[Federal Register Volume 61, Number 166 (Monday, August 26, 1996)]
[Rules and Regulations]
[Pages 43656-43657]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-21546]
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DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Part 214
RIN 1510-AA54
Depositaries for Federal Taxes
AGENCY: Financial Management Service, Fiscal Service, Treasury.
ACTION: Final rule.
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SUMMARY: This action removes Part 214 from Title 31 of the Code of
Federal Regulations. Part 214 governed the designation of financial
institutions as depositaries for Federal taxes and the handling of
deposits of Federal taxes by such depositaries and by Federal Reserve
Banks. A Notice of Proposed Rule Making published October 27, 1992,
proposed to combine portions of this part with 31 CFR Part 203
``Treasury Tax and Loan Depositaries'' and to eliminate Part 214.
Regulations published on July 1, 1993, incorporated the relevant
provisions of Part 214 into Part 203. Part 214 should have been removed
at that time. This action corrects that oversight.
EFFECTIVE DATE: September 25, 1996.
ADDRESS: Cash Management Policy and Planning Division, Financial
Management Service, U.S. Department of the Treasury, Room 420, Liberty
Center, 401 14th Street, S.W., Washington, DC 20227.
FOR FURTHER INFORMATION CONTACT: Donald E. Clark (202) 874-7106
(Financial Program Specialist).
SUPPLEMENTARY INFORMATION:
Background
On October 27, 1992, the Fiscal Service published a Notice of
Proposed Rule Making to remove Part 214 and to revise sections of Part
203 of Title 31 of the Code of Federal Regulations. No comments on the
proposed rule were received. Accordingly, on July 1, 1993, portions of
this regulation were incorporated into Part 203 ``Treasury Tax and Loan
Depositaries.'' (58 FR 35395). Part 214 should have been removed at
that time. This action rectifies that oversight.
Rulemaking Analysis
Treasury has determined that this regulation is not a significant
regulatory action as defined in Executive Order 12866. Accordingly, a
regulatory assessment is not required. It is hereby certified that this
revision will not have a significant economic impact on a substantial
number of small entities. Because the provisions of Part 214, here
being eliminated, are duplicative of those contained in Part 203, there
will not be a significant economic impact on a substantial number of
small entities. Accordingly, a regulatory flexibility analysis is not
required.
List of Subjects in 31 CFR Part 214
Banks, Banking, Taxes.
For the reasons set out in the preamble and under the authority of
31 U.S.C. 321, 31 CFR Part 214 is removed.
[[Page 43657]]
Dated: August 15, 1996.
Russell D. Morris,
Commissioner.
[FR Doc. 96-21546 Filed 8-23-96; 8:45 am]
BILLING CODE 4810-35-P
