Safety Zones; U.S. Coast Guard Water Training Areas, Great Lakes, 62075-62076 [06-8849]

Download as PDF Federal Register / Vol. 71, No. 204 / Monday, October 23, 2006 / Proposed Rules mstockstill on PROD1PC76 with PROPOSALS applies to the transfer. Under paragraph (b)(1) of this section, N reduces its basis in Asset 2 by $5 to $25 and, under section 362(a), takes a basis in Asset 1 of $100. Under section 358(a), A receives N stock with a basis of $105. Example 7. Property transfer subject to both sections 362(e)(1) and 362(e)(2). (i) Facts. Foreign corporation FP transfers Asset 1 and Asset 2 to a domestic corporation DS in a transaction that qualifies under section 351. Asset 1 is not property described in section 362(e)(1)(B) and has a basis of $80 and a fair market value of $50. Asset 2 is property described in section 362(e)(1)(B) and has a basis of $120 and a value of $110. Section 367(b) does not apply to the transfer of Asset 1 or Asset 2. (ii) Analysis. Under paragraphs (b)(1) and (b)(3) of this section, a transfer is described in section 362(e)(1), and thus not subject to this section, only if and to the extent there is a transfer of property described in section 362(e)(1)(B) that otherwise would have a net built-in loss in the hands of the transferee. Because Asset 2 is property described in section 362(e)(1)(B) and DS would otherwise receive Asset 2 with a basis of $120 and a value of $110, FP’s transfer of property to DS is described in section 362(e)(1) only to the extent of the transfer of Asset 2. Asset 1 is not property described in section 362(e)(1)(B), and under section 362(a), DS would receive Asset 1 with a basis ($80) in excess of its fair market value ($50). Accordingly, this section applies solely to the transfer of Asset 1. Under paragraph (b)(1) of this section, DS reduces its basis in Asset 1 by $30 to $50. Under section 358(a), FP receives the DS stock with a basis of $200. Example 8. Section 304 sale of built-in loss stock. (i) Facts. Individual A owns all the stock of corporation X and corporation Y. A sells all his X stock to Y for $60. Under section 304, A is treated as though he transferred the X stock to Y in exchange for Y stock in a transaction to which section 351 applies. Then, Y is treated as redeeming the Y stock it was treated as having issued to A in the section 351 transaction. At the time of the transaction, A holds X stock with a basis of $90 and a fair market value of $60. A and Y do not elect to apply section 362(e)(2)(C) to reduce A’s basis in the Y stock deemed received. (ii) Analysis. Under section 362(a), Y would otherwise receive X stock with an aggregate basis of $90, which exceeds its aggregate fair market value of $60. As a result, the X stock has a net built-in loss of $30, and, under paragraph (b)(1) of this section, Y reduces its basis in the X stock received by $30 to $60. Under section 358(a), A receives the deemed issued Y stock with a basis of $90. (e) Effective date. This section applies to transactions occurring after the date these regulations are published as final regulations in the Federal Register. Par. 5. Section 1.705–1(a)(9) is added to read as follows: § 1.705–1 Determination of basis of partner’s interest. (a) * * * VerDate Aug<31>2005 15:46 Oct 20, 2006 Jkt 211001 (9) For basis adjustments necessary to coordinate sections 705 and 362(e)(2), see § 1.362–4(c)(6). * * * * * Par. 6. In § 1.1367–1, a new sentence is added at the end of paragraph (c)(2) to read as follows: § 1.1367–1 Adjustments to basis of shareholder’s stock in an S corporation. * * * * * (c) * * * (2) * * * For basis adjustments necessary to coordinate sections 1367 and 362(e)(2), see § 1.362–4(c)(7). * * * * * Mark E. Matthews, Deputy Commissioner for Services and Enforcement. [FR Doc. E6–17649 Filed 10–20–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 165 [USCG–2006–25767; CGD09–06–123] Safety Zones; U.S. Coast Guard Water Training Areas, Great Lakes Coast Guard, DHS. Notice of public meetings. AGENCY: ACTION: SUMMARY: This document provides the times and locations of for the additional public meetings which will be held by the Coast Guard to discuss issues relating to the proposed permanent safety zones located in the Great Lakes to conduct live gunnery training exercises. These meetings will be open to the public and are in addition to the four currently scheduled public meetings. The Coast Guard will hold five additional public meetings as follows: Monday, October 30, 2006 in Rochester, NY; Wednesday November 1, Waukegan, IL (Milwaukee, WI / Chicago, IL area); Friday November 3, in Charlevoix, MI; Monday, November 6, in Erie, PA; and Wednesday, November 8, Sturgeon Bay, WI. If you are unable to attend, you may submit comments to