Endowment Excise Tax: Allocation Reduction Waiver

Forms and Documents

Document Name	Status
Endowment Excise Tax: Allocation Reduction Waiver Form and Instruction	New
Endowment Excise Tax: Allocation Reduction Waiver Form and Instruction	New
Endowment Tax Waiver Emergency Memo.docx Supplementary Document	2021-07-07
Endowment Tax Waiver Supporting Statement.docx Supporting Statement A	2021-07-07

IC Document Collections

IC ID	Document Title	Status
248083	Endowment Excise Tax: Allocation Reduction Waiver Form and Instruction	New
248082	Endowment Excise Tax: Allocation Reduction Waiver Form and Instruction	New

ICR Details

OMB Control No:	ICR Reference No: 202106-1840-003
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: ED/OPE	Agency Tracking No:
Title: Endowment Excise Tax: Allocation Reduction Waiver
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 07/26/2021
Date Submitted to OIRA: 07/07/2021

	Requested	Previously Approved
Expiration Date	6 Months From Approved
Responses	200	0
Time Burden (Hours)	200	0
Cost Burden (Dollars)	0	0

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Abstract: In accordance with the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA), Pub. L. 116-260, section 314(d)(6)(B), the Secretary may waive the requirements to reduce a grantee’s CRRSAA allocation by 50 percent, if upon application, an institution of higher education demonstrates need (including need for additional funding for financial aid grants to students, payroll expenses, or other expenditures) for the total amount of funds such institution is allocated under section 314(a)(1) of CRRSAA. The proposed form provides institutions with the opportunity to request this waiver and collects data needed to evaluate their waiver request.

Emergency Justfication: If this emergency collection is not approved, the Department will be unable to receive and review waiver requests in a timely manner, delaying the release of funds to institutions of higher education and students that are still recovering from the effects of the pandemic.

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Authorizing Statute(s): PL: Pub.L. 116 - 260 314(d)(6)(B) Name of Law: Coronavirus Response and Relief Supplemental Appropriations Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Endowment Excise Tax: Allocation Reduction Waiver	NA	Endowment Tax Waiver Form
Endowment Excise Tax: Allocation Reduction Waiver	NA	Endowment Tax Waiver Form

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	200	0	0	200	0	0
Annual Time Burden (Hours)	200	0	0	200	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This is a new collection.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Yes

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/07/2021

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