Financial Crimes Enforcement Network; Amendment to the Bank Secrecy Act Regulations—Imposition of Special Measure Against Multibanka

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 control number assigned by the Office of Management and Budget. 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 tax return information are confidential, as required by 26 U.S.C. 6103. Background Temporary regulations in the Rules and Regulations section of this issue of the Federal Register amend Manufacturers and Retailers Excise Taxes Regulations (26 CFR part 48) under sections 4082 and 4101. The temporary regulations set forth requirements regarding the mechanical dye injection systems for diesel fuel and kerosene and are required by the American Jobs Creation Act of 2004. The text of those temporary regulations also serves as the text of these proposed regulations. The preamble to the temporary regulations explains the temporary regulations. Special Analyses It has been determined that this notice of proposed rulemaking is not a significant regulatory action as defined in Executive Order 12866. Therefore, a regulatory flexibility assessment is not required. It also has been determined that section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to these regulations. It is hereby certified that the collection of information in these regulations will not have a significant economic impact on a substantial number of small entities. This certification is based on the fact that the time required to maintain the required records and report to the IRS is minimal and will not have a significant impact on those small entities. Therefore, a Regulatory Flexibility Analysis under the Regulatory Flexibility Act (5 U.S.C.
chapter 6) is not required. Pursuant to
section 7805(f) of the Internal Revenue
Code, this notice of proposed rulemaking will be submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on its impact on small business. Comments and Public Hearing Before these proposed regulations are adopted as final regulations, consideration will be given to any written (a signed original and eight (8) copies) or electronic comments that are submitted timely to the IRS. All comments will be available for public inspection and copying. A public hearing has been scheduled for July 19, 2005, at 10 a.m. in the IRS Auditorium, Internal Revenue Building, 1111 Constitution Ave., NW., Washington, DC. All visitors must present photo identification to enter the building. Because of access restrictions, visitors will not be admitted beyond the immediate entrance area at the Constitution Avenue entrance more than 30 minutes before the hearing starts. For information about having your name placed on the building access list to attend the hearing, see the FOR FURTHER INFORMATION CONTACT
section of this preamble.
The rules of 26 CFR 601.601(a)(3) apply to the hearing. Persons who wish to present oral comments at the hearing must submit written comments and an outline of the topics to be discussed and the time to be devoted to each topic (signed original and eight copies (8) copies) by June 27, 2005. A period of 10 minutes will be allotted to each person for making comments. An agenda showing the scheduling of speakers will be prepared after the deadline for receiving outlines has passed. Copies of the agenda will be available free of charge at the hearing. Drafting Information The principal author of these regulations is William Blodgett, Office of Associate Chief Counsel (Passthroughs and Special Industries), IRS. However, other personnel from the IRS and Treasury Department participated in their development. List of Subjects in 26 CFR Part 48 Excise taxes, Reporting and recordkeeping requirements. Proposed Amendments to the Regulations Accordingly, 26 CFR part 48 is proposed to be amended as follows:
PART 48—MANUFACTURERS AND
RETAILERS EXCISE TAXES Paragraph 1. The authority citation for part 48 continues to read, in part, as follows:
Authority: 26 U.S.C. 7805 * * * Par. 2. In § 48.4082–1, paragraphs (d) and (e)(2) are revised to read as follows:
§ 48.4082–1 Diesel fuel and kerosene; exemption for dyed fuel.

(d) [The text of this proposed paragraph (d) is the same as the text of § 48.4082–1T(d) published elsewhere in this issue of the Federal Register]. (e) * * * (e)(2) [The text of this proposed paragraph (e)(2) is the same as the text of § 48.4082–1T(e)(2) published elsewhere in this issue of the Federal Register]. Par. 3. Section 48.4101–1 is amended by revising paragraph (h)(3)(iv) to read as follows:
§ 48.4101–1 Taxable Fuel; registration.

(h) * * *
(3) * * *
(iv) [The text of this proposed paragraph (h)(3)(iv) is the same as the text of § 48.4101–1T(h)(3)(iv) published elsewhere in this issue of the Federal Register]. Cono R. Namorato, Acting Deputy Commissioner for Services and Enforcement. [FR Doc. 05–8235 Filed 4–25–05; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY 31 CFR Part 103 RIN 1506–AA81 Financial Crimes Enforcement Network; Amendment to the Bank Secrecy Act Regulations—Imposition of Special Measure Against Multibanka AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Notice of proposed rulemaking. SUMMARY: FinCEN is issuing this notice of proposed rulemaking to impose a special measure against joint stock company Multibanka (Multibanka) as a financial institution of primary money laundering concern, pursuant to the authority contained in 31 U.S.C. 5318A. DATES: Written comments on the notice of proposed rulemaking must be submitted on or before May 26, 2005. ADDRESSES: You may submit comments, identified by RIN 1506–AA81, by any of the following methods:

• Federal e-rulemaking Portal: http://
  www.regulations.gov. Follow the instructions for submitting comments.
• E-mail:
  regcomments@fincen.treas.gov. Include RIN 1506–AA81 in the subject line of the message.
• Mail: FinCEN, P.O. Box 39, Vienna,
  VA 22183. Include RIN 1506–AA81 in the body of the text. Instructions: It is preferable for comments to be submitted by electronic mail because paper mail in the