the Docket Management Facility by November 13, 2006. ADDRESSES: The Coast Guard will hold additional public meetings at the following addresses: 1. Rochester, NY: Rochester Fast Ferry Terminal, 1000 N. River Street, Rochester, NY 14612, (877) 283–7327; DATES: PO 00000 Frm 00015 Fmt 4702 Sfmt 4702 62075 2. Chicago, IL/ Milwaukee, WI: Genesee Theatre, 203 N. Genesee Street, Waukegan, IL 60085, (847) 782–2366; 3. Charlevoix, MI: Charlevoix Public Library, 220 W. Clinton Street, Charlevoix, MI 49720, (231) 547–2651; 4. Erie, PA: Port of Erie Cruise Boat Terminal, 1 Holland Street, Erie PA 16507, (814) 455–7557; and 5. Sturgeon Bay, WI: Stoneharbor Resort, 107 North First Avenue, Sturgeon Bay, WI (877) 746–0700. You may submit your comments and related material by one of the following means: (1) By mail to the Docket Management Facility (USCG–2006–2567), U.S. Department of Transportation, room PL– 401, 400 Seventh Street, SW., Washington, DC 20590–0001. (2) By delivery to room PL–401 on the Plaza level of the Nassif Building, 400 Seventh Street, SW., Washington, DC between 9 a.m. and 5 p.m. Monday through Friday, except Federal holidays. The telephone number is 202–366– 9329. (3) By fax to the Docket Management Facility at 202–493–2251. (4) Electronically through the Web site for the Docket Management System at http://dms.dot.gov. The Docket Management Facility maintains the public docket for the rulemaking. Comments and material received from the public will become part of this docket and will be available for inspection or copying at room PL– 401, located on the Plaza level of the Nassif Building at the same address between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. You may electronically access the public docket by performing a ‘‘Simple Search’’ for docket number 25767 on the Internet at http://dms.dot.gov. Electronic forms of all comments received into any of our dockets can be searched by the name of the individual submitting the comment (or signing the comment, if submitted on behalf of an association, business, labor unit, etc.) and is open to the public without restriction. You may review the Department of Transportation’s complete Privacy Act Statement in the Federal Register published on April 11, 2000 (65 FR 19477–78), or you may visit http://dms.dot.gov. FOR FURTHER INFORMATION CONTACT: For further information concerning this notice and the public meeting, contact Commander Gustav Wulfkuhle, Chief Enforcement Branch, Ninth Coast Guard District, Cleveland, Ohio at (216) 902– 6091. If you have any questions on viewing or submitting material to the docket, call Renee V. Wright, Program E:\FR\FM\23OCP1.SGM 23OCP1 62076 Federal Register / Vol. 71, No. 204 / Monday, October 23, 2006 / Proposed Rules Manager, Docket Operations, telephone 202–493–0402. SUPPLEMENTARY INFORMATION: mstockstill on PROD1PC76 with PROPOSALS Public Meetings The Coast Guard will hold five additional public meetings as follows: Monday, October 30, 2006 in Rochester, NY; Wednesday November 1, Waukegan, IL (Milwaukee, WI/Chicago, IL area); Friday, November 3, in Charlevoix, MI; Monday, November 6, in Erie, PA; and Wednesday, November 8, in Sturgeon Bay, WI. These meetings will be held to take comments regarding the proposed Safety Zones; U.S. Coast Guard Water Training Areas, Great Lakes, published on August 1, 2006, in the Federal Register at 71 FR 43402. The Coast Guard encourages interested persons to submit written data, views, or comments. Persons submitting comments should please include their name and address and identify the docket number (USCG– 2006–25767). You may submit your comments and material by mail, hand delivery, fax or electronic means to the Docket Management Facility at the address under ADDRESSES. Regulatory History On August 1, 2006, the Coast Guard published a notice of proposed rulemaking (NPRM) (71 FR 43402) to establish permanent safety zones throughout the Great Lakes, which would restrict vessels from portions of the Great Lakes during live fire gun exercises that will be conducted by Coast Guard cutters and small boats. The initial comment period for this NPRM ended on August 31, 2006. In response to public requests, the Coast Guard re-opened the comment period on this NPRM. (71 FR 53629, September 12, 2006) Re-opening the comment period from September 12, 2006 to November 13, 2006, provides the public more time to submit comments and recommendations. On September 19, 2006, the Coast Guard published a brief document announcing the dates of public meetings. (71 FR 54792) On September 27, 2006 we published a document containing detailed information about the first set of meetings. (71 FR 56420) On October 12, 2006, the Coast Guard announced that the addition of three