80 FR 74677 - General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds; Correction
DEPARTMENT OF THE TREASURY
Internal Revenue Service Federal Register Volume 80, Issue 229 (November 30, 2015)
Internal Revenue Service
Federal Register Volume 80, Issue 229 (November 30, 2015)
| Page Range | 74677-74678 | |
| FR Document | 2015-30322 |
[Federal Register Volume 80, Number 229 (Monday, November 30, 2015)] [Rules and Regulations] [Pages 74677-74678] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-30322] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9741] RIN 1545-BB23; 1545-BC07; 1545-BH48 General Allocation and Accounting Regulations Under Section 141; Remedial Actions for Tax-Exempt Bonds; Correction AGENCY: Internal Revenue Service (IRS), Treasury. ACTION: Final regulations; correcting amendment. ----------------------------------------------------------------------- SUMMARY: This document contains corrections to final regulations (TD 9741) that were published in the Federal Register on Tuesday, October 27, 2015 (80 FR 65637). The final regulations provide guidance on allocation and accounting, and certain remedial actions, for purposes of the private activity bond restrictions under section 141of the Internal Revenue Code that apply to tax-exempt bonds issued by State and local governments. DATES: This correction is effective November 30, 2015 and applicable October 27, 2015. [[Page 74678]] FOR FURTHER INFORMATION CONTACT: Johanna Som de Cerff or Zoran Stojanovic at (202) 317-6980 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The final regulations (TD 9741) that are the subject of this correction are under section 141 of the Internal Revenue Code. Need for Correction As published, the final regulations (TD 9741) contains an error that may prove to be misleading and is in need of clarification. List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. Correction of Publication Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment: PART 1--INCOME TAXES 0 Paragraph 1. The authority citation for part 1 continues to read in part as follows: Authority: 26 U.S.C. 7805 * * * 0 Par. 2. Section 1.141-15 is amended by revising paragraph (l)(1) to read as follows: Sec. 1.41-15 Effective/applicability dates. * * * * * (l) * * * (1) In general. Except as otherwise provided in this section, Sec. Sec. 1.141-1(e), 1.141-3(g)(2)(v), 1.141-6, 1.141-13(d), and 1.145-2(b)(4), (b)(5), and (c)(2) apply to bonds that are sold on or after January 25, 2016, and to which the 1997 regulations (as defined in paragraph (b)(1) of this section) apply. * * * * * Martin V. Franks, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2015-30322 Filed 11-27-15; 8:45 am] BILLING CODE 4830-01-P
![Federal Register / Vol. 80, No. 229 / Monday, November 30, 2015 / Rules and Regulations 74677
Airmen. The effective date and time will Adoption of the Amendment that airspace from the 4-mile radius to the
thereafter be continuously published in 5.7-mile radius of the Tompkins Regional
In consideration of the foregoing, the Airport extending clockwise from the 170°
the Airport/Facility Directory.’’ from the Federal Aviation Administration bearing to the 196° bearing from the airport
regulatory text of the Class E airspace amends 14 CFR Part 71 as follows: and that airspace within 2.7 miles each side
designated as an extension to Class D at of the Ithaca VOR/DME 305° radial extending
Elmira/Corning Regional Airport, PART 71—DESIGNATION OF CLASS A, from the 4-mile radius of Tompkins Regional
Elmira, NY; Ithaca Tompkins Regional B, C, D, AND E AIRSPACE AREAS; AIR Airport to 7.4 miles northwest of the Ithaca
Airport, Ithaca, NY; and Duchess TRAFFIC SERVICE ROUTES; AND VOR/DME.
