Submission of Annual Financial Reports: Elimination of Requirement, 29244-29247 [06-4737]

Download as PDF 29244 Federal Register / Vol. 71, No. 98 / Monday, May 22, 2006 / Rules and Regulations safeguards must remain intact until the arrival of the peppers in the United States or the shipment will not be allowed to enter the United States. (e) Each shipment of peppers must be accompanied by a phytosanitary certificate of inspection issued by NPQS bearing the following additional declaration: ‘‘These peppers were grown in greenhouses in accordance with the conditions in 7 CFR 319.56–2qq and were inspected and found free from Agrotis segetum, Helicoverpa armigera, Helicoverpa assulta, Mamestra brassicae, Monilinia fructigena, Ostrinia furnacalis, Scirtothrips dorsalis, Spodoptera litura, and Thrips palmi.’’ (f) The peppers must be imported in commercial shipments only. (Approved by the Office of Management and Budget under control number 0579–0282) Done in Washington, DC, this 17th day of May 2006. Kevin Shea, Acting Administrator, Animal and Plant Health Inspection Service. [FR Doc. 06–4718 Filed 5–19–06; 8:45 am] BILLING CODE 3410–34–P NUCLEAR REGULATORY COMMISSION 10 CFR Parts 50 and 72 RIN 3150–AH39 Submission of Annual Financial Reports: Elimination of Requirement Nuclear Regulatory Commission. ACTION: Direct final rule. erjones on PROD1PC71 with RULES AGENCY: SUMMARY: The Nuclear Regulatory Commission (NRC) is amending its regulations so that licensees who file financial reports with the Securities and Exchange Commission (SEC) or the Federal Energy Regulatory Commission (FERC), need not submit annual financial reports, including the certified financial statements, to the Commission. The Commission is also amending its regulations so that Independent Spent Fuel Storage Installation (ISFSI) licensees who file financial reports with the SEC or the FERC, need not submit annual financial reports, including the certified financial statements, to the Commission. DATES: Effective Date: The final rule is effective August 7, 2006, unless significant adverse comments are received by June 21, 2006. A significant adverse comment is a comment where the commenter explains why the rule would be inappropriate, including challenges to the rule’s underlying VerDate Aug<31>2005 13:15 May 19, 2006 Jkt 208001 premise or approach, or would be ineffective or unacceptable without change. If the rule is withdrawn, timely notice will be published in the Federal Register. ADDRESSES: You may submit comments by any one of the following methods. Please include the following number RIN 3150–AH39 in the subject line of your comments. Comments on rulemakings or petitions submitted in writing or in electronic form will be made available for public inspection. Because your comments will not be edited to remove any identifying or contact information, the NRC cautions you against including personal information such as social security numbers and birth dates in your submission. Mail comments to: Secretary, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001, Attention: Rulemakings and Adjudications Staff. E-mail comments to: SECY@nrc.gov. If you do not receive a reply e-mail confirming that we have received your comments, contact us directly at (301) 415–1966. You may also submit comments via the NRC’s rulemaking Web site at https://ruleforum.llnl.gov. Address questions about our rulemaking Web site to Carol Gallagher (301) 415– 5905; e-mail cag@nrc.gov. Comments can also be submitted via the Federal eRulemaking Portal https:// www.regulations.gov. Hand deliver comments to: 11555 Rockville Pike, Rockville, Maryland 20852, between 7:30 am and 4:15 p.m. on Federal workdays. (Telephone (301) 415–1966). Fax comments to: Secretary, U.S. Nuclear Regulatory Commission at (301) 415–1101. Publicly available documents related to this rulemaking or petition may be viewed electronically on the public computers located at the NRC’s Public Document Room (PDR), O1F21, One White Flint North, 11555 Rockville Pike, Rockville, Maryland. The PDR reproduction contractor will copy documents for a fee. Selected documents, including comments, may be viewed and downloaded electronically via the NRC rulemaking Web site at https://ruleforum.llnl.gov. Publicly available documents created or received at the NRC after November 1, 1999, are available electronically at the NRC’s Public Electronic Reading Room at https://www.nrc.gov/readingrm/adams.html. From this site, the public can gain entry into the NRC’s Agencywide Documents Access and Management System (ADAMS), which provides text and image files of NRC’s PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 public documents. If you do not have access to ADAMS or if there are problems in accessing the documents located in ADAMS, contact the NRC Public Document Room (PDR) Reference staff at 1–800–397–4209, 301–415–4737, or by e-mail to pdr@nrc.gov. FOR FURTHER INFORMATION CONTACT: Michael T. Jamgochian, Office of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001, telephone (301) 415–3224, e-mail MTJ1@nrc.gov. In accordance with section 553(b)(3)(B) of the Administrative Procedures Act, the NRC is using the direct final rule process for this rule because the NRC considers this action to be noncontroversial, and does not anticipate significant adverse comments. The Commission considers this rulemaking action noncontroversial because the annual reports and the certified financial statements currently required by § 50.71 (b) and 72.80 (b), are typically written for the shareholders, and contain information pertaining to financial qualifications, that may be outdated by the time it is published. The reports can be found posted on the company’s Web site as well as on the SEC or FERC Web sites. The NRC has concluded that for licensees that are required to file financial reports with the SEC or the FERC, licensee financial information can be collected in a more cost-effective way than requiring licensees to submit the reports to the Commission, as required by 10 CFR 50.71(b) and 10 CFR 72.80 (b). The NRC has access to other more current sources of information than the annual financial reports to assess the licensees’ financial condition, making the submittal of the annual financial report to the NRC unnecessary. Additionally, NRC has the authority to request licensees to submit additional or more detailed information regarding their financial status if the Commission considers this information appropriate. The amendments in this rule will become effective on August 7, 2006. However, if the NRC receives significant adverse comments on this direct final rule by June 21, 2006, then the NRC will publish a document that withdraws this action and will subsequently address the comments received in a final rule as a response to the companion proposed rule published elsewhere in this Federal Register. Absent significant modifications to the proposed revisions requiring republication, the NRC will not initiate a second comment period on this action. SUPPLEMENTARY INFORMATION: E:\FR\FM\22MYR1.SGM 22MYR1 Federal Register / Vol. 71, No. 98 / Monday, May 22, 2006 / Rules and Regulations