Assumption of Partner Liabilities; Correction, 39653-39654 [05-13585]

Download as PDF Federal Register / Vol. 70, No. 131 / Monday, July 11, 2005 / Rules and Regulations New York, NY, John F Kennedy Intl, RNAV (GPS) RWY 4R, Amdt 1 New York, NY, John F Kennedy Intl, RNAV (GPS) RWY 22L, Amdt 1 New York, NY, John F Kennedy Intl, RNAV (GPS) RWY 22R, Amdt 1 New York, NY, John F Kennedy Intl, RNAV List of Subjects in 14 CFR Part 97 (GPS) RWY 31R, Amdt 1 Air traffic control, Airports, New York, NY, John F Kennedy Intl, RNAV Incorporation by reference, and (GPS) Z RWY 31L, Amdt 1 Navigation (air). Oklahoma City, OK, Will Rogers World, RNAV (GPS) RWY 17R, Amdt 2 Issued in Washington, DC on July 1, 2005. Oklahoma City, OK, Will Rogers World, ILS James J. Ballough, OR LOC RWY 17R, Amdt 10 Director, Flight Standards Service. Providence, RI, Theodore Francis Green State, ILS RWY 34, Amdt 10A Adoption of the Amendment Angleton/Lake Jackson, TX, Brazoria County, I Accordingly, pursuant to the authority RNAV (GPS) RWY 17, Amdt 2 Angleton/Lake Jackson, TX, Brazoria County, delegated to me, under title 14, Code of RNAV (GPS) RWY 35, Amdt 2 Federal Regulations, part 97 (14 CFR part Arlington, TX, Arlington Muni, RNAV (GPS) 97) is amended by establishing, RWY 34, Orig amending, suspending, or revoking Arlington, TX, Arlington Muni, VOR/DME Standard Instrument Approach RWY 34, Amdt 1 Procedures and Weather Takeoff Arlington, TX, Arlington Muni, GPS RWY 34, Minimums effective at 0901 UTC on the Amdt 1A, CANCELLED dates specified, as follows: Arlington, TX, Arlington Muni, VOR/DME RNAV RWY 34, Orig, CANCELLED PART 97—STANDARD INSTRUMENT Brownwood, TX, Brownwood Regional, APPROACH PROCEDURES RNAV (GPS) RWY 17, Amdt 1 Brownwood, TX, Brownwood Regional, I 1. The authority citation for part 97 RNAV (GPS) RWY 35, Amdt 1 continues to read as follows: Houston, TX, Sugar Land Rgnl, RNAV (GPS) Authority: 49 U.S.C. 106(g), 40103, 40106, RWY 17, Amdt 1 40113, 40114, 40120, 44502, 44514, 44701, Houston, TX, Sugar Land Rgnl, RNAV (GPS) 44719, 44721–44722. RWY 35, Amdt 1 Midland, TX, Midland Intl, RNAV (GPS) I 2. Part 97 is amended to read as RWY 28, Amdt 1 follows: Tyler, TX, Tyler Pounds Regional, RNAV (GPS) RWY 4, Amdt 1 * * * Effective 4 Aug 2005 Tyler, TX, Tyler Pounds Regional, RNAV Springdale, AR, Springdale Muni, RNAV (GPS) RWY 22, Amdt 1 (GPS) RWY 18, Amdt 1 Springdale, AR, Springdale Muni, RNAV * * * Effective 1 Sep 2005 (GPS) RWY 36, Amdt 1 Coldfoot, AK, Coldfoot, RNAV (GPS)-A, Orig Ulysses, KS, Ulysses, RNAV (GPS) RWY 17, Coldfoot, AK, Coldfoot, RNAV (GPS) RWY 1, Amdt 1 Orig Ulysses, KS, Ulysses, RNAV (GPS) RWY 35, Coldfoot, AK, Coldfoot, Takeoff Minimums Amdt 1 and Textual Departure Procedures, Orig Falls City, NE, Brenner Field, RNAV (GPS) Shishmaref, AK, Shishmaref, RNAV (GPS) RWY 32, Amdt 1 RWY 5, Orig Kearney, NE, Kearney Muni, RNAV (GPS) Shishmaref, AK, Shishmaref, RNAV (GPS) RWY 18, Orig RWY 23, Orig Kearney, NE, Kearney Muni, RNAV (GPS) Shishmaref, AK, Shishmaref, NDB RWY 5, RWY 36, Amdt 1 Amdt 1 Norfolk, NE, Karl Stefan Memorial, RNAV Shishmaref, AK, Shishmaref, NDB RWY 23, (GPS) RWY 1, Amdt 1 Amdt 1 Norfolk, NE, Karl Stefan Memorial, RNAV Atlanta, GA, Cobb County—Mc Collum Field, (GPS) RWY 19, Amdt 1 VOR/DME RWY 9, Amdt 1A North Platte, NE, North Platte Rgnl Airport Meade, KS, Meade Muni, NDB RWY 17, Orig, Lee Bird Field, RNAV (GPS) RWY 12, Orig CANCELLED North Platte, NE, North Platte Rgnl Airport Middletown, NY, Randall, RNAV (GPS) RWY Lee Bird Field, RNAV (GPS) RWY 30, 8, Orig Amdt 1 Middletown, NY, Randall, RNAV (GPS) RWY Scottsbluff, NE, Western Neb. Rgnl/William 26, Orig B Heilig Field, RNAV (GPS) RWY 12, Orig Norman, OK, University of Oklahoma Scottsbluff, NE, Western Neb. Rgnl/William Westheimer, NDB RWY 3, Orig B Heilig Field, RNAV (GPS) RWY 30, Orig Norman, OK, University of Oklahoma Scottsbluff, NE, Western Neb. Rgnl/William Westheimer, NDB RWY 35, Orig B Heilig Field, NDB RWY 12, Amdt 8B Norman, OK, University of Oklahoma Scottsbluff, NE, Western Neb. Rgnl/William Westheimer, NDB RWY 3, Amdt 5E, B Heilig Field, GPS RWY 30, Orig, CANCELLED CANCELLED Oklahoma City, OK, Will Rogers World, ILS New York, NY, John F Kennedy Intl, RNAV (GPS) RWY 4L, Amdt 1 OR LOC RWY 17L, Amdt 1 reason, the FAA certifies that this amendment will not have a significant