Election Involving the Repeal of the Bonding Requirement and Notification of Increase of Tax under § 42(j)(6)

Forms and Documents

Document Name	Status
Rev. Proc. 2012-27.pdf Supplementary Document	2022-02-28
RP 2008-60.pdf Supplementary Document	2022-02-28
SUP STAT (1545-2120)-Final.docx Supporting Statement A	2025-06-10

IC Document Collections

IC ID	Document Title	Status
190868	RP 2012-27 - Notification of Increase of Tax under § 42(j)(6)	Unchanged
186600	RP 2008-60 - Election Involving the Repeal of the Bonding Requirement under § 42(j)(6)	Unchanged

ICR Details

OMB Control No: 1545-2120	ICR Reference No: 202502-1545-016
Status: Received in OIRA	Previous ICR Reference No: 202202-1545-005
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Election Involving the Repeal of the Bonding Requirement and Notification of Increase of Tax under § 42(j)(6)
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 06/30/2025

	Requested	Previously Approved
Expiration Date	36 Months From Approved	06/30/2025
Responses	7,810	7,810
Time Burden (Hours)	7,810	7,810
Cost Burden (Dollars)	0	0

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Abstract: This revenue procedure affects taxpayers who are maintaining a surety bond or a Treasury Direct Account (TDA) to satisfy the low-income housing tax credit recapture exception in § 42(j)(6) of the Internal Revenue Code, as in effect on or before July 30, 2008. This revenue procedure provides the procedures for taxpayers to follow when making the election under section 3004(i)(2)(B)(ii) of the Housing Assistance Tax Act of 2008 (Pub. L. 110–-289) to no longer maintain a surety bond or a TDA to avoid recapture.

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Authorizing Statute(s): US Code: 26 USC 42(j)(6) Name of Law: No recapture on disposition of building (or interest therein) where bond posted
   PL: Pub.L. 110 - 289 3004(i)(2)(B)(ii) Name of Law: Housing Assistance Tax Act of 2008
  

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:
	90 FR 11207	03/04/2025
30-day Notice:	Federal Register Citation:	Citation Date:
	90 FR 27391	06/26/2025
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
RP 2008-60 - Election Involving the Repeal of the Bonding Requirement under § 42(j)(6)
RP 2012-27 - Notification of Increase of Tax under § 42(j)(6)

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ICR Summary of Burden

	Total Request	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	7,810	7,810	0	0	0	0
Annual Time Burden (Hours)	7,810	7,810	0	0	0	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:

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Annual Cost to Federal Government: $0

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.     No

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? No

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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: 06/30/2025

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