Federal Register / Vol. 62, No. 57 / Tuesday, March 25, 1997 / Proposed Rules 14051

to solicit comment on whether the

Commission should initiate a

rulemaking proceeding to repeal the Dry

Cell Battery Rule.

Part C—Alternative Actions

The Commission is not considering

any alternative other than the possibility

of repealing the Dry Cell Battery Rule.

Part D—Request for Comments

Members of the public are invited to

comment on any issues or concerns they

believe are relevant or appropriate to the

Commission’s review of the Dry Cell

Battery Rule. The Commission requests

that factual data upon which the

comments are based be submitted with

the comments. In this section, the

Commission identifies the issues on

which it solicits public comments. The

identification of issues is designed to

assist the public and should not be

construed as a limitation on the issues

on which public comment may be

submitted.

Questions

(1) Is there a continuing need for the

Rule?

(a) What benefits has the Rule

provided to purchasers of the products

affected by the Rule?

(b) Has the Rule imposed costs on

purchasers?

(2) What changes, if any, should be

made to the Rule to increase the benefits

of the Rule to purchasers?

(a) How would these changes affect

the costs the Rule imposes on firms

subject to its requirements?

(3) What significant burdens or costs,

including costs of compliance, has the

Rule imposed on firms subject to its

requirements?

(a) Has the Rule provided benefits to

such firms?

(4) What changes, if any, should be

made to the Rule to reduce the burdens

or costs imposed on firms subject to its

requirements?

(a) How would these changes affect

the benefits provided by the Rule?

(5) Does the Rule overlap or conflict

with other federal, state, or local laws or

regulations?

(6) Since the Rule was issued, what

effects, if any, have changes in relevant

technology or economic conditions had

on the rule?

(7) Are ‘‘leakproof’’ or ‘‘guaranteed

leakproof’’ representations by

manufacturers and marketers of dry cell

batteries a significant problem in the

marketplace?

(8) Should the Rule, or any portion of

it, be kept in effect, or should it be

repealed?

(9) How would repealing the Rule

affect the benefits experienced by

consumers?

(10) How would repealing the Rule

affect the benefits and burdens

experienced by firms subject to Rule’s

requirements?

(11) Does the existence of ANSI

Standard C18.1M–1992 for Dry Cell

Batteries eliminate or greatly lessen the

need for the Rule?

Authority: Section 18(d)(2)(B) of the

Federal Trade Commission Act, 15 U.S.C.

57a(d)(2)(B).

List of Subjects in 16 CFR Part 403

Advertising, Dry cell batteries,

Labeling, Trade practices.

By direction of the Commission.

Donald S. Clark,

Secretary.

[FR Doc. 97–7433 Filed 3–24–97; 8:45 am]

BILLING CODE 6750–01–M

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG–209785–95]

RIN 1545–AT97

Substantiation of Business Expenses

for Travel, Entertainment, Gifts and

Listed Property

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice of proposed rulemaking

by cross-reference to temporary

regulations.

SUMMARY: In the Rules and Regulations

section of this issue of the Federal

Register, the IRS is issuing temporary

regulations relating to the substantiation

requirements for business expenses for

travel, entertainment, gifts, or listed

property. The text of those temporary

regulations also serves as the text of

these proposed regulations.

DATES: Written or electronically

generated comments and requests for a

public hearing must be received by June

23, 1997.

ADDRESSES: Send submissions to

CC:DOM:CORP:R (REG–209785–95),

room 5228, Internal Revenue Service,

P.O. Box 7604, Ben Franklin Station,

Washington, DC 20044. In the

alternative, submissions may be hand

delivered between the hours of 8 a.m.

and 5 p.m. to CC:DOM:CORP:R (REG–

209785–95), Courier’s Desk, Internal

Revenue Service, 1111 Constitution

Avenue NW., Washington, DC, or

electronically, via the IRS Internet site

at: http://www.irs.ustreas.gov/prod/

taxlregs/comments.html.

