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that, on an annual basis, it expected each recipient government would be required to provide the <br />following information: <br />• Actual net tax revenue for the reporting year; <br />• Each revenue -reducing change made to date during the covered period and the in -year <br />value of each change; <br />• Each revenue -raising change made to date during the covered period and the in -year <br />value of each change; and <br />• Each covered spending cut made to date during the covered period, the in -year value of <br />each cut, and documentation demonstrating that each spending cut is covered as <br />prescribed under the interim final rule. <br />Since the adoption of the interim final rule, Treasury has provided guidance on reporting <br />regarding eligible uses and has required recipient governments to indicate whether they have <br />made covered changes and the value of such changes.364 <br />Reporting burden. <br />Public Comment: Some commenters argued that the framework for identifying and <br />reporting impermissible offsets was burdensome and that the burdens should be accounted for <br />under Executive Order 13132 (Federalism, August 4, 1999). <br />Treasury Response: Taking into consideration comments received regarding burden, <br />Treasury is considering a tiered approach to reporting on the offset provision. Specifically, under <br />this approach, a recipient would only be required to report information to the extent needed to <br />determine whether SLFRF funds had been used to offset a reduction in net tax revenue. For <br />example, a recipient government would be required to report information regarding permissible <br />364 See Reporting Guidance, Section C.11, available at https://home.treasury.gov/system/files/136/SLFRF- <br />Compliance-and-Reporting-Guidance.pdf. <br />337 <br />