82 FR 3026 - Discount Rates for Cost-Effectiveness Analysis of Federal Programs
OFFICE OF MANAGEMENT AND BUDGET Federal Register Volume 82, Issue 6 (January 10, 2017)
Federal Register Volume 82, Issue 6 (January 10, 2017)
| Page Range | 3026-3027 | |
| FR Document | 2017-00209 |
[Federal Register Volume 82, Number 6 (Tuesday, January 10, 2017)] [Notices] [Pages 3026-3027] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2017-00209] ======================================================================= ----------------------------------------------------------------------- OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs AGENCY: Office of Management and Budget. ACTION: Revisions to Appendix C of OMB Circular A-94. ----------------------------------------------------------------------- SUMMARY: The Office of Management and Budget revised Circular A-94 in 1992. The revised Circular specified certain discount rates to be updated annually when the interest rate and inflation assumptions used to prepare the Budget of the United States Government were changed. These discount rates are found in Appendix C of the revised Circular. The updated discount rates are shown below. The discount rates in Appendix C are to be used for cost-effectiveness analysis, including lease-purchase analysis, as specified in the revised Circular. They do not apply to regulatory analysis. DATES: The revised discount rates will be in effect through December 2017. FOR FURTHER INFORMATION CONTACT: Gideon Lukens, Office of Economic Policy, Office of Management and Budget, (202) 395-3316. Devin O'Connor, Associate Director for Economic Policy, Office of Management and Budget. Attachment OMB Circular No. A-94 Appendix C (Revised November 2016) Discount Rates for Cost-Effectiveness, Lease Purchase, and Related Analyses Effective Dates. This appendix is updated annually. This version of the appendix is valid for calendar year 2017. A copy of the updated appendix can be obtained in electronic form through the OMB home page at http://www.whitehouse.gov/omb/circulars_a094/a94_appx-c/. The text of the Circular is found at http://www.whitehouse.gov/omb/circulars_a094/, and a table of past years' rates is located at http://www.whitehouse.gov/sites/default/files/omb/assets/a94/dischist.pdf. Updates of the appendix are also available upon request from OMB's Office of Economic Policy (202-395-3316). Nominal Discount Rates. A forecast of nominal or market interest rates for calendar year 2017 based on the economic assumptions for the 2018 Budget is presented below. These nominal rates are to be used for discounting nominal flows, which are often encountered in lease- purchase analysis. Nominal Interest Rates on Treasury Notes and Bonds of Specified Maturities [in percent] ---------------------------------------------------------------------------------------------------------------- 3-Year 5-Year 7-Year 10-Year 20-Year 30-Year ---------------------------------------------------------------------------------------------------------------- 1.4 1.7 1.9 2.1 2.5 2.8 ---------------------------------------------------------------------------------------------------------------- Real Discount Rates. A forecast of real interest rates from which the inflation premium has been removed and based on the economic assumptions from the 2018 Budget is presented below. These real rates are to be used for discounting constant-dollar flows, as is often required in cost-effectiveness analysis. Real Interest Rates on Treasury Notes and Bonds of Specified Maturities [in percent] ---------------------------------------------------------------------------------------------------------------- 3-Year 5-Year 7-Year 10-Year 20-Year 30-Year ---------------------------------------------------------------------------------------------------------------- -0.5 -0.3 0.0 0.1 0.5 0.7 ---------------------------------------------------------------------------------------------------------------- [[Page 3027]] Analyses of programs with terms different from those presented above may use a linear interpolation. For example, a four-year project can be evaluated with a rate equal to the average of the three-year and five-year rates. Programs with durations longer than 30 years may use the 30-year interest rate. [FR Doc. 2017-00209 Filed 1-9-17; 8:45 am] BILLING CODE P
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providers; research scientists and a statement of support from the used for cost-effectiveness analysis,
academicians; Federal, State, Local applicant’s employer. Potential including lease-purchase analysis, as
prosecutors, defense attorneys and candidates may be asked to provide specified in the revised Circular. They
judges; law enforcement; and other detailed information as necessary do not apply to regulatory analysis.
relevant stakeholders. DOJ encourages regarding financial interests, DATES: The revised discount rates will
submissions from applicants with employment, and professional be in effect through December 2017.
respect to diversity of backgrounds, affiliations to evaluate possible sources
of conflicts of interest. The application FOR FURTHER INFORMATION CONTACT:
professions, ethnicities, gender, and
geography. The Commission shall period will remain open through Gideon Lukens, Office of Economic
consist of approximately 30 voting January 26, 2017. The applications must Policy, Office of Management and
members. Members will serve without be sent in one complete package, by Budget, (202) 395–3316.
compensation. The Commission email, to Jonathan McGrath (contact Devin O’Connor,
generally meets four times each year at information above) with the subject line Associate Director for Economic Policy, Office
approximately three-month intervals. of the email entitled, ‘‘NCFS of Management and Budget.