more public meetings and again stated that more detailed information related to the meetings would be published at a later date. (71 FR 60094) This document provides detailed information regarding these additional meetings by providing the locations of the public meetings and the topics to be discussed. We are also announcing the addition of VerDate Aug<31>2005 15:46 Oct 20, 2006 Jkt 211001 public meetings to be held in Erie, PA and Sturgeon Bay, WI. Background and Purpose The thirty-four permanent safety zones proposed in the NPRM will be located throughout the Great Lakes in order to accommodate the training needs of 57 separate Coast Guard units. The proposed safety zones are all located more than three nautical miles from the shoreline. Establishing permanent training areas serves to notify the public and solicit its input on selection of the training locations. The proposed safety zones will be enforced only when training is conducted, and then only after notice by the Captain of the Port for the area in which the exercise will be held. The Captain of the Port will use all appropriate means to effect the widest publicity among the affected segments of the public, including publication in the Federal Register if practicable, in accordance with 33 CFR 65.7(a). Such means of notification may also include, but are not limited to, Broadcast Notice to Mariners or Local Notice to Mariners. The appropriate Captain of the Port will also issue a Broadcast Notice to Mariners and Local Notice to Mariners notifying the public when enforcement of a live fire exercise safety zone is suspended. Interested individuals are encouraged to attend the open house forums and public meetings, provide comments and ask questions about the weapons training areas. In the event that the Coast Guard decides to conduct a higher level of environmental analysis pursuant to the National Environmental Policy Act, input received from all nine public meetings in the Great Lakes area will serve as ‘‘scoping,’’ to determine the issues to be addressed in that analysis. Meeting Times and Topics The meetings are expected to run from 5:30 p.m. to 8 p.m. (local). We may end the meetings early if there are no additional comments or questions. Topics to be covered during the public meetings include the following: (1) Introduction of the proposed zones and the need to train on the Great Lakes; (2) How the Coast Guard determined the locations of the zones; (3) Scheduling and frequency of training in the zones; (4) Notification procedures; (5) Safety procedures; (6) Weapons and munitions; and (7) Environmental risk assessment overview. Before the start of the formal public meetings, from 4 p.m. to 5:30 p.m. PO 00000 Frm 00016 Fmt 4702 Sfmt 4702 (local), the Coast Guard is hosting an open house so that the public can speak with Coast Guard personnel and obtain more information on the proposed zones. Procedure Each open house and meeting is open to the public. Ideally, comments will provide specific information and facts related to the impact of the zone(s) on the commenter. Detailed and focused comments will enable the Coast Guard to address identified areas of concern in the rulemaking process. Please note that the meeting may close early if all business is finished. If you are unable to attend, you may submit comments to the Docket Management Facility at the address under ADDRESSES by November 13, 2006. Information on Services for Individuals With Disabilities If you plan to attend any of the public meetings and require special assistance, such as sign language interpretation or other reasonable accommodations, please contact us as indicated in FOR FURTHER INFORMATION CONTACT. Dated: October 18, 2006. John E. Crowley, Jr., Rear Admiral, U.S. Coast Guard, Commander, Ninth Coast Guard District. [FR Doc. 06–8849 Filed 10–19–06; 3:10 pm] BILLING CODE 4910–15–P ENVIRONMENTAL PROTECTION AGENCY 40 CFR Parts 51 and 52 [EPA–HQ–OAR–2003–0064; FRL–8233–4] RIN 2060–AL75 Prevention of Significant Deterioration (PSD) and Nonattainment New Source Review (NSR): Debottlenecking, Aggregation, and Project Netting Environmental Protection Agency (EPA). ACTION: Notice of public hearing. AGENCY: SUMMARY: The EPA is announcing a public hearing to be held on November 6, 2006, for the proposed rule on ‘‘Prevention of Significant Deterioration (PSD) and Nonattainment New Source Review (NSR): Debottlenecking, Aggregation, and Project Netting.’’ This rulemaking action was published in the Federal Register on September 14, 2006 and proposes to revise the regulations governing the NSR programs mandated by parts C and D of title I of the Clean Air Act. The public hearing will provide interested parties the opportunity to E:\FR\FM\23OCP1.SGM 23OCP1

