TFOG: Executive Order Harmonizing Tariff Schedule, FRS Final Rule Amending Reg D, IRS Proposed Rules Rule on Foreign Income,OSHA interim Final Rule w/ Comment Request on SOX § 806, SSA Notice of Recision, HRSA Notice and Grant Notice round up our look at the key updates.
Executive Order To Modify the Harmonized Tariff Schedule of the United States (read below)
FRS Final Rule Reserve Requirements of Depository Institutions (under Reg D)
SUMMARY:
The Board is amending Regulation D, Reserve Requirements of Depository Institutions, to reflect the annual indexing of the reserve requirement exemption amount and the low reserve tranche for 2012. The Regulation D amendments set the amount of total reservable liabilities of each depository institution that is subject to a zero percent reserve requirement in 2012 at $11.5 million(up from $10.7 million in 2011). This amount is known as the reserve requirement exemption amount. The Regulation D amendments also set the amount of net transaction accounts at each depository institution that is subject to a three percent reserve requirement in 2012 at $71.0 million (up from $58.8 million in 2011). This amount is known as the low reserve tranche. The adjustments to both of these amounts are derived using statutory formulas specified in the Federal Reserve Act. The Board is also announcing changes in two other amounts, the non exempt deposit cutoff level and the reduced reporting limit, that are used to determine the frequency at which depository institutions must submit deposit reports.
Effective date: December 5, 2011
IRS Notice of Proposed Rule Making : Income of Foreign Governments and International Organizations
SUMMARY:
This document contains proposed Income Tax Regulations that provide guidance relating to the taxation of the income of foreign governments from investments in the United States under section 892 of the Internal Revenue Code of 1986 (Code). The regulations will affect foreign governments that derive income from sources within the United States.
DATES: Written or electronic commentsand requests for a public hearing must be received by February 1, 2012.
OSHA Interim Final Rule w/ Comments Request: Procedures for the Handling of Retaliation Complaints Under Section 806 of the Sarbanes-Oxley Act of 2002,as Amended
SUMMARY:
The Occupational Safety and Health Administration (OSHA) is amending the regulations governing employee protection (‘‘retaliation’’ or ‘‘whistleblower’’) claims under section 806 of the Corporate and Criminal Fraud Accountability Act of 2002, Title VIII of the Sarbanes-Oxley Act of 2002 (‘‘Sarbanes-Oxley’’ or ‘‘Act’’), which was amended by sections 922 and 929A of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, enacted on July 21, 2010. Public Law 111–203. These revisions to the Sarbanes-Oxley whistleblower regulations clarify and improve the procedures for handling Sarbanes-Oxley whistleblower complaints and implement statutory changes enacted into law as part of the 2010 statutory amendments. These changes to the Sarbanes-Oxley whistleblower regulations also make the procedures for handling retaliation complaints under Sarbanes-Oxley more consistent with OSHA’s procedures for handling complaints under the employee protection provisions of the Surface Transportation Assistance Act of 1982,29 CFR part 1978; the National Transit Systems Security Act and the Federal Railroad Safety Act, 29 CFR part 1982;the Consumer Product Safety Improvement Act of 2008, 29 CFR part1983; and the Employee Protection Provisions of Six Environmental Statutes and Section 211 of the Energy Reorganization Act of 1974, as amended, 29 CFR part 24.
DATES: This interim final rule is effective on November 3, 2011.
SSA Notice of rescission of Social Security Rulings. Social Security Rulings, SSR 91–1c and SSR 66–18c; Rescission of Social Security Rulings (SSR) 66–18c andSSR 91–1c
SUMMARY:
In accordance with 20 CFR402.35(b)(1), the Commissioner of SocialSecurity gives notice of the rescission of Social Security Rulings (SSR) 66–18cand SSR 91–1c.
Effective Date: This rescission will be effective on November 3, 2011
HRSA Notice: Lists of Designated Primary Medical Care, Mental Health, and Dental Health Professional Shortage Areas read below
Grant Notice: Bureau of Educational and Cultural Affairs (ECA) Request for Grant Proposals: Study of the U.S. Institutes for Women Student Leaders on Women’s Leadership
Announcement Type: New Cooperative Agreements.
Funding Opportunity Number: ECA/A/E/USS–12–22–23.
Catalog of Federal Domestic Assistance Number: 19.009.
Key Dates: May to August, 2012.
Application Deadline: December 30,2011.
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2011-28727 exec To Modify the Harmonized Tariff Schedule of the UnitedStates
2011-28048 FRS Final Rule
2011-28531 IRS Prop Rule
2011-28274 OSHA Interim Rule
2011-28533 SSA SSR 91-1c + SSR 66-18c
2011-28318 HRSA Notice
2011-28426 Grants
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