Carryforward Election of Unused Private Activity Bond Volume Cap

Forms and Documents

Document Name	Status
Form 8328 Carryforward Election of Unused Private Activity Bond Volume Cap Form and Instruction	Modified
2019_SS_1545-0874.doc Supporting Statement A	2019-10-25

IC Document Collections

IC ID	Document Title	Status
17466	Carryforward Election of Unused Private Activity Bond Volume Cap Form and Instruction	Modified

ICR Details

OMB Control No: 1545-0874	ICR Reference No: 201909-1545-008
Status: Active	Previous ICR Reference No: 201611-1545-010
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Carryforward Election of Unused Private Activity Bond Volume Cap
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 03/18/2020
	Date Received in OIRA: 01/31/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved	03/31/2020
Responses	200	0	10,000
Time Burden (Hours)	2,644	0	132,200
Cost Burden (Dollars)	0	0	0

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Abstract: Section 146(f) of the Internal Revenue Code requires that issuing authorities of certain types of tax-exempt bonds must notify the IRS if they intend to carry forward the unused limitation for specific projects. The IRS uses the information to complete the required study of tax-exempt bonds (required by Congress).

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Authorizing Statute(s): US Code: 26 USC 146 Name of Law: Volume Cap
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 52593	10/02/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 5776	01/31/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Carryforward Election of Unused Private Activity Bond Volume Cap	8328	Carryforward Election of Unused Private Activity Bond Volume Cap

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	200	10,000	0	0	-9,800	0
Annual Time Burden (Hours)	2,644	132,200	0	0	-129,556	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: There are no changes to the forms or regulations at his time. However, the agency is updating the number of responses based on its most recent filing data. The number of estimated responses has decreased from 10,000 to 200 (a decrease of 9,800). The overall annual time burden was reduced by 129,556 based on the response changes (from 132,200 to 2,644).

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Annual Cost to Federal Government: $10,936

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 01/31/2020

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