A significant adverse comment is a comment where the commenter explains why the rule would be inappropriate, including challenges to the rule’s underlying premise or approach, or would be ineffective or unacceptable without a change. A comment is adverse and significant if: (1) The comment opposes the rule and provides a reason sufficient to require a substantive response in a notice-andcomment process. For example, a substantive response is required when— (A) The comment causes the staff to reevaluate (or reconsider) its position or conduct additional analysis; (B) The comment raises an issue serious enough to warrant a substantive response to clarify or complete the record; or (C) The comment raises a relevant issue that was not previously addressed or considered by the staff. (2) The comment proposes a change or an addition to the rule and it is apparent that the rule would be ineffective or unacceptable without incorporation of the change or addition. (3) The comment causes the staff to make a change (other than editorial) to the rule. erjones on PROD1PC71 with RULES Background Section 182.a of the Atomic Energy Act of 1954, as amended, provides that each application for a license shall state such information as the Commission, by rule or regulation, may determine to be necessary to decide the financial qualifications of the applicant as the Commission may deem appropriate for the license. The Act and the Commission’s regulations reflect that the fundamental purpose of the financial qualifications provision of that section is the protection of the public health and safety and the common defense and security. Although the Commission’s safety determinations required for the issuance of facility licenses are based upon extensive and detailed technical review, an applicant’s financial qualifications can also contribute to the ability to meet its responsibilities on safety matters. Discussion In SECY–02–0081, ‘‘Staff Activities Related to the NRC Goal of Reducing Unnecessary Regulatory Burden on Power Reactor Licensees,’’ dated May 13, 2002, the NRC staff described various interactions with stakeholders regarding ways to reduce unnecessary regulatory burden. By memorandum dated June 25, 2002, the Commission directed the staff to proceed with its evaluation of possible rule changes. In developing the initiative described in VerDate Aug<31>2005 13:15 May 19, 2006 Jkt 208001 SECY–02–0081, the NRC staff had solicited observations and suggestions by placing a notice in the Federal Register (66 FR 22134; May 3, 2001) and sponsoring a workshop on May 31, 2001. In a response letter dated July 2, 2001, the Nuclear Energy Institute (NEI) provided a list of suggestions from its members for possible changes to several regulations that could reduce unnecessary regulatory burden. This list included the annual reports and the certified financial statements currently required by §§ 50.71(b) and 72.80(b). These reports are typically written for the shareholders, and contain information pertaining to financial qualifications, such as: (1) A letter to the shareholders that covers the company’s changing conditions, goals achieved or missed, and its outlook; (2) Sales and marketing data showing the product lines of the company, sales volume, and the products that produce the most revenue; (3) CPA (certified public accountant) opinion letter on the company’s financials; (4) List of directors and officers; (5) Management discussion and analysis of significant financial trends; (6) Consolidated financial statements that show multi-year trends in revenue, spending, profits, inventory and debt; (7) Trends in the stock price; (8) Notes to the consolidated financial statements that explain most line items on the financials. By comparing the company’s past year performance to previous years, insights can be obtained as to how the company, as a whole, has been doing financially as of the end of the past year. The information in the annual report and the certified financial statements may be outdated by the time they are published and submitted to the NRC. Accordingly, in many instances the NRC has been using a more current source of information, called Form 10–Q, the quarterly financial report submitted to the SEC. Form 10–Q usually contains: (1) The three months and the year-todate income statement compared to the same period of the previous year; (2) The company’s balance sheets; (3) The three months and year-to-date cash flow statements compared to the same period of the previous year; (4) Notes to the consolidated financial statements; (5) Management discussion and analysis of financial condition and results of operations. The Form 10–Q gives a snap shot of the company’s performance on a quarterly basis. The report can be found posted on many company’s Web sites as PO 00000 Frm 00005 Fmt 4700 Sfmt 4700 29245 well as on the SEC Web site. Form 1, submitted to the FERC, contains similar up-to-date financial information that can be electronically accessed by the staff. The Commission has concluded that, for licensees that are required to file financial reports with the SEC or the FERC, licensees financial information can be collected in a more cost-effective way than requiring licensees to submit the reports required by 10 CFR 50.71(b) and 10 CFR 72.80(b). The NRC has access to other more current sources of information than the annual financial reports to assess the licensees’ financial condition, making the submittal of the annual financial report to the NRC unnecessary. Additionally, NRC has the authority to request licensees to submit additional or more detailed information regarding their financial status if the Commission considers this information appropriate. Accordingly, the Commission has concluded that 10 CFR 50.71(b) ‘‘Maintenance of records, making of reports’’ and 10 CFR 72.80(b) ‘‘Other records and reports’’ may be revised to eliminate reporting requirements for licensees who file financial reports with the SEC or the FERC. Voluntary Consensus Standards The National Technology Transfer and Advancement Act of 1995, Public Law 104–113, requires that Federal agencies use technical standards that are developed or adopted by voluntary consensus standards bodies unless using such a standard is inconsistent with applicable law or is otherwise impractical. In this direct final rule, the NRC is eliminating the requirement to submit annual financial reports and certified financial statements to the Commission if financial reports are already submitted to the SEC or the FERC. These actions do not constitute the establishment of a standard that contains generally applicable requirements. Plain Language The Presidential Memorandum dated June 1, 1998, entitled ‘‘Plain Language in Government Writing,’’ directed that the Government’s writing be in plain language. The NRC requests comments on this direct final rule specifically with respect to the clarity and effectiveness of the language used. Comments should be sent to the address listed under the heading ADDRESSES above. Environmental Impact: Categorical Exclusion The NRC determined that this direct final rule is categorically excluded from