County Airport, Poughkeepsie, NY. REPORTING POINTS * * * * *
Additionally, the geographic AEA NY E4 Poughkeepsie, NY [Amended]
coordinates for each airport are updated ■ 1. The authority citation for Part 71
to be in concert with the FAA’s continues to read as follows: Dutchess County Airport, Poughkeepsie, NY
Authority: 49 U.S.C. 106(f), 106(g); 40103, (Lat. 41°37′36″ N., long. 73°53′03″ W.)
aeronautical database. Also the FAA Kingston VORTAC
recognizes the airport’s name change 40113, 40120, E.O. 10854, 24 FR 9565, 3 CFR,
1959–1963 Comp., p. 389. (Lat. 41°39′55″ N., long. 73°49′20″ W.)
from Tompkins County Airport, Ithaca,
That airspace extending upward from the
NY, to Ithaca Tomkins Regional Airport, § 71.1 [Amended] surface within 3.1 miles each side of the
Ithaca, NY. Kingston VORTAC 025° radial extending
■ 2. The incorporation by reference in
This is an administrative change 14 CFR 71.1 of FAA Order 7400.9Z, from the VORTAC to 8.3 miles northeast of
amending the description for the above Airspace Designations and Reporting the VORTAC and within 1.8 miles each side
New York airports, to be in concert with of the Kingston VORTAC 231° radial
Points, dated August 6, 2015, effective extending from the 4-mile radius to 9.2 miles
the FAAs aeronautical database, and September 15, 2015, is amended as southwest of the VORTAC and within 3.1
does not affect the boundaries, or follows: miles each side of the Kingston VORTAC
operating requirements of the airspace, 050° radial extending from the VORTAC to
Paragraph 6004 Class E Airspace
therefore, notice and public procedure Designated as an Extension to a Class D 9.2 miles northeast of the VORTAC.
under 5 U.S.C. 553(b) are unnecessary. Surface Area Issued in College Park, Georgia, on
Regulatory Notices and Analyses * * * * * November 17, 2015.
Ryan W. Almasy,
AEA NY E4 Elmira, NY [Amended]
The FAA has determined that this Acting Manager, Operations Support Group,
regulation only involves an established Elmira/Corning Regional Airport, Elmira, NY Eastern Service Center, Air Traffic
(Lat. 42°09′35″ N., long 76°53′30″ W.) Organization.
body of technical regulations for which Elmira VOR/DME
frequent and routine amendments are (Lat. 42°05′40″ N., long 77°01′29″.) [FR Doc. 2015–30187 Filed 11–27–15; 8:45 am]
necessary to keep them operationally ERINN OM BILLING CODE 4910–13–P
current. It, therefore: (1) Is not a (Lat. 42°12′18″ N., long. 76°49′09″ W.)
‘‘significant regulatory action’’ under
That airspace extending upward from the
Executive Order 12866; (2) is not a surface within 1.8 miles each side of the DEPARTMENT OF THE TREASURY
‘‘significant rule’’ under DOT Elmira VOR/DME 057° radial extending from
Regulatory Policies and Procedures (44 the 4.2-mile radius to the VOR/DME and Internal Revenue Service
FR 11034; February 26, 1979); and (3) within 1.8 miles each side of the Elmira/
does not warrant preparation of a Corning Regional Airport ILS localizer 26 CFR Part 1
regulatory evaluation as the anticipated northeast course extending from the 4.2-mile
radius to 1.8 miles northeast of the ERINN [TD 9741]
impact is so minimal. Since this is a
OM and within 1.8 miles each side of the RIN 1545–BB23; 1545–BC07; 1545–BH48
routine matter that only affects air traffic centerline of Runway 10 extended easterly
procedures and air navigation, it is from the 4.2-mile radius of the airport for 1.1 General Allocation and Accounting
certified that this rule, when miles and within 1.8 miles each side of the Regulations Under Section 141;
promulgated, does not have a significant centerline of Runway 28 extended westerly
Remedial Actions for Tax-Exempt
economic impact on a substantial from the 4.2-mile radius for 3.7 miles.
Bonds; Correction
number of small entities under the * * * * *
criteria of the Regulatory Flexibility Act. AGENCY: Internal Revenue Service (IRS),
AEA NY E4 Ithaca, NY [Amended]
Treasury.