FOR FURTHER INFORMATION CONTACT:

Concerning the regulations, contact

Donna M. Crisalli, (202) 622–4920;

concerning submissions, contact

Christina Vasquez, (202) 622–7190 (not

toll-free numbers).

SUPPLEMENTARY INFORMATION

Paperwork Reduction Act

The collection of information

contained in this notice of proposed

rulemaking has been submitted to the

Office of Management and Budget for

review in accordance with the

Paperwork Reduction Act of 1995 (44

U.S.C. 3507). Comments on the

collection of information should be sent

to the Office of Management and

Budget, Attn: Desk Officer for the

Department of the Treasury, Office of

Information and Regulatory Affairs,

Washington, DC 20503, with copies to

the Internal Revenue Service, Attn: IRS

Reports Clearance Officer, T:FP,

Washington, DC 20224. Comments on

the collection of information should be

received by May 27, 1997.

Comments are specifically requested

concerning: Whether the proposed

collection of information is necessary

for the proper performance of the

functions of the Internal Revenue

Service, including whether the

information will have practical utility;

The accuracy of the estimated burden

associated with the proposed collection

of information (see below);

How the quality, utility, and clarity of

the information to be collected may be

enhanced;

How the burden of complying with

the proposed collection of information

may be minimized, including through

the application of automated collection

techniques or other forms of information

technology; and

Estimates of capital or start-up costs

and costs of operation, maintenance,

and purchase of service to provide

information.

The collection of information in this

notice of proposed rulemaking is in

§ 1.274–5T(c)(2) and (f)(4). This

information is required by the IRS as a

condition for a taxpayer to deduct

certain business expenses or exclude

from income certain reimbursed

business expenses of employees. This

information will be used to determine

whether a taxpayer properly qualifies

for a deduction or exclusion. The

collection of information is required in

order to deduct certain business

expenses or exclude from income

certain reimbursed business expenses of
14052 Federal Register / Vol. 62, No. 57 / Tuesday, March 25, 1997 / Proposed Rules

employees. The likely respondents and

recordkeepers are individuals, business

or other for-profit institutions, state or

local governments, federal agencies, and

nonprofit institutions.

Estimated total annual reporting and

recordkeeping burden: 36,920,000

hours.

The estimated annual burden per

respondent or recordkeeper varies from

10 minutes to 20 hours, depending on

individual circumstances, with an

estimated average of 1.3 hours.

Estimated number of respondents and

recordkeepers: 28,400,000.

Estimated annual frequency of

responses: On occasion.

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 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.

Special Analyses

It has been determined that this notice

of proposed rulemaking is not a

significant regulatory action as defined

in EO 12866. Therefore, a regulatory

assessment is not required. It is hereby

certified that these regulations do not

have a significant economic impact on

a substantial number of small entities.

This certification is based on the fact

that, by increasing the receipt threshold

from $25 to $75, these regulations are

expected to reduce the existing

recordkeeping requirements of

taxpayers, including small entities, from

49,375,000 hours to 36,920,000 hours.

The regulations do not otherwise

significantly alter the reporting or

recordkeeping duties of small entities.

Therefore, a Regulatory Flexibility

Analysis under the Regulatory

Flexibility Act (5 U.S.C. chapter 6) is

not required. Pursuant to section 7805(f)

of the Internal Revenue Code, this

notice of proposed rulemaking will be

submitted to the Chief Counsel for

Advocacy of the Small Business

Administration for comment on its

impact on small business.

