SECTION 8. PAPERWORK

REDUCTION ACT

The information collection contained in this notice has been approved by the Office of Management and Budget (OMB) in accordance with the Paperwork Reduction Act (44 U.S.C. chapter 35) under control number 1545–2143. Under the Paperwork Reduction Act, 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 OMB control number.

The collections of information in this notice are in Section 5. The information is required in order to inform the Treasury Department and the IRS of expected future direct payments on Build America Bonds. This information will be used to determine the expected amount of future direct payments on Build America Bonds. The collections of information are mandatory. The likely respondents are state or local governmental issuers of Build America Bonds.

We estimate the total number of respondents to be 1,000 and the total annual responses to be 5,000. We estimate it will take 3 hours to comply. Estimates of the annualized cost to respondents for the hour burdens shown are not available at this time.

Books or records relating to a collection of information must be retained as long as their contents may become material in the administration of any internal revenue law. Generally, tax returns and return information are confidential, as required by 26 U.S.C. 6103.