November 6, 2018

Move aside sports betting, let’s wager on FAR rules

From: Federal News Network

By Jason Miller

***

The Office of Management and Budget’s Office of Information and Regulatory Affairs (OIRA) recently released its semi-annual regulatory agenda and it got me thinking about the proposed and final Federal Acquisition Regulation (FAR) rules.

***

Well given the fact that over the last two years, the number of FAR rules that were either proposed or finalized was scarce, and there doesn’t seem to be any change on the horizon, I thought we might have some fun with the federal acquisition by putting some odds on how likely the most significant of the 36 proposed and nine final FAR rules would come to fruition.

November 2, 2018

OMB reviews final rule to set 2019 RVOs under the RFS

From: Ethanol Producer Magazine

By Erin Voegele

On Oct. 30, the U.S. EPA delivered its final rule to set 2019 renewable volume obligations (RVOs) under the Renewable Fuel Standard, along with the 2020 RVO for biomass-based diesel, to the White House Office of Management and Budget. OMB review marks a final step before the final rule is published.

The EPA released a prepublication version of the proposed 2019 RFS rule in late June….

Read Complete Article

September 27, 2018

Emerging technology rule forthcoming from BIS

From: American Shipper

Hewlett-Packard export compliance officer expects a lot of public comments on the control of technologies essential to national security.

By Brian Bradley

The Bureau of Industry and Security (BIS) in the coming weeks hopes to release an advance notice of proposed rulemaking (ANPR) to define and add new emerging technologies to be controlled under the Export Administration Regulations (EAR).

***

Currently pending publication in the Federal Register at the Office of Management and Budget (OMB), the referenced advance notice of proposed rulemaking will relate only to emerging technology and not foundational technology, Hess said. Rulemaking on foundational technology will come later.

September 21, 2018

Smooth sailing so far at OMB

From: Politico | Morning Tax

ALL QUIET ON THE OMB FRONT: It’s been a little more than five months since the Treasury Department and OMB reached an agreement allowing the OMB to review proposed tax regulations. So how’s it going? Thus far, it doesn’t seem to be slowing the pace of regulations governing the Tax Cuts and Jobs Act, H.R. 1 (115), which was one of the concerns tax practitioners had when the agreement was announced last April.

September 20, 2018

ONC Sends Information Blocking Proposed Rule to OMB

From: The National Law Review

Article By James A. Cannatti III | McDermott Will & Emery

The Office of the National Coordinator for Health Information Technology (ONC) is one step closer to issuing its long-awaited proposed rule to implement various provisions of the 21st Century Cures Act, including proposed regulations distinguishing between prohibited health information blocking among health care providers and health information technology vendors and other permissible restrictions on access to health information. According to its website, the Office of Management and Budget (OMB) received ONC’s proposed rule for review on September 17, 2018. OMB review is one of the final steps in the process before a proposed rule is published in the Federal Register for public comments….

Read Complete Article

September 14, 2018

‘Opportunity Zone’ Tax Regs Move Ahead, Get Budget Office Review

From: Bloomberg

By Siri Bulusu

Investment fund managers are a step closer to getting clarity on how to use a tax incentive to invest capital gains in low-income area development.

The Office of Management and Budget’s Office of Information and Regulatory Affairs is reviewing proposed rules for the “opportunity zones” tax incentive—the last major hurdle before proposed guidance is released by Treasury and the IRS.

Read Complete Article

September 5, 2018

USDA Sends Final GMO Disclosure Rule to White House For Review

From: The Progressive Farmer

USDA’s Agricultural Marketing Service (AMS) has sent a final GMO disclosure rule to the White House Office of Management and Budget (OMB), a move that suggests the much-anticipated regulation may be finalized this year.

AMS sent the final rule to OMB’s Office of Information and Regulatory Affairs (OIRA) on Aug. 31, and the White House budget staff’s approval should be the final step before the National Bioengineered Food Disclosure Standard is published in the Federal Register.

Read Complete Article

August 30, 2018

Proposed [Global Intangible Low-Taxed Income] GILTI regulations pending OIRA review; IRS draft forms for GILTI reporting

Editor’s Note: See Jim Tozzi on OMB Review of IRS Regulations.

From: KPMG

The new tax law in the United States generally retained the existing subpart F regime that applies to passive income and related-party sales, but a new, broad class of income—“global intangible low-taxed income” (GILTI)—was created. GILTI is also deemed repatriated in the year earned and, thus, is also subject to immediate taxation. GILTI income is effectively taxed at a reduced rate while subpart F income is taxed at the full U.S. rate. In general, GILTI is the excess of all of the U.S. corporation’s net income over a deemed return on the CFC’s tangible assets (10% of depreciated tax basis).

August 29, 2018

Trump plan seeks new emissions technologies to boost coal

Editor’s Note: See also A Regulatory Antidote for CCS (Carbon Capture and Storage) and CRE’s archived Interactive Public DocketDoes CCS Meet BACT Requirements under the DQA?

From: The Hill | Opinion

BY BONNER R. COHEN

***

Now Trump is skinning Obama’s cat. Last year, he issued an executive order rescinding the CPP and putting forward his own plan. The EPA estimates the Trump initiative will cover more than 300 coal-fired power plants nationwide, with the goal of providing electric utilities with incentives to keep coal plants operating rather than replacing them with facilities powered by natural gas or renewable energy.

August 15, 2018

Drug Pricing Policy: HHS Introduces Step Therapy In Medicare Advantage

From: Health Affairs Blog

Rachel Sachs

***

Finally, CMS’ boldest action to date might come in a proposed rule currently under review at the Office of Information and Regulatory Affairs. The rule proposes to eliminate the current safe harbor protection for pharmaceutical rebates under the anti-kickback statute and to create a new safe harbor. Without more information, it is not known how important this proposal will be, and many procedural steps (and therefore many months) remain before such a rule could be finalized. (Incidentally, MA plans often rely on pharmacy benefit managers (PBMs) to help control their Part B spending, so although the administration may seek to limit the power of PBMs with this proposed rule, the step therapy announcement doubles down on their importance.)