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CFR Citation: 26 CFR Part 1

RIN ID: RIN 1545-BF08

REG ID: [REG-147290-05]

NOTICE: PROPOSED RULES

ACTION: Income taxes:

DOCUMENT ACTION: Notice of proposed rulemaking by cross reference to temporary regulations.

SUBJECT CATEGORY: Nuclear Decommissioning Funds

DATES: Written or electronic comments and requests for a public hearing must be received by March 31, 2008.

DOCUMENT SUMMARY: In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing temporary regulations under section 468A of the Internal Revenue Code relating to deductions for contributions to trusts maintained for decommissioning nuclear power plants. The temporary regulations reflect changes to the law made by the Energy Policy Act of 2005, and affect most taxpayers that own an interest in a nuclear power plant. The text of the temporary regulations also serves as the text of these proposed regulations.

SUMMARY: Nuclear decommissioning funds,

SUPPLEMENTAL INFORMATION

The collection of information contained in this notice of proposed [[Page 74214]]
rulemaking has been submitted to the Office of Management and Budget for review in accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. 3507(d)). OMB has approved, on a temporary basis, the information collections contained in the crossreferenced temporary rule under control number 15452091. Comments on the collection of information should be sent to the Office of Management and Budget, Attn: Desk Officer for the Department of the Treasury, Office of Information and Regulatory Affairs, Washington, DC 20503, with copies to the Internal Revenue Service, Attn: IRS Reports Clearance Officer,

FOR FURTHER INFORMATION CONTACT Concerning the regulations, Patrick S. Kirwan, (202) 6223110; concerning submissions and to request a hearing, Kelly Banks, (202) 6227180 (not tollfree numbers).