[Federal Register Volume 61, Number 71 (Thursday, April 11, 1996)]
[Rules and Regulations]
[Pages 16045-16046]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8975]
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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
24 CFR Part 811
[Docket No. FR-3985-C-02]
RIN 2502-AG64
Office of the Assistant Secretary for Housing-Federal Housing
Commissioner: Regulatory Reinvention; Tax Exemption of Obligations of
Public Housing Agencies and Related Amendments; Final Rule; Correction
AGENCY: Office of the Assistant Secretary for Housing-Federal Housing
Commissioner, HUD.
ACTION: Final rule; correction.
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SUMMARY: On April 1, 1996 (61 FR 14456), HUD published a final rule
streamlining its regulations governing the tax exemption of obligations
of public housing agencies. The preamble to the April 1, 1996 final
rule stated that HUD was removing subpart B of 24 CFR part 811.
However, the rule's regulatory text did not contain an amendatory
instruction removing this subpart. The purpose of this document is to
correct the April 1, 1996 final rule by removing 24 CFR part 811,
subpart B.
FOR FURTHER INFORMATION CONTACT: James Mitchell, Director, Financial
Services Division, Department of Housing and Urban Development, 470
L'Enfant Plaza East, room 3120, Washington, DC 20024, telephone number
(202) 708-7450, ext. 125 (this is not a toll-free number). For hearing-
and speech-impaired persons, this number may be accessed via TTY by
calling the Federal Information Relay Service at 1-800-877-8339.
SUPPLEMENTARY INFORMATION: On March 4, 1995, President Clinton issued a
memorandum to all Federal departments and agencies regarding regulatory
reinvention. In response to this memorandum, HUD conducted a page-by-
page review of its regulations to determine which could be eliminated,
consolidated, or otherwise improved. As part of this review, HUD
examined its regulations at 24 CFR part 811, which govern the tax
exemption of obligations of public housing agencies. HUD determined
that 24 CFR part 811 could be improved and streamlined by eliminating
unnecessary provisions.
On April 1, 1996 (61 FR 14456), HUD published a final rule which
streamlined part 811 by eliminating provisions that were redundant of
statutes or otherwise unnecessary. The program described in subpart B
of part 811, concerning the purchase of GNMA
[[Page 16046]]
guaranteed mortgage-backed securities with tax exempt obligations, had
never been implemented by HUD. Accordingly, the preamble to the April
1, 1996 final rule stated that HUD was removing this subpart. However,
the regulatory text of the final rule did not contain an amendatory
instruction removing 24 CFR part 811, subpart B. This document makes
the necessary correction.
Accordingly, FR-Doc. 7949, a final rule published in the Federal
Register on April 1, 1996 (61 FR 14456) is corrected by adding an
amendatory instruction number 13 to the end of the document on page
14463 to remove subpart B of 24 CFR part 811, to read as follows:
Subpart B--[Removed]
13. Subpart B, consisting of Secs. 811.201 through 811.211, is
removed.
Dated: April 5, 1996.
Camille E. Acevedo,
Assistant General Counsel for Regulations.
[FR Doc. 96-8975 Filed 4-10-96; 8:45 am]
BILLING CODE 4210-27-P
