This request is to extend this information collection and update the Regulatory citations contained within the collection to be consistent with the new CCF Regulations implemented on June 29, 2017. Respondents will be commercial fishing industry individuals, partnerships, and corporations which entered into Capital Construction Fund (CCF) Agreements with the Secretary of Commerce allowing deferral of Federal taxation on fishing vessel income deposited into the Fund for use in the acquisition, construction or reconstruction of fishing vessels. The Capital Construction Fund Agreement and Certificate Family of Forms is required pursuant to 50 CFR Part 259.2 and Public Law 99-514 (The Tax Reform Act, 1986). The Deposit/withdrawal information collected from Agreement holders is required pursuant to 50 CFR part 259.7 and Public Law 99-514. The information collected from applicants for the CCF Agreement is used to determine their eligibility to participate in the CCF Program. The information collected from Agreement holders for the Certificate of 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 is required to ensure that program users are complying with fund deposit and withdrawal regulatory requirements.
US Code:
46 USC 1111
Name of Law: Merchant Marine Act of 1936
New CCF Regulations were implemented on June 29, 2017, which necessitated that all regulatory citations contained within this collection be updated. Participation rate and associated costs to respondents and the Federal government have been changed to more accurately reflect current Program status and increased administrative costs. Annually, on average, there are 1,000 current CCF Agreements, and 50 new applicant submissions based on historical statistics. This represents a decrease in caseload resulting from the purge of noncompliant Agreements.
$40,095
No
Yes
Yes
No
No
No
Uncollected
Richard VanGorder 301 713-2393 ext. 195
No
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:
(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;
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.
Form NOAA 34-82 Capital Construction Fund - Deposit/Withdrawal Report
0648-0041 30-day 84 FR 11754 2019-0328.pdf
0648-0041 Supporting Statement A FINAL REVISED 2019-0625.doc
Capital Construction Fund - Deposit/Withdrawal Report