6874 Federal Register / Vol. 62, No. 31 / Friday, February 14, 1997 / Rules and Regulations

approval to modify or delete such

mitigation features.

[FR Doc. 97–3746 Filed 2–13–97; 8:45 am]

BILLING CODE 4910–22–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8692]

RIN 1545–AR76

Reissuance of Mortgage Credit

Certificates; Correction

AGENCY: Internal Revenue Service,

Treasury.

ACTION: Correction to the final and

temporary regulations.

SUMMARY: This document contains a

correction to the final and temporary

regulations (TD 8692) which were

published in the Federal Register on

Tuesday, December 17, 1996 (61 FR

66212). The final and temporary

regulations relates to the reissuance of

mortgage credit certificates.

EFFECTIVE DATE: December 17, 1996.

FOR FURTHER INFORMATION CONTACT:

Michael Wachtel, (202) 622–3980 (not a

toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final and temporary regulations

that is subject to this correction is under

section 25 of the Internal Revenue Code.

Need for Correction

As published, the final and temporary

regulations (TD 8692) contains an error

which may prove to be misleading and

is in need of clarification.

Correction of Publication

Accordingly, the publication of the

final and temporary regulations (TD

8692) which is the subject of FR Doc.

96–31772 is corrected as follows:

On page 66212, column 3, in the

heading, the RIN ‘‘RIN 1545-AR57’’ is

corrected to read ‘‘RIN 1545-AR76’’.

Cynthia E. Grigsby,

Chief, Regulations Unit Assistant Chief

Counsel (Corporate).

[FR Doc. 97–3653 Filed 2–13–97; 8:45 am]

BILLING CODE 4830–01–U

26 CFR Parts 1 and 602

[TD 8690]

RIN 1545–AS95

Deductibility, Substantiation, and

Disclosure of Certain Charitable

Contributions; Correction

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Correction to final regulations.

SUMMARY: This document contains

corrections to final regulations[TD 8690]

which were published in the Federal

Register for Monday, December 16, 1996

(61 FR 65946). The final regulations

provide guidance regarding the

allowance of certain charitable

contribution deductions, the

substantiation requirements for

charitable contributions of $250 or

more, and the disclosure requirements

for quid pro quo contributing in excess

of $75.

EFFECTIVE DATE: December 16, 1996.

FOR FURTHER INFORMATION CONTACT:

Jefferson K. Fox of the Office of

Assistant Chief Counsel (Income Tax

and Accounting) (202) 622–4930 (not a

toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The final regulations that are the

subject of these corrections are under

section 170 of the Internal Revenue

Code.

Need for Correction

As published final regulations [TD

8690] contain errors that are misleading

and in need of clarification.

Correction of Publication

Accordingly, the publication of final

regulations [TD 8690] which are the

subject of FR Doc. 96–31719 is corrected

as follows:

1. On page 65946, column three, in

the heading the RIN ‘‘1545-AS94’’ is

corrected to read ‘‘1545-AS95’’.

2. On page 65946, column three, in

the preamble following the paragraph

heading ‘‘Paperwork Reduction Act’’,

third paragraph, line 5, the language

‘‘average of six minutes.’’ is corrected to

read ‘‘average of six minutes. The

estimated annual burden per respondent

is two and a half hours.’’.

3. On page 65946, column three, in

the preamble following the paragraph

heading ‘‘Paperwork Reduction Act’’,

fourth paragraph, line 5, the language

‘‘Reports Clearance Officer, PC:FP,’’ is

corrected to read ‘‘Reports Clearance

Officer, T:FP,’’.

Cynthia E. Grigsby,

Chief, Regulations Unit Assistant Chief

Counsel (Corporate).

[FR Doc. 97–3654 Filed 2–13–97; 8:45 am]

BILLING CODE 4830–01–U

PENSION BENEFIT GUARANTY

CORPORATION

29 CFR Part 4044

Allocation of Assets in SingleEmployer Plans; Interest Assumptions

for Valuing Benefits

AGENCY: Pension Benefit Guaranty

Corporation.

ACTION: Final rule.

SUMMARY: The Pension Benefit Guaranty

Corporation’s regulation on Allocation

of Assets in Single-Employer Plans

prescribes interest assumptions for

valuing benefits under terminating

single-employer plans. This final rule

amends the regulation to adopt interest

assumptions for plans with valuation

dates in March 1997.

EFFECTIVE DATE: March 1, 1997.

FOR FURTHER INFORMATION CONTACT:

Harold J. Ashner, Assistant General

Counsel, Office of the General Counsel,

Pension Benefit Guaranty Corporation,

1200 K Street, NW., Washington, DC

20005, 202–326–4024 (202–326–4179

for TTY and TDD).

SUPPLEMENTARY INFORMATION: The

PBGC’s regulation on Allocation of

Assets in Single-Employer Plans (29

CFR part 4044) prescribes actuarial

assumptions for valuing plan benefits of

terminating single-employer plans

covered by title IV of the Employee

Retirement Income Security Act of 1974.

Among the actuarial assumptions

prescribed in part 4044 are interest

assumptions. These interest

assumptions are intended to reflect

current conditions in the financial and

annuity markets.

Two sets of interest assumptions are

prescribed, one set for the valuation of

benefits to be paid as annuities and one

set for the valuation of benefits to be

paid as lump sums. This amendment

adds to appendix B to part 4044 the

annuity and lump sum interest

assumptions for valuing benefits in

plans with valuation dates during

March 1997.

For annuity benefits, the interest

assumptions will be 6.20 percent for the

first 25 years following the valuation

date and 5.00 percent thereafter. For

benefits to be paid as lump sums, the