E:\FR\FM\22MYR1.SGM 22MYR1 29246 Federal Register / Vol. 71, No. 98 / Monday, May 22, 2006 / Rules and Regulations NEPA because it does not have a significant impact on the human environment and does not substantially modify the regulations and is a minor non-policy change of the type of action described in categorical exclusion 10 CFR 51.22(c)(3)(iii) for rulemaking involving reporting requirements. This action eliminates the requirement to submit annual financial reports and certified financial statements to the Commission if financial reports are already submitted to the SEC or the FERC. Therefore, neither an environmental impact statement nor an environmental assessment has been prepared for this direct final rule. Paperwork Reduction Act Statement This direct final rule decreases the information collection burden contained in section 50.71(b) of 10 CFR part 50 and section 72.80(b) of 10 CFR part 72 that is subject to the Paperwork Reduction Act of 1995 (44 U.S.C. 3501 et seq.). The burden reduction for this information collection is estimated to average .50 hour(s) per response. Because the burden for this information collection is insignificant, Office of Management and Budget (OMB) clearance is not required. Existing requirements were approved by the Office of Management and Budget, approval number(s) 3150–0011 and 3150–0132. Public Protection Notification The NRC may not conduct or sponsor, and a person is not required to respond to, a request for information or an information collection requirement unless the requesting document displays a currently valid OMB control number. Regulatory Analysis A regulatory analysis has not been prepared for this direct final rule because this rule is considered a minor, nonsubstantive amendment; a relatively small impact on NRC licensees ($400 annual savings per licensee) and no economic impact on the public. erjones on PROD1PC71 with RULES Regulatory Flexibility Certification As required by the Regulatory Flexibility Act of 1980, 5 U.S.C. 605(b), the Commission certifies that this rule does not have a significant economic impact upon a substantial number of small entities.This final rule affects only the licensing and operation of nuclear power plants and independent spent fuel storage installations. The companies that own these facilities do not fall within the scope of the definition of ‘‘small entities’’ set forth in VerDate Aug<31>2005 13:15 May 19, 2006 Jkt 208001 the Regulatory Flexibility Act or the size standards established by the NRC. Backfit Analysis The NRC has determined that the backfit rule does not apply to this final rule and, therefore, a backfit analysis is not required because these amendments do not involve any provisions that would impose backfits as defined in 10 CFR 50.109(a)(1) or 10 CFR 72.62. The final rule imposes no new requirements on licensees, nor does it alter procedures at nuclear facilities or ISFSIs. Rather, it no longer requires licensees and applicants to submit annual financial reports and certified financial statements to the Commission. Licensees are free to continue submitting reports to the NRC. Therefore, the proposed requirement constitutes a voluntary relaxation and is not a backfit. Small Business Regulatory Enforcement Fairness Act In accordance with the Small Business Regulatory Enforcement fairness Act of 1996, the NRC has determined that this action is not a major rule and has verified this determination with the Office of Information and Regulatory Affairs, Office of Management and Budget. 10 CFR Part 50 Antitrust, Classified information, Criminal penalties, Fire protection, Intergovernmental relations, Nuclear power plants and reactors, Radiation protection, Reactor siting criteria, Reporting and recordkeeping requirements. 10 CFR Part 72 Administrative practice and procedure, Hazardous waste, Manpower training programs, Nuclear materials, Occupational safety and health, Penalties, Radiation protection, Reporting and recordkeeping requirements, Security measures, Spent fuel, Whistleblowing. I For the reasons set out in the preamble and under the authority of the Atomic Energy Act for 1954, as amended, the Energy Reorganization Act of 1974, as amended, and 5 U.S.C. 552 and 553, the NRC is adopting the following amendment to 10 CFR parts 50 and 72. PART 50—DOMESTIC LICENSING OF PRODUCTION AND UTILIZATION FACILITIES 1. The authority citation for 10 CFR part 50 continues to read as follows: I Frm 00006 Fmt 4700 2. In § 50.71, paragraph (b) is revised to read as follows: I § 50.71 Maintenance of records, making of reports. * List of Subjects PO 00000 Authority: Secs. 102, 103, 104, 105, 161, 182, 183, 186, 189, 68 Stat. 936, 937, 938, 948, 953, 954, 955, 956, as amended, sec. 234, 83 Stat. 444, as amended (42 U.S.C. 2132, 2133, 2134, 2135, 2201, 2232, 2233, 2236, 2239, 2282); secs. 201, as amended, 202, 206, 88 Stat. 1242, as amended, 1244, 1246 (42 U.S.C. 5841, 5842, 5846); sec. 1704, 112 Stat. 2750 (44 U.S.C. 3504 note). Section 50.7 also issued under Pub. L. 95– 601, sec. 10, 92 Stat. 2951 (42 U.S.C. 5851). Section 50.10 also issued under secs. 101, 185, 68 Stat. 955, as amended (42 U.S.C. 2131, 2235); sec. 102, Pub. L. 91–190, 83 Stat. 853 (42 U.S.C. 4332). Sections 50.13, 50.54(d), and 50.103 also issued under sec. 108, 68 Stat. 939, as amended (42 U.S.C. 2138). Sections 50.23, 50.35, 50.55, and 50.56 also issued under sec. 185, 68 Stat. 955 (42 U.S.C. 2235). Sections 50.33a, 50.55a and appendix Q also issued under sec. 102, Pub. L. 91–190, 83 Stat. 853 (42 U.S.C. 4332). Sections 50.34 and 50.54 also issued under sec. 204, 88 Stat. 1245 (42 U.S.C. 5844). Sections 50.58, 50.91, and 50.92 also issued under Pub. L. 97–415, 96 Stat. 2073 (42 U.S.C. 2239). Section 50.78 also issued under sec. 122, 68 Stat. 939 (42 U.S.C. 2152). Sections 50.80–50.81 also issued under sec. 184, 68 Stat. 954, as amended (42 U.S.C. 2234). Appendix F also issued under sec. 187, 68 Stat. 955 (42 U.S.C. 2237). Sfmt 4700 * * * * (b) With respect to any production or utilization facility of a type described in § 50.21(b) or 50.22, or a testing facility, each licensee and each holder of a construction permit shall submit its annual financial report, including the certified financial statements, to the Commission, as specified in § 50.4, upon issuance of the report. However, licensees and holders of a construction permit who submit a Form 10-Q with the Securities and Exchange Commission or a Form 1 with the Federal Energy Regulatory Commission, need not submit the annual financial report or the certified financial statement under this paragraph. * * * * * PART 72—LICENSING REQUIREMENTS FOR THE INDEPENDENT STORAGE OF SPENT NUCLEAR FUEL AND HIGH-LEVEL RADIOACTIVE WASTE. 