Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices 55205 

Estimated Total Burden Hours: 1 

hour. 

OMB Number: 1545–1591. 

Type of Review: Extension. 

Title: Reg–251701–96 Electing Small 

Business Trusts. 

Description: This regulation provides 

the time and manner for making the 

Electing Small Business Trust election 

pursuant to section 1361 (e)(3). 

Respondents: Businesses and other 

for-profit institutions. 

Estimated Total Burden Hours: 7,500 

hours. 

OMB Number: 1545–1364. 

Type of Review: Revision. 

Title: EG–144615–02 (NPRM), 

Methods to Determine Taxable Income 

in Connection with a Cost Sharing 

Arrangement. 

Description: The collection of 

information related to the IRS’s 

assessment of whether a cost sharing 

arrangement is valid, and whether each 

participant’s share of costs is 

proportionate to the participants share 

of benefits, and whether arm’s length 

compensation has been paid to those 

participants providing external 

contributions such that an appropriate 

return is provided to those participants 

for putting their funds at risk to a greater 

extent than the other participants. 

Respondents: Businesses or other forprofit institutions. 

Estimated Total Burden Hours: 9,350 

hours. 

OMB Number: 1545–1005. 

Type of Review: Extension. 

Title: PS–62–87 (Final) Low-Income 

Housing Credit for Federally-Assisted 

Buildings. 

Description: The rule requires the 

taxpayer (low-income building owner) 

to seek a waiver in writing from the IRS 

concerning low-income buildings 

acquired during a special 10-year period 

in order to avert a claim against a 

Federal mortgage insurance fund. 

Respondents: Businesses or other forprofit institutions. 

Estimated Total Burden Hours: 3,000 

hours. 

OMB Number: 1545–0819. 

Type of Review: Extension. 

Title: 26 CFR 601.201 Instructions for 

Requesting Rulings and Determination 

Letters. 

Description: The National Office 

issues ruling letters and Area Directors 

issue determination letters to taxpayers 

interpreting and applying the tax laws 

to a specific set of facts. The National 

Office also issues other types of letters. 

The procedural regulations set forth the 

instructions for requesting ruling and 

determination letters. 

Respondents: Businesses or other forprofit institutions. 

Estimated Total Burden Hours: 

248,496 hours. 

OMB Number: 1545–1937. 

Type of Review: Extension. 

Title: Notice 2005–41, Guidance 

Regarding Qualified Intellectual 

Property Contributions. 

Description: This notice explains new 

section 170(e)(1)(B)(iii) and 170(m) as 

added by section 882 of the American 

Jobs Creation Act of 2004. Under section 

170(e)(1)(B)(iii), a donor’s initial 

charitable contribution deduction for a 

gift of qualified intellectual property is 

limited to the lesser of the donor’s 

adjusted basis is the property or its fair 

market value. Under section 170(m), the 

donor may claim additional deduction 

in subsequent years if the property 

produces income. 

Respondents: Businesses and other 

for-profit institutions. 

Estimated Total Burden Hours: 30 

hours. 

OMB Number: 1545–1936. 

Type of Review: Extension. 

Title: Revenue Procedure 2005–24, 

Waiver of Spousal Election. 

Description: This revenue procedure 

provides guidance on the procedures for 

waiving a spousal election right with 

respect to charitable remainder annuity 

trusts under section 664(d)(1) and 

charitable remainder unitrusts under 

section 664(d)(2) that are established 

after the date that is 90 days after the 

date the Rev. Proc. is published in the 

IRB. 

Respondents: Businesses or other forprofit institutions. 

Estimated Total Burden Hours: 

150,000 hours. 

OMB Number: 1545–1490. 

Type of Review: Extension. 

Title: FI–28–96 (Final) Arbitrage 

Restrictions on Tax-Exempt Bonds. 

Description: The recordkeeping 

requirements are necessary for the 

Service to determine that an issuer of 

tax-exempt bonds has not paid more 

than fair market value for nonpurpose 

investments under section 148 of the 

Internal Revenue Code. 

Respondents: State, Local, or Tribal 

Governments. 

Estimated Total Burden Hours: 1,425 

hours. 

Clearance Officer: Glenn P. Kirkland, 

(202) 622–3428, Internal Revenue 

Service, Room 6516, 1111 Constitution 

Avenue, NW., Washington, DC 20224. 

