[Federal Register Volume 62, Number 105 (Monday, June 2, 1997)]
[Proposed Rules]
[Pages 29681-29682]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-14307]
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DEPARTMENT OF THE TREASURY
Bureau of Alcohol, Tobacco and Firearms
27 CFR Part 24
[Notice No. 852]
RIN 1512-AB65
Implementation of Public Law 104-188, Section 1702, Amendments
Related to Revenue Reconciliation Act of 1990 (96R-028T)
AGENCY: Bureau of Alcohol, Tobacco and Firearms (ATF), Department of
the Treasury.
ACTION: Notice of proposed rulemaking cross referenced to temporary
regulations.
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SUMMARY: In the Rules and Regulations portion of this Federal Register,
the Bureau of Alcohol, Tobacco and Firearms (ATF) is issuing temporary
regulations to implement section 1702 the Small Business Job Protection
Act of 1996. The new law changed the small producers' wine tax credit
and wine bond provisions of the Internal Revenue Code of 1986. The wine
regulations are amended to extend the application of the credit to
``transferees in bond'' (proprietors who store wine for a small
producer, but who do not hold title to such wine) in certain
circumstances, and to make conforming changes to the bond computation
instructions, which were also affected by the law change. In this
notice of proposed rulemaking, ATF invites comments on the temporary
rule.
DATES: Written comments must be received on or before August 1, 1997.
ADDRESSES: Send written comments to: Chief, Wine, Beer & Spirits
Regulations Branch, Bureau of Alcohol, Tobacco and Firearms, P.O. Box
50221, Washington, DC 20091-0221, Attention: Notice Number 852.
FOR FURTHER INFORMATION CONTACT: Marjorie D. Ruhf, Wine, Beer & Spirits
Regulations Branch, 650 Massachusetts Avenue, NW, Washington, DC 20226,
(202) 927-8230.
SUPPLEMENTARY INFORMATION:
Executive Order 12866
It has been determined that this proposed rule is not a significant
regulatory action as defined by Executive Order 12866, because the
economic effects flow directly from the underlying statue and not from
the proposed regulations. Therefore, a regulatory assessment is not
required.
Regulatory Flexibility Act
It is hereby certified that these proposed regulations will not
have a significant economic impact on a substantial number of small
entities. Accordingly, a regulatory flexibility analysis is not
required. The revenue effects of this rulemaking on small businesses
flow directly from the underlying statute. Likewise, any secondary or
incidental effects, and any reporting, recordkeeping, or other
compliance burdens flow directly from the statute. Pursuant to 26
U.S.C. 7805(f), this proposed regulation will be submitted to the Chief
Counsel for Advocacy of the Small Business Administration for comment
on its impact on small business.
Paperwork Reduction Act
The collections of information contained in this notice of proposed
rulemaking have been submitted to the Office of Management and Budget
(OMB) for review in accordance with the Paperwork Reduction Act of 1995
(44 U.S.C. 3507(d)). Comments on the collections of information should
be sent to the Office of Management and Budget, Attention: Desk Officer
for the Department of the Treasury, Bureau of Alcohol, Tobacco and
Firearms, Office of Information and Regulatory Affairs, Washington,
D.C., 20503, with copies to the Bureau of Alcohol, Tobacco and Firearms
at the address previously specified. Comments are specifically
requested concerning:
Whether the proposed collections of information are necessary for
the proper performance of the functions of the Bureau of Alcohol,
Tobacco and Firearms, including whether the information will have
practical utility; he accuracy of the estimated burden associated with
the proposed collections of information (see below);
How the quality, utility, and clarity of the information to be
collected may be enhanced; and
How the burden of complying with the proposed collections of
information may be minimized, including through the application of
automated collection techniques or other forms of information
technology.
[[Page 29682]]
The collections of information in this proposed regulation are in
27 CFR Secs. 24.278 and 24.279 (OMB control numbers 1512-0540 and 1512-
0492, respectively). This information is required to advise the
transferee of any available credit, and to support entries on tax
returns and claims. This information will be used by the transferee and
the small producer to compute taxes or claims and may also be reviewed
by ATF during an audit to confirm that wine tax credits were properly
taken. The collections of information are required to obtain a benefit
(reduced rate of tax). The likely recordkeepers are businesses and
small businesses.
Since this collection of information involves a disclosure
(consisting of shipping instructions from the producer-owner of the
wine to the transferee) and recordkeeping which must take place for
commercial reasons unrelated to the regulatory requirement, ATF
estimates a burden of 1 hour for OMB control number 1512-0540
(information collected in support of small producer's wine tax credit).
The estimated total annual recordkeeping burden associated OMB control
number 1512-0492 (usual and customary records kept in support of tax
returns and claims) will not increase.
Estimated number or respondents and/or recordkeepers: 30
transferees in bond and 250 small producers.
No reports are required as part of these regulations.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a valid
control number assigned by the Office of Management and Budget.
Public Participation
ATF requests comments on the temporary regulations from all
interested persons. Comments received on or before the closing date
will be carefully considered. Comments received after that date will be
given the same consideration if it is practicable to do so, but
assurance of consideration cannot be given except as to comments
received on or before the closing date.
Comments may be submitted by facsimile transmission (FAX) to (202)
927-8602, provided the comments: (1) Are legible, (2) are 8\1/2\'' x
11'' in size, (3) contain a written signature, and (4) are three pages
or less in length. This limitation is necessary to assure reasonable
access to the equipment. Comments sent by FAX in excess of three pages
will not be accepted. Receipt of FAX transmittals will not be
acknowledged. Facsimile transmitted comments will be treated as
originals.
ATF will not recognize any material in comments as confidential.
Comments may be disclosed to the public. Any material which the
commenter considers to be confidential or inappropriate for disclosure
to the public should not be included in the comment. The name of the
person submitting the comment is not exempt from disclosure. During the
comment period, any person may request an opportunity to present oral
testimony at a public hearing. However, the Director reserves the
right, in light of all circumstances, to determine if a public hearing
is necessary.
The temporary regulations in this issue of the Federal Register
amend the regulations in 27 CFR Part 24. For the text of the temporary
regulations see T.D. ATF-390 published in the Rules and Regulations
section of this issue of the Federal Register.
Drafting Information: The principal author of this document is
Marjorie D. Ruhf, Wine, Beer & Spirits Regulations Branch, Bureau of
Alcohol, Tobacco and Firearms.
John W. Magaw,
Director.
Approved: January 3, 1997.
Dennis M. O'Connell,
Acting Deputy Assistant Secretary (Regulatory, Tariff and Trade
Enforcement).
[FR Doc. 97-14307 Filed 5-30-97; 8:45 am]
BILLING CODE 4810-31-P
