60-day FRN

73742

Federal Register / Vol. 86, No. 246 / Tuesday, December 28, 2021 / Notices

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.
National Oceanic &
Atmospheric Administration (NOAA),
Commerce.
ACTION: Notice of information collection,
request for comment.
AGENCY:

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 [email protected]. 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
[email protected].
SUPPLEMENTARY INFORMATION:

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SUMMARY:

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

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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

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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 forprofit 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]
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