Environmental Review Ithaca Tompkins Regional Airport, Ithaca, ACTION: Final regulations; correcting
NY
The FAA has determined that this (Lat. 42°29′29″ N., long. 76°27′31″ W.) amendment.
action qualifies for categorical exclusion Ithaca VOR/DME SUMMARY: This document contains
under the National Environmental (Lat. 42°29′42″ N., long. 76°27′35″ W.)
corrections to final regulations (TD
Policy Act in accordance with FAA That airspace extending upward from the 9741) that were published in the
Order 1050.1F, ‘‘Environmental surface from the 4-mile radius of the
Tompkins Regional Airport to the 5.7-mile Federal Register on Tuesday, October
Impacts: Policies and Procedures,’’ 27, 2015 (80 FR 65637). The final
radius of the Tompkins Regional Airport
paragraph 311a. This airspace action is clockwise from the 329° bearing to the 081° regulations provide guidance on
not expected to cause any potentially bearing from the airport, that airspace from allocation and accounting, and certain
significant environmental impacts, and the 4-mile radius of Tompkins County remedial actions, for purposes of the
jstallworth on DSK7TPTVN1PROD with RULES
no extraordinary circumstances exist Airport to the 8.7-mile radius of the private activity bond restrictions under
that warrant preparation of an Tompkins Regional Airport extending section 141of the Internal Revenue Code
environmental assessment. clockwise from the 081° bearing to the 137° that apply to tax-exempt bonds issued
from the airport, that airspace from the 4-
Lists of Subjects in 14 CFR Part 71 mile radius of Tompkins Regional Airport to
by State and local governments.
the 6.6-mile radius of the Tompkins Regional DATES: This correction is effective
Airspace, Incorporation by reference, Airport extending clockwise from the 137° November 30, 2015 and applicable
Navigation (air). bearing to the 170° bearing from the airport, October 27, 2015.
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![74678 Federal Register / Vol. 80, No. 229 / Monday, November 30, 2015 / Rules and Regulations
FOR FURTHER INFORMATION CONTACT: DEPARTMENT OF THE TREASURY funds other than tax-exempt bond
Johanna Som de Cerff or Zoran proceeds to finance portions of projects
Stojanovic at (202) 317–6980 (not a toll- Internal Revenue Service that are expected to be used for private
free number). business use in the future. The intent of
26 CFR Part 1 this proposed rule was to encourage
SUPPLEMENTARY INFORMATION: retirement of tax-exempt bonds before
[TD 9741]
Background the occurrence of nonqualified use’’.
RIN 1545–BB23; 1545–BC07; 1545–BH48 2. On page 65642, in the preamble,
The final regulations (TD 9741) that first column, first sentence of the third
are the subject of this correction are General Allocation and Accounting full paragraph, under paragraph heading
under section 141 of the Internal Regulations Under Section 141; ‘‘Nonqualified Bonds,’’ the language
Remedial Actions for Tax-Exempt ‘‘Commenters generally agreed with the
Revenue Code.
Bonds; Correction proposed change that allows any bonds
Need for Correction of any issue to be treated as the’’ is
AGENCY: Internal Revenue Service (IRS),
As published, the final regulations Treasury. corrected to read ‘‘Commenters
(TD 9741) contains an error that may ACTION: Final regulations; correction. generally agreed with the proposed
prove to be misleading and is in need change that allows any bonds of an
SUMMARY: This document contains issue to be treated as the’’.
of clarification.
corrections to final regulations (TD
Martin V. Franks,
List of Subjects in 26 CFR Part 1 9741) that were published in the
Chief, Publications and Regulations Branch,
Federal Register on Tuesday, October
Income taxes, Reporting and Legal Processing Division, Associate Chief
27, 2015 (80 FR 65637). The final Counsel (Procedure and Administration).
recordkeeping requirements. regulations on allocation and
[FR Doc. 2015–30321 Filed 11–27–15; 8:45 am]
Correction of Publication accounting, and certain remedial
BILLING CODE 4830–01–P
actions, for purposes of the private
Accordingly, 26 CFR part 1 is activity bond restrictions under section
corrected by making the following 141of the Internal Revenue Code that
correcting amendment: apply to tax-exempt bonds issued by DEPARTMENT OF DEFENSE
State and local governments.