3. The authority citation for 10 CFR part 72 continues to read as follows: I Authority: Secs, 51, 53, 57, 62, 63, 65, 69, 81, 161, 182, 183, 184, 186, 187, 189, 68 Stat. 929, 930, 932, 933, 934, 935, 948, 953, 954, 955, as amended; sec. 234, 83 Stat. 444, as amended (42 U.S.C. 2071, 2073, 2077, 2092, 2093, 2095, 2099, 2111, 2201, 2232, 2233, 2234, 2236, 2237, 2238, 2282); sec. 274, Pub. E:\FR\FM\22MYR1.SGM 22MYR1 Federal Register / Vol. 71, No. 98 / Monday, May 22, 2006 / Rules and Regulations L. 86–373, 73 Stat. 688, as amended (42 U.S.C. 2021); sec. 201, as amended; 202, 206, 88 Stat. 1242, as amended; 1244, 1246 (42 U.S.C. 5841, 5842, 5846); Pub. L. 95–601, sec. 10, 92 Stat. 2951 as amended by Pub. L. 102– 486, sec. 7902, 106 Stat. 3123 (42 U.S.C. 5851); sec. 102, Pub. L. 91–190, 83 Stat. 853 (42 U.S.C. 4332); secs. 131, 132, 133, 135, 137, 141, Pub. L. 97–425, 96 Stat. 2229, 2230, 2232, 2241; sec. 148, Pub. L. 100–203, 101 Stat. 1330–235 (42 U.S.C. 10151, 10152, 10153, 10155, 10157, 10161, 10168). Section 72.44(g) also issued under secs. 142(b) and 148 (c), (d), Pub. L. 100–203, 101 Stat. 1330–232, 1330–236 (42 U.S.C. 10162(b), 10168(c), (d)). Section 72.46 also issued under sec. 189, 68 Stat. 955 (42 U.S.C. 2239); sec. 134, Pub. L. 97–425, 96 Stat. 2230 (42 U.S.C. 10154). Section 72.96(d) also issued under section 145(g), Pub. L. 100–203, 101 Stat. 1330–235 (42 U.S.C. 10165(g)), Subpart J also issued under secs. 2(2), 2(15), 2(19), 117(a), 141(h), Pub. L. 97–425, 96 Stat. 2202, 2203, 2204, 2222, 2224 (42 U.S.C. 10101, 10137(a), 10161(h)). Subparts K and L are also issued under sec. 133, 98 Stat. 2230 (42 U.S.C. 10153) and sec. 218(a), 96 Stat. 2252 (U.S.C. 10198). 4. In § 72.80, paragraph (b) is revised to read as follows: I § 72.80 Other records and reports. * * * * * (b) Each licensee shall furnish a copy of its annual financial report, including the certified financial statements, to the Commission. However, licensees who submit a Form 10–Q with the Securities and Exchange Commission or a Form 1 with the Federal Energy Regulatory Commission, need not submit the annual financial report or a certified financial statement under this paragraph. * * * * * Dated at Rockville, Maryland, this 2nd day of May, 2006. For the Nuclear Regulatory Commission. Luis A. Reyes, Executive Director for Operations. [FR Doc. 06–4737 Filed 5–19–06; 8:45 am] BILLING CODE 7590–01–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 73 [Docket No. FAA–2003–16531; Airspace Docket No. 96–ASO–10] erjones on PROD1PC71 with RULES RIN 2120–AA66 Modification and Revocation of Restricted Areas R–3007A, B, C, D, and E; Townsend, GA Federal Aviation Administration (FAA), DOT. ACTION: Final rule. AGENCY: VerDate Aug<31>2005 13:15 May 19, 2006 Jkt 208001 SUMMARY: This action reconfigures Restricted Areas R–3007A, B, C, and D, and revokes Restricted Area R–3007E, Townsend, GA, by reducing the lateral size, increasing the vertical limits, and by increasing the time of designation of the restricted airspace by six hours per day. The FAA is taking this action to better accommodate Department of Defense (DOD) training requirements and to eliminate restricted airspace that is no longer needed by the military. Additionally, the name of the using agency for all R–3007 subareas is changed to reflect the current organizational title. This action also makes a minor correction to the latitude/longitude positions of two points in the descriptions of R–3007B and R–3007C. DATES: Effective 0901 UTC, August 3, 2006. Paul Gallant, Airspace and Rules, Office of System Operations Airspace and AIM, Federal Aviation Administration, 800 Independence Avenue, SW., Washington, DC 20591; telephone: (202) 267–8783. SUPPLEMENTARY INFORMATION: FOR FURTHER INFORMATION CONTACT: Background On December 5, 1996, the FAA published in the Federal Register a notice of proposed rulemaking (NPRM) to reconfigure the existing restricted airspace at Townsend Range, Georgia, by reducing the lateral size, increasing the vertical limits, increasing the time of designation of the restricted areas by six hours per day, and changing the name of the using agency to reflect the current organizational title (61 FR 64494). Interested parties were invited to participate in this rulemaking effort by submitting written comments on the proposal to the FAA. The FAA received no comments in response to the proposal. Further action on the proposal was then deferred pending the completion of additional environmental studies by the proponent. As a result of this delay, the FAA published a supplemental notice of proposed rulemaking on February 3, 2004, to readvertise the proposal and invite additional comment (69 FR 5099). One comment, expressing support for the proposed action, was received in response to the supplemental notice. Restricted Areas are published in subpart B of FAA Order 7400.8M, dated January 6, 2006 and effective February 16, 2006, which is incorporated by reference in 14 CFR 73. The Restricted Areas listed in this document will be published subsequently in the Order. PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 29247 The Rule This action amends Title 14 Code of Federal Regulations (14 CFR) part 73 to reconfigure restricted areas R–3007A, B, C, D, and E, at the Townsend Range, Georgia, to better accommodate Department of Defense training requirements, eliminate restricted airspace no longer needed for military training, and enable the more efficient use of airspace. This amendment eliminates all of the restricted airspace currently described as R–3007A and approximately one half of the restricted airspace currently described as R– 3007B. The remaining Townsend Range restricted airspace is redescribed as three subareas: R–3007A, B, and C. A new restricted area, designated R– 3007D, is established directly above R– 3007A, B, and C. The designation R– 3007E is no longer needed and is revoked. Specifically, R–3007A is revised to describe the circular surface target area that is currently designated as R–3007E. The designation R–3007E is revoked. The subarea currently designated as R– 3007D is redescribed as R–3007B. The existing subarea R–3007C is revised to retain its original area, plus incorporate the remaining portion of the former R– 3007B subarea. New restricted airspace is established above the revised R–3007A, B, and C subareas. This new area, designated R– 3007D, extends from 13,000 feet above mean sea level (MSL) to flight level (FL) 250. The purpose of R–3007D is to raise the ceiling of the Townsend Range from the current 13,000 feet MSL, to FL 250, in order to accommodate high altitude, high angle weapons delivery training. The existing 13,000 feet MSL ceiling at Townsend Range precludes the conduct of this essential training at the Range. This rule also increases the time of designation for the revised Townsend Range complex by six hours per day from the current ‘‘Monday–Friday, 0800–1700 local time; other times by NOTAM at least 24 hours in advance’’ to ‘‘Monday–Friday, 0700–2200 local time; other times by NOTAM at least 24 hours in advance.’’ This change permits more flexible range utilization and accommodates increased night training requirements. Finally, the using agency name for all subareas is changed from ‘‘Savannah Air National Guard Training Site, Garden City, GA’’ to ‘‘ANG, Savannah Combat Readiness Training Center, GA’’ to reflect the current organizational name. The Townsend Range complex will be joint-use airspace. The restricted areas will be returned to the controlling agency on a real-time basis when not required for E:\FR\FM\22MYR1.SGM 22MYR1