Agencies

[Federal Register Volume 71, Number 204 (Monday, October 23, 2006)]
[Proposed Rules]
[Pages 62075-62076]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 06-8849]


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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 165

[USCG-2006-25767; CGD09-06-123]


Safety Zones; U.S. Coast Guard Water Training Areas, Great Lakes

AGENCY: Coast Guard, DHS.

ACTION: Notice of public meetings.

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

SUMMARY: This document provides the times and locations of for the 
additional public meetings which will be held by the Coast Guard to 
discuss issues relating to the proposed permanent safety zones located 
in the Great Lakes to conduct live gunnery training exercises. These 
meetings will be open to the public and are in addition to the four 
currently scheduled public meetings.

DATES: The Coast Guard will hold five additional public meetings as 
follows: Monday, October 30, 2006 in Rochester, NY; Wednesday November 
1, Waukegan, IL (Milwaukee, WI / Chicago, IL area); Friday November 3, 
in Charlevoix, MI; Monday, November 6, in Erie, PA; and Wednesday, 
November 8, Sturgeon Bay, WI. If you are unable to attend, you may 
submit comments to the Docket Management Facility by November 13, 2006.

ADDRESSES: The Coast Guard will hold additional public meetings at the 
following addresses:
    1. Rochester, NY: Rochester Fast Ferry Terminal, 1000 N. River 
Street, Rochester, NY 14612, (877) 283-7327;
    2. Chicago, IL/ Milwaukee, WI: Genesee Theatre, 203 N. Genesee 
Street, Waukegan, IL 60085, (847) 782-2366;
    3. Charlevoix, MI: Charlevoix Public Library, 220 W. Clinton 
Street, Charlevoix, MI 49720, (231) 547-2651;
    4. Erie, PA: Port of Erie Cruise Boat Terminal, 1 Holland Street, 
Erie PA 16507, (814) 455-7557; and
    5. Sturgeon Bay, WI: Stoneharbor Resort, 107 North First Avenue, 
Sturgeon Bay, WI (877) 746-0700.
    You may submit your comments and related material by one of the 
following means:
    (1) By mail to the Docket Management Facility (USCG-2006-2567), 
U.S. Department of Transportation, room PL-401, 400 Seventh Street, 
SW., Washington, DC 20590-0001.
    (2) By delivery to room PL-401 on the Plaza level of the Nassif 
Building, 400 Seventh Street, SW., Washington, DC between 9 a.m. and 5 
p.m. Monday through Friday, except Federal holidays. The telephone 
number is 202-366-9329.
    (3) By fax to the Docket Management Facility at 202-493-2251.
    (4) Electronically through the Web site for the Docket Management 
System at http://dms.dot.gov.
    The Docket Management Facility maintains the public docket for the 
rulemaking. Comments and material received from the public will become 
part of this docket and will be available for inspection or copying at 
room PL-401, located on the Plaza level of the Nassif Building at the 
same address between 9 a.m. and 5 p.m., Monday through Friday, except 
Federal holidays. You may electronically access the public docket by 
performing a ``Simple Search'' for docket number 25767 on the Internet 
at http://dms.dot.gov.
    Electronic forms of all comments received into any of our dockets 
can be searched by the name of the individual submitting the comment 
(or signing the comment, if submitted on behalf of an association, 
business, labor unit, etc.) and is open to the public without 
restriction. You may review the Department of Transportation's complete 
Privacy Act Statement in the Federal Register published on April 11, 
2000 (65 FR 19477-78), or you may visit http://dms.dot.gov.

FOR FURTHER INFORMATION CONTACT: For further information concerning 
this notice and the public meeting, contact Commander Gustav Wulfkuhle, 
Chief Enforcement Branch, Ninth Coast Guard District, Cleveland, Ohio 
at (216) 902-6091. If you have any questions on viewing or submitting 
material to the docket, call Renee V. Wright, Program

[[Page 62076]]

Manager, Docket Operations, telephone 202-493-0402.

SUPPLEMENTARY INFORMATION:

Public Meetings

    The Coast Guard will hold five additional public meetings as 
follows: Monday, October 30, 2006 in Rochester, NY; Wednesday November 
1, Waukegan, IL (Milwaukee, WI/Chicago, IL area); Friday, November 3, 
in Charlevoix, MI; Monday, November 6, in Erie, PA; and Wednesday, 
November 8, in Sturgeon Bay, WI. These meetings will be held to take 
comments regarding the proposed Safety Zones; U.S. Coast Guard Water 
Training Areas, Great Lakes, published on August 1, 2006, in the 
Federal Register at 71 FR 43402.
    The Coast Guard encourages interested persons to submit written 
data, views, or comments. Persons submitting comments should please 
include their name and address and identify the docket number (USCG-
2006-25767). You may submit your comments and material by mail, hand 
delivery, fax or electronic means to the Docket Management Facility at 
the address under ADDRESSES.