PART 1—INCOME TAXES Office of the Secretary
DATES: This correction is effective
November 30, 2015 and applicable 32 CFR Part 88
■ Paragraph 1. The authority citation October 27, 2015.
for part 1 continues to read in part as FOR FURTHER INFORMATION CONTACT: [Docket ID: DOD–2013–OS–0236]
follows: Johanna Som de Cerff or Zoran
RIN 0790–AJ17
Authority: 26 U.S.C. 7805 * * * Stojanovic at (202) 317–6980 (not a toll-
free number). Transition Assistance Program (TAP)
■ Par. 2. Section 1.141–15 is amended SUPPLEMENTARY INFORMATION: for Military Personnel
by revising paragraph (l)(1) to read as
follows: Background AGENCY: Under Secretary of Defense for
The final regulations (TD 9741) that Personnel and Readiness, DoD.
§ 1.41–15 Effective/applicability dates. are the subject of this correction are ACTION: Interim final rule.
* * * * * under sections 141 of the Internal
Revenue Code. SUMMARY: This rule establishes policy,
(l) * * * (1) In general. Except as
assigns responsibilities, and prescribes
otherwise provided in this section, Need for Correction procedures for administration of the
§§ 1.141–1(e), 1.141–3(g)(2)(v), 1.141–6, DoD Transition Assistance Program
As published, the final regulations
1.141–13(d), and 1.145–2(b)(4), (b)(5), (TAP). The goal of TAP is to prepare all
(TD 9741) contain errors that may prove
and (c)(2) apply to bonds that are sold to be misleading and are in need of eligible members of the Military
on or after January 25, 2016, and to clarification. Services for a transition to civilian life,
which the 1997 regulations (as defined including preparing them to meet Career
in paragraph (b)(1) of this section) Correction of Publication Readiness Standards (CRS). The TAP
apply. Accordingly, the final regulations (TD provides information and training to
* * * * * 9741), that are subject to FR Doc. 2015– ensure Service members leaving Active
27328, are corrected as follows: Duty and eligible Reserve Component
Martin V. Franks, 1. On page 65641, in the preamble, Service members being released from
Chief, Publications and Regulations Branch, third column, the second and third active duty are prepared for their next
Legal Processing Division, Associate Chief sentences of the first full paragraph, step in life whether pursuing additional
Counsel (Procedure and Administration). under paragraph heading ‘‘Anticipatory education, finding a job in the public or
[FR Doc. 2015–30322 Filed 11–27–15; 8:45 am] Redemptions, ’’the language ‘‘This private sector, starting their own
BILLING CODE 4830–01–P allows targeting of funds other than tax- business or other form of self-
exempt bond proceeds to finance employment, or returning to school or
jstallworth on DSK7TPTVN1PROD with RULES
portions of projects that are expected to an existing job. Service members receive
be used for private business use in the training to meet CRS through the
future. The intent of this proposed rule Transition GPS (Goals, Plans, Success)
is to encourage retirement of tax-exempt curricula, including a core curricula and
bonds before the occurrence of individual tracks focused on Accessing
nonqualified use.’’ is corrected to read Higher Education, Career Technical
‘‘This would have allowed targeting of Training, and Entrepreneurship.
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Document Created: 2018-03-01 11:11:40
Document Modified: 2018-03-01 11:11:40
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Rules and Regulations | |
| Action | Final regulations; correcting amendment. | |
| Dates | This correction is effective November 30, 2015 and applicable October 27, 2015. | |
| Contact | Johanna Som de Cerff or Zoran Stojanovic at (202) 317-6980 (not a toll-free number). | |
| FR Citation | 80 FR 74677 | |
| RIN Number | 1545-BB23, 1545-BC07 and 1545-BH48 | |
| CFR Associated | Income Taxes and Reporting and Recordkeeping Requirements |
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