Federal Register / Vol. 76, No. 73 / Friday, April 15, 2011 / Notices 21427 

Fund Environmental Quality 

Regulations (12 CFR part 1815). The 

ERNR will assist the CDFI Fund in 

determining whether additional 

environmental review is necessary for 

the proposed CMF project, as mandated 

by 12 CFR Part 1815. 

Current Actions: New collection. 

Type of Review: Regular Review. 

Affected Public: Capital Magnet Fund 

Awardees. 

Estimated Number of Respondents: 

20. 

Estimated Annual Time per 

Respondent: 4 hours. 

Estimated Total Annual Burden 

Hours: 80 hours. 

Requests For Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for Office of Management and 

Budget approval. All comments will 

become a matter of public record and 

will be published on the CDFI Fund 

Web site at http://www.cdfifund.gov. 

Comments are invited on: (a) Whether 

the collection of information is 

necessary for the proper performance of 

the functions of the CDFI Fund, 

including whether the information shall 

have practical utility; (b) the accuracy of 

the CDFI Fund’s estimate of the burden 

of the collection of information; (c) ways 

to enhance the quality, utility, and 

clarity of the information to be 

collected; (d) ways to minimize the 

burden of the collection of information 

on respondents, including through the 

use of technology; and (e) estimates of 

capital or start-up costs and costs of 

operation, maintenance, and purchase 

of services to provide information. 

Authority: Pub. L. 110–289. 

Dated: April 8, 2011. 

Donna Gambrell, 

Director, Community Development Financial 

Institutions Fund. 

[FR Doc. 2011–9205 Filed 4–14–11; 8:45 am] 

BILLING CODE 4810–70–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its effort to reduce 

paperwork and respondent burden, 

invites the general public and Federal 

agencies to take this opportunity to 

comment on proposed and/or 

continuing information collections, as 

required by the Paperwork Reduction 

Act of 1995, Public Law 104–13 (44 

U.S.C. 3506(c)(2)(A)). The IRS is 

soliciting comments concerning 

information collection requirements 

related to the treatment of gain from the 

disposition of interest in certain natural 

resource recapture property by S 

corporations and their shareholders. 

DATES: Written comments should be 

received on or before June 14, 2011 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Yvette B. Lawrence, Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the information collection 

should be directed to Joel Goldberger, at 

(202) 927–9368, or at Internal Revenue 

Service, Room 6129, 1111 Constitution 

Avenue, NW., Washington, DC 20224, 

or through the Internet, at 

Joel.P.Goldberger@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Treatment of Gain From the 

Disposition of Interest in Certain 

Natural Resource Recapture Property by 

S Corporations and Their Shareholders. 

OMB Number: 1545–1493. 

Regulation Project Number: T.D. 8684. 

Abstract: This regulation prescribes 

rules under Code section 1254 relating 

to the treatment by S corporations and 

their shareholders of gain from the 

disposition of natural resource recapture 

property and from the sale or exchange 

of S corporation stock. Section 1.1254– 

4(c)(2) of the regulation provides that 

gain recognized on the sale or exchange 

of S corporation stock is not treated as 

ordinary income if the shareholder 

attaches a statement to his or her return 

containing information establishing that 

the gain is not attributable to section 

1254 costs. 

Current Actions: There is no change to 

this existing regulation. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations, and individuals. 

Estimated Number of Respondents: 

1,000. 

Estimated Time per Respondent: 1 

hour. 

Estimated Total Annual Burden 

Hours: 1,000. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. Comments are invited on: 

(a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Approved: April 5, 2011. 

Yvette B. Lawrence, 

IRS Reports Clearance Officer. 

[FR Doc. 2011–8756 Filed 4–14–11; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning 

information collection requirements 

related to manufacturers excise taxes on 

sporting goods and firearms and other 

administrative provisions of special 

application to manufacturers and 

retailers excise taxes. 


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