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The Department of the Treasury is inviting public comments on its plan to collect information related to the CARES Act Loan and Payroll Support Programs for air carriers and other eligible businesses. This request is part of an effort to reduce paperwork and ensure compliance with existing financial assistance agreements under the CARES Act and subsequent laws. The Treasury Department needs to gather feedback on several aspects, including the necessity and practicality of the information collection and ways to reduce the burden on respondents. Comments about this process are accepted until March 31, 2025.

The Department of Education announced that the Consolidated Appropriations Act, 2021, overrides a previous notice that reopened the application period for certain grants under the Higher Education Emergency Relief Fund (HEERF) from the CARES Act. This new law prohibits accepting or processing new applications for the “Student Aid Portion” and “Institutional Portion” programs. However, applications are still being accepted for other HEERF programs under specific conditions until January 11, 2021. The department will provide further guidance on new funding opportunities created by the 2021 Appropriations Act at a later date.

The National Endowment for the Arts (NEA) is inviting comments on a proposed information collection as part of their efforts to lessen paperwork and respondent burden. This survey aims to assess the impact of CARES Act funding on state arts agencies. Feedback is sought particularly on the necessity, usefulness, and clarity of the information to be collected, as well as ways to minimize the burden of this data collection on respondents. Submissions are due by April 19, 2021.

The Department of Health and Human Services has issued a notice clarifying that businesses that started producing hand sanitizers during the COVID-19 pandemic are not required to pay certain facility fees under the Food, Drug, and Cosmetic Act. These businesses, many of which normally produce alcoholic beverages, were allowed to make hand sanitizers due to a temporary policy by the FDA to address shortages. The Department emphasizes that imposing such fees would be inconsistent with the intent of the CARES Act and clarifies that these businesses are not considered drug manufacturing facilities under the law, unless they also engage in producing other over-the-counter drugs.

The U.S. Department of Education is opening applications for new grants under the Higher Education Emergency Relief Fund (HEERF), as part of the Coronavirus Response and Relief Supplemental Appropriations Act, 2021 (CRRSAA). This initiative is aimed at public and nonprofit universities and colleges that did not receive prior funding under a similar program in the CARES Act. The CRRSAA provides about $22.7 billion for higher education, with grants intended to cover pandemic-related costs, support student activities, and offer financial aid to students. The Department will automatically provide supplemental funds to eligible institutions that have already received grants from the previous CARES Act but requires new applications from institutions that did not.

The Food and Drug Administration (FDA) is seeking public comments on a proposed information collection related to medical device shortages. Under the Paperwork Reduction Act, they must announce proposed data collection plans and allow a 60-day public comment period. This data will help the FDA manage medical device availability during emergencies by obtaining information on production changes that could cause shortages. Additionally, the CARES Act gives FDA the power to require notifications from manufacturers about disruptions that could impact device supply, especially during public health emergencies.

The Education Department issued a correction for a previous notice regarding budget and expenditure reporting under the CARES Act. The correction changes the date in the DATES section from "January 20, 2021," to "January 21, 2021." This update is meant to ensure the accurate recording of relevant dates for institutional reporting requirements. The original notice appeared in the December 21, 2020, issue of the Federal Register.

The Department of Health and Human Services has withdrawn an earlier notice from the FDA about fee rates under the Over-the-Counter Monograph Drug User Fee Program for 2021. This withdrawal is due to the lack of delegated authority for the FDA to issue the notice. Consequently, the FDA has stopped all efforts to collect fees for this program until new instructions are announced. The original notice, part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), was published on December 29, 2020, and is officially withdrawn as of January 6, 2021.

The Food and Drug Administration (FDA) is seeking public comments on a proposed information collection related to the registration of drug producers and the listing of drugs in commercial distribution. This effort supports the implementation of the Federal Food, Drug, and Cosmetic Act (FD&C Act) and aims to maintain up-to-date drug information to ensure public health. Key updates include exemptions for certain biological products under new guidelines resulting from the CARES Act and recommendations for emergency planning to maintain drug supply. The public can provide feedback by January 21, 2025, through the specified OMB website link.

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.