Agencies

[Federal Register Volume 71, Number 98 (Monday, May 22, 2006)]
[Rules and Regulations]
[Pages 29244-29247]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-4737]


=======================================================================
-----------------------------------------------------------------------

NUCLEAR REGULATORY COMMISSION

10 CFR Parts 50 and 72

RIN 3150-AH39


Submission of Annual Financial Reports: Elimination of 
Requirement

AGENCY: Nuclear Regulatory Commission.

ACTION: Direct final rule.

-----------------------------------------------------------------------

SUMMARY: The Nuclear Regulatory Commission (NRC) is amending its 
regulations so that licensees who file financial reports with the 
Securities and Exchange Commission (SEC) or the Federal Energy 
Regulatory Commission (FERC), need not submit annual financial reports, 
including the certified financial statements, to the Commission. The 
Commission is also amending its regulations so that Independent Spent 
Fuel Storage Installation (ISFSI) licensees who file financial reports 
with the SEC or the FERC, need not submit annual financial reports, 
including the certified financial statements, to the Commission.

DATES: Effective Date: The final rule is effective August 7, 2006, 
unless significant adverse comments are received by June 21, 2006. A 
significant adverse comment is a comment where the commenter explains 
why the rule would be inappropriate, including challenges to the rule's 
underlying premise or approach, or would be ineffective or unacceptable 
without change. If the rule is withdrawn, timely notice will be 
published in the Federal Register.

ADDRESSES: You may submit comments by any one of the following methods. 
Please include the following number RIN 3150-AH39 in the subject line 
of your comments. Comments on rulemakings or petitions submitted in 
writing or in electronic form will be made available for public 
inspection. Because your comments will not be edited to remove any 
identifying or contact information, the NRC cautions you against 
including personal information such as social security numbers and 
birth dates in your submission.
    Mail comments to: Secretary, U.S. Nuclear Regulatory Commission, 
Washington, DC 20555-0001, Attention: Rulemakings and Adjudications 
Staff.
    E-mail comments to: SECY@nrc.gov. If you do not receive a reply e-
mail confirming that we have received your comments, contact us 
directly at (301) 415-1966. You may also submit comments via the NRC's 
rulemaking Web site at https://ruleforum.llnl.gov. Address questions 
about our rulemaking Web site to Carol Gallagher (301) 415-5905; e-mail 
cag@nrc.gov. Comments can also be submitted via the Federal eRulemaking 
Portal https://www.regulations.gov.
    Hand deliver comments to: 11555 Rockville Pike, Rockville, Maryland 
20852, between 7:30 am and 4:15 p.m. on Federal workdays. (Telephone 
(301) 415-1966).
    Fax comments to: Secretary, U.S. Nuclear Regulatory Commission at 
(301) 415-1101.
    Publicly available documents related to this rulemaking or petition 
may be viewed electronically on the public computers located at the 
NRC's Public Document Room (PDR), O1F21, One White Flint North, 11555 
Rockville Pike, Rockville, Maryland. The PDR reproduction contractor 
will copy documents for a fee. Selected documents, including comments, 
may be viewed and downloaded electronically via the NRC rulemaking Web 
site at https://ruleforum.llnl.gov.
    Publicly available documents created or received at the NRC after 
November 1, 1999, are available electronically at the NRC's Public 
Electronic Reading Room at https://www.nrc.gov/reading-rm/adams.html. 
From this site, the public can gain entry into the NRC's Agencywide 
Documents Access and Management System (ADAMS), which provides text and 
image files of NRC's public documents. If you do not have access to 
ADAMS or if there are problems in accessing the documents located in 
ADAMS, contact the NRC Public Document Room (PDR) Reference staff at 1-
800-397-4209, 301-415-4737, or by e-mail to pdr@nrc.gov.

