30-day FRN

0648-0041 30-day 87 FR 29853 2022-0517.pdf

Capital Construction Fund Agreement, Certificate Family of Forms, and Deposit/Withdrawal Report

30-day FRN

OMB: 0648-0041

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Federal Register / Vol. 87, No. 95 / Tuesday, May 17, 2022 / Notices
Notification to Interested Parties
We are issuing and publishing these
amended final results of review in
accordance with sections 751(h) and
777(i) of the Act and 19 CFR 351.224(e).
Dated: May 5, 2022.
Lisa W. Wang,
Assistant Secretary for Enforcement and
Compliance.
[FR Doc. 2022–10567 Filed 5–16–22; 8:45 am]
BILLING CODE 3510–DS–P

DEPARTMENT OF COMMERCE
National Oceanic and Atmospheric
Administration

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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 December
28, 2021 during a 60-day comment
period. This notice allows for an
additional 30 days for public comments.
Agency: National Oceanic &
Atmospheric Administration (NOAA),
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,
NOAA Form 88–14.
Type of Request: Regular submission.
Revision and extension of a current
information collection.
Number of Respondents: 1,575.
Average Hours per Response: NOAA
Form 34–82, 2 hours; NOAA Form 88–
14, 2 hours; and 1.5 hours for the
Certificate Family of Forms (includes
Fishing Vessel CCF Application,
Schedule A, Schedule B, Schedule of
Tax Basis, Certificate of Construction/
Reconstruction.
Total Annual Burden Hours: 2,900.
Needs and Uses: This request is for a
revision and extension of a currently

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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 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 that
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/

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29853

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
order to determine the remaining tax
basis of the qualified vessel.
Affected Public: Business or other forprofit organizations.
Frequency: NOAA Form 34–82
(annual); NOAA Form 88–14 (one time
when applying for program benefits);
Certificate Family of Forms (varies).
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.
This information collection request
may be viewed at www.reginfo.gov.
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 www.reginfo.gov/
public/do/PRAMain. 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,
Department PRA Clearance Officer, Office of
the Chief Information Officer, Commerce
Department.
[FR Doc. 2022–10533 Filed 5–16–22; 8:45 am]
BILLING CODE 3510–22–P

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; Licensing of Private RemoteSensing Space Systems
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

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17MYN1


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