Comments and Requests for a Public

Hearing

Before adopting these proposed

regulations as final regulations,

consideration will be given to any

comments that are submitted timely

(and in the manner described in

ADDRESSES portion of this preamble)

to the IRS. The IRS is considering

publishing a revenue procedure

implementing § 1.274–5T(f)(4)(ii) of the

temporary regulations (that is,

prescribing rules under which an

employee may make an adequate

accounting to his employer by

submitting an expense voucher or

equivalent without submitting

documentary evidence such as receipts)

for federal government agencies that use

the published procedures. In addition,

the IRS is considering whether there are

circumstances or conditions under

which the IRS could extend these

procedures beyond federal government

agencies, and requests comments in this

regard. The IRS also requests comments

on what procedures (such as internal

controls) should be required in any

rules that permit a taxpayer to satisfy

the substantiation requirements of

section 274(d) for purposes of deducting

business expenses reimbursed to

employees who have accounted for their

expenses only by means of an expense

voucher or equivalent without

documentary evidence such as receipts.

All comments will be available for

public inspection and copying. A public

hearing will be scheduled and held

upon written request by any person who

submits written comments on the

proposed rules. Notice of the time and

place for the hearing will be published

in the Federal Register.

Drafting Information

The principal author of these

proposed regulations is Donna M.

Crisalli, Office of the Assistant Chief

Counsel (Income Tax and Accounting).

However, personnel from other offices

of the IRS and Treasury Department

participated in their development.

List of Subjects in 26 CFR Part 1

Income taxes, Reporting and

recordkeeping requirements.

Proposed Amendments to the

Regulations

Accordingly, 26 CFR part 1 is

proposed to be amended as follows:

PART 1—INCOME TAXES

Paragraph 1. The authority citation

for part 1 is amended by adding an entry

to read in part as follows:

Authority: 26 U.S.C. 7805 * * *

Section 1.274–5 also issued under 26

U.S.C. 274(d). * * *

Par. 2. Section 1.274–5 is added to

read as follows:

§ 1.274–5 Substantiation requirements.

(a) through (c)(2)(iii)(A) [Reserved].

For further guidance, see § 1.274–5T.

(c)(2)(iii)(B) [The text of paragraph

(c)(2)(iii)(B) is the same as the text in

§ 1.274–5T published elsewhere in this

issue of the Federal Register].

(c)(2)(iv) through (f)(3) [Reserved]. For

further guidance, see § 1.274–5T.

(f)(4) through (f)(4)(iii) [The text of

paragraphs (f)(4) through (f)(4)(iii) is the

same as the text in § 1.274–5T published

elsewhere in this issue of the Federal

Register].

(f)(5) through (1) [Reserved]. For

further guidance, see § 1.274–5T.

Margaret Milner Richardson,

Commissioner of Internal Revenue.

[FR Doc. 97–7094 Filed 3–24–97; 8:45 am]

BILLING CODE 4830–01–U

FEDERAL MEDIATION AND

CONCILIATION SERVICE

29 CFR Part 1404

Arbitration Policy; Roster of

Arbitrators, and Procedures for

Arbitration Services

AGENCY: Federal Mediation and

Conciliation Service.

ACTION: Correction to proposed rule.

SUMMARY: A proposed rule on

arbitration policy contained an error in

page costs. This document is intended

to correct that error.

FOR FURTHER INFORMATION CONTACT:

Peter L. Regner, (202) 606–8181.

SUPPLEMENTARY INFORMATION: In

proposed rule document 97–6305

beginning on page 11797, in the Federal

Register issue of Thursday, March 13,

1997, make the following correction:

In the appendix to 29 CFR Part 1404

on page 11805, under ‘‘List and

biographical sketches of arbitrators in

specific areas’’, the term ‘‘$10 per page’’

should read ‘‘$.10 per page’’.

John Calhoun Wells,

Director.

[FR Doc. 97–7463 Filed 3–24–97; 8:45 am]

BILLING CODE 6732–01–M

DEPARTMENT OF THE INTERIOR

Minerals Management Service

30 CFR Part 253

RIN 1010–AC33

Oil Spill Financial Responsibility for

Offshore Facilities

AGENCY: Minerals Management Service

(MMS), Interior.

ACTION: Notice of proposed rulemaking.