FOR FURTHER INFORMATION CONTACT: Michael T. Jamgochian, Office of 
Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, 
Washington, DC 20555-0001, telephone (301) 415-3224, e-mail 
MTJ1@nrc.gov.

SUPPLEMENTARY INFORMATION: In accordance with section 553(b)(3)(B) of 
the Administrative Procedures Act, the NRC is using the direct final 
rule process for this rule because the NRC considers this action to be 
noncontroversial, and does not anticipate significant adverse comments. 
The Commission considers this rulemaking action noncontroversial 
because the annual reports and the certified financial statements 
currently required by Sec.  50.71 (b) and 72.80 (b), are typically 
written for the shareholders, and contain information pertaining to 
financial qualifications, that may be outdated by the time it is 
published. The reports can be found posted on the company's Web site as 
well as on the SEC or FERC Web sites. The NRC has concluded that for 
licensees that are required to file financial reports with the SEC or 
the FERC, licensee financial information can be collected in a more 
cost-effective way than requiring licensees to submit the reports to 
the Commission, as required by 10 CFR 50.71(b) and 10 CFR 72.80 (b). 
The NRC has access to other more current sources of information than 
the annual financial reports to assess the licensees' financial 
condition, making the submittal of the annual financial report to the 
NRC unnecessary. Additionally, NRC has the authority to request 
licensees to submit additional or more detailed information regarding 
their financial status if the Commission considers this information 
appropriate.
    The amendments in this rule will become effective on August 7, 
2006. However, if the NRC receives significant adverse comments on this 
direct final rule by June 21, 2006, then the NRC will publish a 
document that withdraws this action and will subsequently address the 
comments received in a final rule as a response to the companion 
proposed rule published elsewhere in this Federal Register. Absent 
significant modifications to the proposed revisions requiring 
republication, the NRC will not initiate a second comment period on 
this action.

[[Page 29245]]

    A significant adverse comment is a comment where the commenter 
explains why the rule would be inappropriate, including challenges to 
the rule's underlying premise or approach, or would be ineffective or 
unacceptable without a change. A comment is adverse and significant if:
    (1) The comment opposes the rule and provides a reason sufficient 
to require a substantive response in a notice-and-comment process. For 
example, a substantive response is required when--
    (A) The comment causes the staff to reevaluate (or reconsider) its 
position or conduct additional analysis;
    (B) The comment raises an issue serious enough to warrant a 
substantive response to clarify or complete the record; or
    (C) The comment raises a relevant issue that was not previously 
addressed or considered by the staff.
    (2) The comment proposes a change or an addition to the rule and it 
is apparent that the rule would be ineffective or unacceptable without 
incorporation of the change or addition.
    (3) The comment causes the staff to make a change (other than 
editorial) to the rule.

Background

    Section 182.a of the Atomic Energy Act of 1954, as amended, 
provides that each application for a license shall state such 
information as the Commission, by rule or regulation, may determine to 
be necessary to decide the financial qualifications of the applicant as 
the Commission may deem appropriate for the license. The Act and the 
Commission's regulations reflect that the fundamental purpose of the 
financial qualifications provision of that section is the protection of 
the public health and safety and the common defense and security. 
Although the Commission's safety determinations required for the 
issuance of facility licenses are based upon extensive and detailed 
technical review, an applicant's financial qualifications can also 
contribute to the ability to meet its responsibilities on safety 
matters.

Discussion

    In SECY-02-0081, ``Staff Activities Related to the NRC Goal of 
Reducing Unnecessary Regulatory Burden on Power Reactor Licensees,'' 
dated May 13, 2002, the NRC staff described various interactions with 
stakeholders regarding ways to reduce unnecessary regulatory burden. By 
memorandum dated June 25, 2002, the Commission directed the staff to 
proceed with its evaluation of possible rule changes. In developing the 
initiative described in SECY-02-0081, the NRC staff had solicited 
observations and suggestions by placing a notice in the Federal 
Register (66 FR 22134; May 3, 2001) and sponsoring a workshop on May 
31, 2001. In a response letter dated July 2, 2001, the Nuclear Energy 
Institute (NEI) provided a list of suggestions from its members for 
possible changes to several regulations that could reduce unnecessary 
regulatory burden. This list included the annual reports and the 
certified financial statements currently required by Sec. Sec.  
50.71(b) and 72.80(b).
    These reports are typically written for the shareholders, and 
contain information pertaining to financial qualifications, such as:
    (1) A letter to the shareholders that covers the company's changing 
conditions, goals achieved or missed, and its outlook;
    (2) Sales and marketing data showing the product lines of the 
company, sales volume, and the products that produce the most revenue;
    (3) CPA (certified public accountant) opinion letter on the 
company's financials;
    (4) List of directors and officers;
    (5) Management discussion and analysis of significant financial 
trends;
    (6) Consolidated financial statements that show multi-year trends 
in revenue, spending, profits, inventory and debt;
    (7) Trends in the stock price;
    (8) Notes to the consolidated financial statements that explain 
most line items on the financials.
    By comparing the company's past year performance to previous years, 
insights can be obtained as to how the company, as a whole, has been 
doing financially as of the end of the past year.
    The information in the annual report and the certified financial 
statements may be outdated by the time they are published and submitted 
to the NRC. Accordingly, in many instances the NRC has been using a 
more current source of information, called Form 10-Q, the quarterly 
financial report submitted to the SEC. Form 10-Q usually contains:
    (1) The three months and the year-to-date income statement compared 
to the same period of the previous year;
    (2) The company's balance sheets;
    (3) The three months and year-to-date cash flow statements compared 
to the same period of the previous year;
    (4) Notes to the consolidated financial statements;
    (5) Management discussion and analysis of financial condition and 
results of operations.
    The Form 10-Q gives a snap shot of the company's performance on a 
quarterly basis. The report can be found posted on many company's Web 
sites as well as on the SEC Web site. Form 1, submitted to the FERC, 
contains similar up-to-date financial information that can be 
electronically accessed by the staff.
    The Commission has concluded that, for licensees that are required 
to file financial reports with the SEC or the FERC, licensees financial 
information can be collected in a more cost-effective way than 
requiring licensees to submit the reports required by 10 CFR 50.71(b) 
and 10 CFR 72.80(b). The NRC has access to other more current sources 
of information than the annual financial reports to assess the 
licensees' financial condition, making the submittal of the annual 
financial report to the NRC unnecessary. Additionally, NRC has the 
authority to request licensees to submit additional or more detailed 
information regarding their financial status if the Commission 
considers this information appropriate.
    Accordingly, the Commission has concluded that 10 CFR 50.71(b) 
``Maintenance of records, making of reports'' and 10 CFR 72.80(b) 
``Other records and reports'' may be revised to eliminate reporting 
requirements for licensees who file financial reports with the SEC or 
the FERC.