The next Commission meetings will be Membership 2017.’’ Other sources, in
Attachment
held on January 9–10, 2017 and April addition to the Federal Register notice,
may be utilized in the solicitation of OMB Circular No. A–94
10–11, 2017 in Washington, DC
Additional information regarding the applications. Appendix C
Commission can be found at: http:// Dated: January 4, 2017. (Revised November 2016)
www.justice.gov/ncfs. Jonathan McGrath,
Note: The Commission is developing Discount Rates for Cost-Effectiveness,
Designated Federal Officer, National
a draft Views document on Statistical Commission on Forensic Science.
Lease Purchase, and Related Analyses
Statements in Forensic Testimony, and [FR Doc. 2017–00210 Filed 1–9–17; 8:45 am] Effective Dates. This appendix is
it is anticipated that the additional BILLING CODE 4410–18–P updated annually. This version of the
Commissioner member will contribute appendix is valid for calendar year
to the Commission’s discussions on this 2017. A copy of the updated appendix
topic, as well as all other Commission OFFICE OF MANAGEMENT AND can be obtained in electronic form
activities. On December 12, 2016, the BUDGET through the OMB home page at http://
Department of Justice published in the www.whitehouse.gov/omb/circulars_
Federal Register a Notice announcing Discount Rates for Cost-Effectiveness a094/a94_appx-c/. The text of the
the January 9–10, 2017, Federal Analysis of Federal Programs Circular is found at http://
Advisory Committee Meeting of the www.whitehouse.gov/omb/circulars_
AGENCY: Office of Management and
National Commission on Forensic a094/, and a table of past years’ rates is
Budget.
Science (81 FR 89509). That Notice also located at http://www.whitehouse.gov/
ACTION: Revisions to Appendix C of
announced that comments on draft work sites/default/files/omb/assets/a94/
products can be submitted through OMB Circular A–94.
dischist.pdf. Updates of the appendix
www.regulations.gov starting on SUMMARY: The Office of Management are also available upon request from
December 23, 2016. Any comments and Budget revised Circular A–94 in OMB’s Office of Economic Policy (202–
should be posted to 1992. The revised Circular specified 395–3316).
www.regulations.gov no later than certain discount rates to be updated Nominal Discount Rates. A forecast of
January 25, 2017. annually when the interest rate and nominal or market interest rates for
Applications: Any qualified person inflation assumptions used to prepare calendar year 2017 based on the
may apply to be considered for the Budget of the United States economic assumptions for the 2018
appointment to this advisory committee. Government were changed. These Budget is presented below. These
Each application should include: (1) A discount rates are found in Appendix C nominal rates are to be used for
resume or curriculum vitae; (2) a of the revised Circular. The updated discounting nominal flows, which are
statement of interest describing the discount rates are shown below. The often encountered in lease-purchase
applicant’s relevant experience; and (3) discount rates in Appendix C are to be analysis.
NOMINAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES
[in percent]
3-Year 5-Year 7-Year 10-Year 20-Year 30-Year
1.4 1.7 1.9 2.1 2.5 2.8
Real Discount Rates. A forecast of real on the economic assumptions from the constant-dollar flows, as is often
interest rates from which the inflation 2018 Budget is presented below. These required in cost-effectiveness analysis.
premium has been removed and based real rates are to be used for discounting
pmangrum on DSK3GDR082PROD with NOTICES
REAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES
[in percent]
3-Year 5-Year 7-Year 10-Year 20-Year 30-Year
¥0.5 ¥0.3 0.0 0.1 0.5 0.7
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![Federal Register / Vol. 82, No. 6 / Tuesday, January 10, 2017 / Notices 3027
Analyses of programs with terms and Agency Assistance (ACRA) using requesting disposition authority, this
different from those presented above one of the following means: notice lists the organizational unit(s)
may use a linear interpolation. For Mail: NARA (ACRA); 8601 Adelphi accumulating the records (or notes that
example, a four-year project can be Road; College Park, MD 20740–6001. the schedule has agency-wide
evaluated with a rate equal to the Email: request.schedule@nara.gov. applicability when schedules cover
average of the three-year and five-year FAX: 301–837–3698. records that may be accumulated
rates. Programs with durations longer You must cite the control number, throughout an agency); provides the
than 30 years may use the 30-year which appears in parentheses after the control number assigned to each
interest rate. name of the agency that submitted the schedule, the total number of schedule
[FR Doc. 2017–00209 Filed 1–9–17; 8:45 am] schedule, and a mailing address. If you items, and the number of temporary
BILLING CODE P
would like an appraisal report, please items (the records proposed for
include that in your request. destruction); and includes a brief
FOR FURTHER INFORMATION CONTACT: description of the temporary records.
