Dual Consolidated Loss Regulations; Correction, 39695 [05-13381]

Download as PDF Federal Register / Vol. 70, No. 131 / Monday, July 11, 2005 / Proposed Rules (ii) The amount obligated for the project exceeds the current estimated cost of the project. (4) If the State fails to take prompt action to reduce Federal obligations as required in paragraph (a)(3) of this section, then FHWA shall revise the obligations or take such other action as authorized by 23 CFR 1.36. * * * * * 3. Amend § 630.108 by adding paragraphs (b)(9) and (10) and (e) to read as follows: § 630.108 Preparation of agreement. (b) * * * (9) The agreement shall specify a project completion date. The project completion date will be the date when work on the project is expected to be completed. Within 90 days after the project completion date, the State shall submit a request to FHWA to close the project and release any unexpended obligations on the project. (10) If the State does not close the project within 90 days after the project completion date, then the FHWA shall reduce the Federal obligation to the amount expended unless justification is provided by the State for maintaining a certain amount of unexpended obligation necessary to complete the project. * * * * * (e) The State is responsible for assuring that third party contracts and agreements provide for the timely billing and processing of final claims following the completion of work by the third party. A delay in receiving or processing third party claims will not be justification for extending the project completion date as permitted in §630.110(d) of this subpart unless the delay is the result of an unusual circumstance beyond the control of the State and the third party. 4. Amend §630.110 by adding paragraph (d) to read as follows: § 630.110 Modification of the original agreement. * * * * * (d) The modification may include a revised project completion date provided the State submits a revised project schedule and support that the remaining unexpended obligation amount is still needed. [FR Doc. 05–13514 Filed 7–8–05; 8:45 am] BILLING CODE 4910–22–P VerDate jul<14>2003 14:31 Jul 08, 2005 Jkt 205001 DEPARTMENT OF THE TREASURY § 1.1503(d)–5 39695 [Corrected] 3. On page 29903, column 2, § 1.1503(d)–5(c), paragraph (i), of Example 34., the language, ‘‘its worldwide income Fx, a an unrelated’’ is corrected to read ‘‘its worldwide income, Fx, an unrelated’’ Internal Revenue Service 26 CFR Part 1 [REG–102144–04] Dual Consolidated Loss Regulations; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking. Cynthia Grigsby, Acting Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel, (Procedure and Administration). [FR Doc. 05–13381 Filed 7–8–05; 8:45 am] BILLING CODE 4830–01–P RIN 1545–BD10 AGENCY: This document contains corrections to a notice of proposed rulemaking and notice of public hearing that was published in the Federal Register on Tuesday, May 24, 2005 (70 FR 29868). The proposed regulations provide guidance regarding dual consolidated loss issues, including exceptions to the general prohibition against using a dual consolidated loss to reduce the taxable income of any other member of the affiliated group. FOR FURTHER INFORMATION CONTACT: Kathryn T. Holman, (202) 622–3840 (not a toll-free number). SUPPLEMENTARY INFORMATION: DEPARTMENT OF THE TREASURY SUMMARY: Background The notice of proposed rulemaking (REG–102144–04) that is the subject of these corrections are under sections 1503, 953 and 367 of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking and notice of public hearing (REG–102144–04) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the notice of proposed rulemaking and notice of public hearing (REG–102144–04), that was the subject of FR Doc. 05–10160, is corrected as follows: 1. On page 29869, column 1, in the preamble under the paragraph heading ‘‘Background’’, paragraph 3 from the top of the column, line 5, the language ‘‘as if such unit where a wholly owned’’ is corrected to read ‘‘as if such unit were a wholly owned’’ § 1.1503(d)–4 [Corrected] 2. On page 29897, column 2, ‘‘§ 1503(d)–4 (i)(1), line 6, the language, ‘‘through (ix) of this section, including’’ is corrected to read ‘‘through (viii) of this section, including’’ PO 00000 Frm 00029 Fmt 4702 Sfmt 4702 Internal Revenue Service 26 CFR Part 1 [REG–100420–03] RIN 1545–BB90 Safe Harbor for Valuation Under Section 475; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking and notice of public hearing. AGENCY: SUMMARY: This document contains corrections to a notice of proposed rulemaking and notice of public hearing that was published in the Federal Register on Tuesday, May 24, 2005 (70 FR 29663). The proposed regulations provide guidance regarding elective safe harbor for dealers and traders in securities and commodities. FOR FURTHER INFORMATION CONTACT: Marsha A. Sabin or John W. Rogers III (202) 622–3950 (not a toll-free number). SUPPLEMENTARY INFORMATION: Background The notice of proposed rulemaking (REG–100420–03) that is the subject of these corrections is under section 475 of the Internal Revenue Code. Need for Correction The notice of proposed rulemaking (REG–100420–03) contains errors that may prove to be misleading and are in need of clarification. Correction of Publication Accordingly, the notice proposed rulemaking (REG–100420–03), that was the subject of FR Doc. 05–10167, is corrected as follows: 1. On page 29666, column 2, under paragraph heading Record Retention and Production; Use of Different Values, first paragraph, lines 15 through 18 from E:\FR\FM\11JYP1.SGM 11JYP1

Agencies

[Federal Register Volume 70, Number 131 (Monday, July 11, 2005)]
[Proposed Rules]
[Page 39695]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-13381]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-102144-04]
RIN 1545-BD10


Dual Consolidated Loss Regulations; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking and notice of public hearing that was published in the 
Federal Register on Tuesday, May 24, 2005 (70 FR 29868). The proposed 
regulations provide guidance regarding dual consolidated loss issues, 
including exceptions to the general prohibition against using a dual 
consolidated loss to reduce the taxable income of any other member of 
the affiliated group.

FOR FURTHER INFORMATION CONTACT: Kathryn T. Holman, (202) 622-3840 (not 
a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking (REG-102144-04) that is the 
subject of these corrections are under sections 1503, 953 and 367 of 
the Internal Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking and notice of 
public hearing (REG-102144-04) contains errors that may prove to be 
misleading and are in need of clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking and notice of public 
hearing (REG-102144-04), that was the subject of FR Doc. 05-10160, is 
corrected as follows:
    1. On page 29869, column 1, in the preamble under the paragraph 
heading ``Background'', paragraph 3 from the top of the column, line 5, 
the language ``as if such unit where a wholly owned'' is corrected to 
read ``as if such unit were a wholly owned''


Sec.  1.1503(d)-4  [Corrected]

    2. On page 29897, column 2, ``Sec.  1503(d)-4 (i)(1), line 6, the 
language, ``through (ix) of this section, including'' is corrected to 
read ``through (viii) of this section, including''


Sec.  1.1503(d)-5  [Corrected]

    3. On page 29903, column 2, Sec.  1.1503(d)-5(c), paragraph (i), of 
Example 34., the language, ``its worldwide income Fx, a an 
unrelated'' is corrected to read ``its worldwide income, Fx, 
an unrelated''

Cynthia Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 05-13381 Filed 7-8-05; 8:45 am]
BILLING CODE 4830-01-P

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