Voluntary Consensus Standards

    The National Technology Transfer and Advancement Act of 1995, 
Public Law 104-113, requires that Federal agencies use technical 
standards that are developed or adopted by voluntary consensus 
standards bodies unless using such a standard is inconsistent with 
applicable law or is otherwise impractical. In this direct final rule, 
the NRC is eliminating the requirement to submit annual financial 
reports and certified financial statements to the Commission if 
financial reports are already submitted to the SEC or the FERC. These 
actions do not constitute the establishment of a standard that contains 
generally applicable requirements.

Plain Language

    The Presidential Memorandum dated June 1, 1998, entitled ``Plain 
Language in Government Writing,'' directed that the Government's 
writing be in plain language. The NRC requests comments on this direct 
final rule specifically with respect to the clarity and effectiveness 
of the language used. Comments should be sent to the address listed 
under the heading ADDRESSES above.

Environmental Impact: Categorical Exclusion

    The NRC determined that this direct final rule is categorically 
excluded from

[[Page 29246]]

NEPA because it does not have a significant impact on the human 
environment and does not substantially modify the regulations and is a 
minor non-policy change of the type of action described in categorical 
exclusion 10 CFR 51.22(c)(3)(iii) for rulemaking involving reporting 
requirements. This action eliminates the requirement to submit annual 
financial reports and certified financial statements to the Commission 
if financial reports are already submitted to the SEC or the FERC. 
Therefore, neither an environmental impact statement nor an 
environmental assessment has been prepared for this direct final rule.

Paperwork Reduction Act Statement

    This direct final rule decreases the information collection burden 
contained in section 50.71(b) of 10 CFR part 50 and section 72.80(b) of 
10 CFR part 72 that is subject to the Paperwork Reduction Act of 1995 
(44 U.S.C. 3501 et seq.). The burden reduction for this information 
collection is estimated to average .50 hour(s) per response. Because 
the burden for this information collection is insignificant, Office of 
Management and Budget (OMB) clearance is not required. Existing 
requirements were approved by the Office of Management and Budget, 
approval number(s) 3150-0011 and 3150-0132.

Public Protection Notification

    The NRC may not conduct or sponsor, and a person is not required to 
respond to, a request for information or an information collection 
requirement unless the requesting document displays a currently valid 
OMB control number.

Regulatory Analysis

    A regulatory analysis has not been prepared for this direct final 
rule because this rule is considered a minor, nonsubstantive amendment; 
a relatively small impact on NRC licensees ($400 annual savings per 
licensee) and no economic impact on the public.

Regulatory Flexibility Certification

    As required by the Regulatory Flexibility Act of 1980, 5 U.S.C. 
605(b), the Commission certifies that this rule does not have a 
significant economic impact upon a substantial number of small 
entities.This final rule affects only the licensing and operation of 
nuclear power plants and independent spent fuel storage installations. 
The companies that own these facilities do not fall within the scope of 
the definition of ``small entities'' set forth in the Regulatory 
Flexibility Act or the size standards established by the NRC.

Backfit Analysis

    The NRC has determined that the backfit rule does not apply to this 
final rule and, therefore, a backfit analysis is not required because 
these amendments do not involve any provisions that would impose 
backfits as defined in 10 CFR 50.109(a)(1) or 10 CFR 72.62.
    The final rule imposes no new requirements on licensees, nor does 
it alter procedures at nuclear facilities or ISFSIs. Rather, it no 
longer requires licensees and applicants to submit annual financial 
reports and certified financial statements to the Commission. Licensees 
are free to continue submitting reports to the NRC. Therefore, the 
proposed requirement constitutes a voluntary relaxation and is not a 
backfit.

Small Business Regulatory Enforcement Fairness Act

    In accordance with the Small Business Regulatory Enforcement 
fairness Act of 1996, the NRC has determined that this action is not a 
major rule and has verified this determination with the Office of 
Information and Regulatory Affairs, Office of Management and Budget.

List of Subjects

10 CFR Part 50

    Antitrust, Classified information, Criminal penalties, Fire 
protection, Intergovernmental relations, Nuclear power plants and 
reactors, Radiation protection, Reactor siting criteria, Reporting and 
recordkeeping requirements.

10 CFR Part 72

    Administrative practice and procedure, Hazardous waste, Manpower 
training programs, Nuclear materials, Occupational safety and health, 
Penalties, Radiation protection, Reporting and recordkeeping 
requirements, Security measures, Spent fuel, Whistleblowing.


0
For the reasons set out in the preamble and under the authority of the 
Atomic Energy Act for 1954, as amended, the Energy Reorganization Act 
of 1974, as amended, and 5 U.S.C. 552 and 553, the NRC is adopting the 
following amendment to 10 CFR parts 50 and 72.