OMB Reviewer: Alexander T. Hunt, 

(202) 395–7316, Office of Management 

and Budget, Room 10235, New 

Executive Office Building, Washington, 

DC 20503. 

Robert Dahl, 

Treasury PRA Clearance Officer. 

[FR Doc. E8–22325 Filed 9–23–08; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Departmental Offices; Proposed 

Collections; Comment Requests 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork burdens, invites 

the general public and other Federal 

agencies to comment on the revision of 

an information collection that is 

proposed for approval by the Office of 

Management and Budget. The Office of 

International Affairs within the 

Department of the Treasury is soliciting 

comments concerning Treasury 

International Capital Form S, Purchases 

and Sales of Long-term Securities by 

Foreigners. 

DATES: Written comments should be 

received on or before November 24, 

2008 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Dwight Wolkow, International 

Portfolio Investment Data Systems, 

Department of the Treasury, Room 5422, 

1500 Pennsylvania Avenue NW., 

Washington, DC 20220. In view of 

possible delays in mail delivery, please 

also notify Mr. Wolkow by e-mail 

(dwight.wolkow@do.treas.gov), FAX 

(202–622–2009) or telephone (202–622– 

1276). 

FOR FURTHER INFORMATION CONTACT: 

Copies of the proposed forms and 

instructions are available on the 

Treasury’s TIC Forms Web page, http:// 

www.treas.gov/tic/forms.html. Requests 

for additional information should be 

directed to Mr. Wolkow. 

SUPPLEMENTARY INFORMATION: 

Title: Treasury International Capital 

Form S, Purchases and Sales of Longterm Securities by Foreigners. 

OMB Control Number: 1505–0001. 

Abstract: Form S is part of the 

Treasury International Capital (TIC) 

reporting system, which is required by 

law (22 U.S.C. 286f; 22 U.S.C. 3103; E.O. 

10033; 31 CFR part 128), and is 

designed to collect timely information 

on international portfolio capital 

movements. Form S is a monthly report 

used to cover transactions in long-term 

marketable securities undertaken 

DIRECTLY with foreigners by banks, 

other depository institutions, brokers, 


jlentini on PROD1PC65 with NOTICES
55206 Federal Register / Vol. 73, No. 186 / Wednesday, September 24, 2008 / Notices 

dealers, underwriting groups and other 

individuals and institutions. This 

information is necessary for compiling 

the U.S. balance of payments and 

international investment position 

accounts, and for formulating U.S. 

international financial and monetary 

policies. 

Current Actions: (a) Under the 

‘‘Grand Total’’ row (9999–6), an 

additional row will be added to record 

the total of transactions in asset-backedsecurities (ABS) that is included in the 

‘‘Grand Total’’ row. In the new row, 

entries will be required under the 

columns for ‘‘Bonds of U.S Gov’t 

Corporations and Federally-Sponsored 

Agencies’’, for ‘‘Corporate and Other 

Bonds’’, and for ‘‘Foreign Bonds’’ 

(columns 3,4,5,6,9,10). The new row 

will also be included in the addendum 

section of the form that covers 

transactions with foreign official 

institutions. The additional information 

will satisfy a minimum need for more 

timely information on such transactions. 

The information will increase the 

reporting burden modestly as compared 

with the alternative burden of adding 

new columns because columns would 

require the data by country. The 

additional information will move 

toward providing information already 

available in the less timely annual 

reports on holdings of securities. 

Comments from TIC respondents 

indicate that their computerized 

database systems can produce the data 

on ABS; (b) the instructions will be 

revised to cover the additional row 

proposed above; (c) the instructions will 

be revised to add coverage of reporting 

by prime brokers; (d) the instructions 

(section D of the General Instructions) 

will be revised to require that foreign 

currency transactions be converted to 

U.S. dollars as of the settlement date, 

instead of the current requirement to 

convert as of the report date; (e) the 

instructions (section F of the General 

Instructions) will be revised to require 

that data reporters, once the exemption 

level is exceeded, continue to report for 

the remainder of the current calendar 

year, instead of the current requirement 

to continue reporting for that period 

plus the following calendar year; and (d) 

these changes will be effective 

beginning with the reports as of March 

31, 2009. 

Type of Review: Revision of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. 

