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The Food and Drug Administration (FDA) has issued a final rule establishing new guidelines for nonprescription drugs that require an "Additional Condition for Nonprescription Use" (ACNU). This rule allows drugs that can't be safely used with labeling alone to be sold without a prescription if the manufacturer implements an approved ACNU to ensure proper use. It aims to expand consumer access to certain drugs that would otherwise need a prescription and outlines specific requirements for drug application, labeling, and reporting failures of the ACNU process. The rule will take effect on January 27, 2025, and is intended to improve public health by making more medications safely available as nonprescription options.

The Food and Nutrition Service of the USDA announced the benefit levels for 2025 in the Summer Electronic Benefits Transfer for Children Program. These benefits, unchanged from 2024, are adjusted annually based on the Thrifty Food Plan and include regional modifications for Alaska, Hawaii, and U.S. Territories. For most areas, the monthly benefit remains at $40, while Alaska and Hawaii have higher amounts due to cost differences. These adjustments comply with the Richard B. Russell National School Lunch Act.

The Department of Education is inviting applications for new awards for the Education Research and Development Center Program for fiscal year 2025. This program aims to fund research centers that will tackle specific educational problems and enhance knowledge in their fields. The department plans to fund projects on topics like improving gifted education and using generative artificial intelligence in higher education. Applications are open from December 20, 2024, with a deadline for submission set on March 14, 2025.

The National Credit Union Administration (NCUA) has announced a request for public comments on an information collection related to credit union capital planning and stress testing, as governed by the Paperwork Reduction Act of 1995. The collection aims to gather data from large federally insured credit unions to ensure they have adequate capital resources. Comments can be submitted until June 23, 2025, addressing aspects like the necessity, accuracy, quality, and burden of the collection. The process will include public input, and all comments will be documented openly.

The Treasury Department and the Internal Revenue Service (IRS) have proposed new regulations that require corporations engaging in specific tax-free separations to report their transactions annually to ensure compliance with tax laws. These rules focus on Section 355 transactions, which involve the tax-free distribution of a corporation’s stock. The new regulations mandate detailed reporting to prevent tax evasion, and this must be done via a new form attached to the corporation's annual tax return over a multi-year period. The proposed changes are intended to help narrow the federal tax gap by improving the IRS's ability to track and address potential noncompliance.

This document contains the final regulations providing additional guidance on the limitations for deducting business interest expenses under section 163(j) of the Internal Revenue Code. These regulations reflect changes made by the Tax Cuts and Jobs Act and the CARES Act, addressing how the limitation applies to various entities such as passthrough entities, regulated investment companies, and controlled foreign corporations. The rules also offer guidance on definitions related to real estate and set applicability dates for these regulations. Ultimately, these updates aim to clarify how businesses can calculate their deductions for interest expenses while considering the legislative amendments.

The Securities and Exchange Commission (SEC) has requested the Office of Management and Budget (OMB) to approve an extension of the existing data collection required under Rule 15c2-8. This rule mandates that broker-dealers deliver prospectuses to certain individuals during securities offerings, including initial public offerings (IPOs), with a specific "48-hour rule" for IPOs. Broker-dealers must also maintain accurate records to identify those requesting prospectuses. The SEC estimates significant time and cost burdens for compliance, and a 30-day public comment period for this request is open until January 2, 2025.

The Animal and Plant Health Inspection Service (APHIS) is updating its rules on indemnity payments for losses due to Highly Pathogenic Avian Influenza (HPAI) in poultry. New requirements mandate that premises either at risk or affected by HPAI must undergo biosecurity audits to receive indemnity payments. These audits will verify that proper safety measures to prevent disease spread are in place and maintained. Virtual audits will generally suffice for buffer zones, while previously affected premises need in-person audits, unless there are exceptions.

The U.S. Department of Transportation is hosting the Combating Human Trafficking in Transportation Impact Award to encourage the development of innovative solutions to stop human trafficking. This award is open to U.S.-based individuals and organizations like NGOs and government bodies, offering a cash prize of up to $50,000 for the most impactful submission. Participants are encouraged to design creative tools, initiatives, or technologies that could have a significant impact against human trafficking within the transportation industry. Submissions are accepted from January 6, 2025, to March 7, 2025, and the winners will be selected based on factors such as technical merit, originality, impact, practicality, and scalability.

The United States Department of Agriculture announced the launch of the Marketing Assistance for Specialty Crops (MASC) program, which provides financial support to specialty crop producers to help them expand or develop markets. Applications for this assistance will be accepted from December 10, 2024, to January 8, 2025. To qualify, producers must be actively engaged in farming specialty crops, such as fruits, vegetables, tree nuts, and floriculture, among others. The program aims to boost domestic market growth and address the challenges specialty crop producers face due to high costs and lower cash receipts.