Regulatory History

    On August 1, 2006, the Coast Guard published a notice of proposed 
rulemaking (NPRM) (71 FR 43402) to establish permanent safety zones 
throughout the Great Lakes, which would restrict vessels from portions 
of the Great Lakes during live fire gun exercises that will be 
conducted by Coast Guard cutters and small boats. The initial comment 
period for this NPRM ended on August 31, 2006. In response to public 
requests, the Coast Guard re-opened the comment period on this NPRM. 
(71 FR 53629, September 12, 2006) Re-opening the comment period from 
September 12, 2006 to November 13, 2006, provides the public more time 
to submit comments and recommendations. On September 19, 2006, the 
Coast Guard published a brief document announcing the dates of public 
meetings. (71 FR 54792) On September 27, 2006 we published a document 
containing detailed information about the first set of meetings. (71 FR 
56420)
    On October 12, 2006, the Coast Guard announced that the addition of 
three more public meetings and again stated that more detailed 
information related to the meetings would be published at a later date. 
(71 FR 60094) This document provides detailed information regarding 
these additional meetings by providing the locations of the public 
meetings and the topics to be discussed. We are also announcing the 
addition of public meetings to be held in Erie, PA and Sturgeon Bay, 
WI.

Background and Purpose

    The thirty-four permanent safety zones proposed in the NPRM will be 
located throughout the Great Lakes in order to accommodate the training 
needs of 57 separate Coast Guard units. The proposed safety zones are 
all located more than three nautical miles from the shoreline. 
Establishing permanent training areas serves to notify the public and 
solicit its input on selection of the training locations.
    The proposed safety zones will be enforced only when training is 
conducted, and then only after notice by the Captain of the Port for 
the area in which the exercise will be held. The Captain of the Port 
will use all appropriate means to effect the widest publicity among the 
affected segments of the public, including publication in the Federal 
Register if practicable, in accordance with 33 CFR 65.7(a). Such means 
of notification may also include, but are not limited to, Broadcast 
Notice to Mariners or Local Notice to Mariners. The appropriate Captain 
of the Port will also issue a Broadcast Notice to Mariners and Local 
Notice to Mariners notifying the public when enforcement of a live fire 
exercise safety zone is suspended.
    Interested individuals are encouraged to attend the open house 
forums and public meetings, provide comments and ask questions about 
the weapons training areas. In the event that the Coast Guard decides 
to conduct a higher level of environmental analysis pursuant to the 
National Environmental Policy Act, input received from all nine public 
meetings in the Great Lakes area will serve as ``scoping,'' to 
determine the issues to be addressed in that analysis.

Meeting Times and Topics

    The meetings are expected to run from 5:30 p.m. to 8 p.m. (local). 
We may end the meetings early if there are no additional comments or 
questions.
    Topics to be covered during the public meetings include the 
following:
    (1) Introduction of the proposed zones and the need to train on the 
Great Lakes;
    (2) How the Coast Guard determined the locations of the zones;
    (3) Scheduling and frequency of training in the zones;
    (4) Notification procedures;
    (5) Safety procedures;
    (6) Weapons and munitions; and
    (7) Environmental risk assessment overview.
    Before the start of the formal public meetings, from 4 p.m. to 5:30 
p.m. (local), the Coast Guard is hosting an open house so that the 
public can speak with Coast Guard personnel and obtain more information 
on the proposed zones.

Procedure

    Each open house and meeting is open to the public. Ideally, 
comments will provide specific information and facts related to the 
impact of the zone(s) on the commenter. Detailed and focused comments 
will enable the Coast Guard to address identified areas of concern in 
the rulemaking process. Please note that the meeting may close early if 
all business is finished. If you are unable to attend, you may submit 
comments to the Docket Management Facility at the address under 
ADDRESSES by November 13, 2006.

Information on Services for Individuals With Disabilities

    If you plan to attend any of the public meetings and require 
special assistance, such as sign language interpretation or other 
reasonable accommodations, please contact us as indicated in FOR 
FURTHER INFORMATION CONTACT.

    Dated: October 18, 2006.
John E. Crowley, Jr.,
Rear Admiral, U.S. Coast Guard, Commander, Ninth Coast Guard District.
[FR Doc. 06-8849 Filed 10-19-06; 3:10 pm]
BILLING CODE 4910-15-P