economic impact on a substantial number of small entities under the criteria of the Regulatory Flexibility Act. VerDate jul<14>2003 12:58 Jul 08, 2005 Jkt 205001 PO 00000 Frm 00015 Fmt 4700 Sfmt 4700 39653 * * * Effective 27 Oct 2005 Yuma, AZ, Yuma MCAS-Yuma Intl, VOR RWY 17, Amdt 5A, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, VOR/ DME OR TACAN–1 RWY 17, Amdt 1B, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, VOR/ DME RNAV RWY 21R, Amdt 4A, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, ILS RWY 21R, Amdt 5A, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, GPS RWY 17, Orig-B, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, GPS RWY 21R, Orig-A, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, Takeoff Minimums and Textual DP, Amdt 2 The FAA published an Amendment in Docket No. 30449, Amdt No. 3125 to Part 97 of the Federal Aviation Regulations (Vol 70, FR No.120, page 36336; dated June 23, 2005) under section 97.33 effective 1 Sep 2005, which is hereby rescinded: Joplin, MO, Joplin Regional, NDB RWY 13, Amdt 25 The FAA published several Amendments in Docket No. 30449, Amdt No. 3125 to Part 97 of the Federal Aviation Regulations (Vol. 70, FR No. 120, page 36336; dated June 23, 2005) under sections 97.23; 97.29 and 97.33 effective 1 Sep 2005 which are hereby corrected to be effective for 27 Oct 2005: Yuma, AZ, Yuma MCAS-Yuma Intl, VOR RWY 17, Amdt 5A, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, VOR/ DME OR TACAN–1 RWY 17, Amdt 1B, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, VOR/ DME RNAV RWY 21R, Amdt 4A, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, ILS RWY 21R, Amdt 5A, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, GPS RWY 17, Orig-B, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, GPS RWY 21R, Orig-A, CANCELLED Yuma, AZ, Yuma MCAS-Yuma Intl, Takeoff Minimums and Textual DP, Amdt 2 [FR Doc. 05–13513 Filed 7–8–05; 8:45 am] BILLING CODE 4910–13–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [TD 9207] RIN 1545–AX93 Assumption of Partner Liabilities; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correcting amendment. AGENCY: SUMMARY: This document corrects final regulations (TD 9207) that were published in the Federal Register on Thursday, May 26, 2005 (70 FR 30334). E:\FR\FM\11JYR1.SGM 11JYR1 39654 Federal Register / Vol. 70, No. 131 / Monday, July 11, 2005 / Rules and Regulations The final regulation relates to the definition of liabilities under section 752 of the Internal Revenue Code. DATES: This correction is effective on May 26, 2005. FOR FURTHER INFORMATION CONTACT: Laura Fields (202) 622–3050 (not a tollfree number). SUPPLEMENTARY INFORMATION: Background The final regulations (TD 9207) that are the subject of this correction are under sections 358, 704, 705, 737 and 752 of the Internal Revenue Code. Need for Correction As published, TD 9207 contains an error that may prove to be misleading and is in need of clarification. List of Subject in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. Correction of Publication Accordingly, 26 CFR Part 1 is corrected by making the following correcting amendment: I PART 1—INCOME TAXES Paragraph 1. The authority citation for part 1 continues to read, in part, as follows: I Authority: 26 U.S.C. 7805 * * * In § 1.752–7(g)(5), paragraph (iii) of the Example, the table is revised as follows: I § 1.752–7 Partnership assumption of partner’s § 1.752–7 liability on or after June 24, 2003. * * * * * (g) * * * (5) Examples (i) * * * (iii) * * * DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 100 [CGD05–05–074] RIN 1625–AA08 Special Local Regulations for Marine Events; Prospect Bay, Kent Island Narrows, MD Coast Guard, DHS. Temporary final rule. AGENCY: ACTION: SUMMARY: The Coast Guard is establishing temporary special local regulations during the ‘‘Thunder on the Narrows’’ boat races, a marine event to be held August 6 and August 7, 2005, on the waters of Prospect Bay, near Kent Island Narrows, Maryland. These special local regulations are necessary to provide for the safety of life on navigable waters during the event. This action is intended to restrict vessel traffic in portions of Prospect Bay during the event. DATES: This rule is effective from 10:30 a.m. on August 6, 2005, through 6:30 p.m. on August 8, 