2008

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