Margaret Hawkins, Director, by mail at The records schedule itself contains a
NATIONAL ARCHIVES AND RECORDS
Records Appraisal and Agency full description of the records at the file
ADMINISTRATION
Assistance (ACRA); National Archives unit level as well as their disposition. If
[NARA–2017–018] and Records Administration; 8601 NARA staff has prepared an appraisal
Adelphi Road; College Park, MD 20740– memorandum for the schedule, it also
Records Schedules; Availability and 6001, by phone at 301–837–1799, or by includes information about the records.
Request for Comments email at request.schedule@nara.gov. You may request additional information
AGENCY: National Archives and Records about the disposition process at the
SUPPLEMENTARY INFORMATION: Each year,
Administration (NARA). addresses above.
Federal agencies create billions of
ACTION: Notice of availability of records on paper, film, magnetic tape, Schedules Pending
proposed records schedules; request for and other media. To control this 1. Department of the Army, Agency-
comments. accumulation, agency records managers wide (DAA–AU–2016–0063, 1 item, 1
prepare schedules proposing records temporary item). Master files of an
SUMMARY: The National Archives and retention periods and submit these
Records Administration (NARA) electronic information system used to
schedules for NARA’s approval. These provide background data for safety and
publishes notice at least once monthly schedules provide for timely transfer
of certain Federal agency requests for occupational health programs.
into the National Archives of 2. Department of Homeland Security,
records disposition authority (records historically valuable records and
schedules). Once approved by NARA, Transportation Security Administration
authorize the agency to dispose of all (DAA–0560–2017–0001, 1 item, 1
records schedules provide mandatory other records after the agency no longer
instructions on what happens to records temporary item). Files related to
needs them to conduct its business. employee requests for a change in duty
when agencies no longer need them for Some schedules are comprehensive and
current Government business. The station due to a personal hardship.
cover all the records of an agency or one 3. Department of Homeland Security,
records schedules authorize agencies to of its major subdivisions. Most United States Citizenship and
preserve records of continuing value in schedules, however, cover records of Immigration Services (DAA–0566–
the National Archives of the United only one office or program or a few 2016–0021, 5 items, 5 temporary items).
States and to destroy, after a specified series of records. Many of these update Applications for approval of potential
period, records lacking administrative, previously approved schedules, and job-creating commercial enterprises that
legal, research, or other value. NARA some include records proposed as immigrant investors may finance.
publishes notice in the Federal Register permanent. 4. Department of Homeland Security,
for records schedules in which agencies The schedules listed in this notice are United States Citizenship and
propose to destroy records not media neutral unless otherwise Immigration Services (DAA–0566–
previously authorized for disposal or specified. An item in a schedule is 2016–0022, 8 items, 8 temporary items).
reduce the retention period of records media neutral when an agency may Applications for a travel document to
already authorized for disposal. NARA apply the disposition instructions to demonstrate to a commercial
invites public comments on such records regardless of the medium in transportation carrier a permanent
records schedules, as required by 44 which it creates or maintains the resident’s eligibility to enter the United
U.S.C. 3303a(a). records. Items included in schedules States.
DATES: NARA must receive requests for submitted to NARA on or after 5. Department of Homeland Security,
copies in writing by February 9, 2017. December 17, 2007, are media neutral United States Citizenship and
Once NARA finishes appraising the unless the item is expressly limited to Immigration Services (DAA–0566–
records, we will send you a copy of the a specific medium. (See 36 CFR 2017–0001, 9 items, 9 temporary items).
schedule you requested. We usually 1225.12(e).) Petitions from large multinational
prepare appraisal memoranda that Agencies may not destroy Federal corporations to be granted approval to
contain additional information records without Archivist of the United participate in a simplified process for
concerning the records covered by a States’ approval. The Archivist approves requesting visas for intra-company
proposed schedule. You may also destruction only after thoroughly transfers of managers and professionals.
pmangrum on DSK3GDR082PROD with NOTICES
request these. If you do, we will also considering the records’ administrative 6. Department of Justice, Federal
provide them once we have completed use by the agency of origin, the rights Bureau of Investigation (DAA–0065–
the appraisal. You have 30 days after we of the Government and of private people 2016–0002, 1 item, 1 temporary item).
send to you these requested documents directly affected by the Government’s Master files of an electronic information
in which to submit comments. activities, and whether or not the system used to track actions and results
ADDRESSES: You may request a copy of records have historical or other value. related to encounters between law
any records schedule identified in this In addition to identifying the Federal enforcement officials and known or
notice by contacting Records Appraisal agencies and any subdivisions suspected terrorists, including
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Document Created: 2018-02-01 14:53:55
Document Modified: 2018-02-01 14:53:55
| 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 | Notices | |
| Action | Revisions to Appendix C of OMB Circular A-94. | |
| Dates | The revised discount rates will be in effect through December 2017. | |
| Contact | Gideon Lukens, Office of Economic Policy, Office of Management and Budget, (202) 395-3316. | |
| FR Citation | 82 FR 3026 |
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