2005. ADDRESSES: Documents indicated in this preamble as being available in the docket, are part of docket CGD05–05– 074 and are available for inspection or copying at Commander (oax), Fifth Coast Guard District, 431 Crawford Street, Portsmouth, Virginia 23704– 5004, between 9 a.m. and 2 p.m., Monday through Friday, except Federal holidays. FOR FURTHER INFORMATION CONTACT: Ronald Houck, Marine Events Coordinator, Commander, Coast Guard Sector Baltimore, at (410) 576–2674. SUPPLEMENTARY INFORMATION: Regulatory Information We did not publish a notice of proposed rulemaking (NPRM) for this [In millions] regulation. Under 5 U.S.C. 553(b)(B) the 1. Basis in Property 1 after distribution $3 Coast Guard finds that good cause exists 2. Plus lesser of remaining built-in loss. for not publishing an NPRM. Publishing ($2) or amount paid to satisfy lian NPRM would be contrary to public ability ($1) ................................ 1 interest. The event will begin on August 6, 2005. Because of the danger posed by 3. Basis in Property 1 after satisfaction high-speed powerboats racing in a of liability ........................................... $4 closed circuit, special local regulations are necessary to provide for the safety of * * * * * event participants, spectator craft and Cynthia Grigsby, other vessels transiting the event area. Acting Chief, Publications and Regulations For the safety concerns noted, it is in Branch, Legal Processing Division Associate the public interest to have these Chief Counsel (Procedure and regulations in effect during the event. Administration). Under 5 U.S.C. 553(d)(3), the Coast [FR Doc. 05–13585 Filed 7–8–05; 8:45 am] Guard finds that good cause exists for BILLING CODE 4830–01–P making this rule effective less than 30 B’S BASIS IN PROPERTY 1 AFTER SATISFACTION OF LIABILITY VerDate jul<14>2003 12:58 Jul 08, 2005 Jkt 205001 PO 00000 Frm 00016 Fmt 4700 Sfmt 4700 days after publication in the Federal Register. Delaying the effective date would be contrary to the public interest, since immediate action is needed to ensure the safety of the event participants, spectator craft and other vessels transiting the event area in Prospect Bay. However, advance notifications will be made to affected users of the river via marine information broadcasts and area newspapers. Background and Purpose On August 6 and August 7, 2005, the Kent Narrows Racing Association will sponsor the ‘‘Thunder on the Narrows’’ powerboat races, on Prospect Bay, near Kent Island Narrows, Maryland. The event will consist of approximately 75 hydroplanes and jersey speed skiffs racing in heats counter-clockwise around an oval racecourse. A large fleet of spectator vessels is anticipated. Due to the need for vessel control during the races, vessel traffic will be temporarily restricted to provide for the safety of participants, spectators and transiting vessels. Discussion of Rule The Coast Guard is establishing temporary special local regulations on specified waters of Prospect Bay near Kent Island Narrows, Maryland. The temporary special local regulations will be enforced from 10:30 a.m. to 6:30 p.m. on August 6, and August 7, 2005. If the races are postponed due to weather, then the temporary special local regulations will be enforced during the same time period the next day. The effect of the temporary special local regulations will be to restrict general navigation in the regulated area during the races. Except for persons or vessels authorized by the Coast Guard Patrol Commander, no person or vessel may enter or remain in the regulated area. Non-participating vessels will be allowed to transit the regulated area between races, when the Coast Guard Patrol Commander determines it is safe to do so. These regulations are needed to control vessel traffic during the event to enhance the safety of participants, spectators and transiting vessels. Regulatory Evaluation This rule is not a ‘‘significant regulatory action’’ under section 3(f) of Executive Order 12866, Regulatory Planning and Review, and does not require an assessment of potential costs and benefits under section 6(a)(3) of that Order. The Office of Management and Budget has not reviewed it under that Order. It is not ‘‘significant’’ under the regulatory policies and procedures of E:\FR\FM\11JYR1.SGM 11JYR1

