Capital Construction Fund Agreement, Certificate Family of Forms, and Deposit/Withdrawal Report
Revision of a currently approved collection
No
Regular
05/17/2022
Requested
Previously Approved
36 Months From Approved
06/30/2022
1,575
1,600
2,900
4,075
4,168
7,585
This request is for extension and revision of this information collection to add a form (Schedule of Tax Basis) to the Certificate Family of Forms. NMFS is proposing to add the Schedule of Tax Basis form, which is required upon completion of a Schedule B project in order to determine the remaining tax basis of the qualified vessel.
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 91â469 and Public Law 99â514, provides for the administration of a Capital Construction Fund (CCF) Program by NOAAâs 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.
US Code:
46 USC 1111
Name of Law: Merchant Marine Act of 1936
The burden hour estimates, used in item #12, were adjusted to be reflective of the current Capital Construction Fund Program active cases and average number of new applications and certificate family of forms submissions received. The response time estimates were adjusted to be more representative of the amount of time it takes a respondent to complete each form. We are adding the Schedule of Tax Basis form to the Certificate Family of forms. The number of respondents and response time estimates were adjusted to include the addition of this form.
The annual respondent cost burden rates, used in item #13, have been adjusted to reflect an increase in postal rates since the last PRA renewal. In addition, the copies/supplies rate estimate was adjusted for inflation. The total annual burden cost to respondents has decreased due to the availability of email submission of these documents that didn't exist in the prior PRA renewal.
$69,977
No
Yes
Yes
No
No
No
No
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 87 FR 29853 2022-0517.pdf
0648-0041 Supporting Statement A.docx
Capital Construction Fund - Deposit/Withdrawal Report