Page 19 - April 2018

https://www.gpo.gov/fdsys/pkg/FR-2018-04- requirement for retention agreements for owner-
02/pdf/2018-06665.pdf. Federal Register, Vol. 83, occupied units; further align the project monitoring
No. 63, 04/02/2018, 14105-14106. requirements with those of other federal government
funding programs; clarify the provisions on
• Treasury announced it seeks comment on the remediating AHP noncompliance; clarify certain
information collection Internal Revenue Service operational requirements; and streamline and
Advisory Council—Membership Application, reorganize the regulation. Comments are due
05/14/2018. The notice may be viewed at:
Information Reporting Program Advisory https://www.gpo.gov/fdsys/pkg/FR-2018-03-
Committee— Membership Application, and 14/pdf/2018-04745.pdf. Federal Register, Vol. 83,
Advisory Committee on Tax Exempt and No. 50, 03/14/2018, 11344-11390.
Government Entities—Membership Application.
Treasury also gave notice that it sent the FHFA Proposes Repeal of Certain
collection to OMB for review. Comments are Federal Housing Finance Board
due 06/01/2018. The notice may be viewed at: Regulations.
https://www.gpo.gov/fdsys/pkg/FR-2018-04-
02/pdf/2018-06675.pdf. Federal Register, Vol. FHFA proposed to repeal two parts of the of the
83, No. 63, 04/02/2018, 14106-14107. Federal Housing Finance Board (Finance Board)
regulations, one of which defines terms used in
• Treasury announced it seeks comment on the Finance Board regulations and one of which
information collection U.S. Income Tax Return describes the process by which the Finance Board
for Estates and Trusts. Treasury also gave notice conducted its monthly interest rate survey (MIRS).
that it sent the collection to OMB for review. The definitions to be repealed are either obsolete or
Comments are due 06/04/2018. The notice may duplicate definitions that FHFA has previously
be viewed at: adopted. The regulation relating to the MIRS has
https://www.gpo.gov/fdsys/pkg/FR-2018-04- become outdated because it does not accurately
04/pdf/2018-06892.pdf. Federal Register, Vol. describe the manner in which FHFA currently
83, No. 65, 04/04/2018, 14552-14553. conducts the survey. Although FHFA intends to
continue to conduct the MIRS in the same manner as
it is doing presently, there is no need to carry over
• Treasury announced it seeks comment on the this provision into its own regulations. FHFA also is
information collection Electronic Federal Tax proposing to repeal a number of subchapters of the
Payment System (EFTPS). Treasury also gave Finance Board regulations that it had previously
notice that it sent the collection to OMB for reserved, but which no longer serve any purpose
review. Comments are due 06/04/2018. The because they include no regulatory text. Comments
notice may be viewed at: are due 05/18/2018. The notice may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2018-04- https://www.gpo.gov/fdsys/pkg/FR-2018-04-
04/pdf/2018-06897.pdf. Federal Register, Vol. 03/pdf/2018-06564.pdf. Federal Register, Vol. 83,
83, No. 65, 04/04/2018, 14551-14552. No. 64, 14205-14207.

FHFA Proposes Amendments to FHFA Proposes Amendments to
Affordable Housing Program. Responsibilities of Boards of Directors,
Corporate Practices, and Corporate
The Federal Housing Finance Agency (FHFA) Governance.
proposed amendments to its regulation on the
Affordable Housing Program (AHP). The proposed FHFA proposed amendments to its regulation on the
amendments would provide the Federal Home Loan Responsibilities of Boards of Directors, Corporate
Banks (Banks) additional authority to allocate their Practices, and Corporate Governance for its regulated
AHP funds; authorize the Banks to establish special entities. The proposed rule would amend the existing
competitive funds that target specific affordable regulation pertaining to Federal Home Loan Bank
housing needs in their districts; provide the Banks strategic business plans so that it would apply as well
authority to design and implement their own project to the Enterprises, and would make a number of
selection scoring criteria, subject to meeting certain adjustments and conforming changes to the existing
FHFA-prescribed outcome requirements; remove the regulation. As amended, the regulation would require

APRIL 2018
16