Section 48(e) Low-Income Communities Bonus Credit Program (TD 9979)

Forms and Documents

Document	Type	Status	Availability
2023 Supporting Statement 1545-NEW 48e-TD 9979lvd.docx	Supporting Statement A	Uploaded 2023-08-15	Repair queued
RP-2023-27_Final For IRB_8-15-23.docx	Supplementary Document	Uploaded 2023-08-15	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
260386	Section 48(e) Low-Income Communities Bonus Credit Program (REG-110412-23)	Other-wireframe screenshot	Modified

ICR Details

OMB Control No: 1545-2308	ICR Reference No: 202308-1545-003
Status: Received in OIRA	Previous ICR Reference No: 202305-1545-029
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Section 48(e) Low-Income Communities Bonus Credit Program (TD 9979)
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 08/15/2023

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	210,000	0
Time Burden (Hours)	210,000	0
Cost Burden (Dollars)	0	0

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Abstract: This document contains proposed rules concerning the low-income communities bonus energy investment credit program established pursuant to the Inflation Reduction Act of 2022. Applicants investing in certain solar and wind powered-electricity generation facilities may apply for an allocation of environmental justice solar and wind capacity limitation to increase the amount of an energy investment credit for the taxable year in which the facility is placed in service. This document describes proposed definitions and requirements regarding the program that would be applicable for calendar year 2023, which also would inform guidance applicable for future program years. The proposed rules would affect applicants seeking allocations of environmental justice solar and wind capacity limitation. Additional detailed guidance for the program applicable for calendar year 2023, including a comprehensive set of issues and procedures beyond the scope of this document, will be provided upon finalizing the proposed rules.

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Authorizing Statute(s): PL: Pub.L. 117 - 169 13103 Name of Law: Inflation Reduction Act of 2022 (IRA)
   US Code: 26 USC 48(e) Name of Law: Energy Credit
  

Citations for New Statutory Requirements: PL: Pub.L. 117 - 169 13103 Name of Law: The Inflation Reduction Act of 2022 (IRA

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1545-BQ26	Final or interim final rulemaking	88 FR 55506	08/15/2023

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? Yes

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

IC Title	Form No.	Form Name
Section 48(e) Low-Income Communities Bonus Credit Program (REG-110412-23)

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ICR Summary of Burden

	Total Request	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	210,000	0	210,000	0	0	0
Annual Time Burden (Hours)	210,000	0	210,000	0	0	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: This is a new collection due to enactment of the section 13103 of the Inflation Reduction Act of 2022.

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Annual Cost to Federal Government: $0

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 08/15/2023

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