Form S (1505–0001) 

Estimated Number of Respondents: 

254 

Estimated Average Time per 

Respondent: Six hours per respondent 

per filing. This estimate includes 0.4 

hours for the Current Actions proposed 

above. The estimated average time per 

respondent varies from 10.8 hours for 

the approximately 30 major reporters to 

5.4 hours for the other reporters. 

Estimated Total Annual Burden 

Hours: 18,400 hours, based on 12 

reporting periods per year. 

Request 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. The 

public is invited to submit written 

comments concerning: (a) Whether 

Form S is necessary for the proper 

performance of the functions of the 

Office, including whether the 

information will have practical uses; (b) 

the accuracy of the above estimate of the 

burdens; (c) ways to enhance the 

quality, usefulness and clarity of the 

information to be collected; (d) ways to 

minimize the reporting and/or record 

keeping burdens on respondents, 

including the use of information 

technologies to automate the collection 

of the data; and (e) estimates of capital 

or start-up costs of operation, 

maintenance and purchase of services to 

provide information. 

Dwight Wolkow, 

Administrator, International Portfolio 

Investment Data Systems. 

[FR Doc. E8–22339 Filed 9–23–08; 8:45 am] 

BILLING CODE 4810–25–P 

DEPARTMENT OF THE TREASURY 

Establishment of Advisory Committee 

on the Ten Year Framework for Energy 

and Environment Cooperation With 

China and Request for Nominations 

AGENCY: Department of the Treasury, 

Departmental Offices. Office of the 

Special Envoy for China and the 

Strategic Economic Dialogue. 

ACTION: Notice of Intent to Establish and 

Request for Nominations. 

SUMMARY: The Department of the 

Treasury (the ‘‘Department’’) intends to 

establish the Advisory Committee on 

the Ten Year Framework for Energy and 

Environment Cooperation with China 

(the ‘‘Advisory Committee’’) to provide 

advice and recommendations on how 

best the United States can cooperate 

with China on shared energy and 

environmental challenges pursuant to 

the ‘‘Framework for the Ten Year 

Cooperation on the Energy and 

Environment between the Government 

of the United States of America and the 

Government of the People’s Republic of 

China’’ (signed on 6/18/08 in 

Washington, DC). The Department is 

seeking nominations of individuals to 

be considered for selection as Advisory 

Committee members, and names of 

professional and public interest groups 

that should be represented on the 

Committee. 

DATES: Nominations must be received 

before or on September 29, 2008. 

ADDRESSES: Nominations should be sent 

to mary.kertz@do.treas.gov or by hard 

copy to Advisory Committee on the Ten 

Year Framework for Energy and 

Environment Cooperation with China, 

Office of the Special Envoy for China 

and the Strategic Economic Dialogue, 

Department of the Treasury, Main 

Treasury Building, Room 1308, 1500 

Pennsylvania Avenue, NW., 

Washington, DC 20220. 

FOR FURTHER INFORMATION CONTACT: 

Mary Kertz, Special Advisor to 

Ambassador Alan Holmer, Office of the 

Special Envoy for China and the 

Strategic Economic Dialogue, 

Department of the Treasury, Main 

Treasury Building, Room 1308, 1500 

Pennsylvania Avenue, NW., 

Washington, DC 20220, (202) 622–2208 

(not a toll-free number). 

SUPPLEMENTARY INFORMATION: In 

accordance with the requirements of the 

Federal Advisory Committee Act, 5 

U.S.C. App., the Department is 

publishing this notice that the 

Department intends to establish the 

Advisory Committee. The Advisory 

Committee’s objective will be to provide 

advice and recommendations to the U.S. 

chair of the joint U.S.-China Steering 

Committee for Energy and Environment 

Cooperation (the ‘‘Joint Steering 

Committee’’), which is currently 

occupied by the Secretary of the 

Treasury. In particular, the Advisory 

Committee will make periodic 

recommendations to the U.S. chair of 

the Joint Steering Committee on the 

status of energy and environment 

cooperation with China; on prioritizing 

energy and environment challenges 

facing the United States and China; and 

on the means to further promote and 

enhance cooperation on energy and 

environment challenges that face both 

the United States and China through the 

Ten Year Framework. 

The charter will provide that the 

duties of the Advisory Committee shall 

be solely advisory and shall extend only 

to responding to requests from the U.S. 

Chair of the Joint Steering Committee, 

which is currently occupied by the 

Secretary of the Treasury. Such 

responses may be in the form of advice 


jlentini on PROD1PC65 with NOTICES