Agencies

[Federal Register Volume 70, Number 131 (Monday, July 11, 2005)]
[Rules and Regulations]
[Pages 39653-39654]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 05-13585]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 9207]
RIN 1545-AX93


Assumption of Partner Liabilities; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

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SUMMARY: This document corrects final regulations (TD 9207) that were 
published in the Federal Register on Thursday, May 26, 2005 (70 FR 
30334).

[[Page 39654]]

The final regulation relates to the definition of liabilities under 
section 752 of the Internal Revenue Code.

DATES: This correction is effective on May 26, 2005.

FOR FURTHER INFORMATION CONTACT: Laura Fields (202) 622-3050 (not a 
toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    The final regulations (TD 9207) that are the subject of this 
correction are under sections 358, 704, 705, 737 and 752 of the 
Internal Revenue Code.

Need for Correction

    As published, TD 9207 contains an error that may prove to be 
misleading and is in need of clarification.

List of Subject in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Correction of Publication

0
Accordingly, 26 CFR Part 1 is corrected by making the following 
correcting amendment:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation for part 1 continues to read, in 
part, as follows:

    Authority: 26 U.S.C. 7805 * * *

0
In Sec.  1.752-7(g)(5), paragraph (iii) of the Example, the table is 
revised as follows:


Sec.  1.752-7  Partnership assumption of partner's Sec.  1.752-7 
liability on or after June 24, 2003.

* * * * *
    (g) * * *
    (5) Examples (i) * * *
    (iii) * * *

         B's Basis in Property 1 After Satisfaction of Liability
                              [In millions]
------------------------------------------------------------------------
 
------------------------------------------------------------------------
1. Basis in Property 1 after distribution........................     $3
2. Plus lesser of remaining built-in loss........................
    ($2) or amount paid to satisfy liability ($1)................      1
                                                                  ------
3. Basis in Property 1 after satisfaction of liability...........     $4
------------------------------------------------------------------------

* * * * *

Cynthia Grigsby,
Acting Chief, Publications and Regulations Branch, Legal Processing 
Division Associate Chief Counsel (Procedure and Administration).
[FR Doc. 05-13585 Filed 7-8-05; 8:45 am]
BILLING CODE 4830-01-P