Federal Register / Vol. 66, No. 244 / Wednesday, December 19, 2001 / Notices 65531

Estimated Number of Respondents: 1.

Estimated Burden Hours Per

Respondent: 1 hour.

Frequency of Response: On occasion.

Estimated Total Reporting Burden: 1

hour.

OMB Number: 1545–1642.

Regulation Project Number: REG–

104072–97 Final.

Type of Review: Extension.

Title: Recharacterizing Financing

Arrangements Involving Fast-Pay Stock.

Description: Section 1.7701(1)–3

recharacterizes fast-pay arrangements.

Certain participants in such

arrangements must file a statement that

includes the name of the corporation

that issued the fast-pay stock, and (to

the extent the filing taxpayer knows or

has reason to know) the terms of the

fast-pay stock, the date on which it was

issued, and the names and taxpayer

identification numbers of any

shareholders of any class of stock that

is not traded on an established

securities market.

Respondents: Business or other forprofit.

Estimated Number of Respondents:

50.

Estimated Burden Hours Per

Respondent: 1 hour.

Frequency of Response: Annually.

Estimated Total Reporting Burden: 50

hours.

Clearance Officer: George Freeland,

Internal Revenue Service, Room 5577,

1111 Constitution Avenue, NW.,

Washington, DC 20224

OMB Reviewer: Alexander T. Hunt,

(202) 395–7860, Office of

Management and Budget, Room

10202, New Executive Office

Building, Washington, DC 20503.

Mary A. Able,

Departmental Reports, Management Officer.

[FR Doc. 01–31191 Filed 12–18–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF VETERANS

AFFAIRS

[OMB Control No. 2900–0320]

Proposed Information Collection

Activity: Proposed Collection;

Comment Request

AGENCY: Veterans Benefits

Administration, Department of Veterans

Affairs.

ACTION: Notice.

SUMMARY: The Veterans Benefits

Administration (VBA), Department of

Veterans Affairs (VA), is announcing an

opportunity for public comment on the

proposed collection of certain

information by the agency. Under the

Paperwork Reduction Act (PRA) of

1995, Federal agencies are required to

publish notice in the Federal Register

concerning each proposed collection of

information, including each proposed

extension of a currently approved

collection, and allow 60 days for public

comment in response to the notice. This

notice solicits comments for information

needed to allow veterans to gain

occupancy of property when specified

exterior onsite improvements must be

postponed because of bad weather.

DATES: Written comments and

recommendations on the proposed

collection of information should be

received on or before February 19, 2002.

ADDRESSES: Submit written comments

on the collection of information to

Nancy J. Kessinger, Veterans Benefits

Administration (20S52), Department of

Veterans Affairs, 810 Vermont Avenue,

NW, Washington, DC 20420 or e-mail:

irmnkess@vba.va.gov. Please refer to

‘‘OMB Control No. 2900–0320’’ in any

correspondence.

FOR FURTHER INFORMATION CONTACT:

Nancy J. Kessinger at (202) 273–7079 or

FAX (202) 275–5947.

SUPPLEMENTARY INFORMATION: Under the

PRA of 1995 (Public Law 104–13; 44

U.S.C., 3501–3520), Federal agencies

must obtain approval from the Office of

Management and Budget (OMB) for each

collection of information they conduct

or sponsor. This request for comment is

being made pursuant to Section

3506(c)(2)(A) of the PRA.

With respect to the following

collection of information, VBA invites

comments on: (1) Whether the proposed

collection of information is necessary

for the proper performance of VBA’s

functions, including whether the

information will have practical utility;

(2) the accuracy of VBA’s estimate of the

burden of the proposed collection of

information; (3) ways to enhance the

quality, utility, and clarity of the

information to be collected; and (4)

ways to minimize the burden of the

collection of information on

respondents, including through the use

of automated collection techniques or

the use of other forms of information

technology.

Title: Escrow Agreement for

Postponed Exterior Onsite

Improvements, VA Form 26–1849.

OMB Control Number: 2900–0320.

Type of Review: Extension of a

currently approved collection.

Abstract: VA Form 26–1849 is

provided as a service to veterans,

builders/sellers, and escrow agents to be

used in situations involving escrows. A

VA loan amount cannot exceed the

reasonable value of the property as

determined by the Secretary of Veterans

Affairs. The reasonable value is

predicated on the completion of all

improvements. In certain circumstances,

such as adverse weather or other

specified unavoidable conditions, the

completion of some improvements may

have to be postponed. For these

situations, VA has developed escrow

procedures whereby a builder/seller

deposits at least one and one-half times

the cost of completing the

improvements into an escrow account

held by a third party. The funds can

only be used for the purpose of finishing

the postponed improvements and are

released when the improvements have

been completed. These escrow

procedures provide incentive to builder/

sellers to complete all postponed

improvements and are standard

practices in both the real estate and

mortgage lending fields.

Affected Public: Individuals or

households and business or other forprofit.

Estimated Annual Burden: 1 hour.

Estimated Average Burden Per

Respondent: 30 minutes.

Frequency of Response: On occasion.

Estimated Number of Respondents:

10,000.

Dated: December 4, 2001.

By direction of the Secretary.

Donald L. Neilson,

Director, Information Management Service.

[FR Doc. 01–31227 Filed 12–18–01; 8:45 am]

BILLING CODE 8320–01–P

DEPARTMENT OF VETERANS

AFFAIRS

[OMB Control No. 2900–0394]

Agency Information Collection

Activities Under OMB Review

AGENCY: Veterans Benefits

Administration, Department of Veterans

Affairs.

ACTION: Notice.

SUMMARY: In compliance with the

Paperwork Reduction Act (PRA) of 1995

(44 U.S.C., 3501 et seq.), this notice

announces that the Veterans Benefits

Administration (VBA), Department of

Veterans Affairs, has submitted the

collection of information abstracted

below to the Office of Management and

Budget (OMB) for review and comment.

The PRA submission describes the

nature of the information collection and

its expected cost and burden; it includes

the actual data collection instrument.