PART 50--DOMESTIC LICENSING OF PRODUCTION AND UTILIZATION 
FACILITIES

0
1. The authority citation for 10 CFR part 50 continues to read as 
follows:

    Authority: Secs. 102, 103, 104, 105, 161, 182, 183, 186, 189, 68 
Stat. 936, 937, 938, 948, 953, 954, 955, 956, as amended, sec. 234, 
83 Stat. 444, as amended (42 U.S.C. 2132, 2133, 2134, 2135, 2201, 
2232, 2233, 2236, 2239, 2282); secs. 201, as amended, 202, 206, 88 
Stat. 1242, as amended, 1244, 1246 (42 U.S.C. 5841, 5842, 5846); 
sec. 1704, 112 Stat. 2750 (44 U.S.C. 3504 note).
    Section 50.7 also issued under Pub. L. 95-601, sec. 10, 92 Stat. 
2951 (42 U.S.C. 5851). Section 50.10 also issued under secs. 101, 
185, 68 Stat. 955, as amended (42 U.S.C. 2131, 2235); sec. 102, Pub. 
L. 91-190, 83 Stat. 853 (42 U.S.C. 4332). Sections 50.13, 50.54(d), 
and 50.103 also issued under sec. 108, 68 Stat. 939, as amended (42 
U.S.C. 2138). Sections 50.23, 50.35, 50.55, and 50.56 also issued 
under sec. 185, 68 Stat. 955 (42 U.S.C. 2235). Sections 50.33a, 
50.55a and appendix Q also issued under sec. 102, Pub. L. 91-190, 83 
Stat. 853 (42 U.S.C. 4332). Sections 50.34 and 50.54 also issued 
under sec. 204, 88 Stat. 1245 (42 U.S.C. 5844). Sections 50.58, 
50.91, and 50.92 also issued under Pub. L. 97-415, 96 Stat. 2073 (42 
U.S.C. 2239). Section 50.78 also issued under sec. 122, 68 Stat. 939 
(42 U.S.C. 2152). Sections 50.80-50.81 also issued under sec. 184, 
68 Stat. 954, as amended (42 U.S.C. 2234). Appendix F also issued 
under sec. 187, 68 Stat. 955 (42 U.S.C. 2237).


0
2. In Sec.  50.71, paragraph (b) is revised to read as follows:


Sec.  50.71  Maintenance of records, making of reports.

* * * * *
    (b) With respect to any production or utilization facility of a 
type described in Sec.  50.21(b) or 50.22, or a testing facility, each 
licensee and each holder of a construction permit shall submit its 
annual financial report, including the certified financial statements, 
to the Commission, as specified in Sec.  50.4, upon issuance of the 
report. However, licensees and holders of a construction permit who 
submit a Form 10-Q with the Securities and Exchange Commission or a 
Form 1 with the Federal Energy Regulatory Commission, need not submit 
the annual financial report or the certified financial statement under 
this paragraph.
* * * * *

PART 72--LICENSING REQUIREMENTS FOR THE INDEPENDENT STORAGE OF 
SPENT NUCLEAR FUEL AND HIGH-LEVEL RADIOACTIVE WASTE.

0
3. The authority citation for 10 CFR part 72 continues to read as 
follows:

    Authority: Secs, 51, 53, 57, 62, 63, 65, 69, 81, 161, 182, 183, 
184, 186, 187, 189, 68 Stat. 929, 930, 932, 933, 934, 935, 948, 953, 
954, 955, as amended; sec. 234, 83 Stat. 444, as amended (42 U.S.C. 
2071, 2073, 2077, 2092, 2093, 2095, 2099, 2111, 2201, 2232, 2233, 
2234, 2236, 2237, 2238, 2282); sec. 274, Pub.

[[Page 29247]]

L. 86-373, 73 Stat. 688, as amended (42 U.S.C. 2021); sec. 201, as 
amended; 202, 206, 88 Stat. 1242, as amended; 1244, 1246 (42 U.S.C. 
5841, 5842, 5846); Pub. L. 95-601, sec. 10, 92 Stat. 2951 as amended 
by Pub. L. 102-486, sec. 7902, 106 Stat. 3123 (42 U.S.C. 5851); sec. 
102, Pub. L. 91-190, 83 Stat. 853 (42 U.S.C. 4332); secs. 131, 132, 
133, 135, 137, 141, Pub. L. 97-425, 96 Stat. 2229, 2230, 2232, 2241; 
sec. 148, Pub. L. 100-203, 101 Stat. 1330-235 (42 U.S.C. 10151, 
10152, 10153, 10155, 10157, 10161, 10168).
    Section 72.44(g) also issued under secs. 142(b) and 148 (c), 
(d), Pub. L. 100-203, 101 Stat. 1330-232, 1330-236 (42 U.S.C. 
10162(b), 10168(c), (d)). Section 72.46 also issued under sec. 189, 
68 Stat. 955 (42 U.S.C. 2239); sec. 134, Pub. L. 97-425, 96 Stat. 
2230 (42 U.S.C. 10154). Section 72.96(d) also issued under section 
145(g), Pub. L. 100-203, 101 Stat. 1330-235 (42 U.S.C. 10165(g)), 
Subpart J also issued under secs. 2(2), 2(15), 2(19), 117(a), 
141(h), Pub. L. 97-425, 96 Stat. 2202, 2203, 2204, 2222, 2224 (42 
U.S.C. 10101, 10137(a), 10161(h)). Subparts K and L are also issued 
under sec. 133, 98 Stat. 2230 (42 U.S.C. 10153) and sec. 218(a), 96 
Stat. 2252 (U.S.C. 10198).

0
4. In Sec.  72.80, paragraph (b) is revised to read as follows:


Sec.  72.80  Other records and reports.

* * * * *
    (b) Each licensee shall furnish a copy of its annual financial 
report, including the certified financial statements, to the 
Commission. However, licensees who submit a Form 10-Q with the 
Securities and Exchange Commission or a Form 1 with the Federal Energy 
Regulatory Commission, need not submit the annual financial report or a 
certified financial statement under this paragraph.
* * * * *

    Dated at Rockville, Maryland, this 2nd day of May, 2006.

    For the Nuclear Regulatory Commission.
Luis A. Reyes,
Executive Director for Operations.
[FR Doc. 06-4737 Filed 5-19-06; 8:45 am]
BILLING CODE 7590-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.