Small Business Size Regulations, HUBZone Program; Correction, 69183 [E6-20268]
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69183
Rules and Regulations
Federal Register
Vol. 71, No. 230
Thursday, November 30, 2006
This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
SMALL BUSINESS ADMINISTRATION
13 CFR Parts 121 and 126
RIN 3245–AE76, 3245–AE66
Small Business Size Regulations,
HUBZone Program; Correction
U.S. Small Business
Administration.
ACTION: Correcting amendments.
AGENCY:
ycherry on PROD1PC64 with RULES
List of Subjects
13 CFR Part 121
The U.S. Small Business
Administration (SBA) is correcting
amendments to regulations governing
SBA’s Small Business Innovation
Research (SBIR) Program and its
Historically Underutilized Business
Zone (HUBZone) Program. These
regulations addressed Employee Stock
Ownership Plans, or ESOPs, but
incorrectly referred to the ESOP as an
Employee Stock Option Plan.
EFFECTIVE DATE: These corrections are
effective on November 30, 2006.
FOR FURTHER INFORMATION CONTACT: Carl
Jordan, Office of Size Standards, (202)
205–6618 or by e-mail at sizestandards
@SBA.gov; Michael P. McHale,
Associate Administrator for the
HUBZone Program, (202) 205–8885 or
by e-mail, at hubzone@sba.gov.
SUPPLEMENTARY INFORMATION: The SBA
published a final rule in the December
3, 2004 Federal Register (69 FR 70180)
that amended the regulations governing
size for the SBIR program. In the
preamble to the regulation, SBA stated
that it received comments supporting
ownership and control of SBIR concerns
by Employee Stock Ownership Plans, or
ESOPs, for investment and employee
incentive purposes. In the final rule,
however, SBA inadvertently referred to
the ESOP as an Employee Stock Option
Plan. An ESOP is a retirement plan in
which the small business contributes its
stock to the plan for the benefit of the
company’s employees. Hence, SBA’s
regulations provide that it will consider
SUMMARY:
VerDate Aug<31>2005
14:39 Nov 29, 2006
Jkt 211001
each stock trustee and plan member to
be an owner of an SBIR concern, since
with an ESOP all employees that are
part of the plan own the stock in the
company. In comparison, an employee
stock option plan is merely a right given
to an employee to buy the company’s
stock at a set price within a certain
period of time. To avoid confusion on
this issue, SBA is correcting this error.
SBA published in the May 24, 2004
Federal Register (69 FR 29411) a final
rule that amended the regulations
governing the HUBZone Program. In the
final rule, SBA inadvertently referred to
an ESOP as an Employee Stock Option
Plan. Again, SBA meant to state that an
ESOP is an Employee Stock Ownership
Plan. Therefore, SBA is correcting this
regulation as well.
Administrative practice and
procedure, Government procurement,
Government property, Grant programs—
business, Loan programs—business,
Reporting and recordkeeping
requirements, Small businesses.
13 CFR Part 126
Accordingly, 13 CFR parts 121 and
126 are corrected by making the
following correcting amendments:
I
PART 121—SMALL BUSINESS SIZE
REGULATIONS
1. The authority citation for part 121
continues to read as follows:
I
Authority: 15 U.S.C. 632, 634(b)(6), 636(b),
637(a), 644, and 662(5); and Pub. L. 105–135,
sec. 401 et seq., 111 Stat. 2592.
2. Amend § 121.702 by revising
paragraph (a)(2) to read as follows:
I
§ 121.702 What size standards are
applicable to the SBIR program?
*
*
*
*
*
(a) * * *
(2) If an Employee Stock Ownership
Plan owns all or part of the concern,
SBA considers each stock trustee and
plan member to be an owner.
*
*
*
*
*
Frm 00001
Fmt 4700
3. The authority citation for part 126
continues to read as follows:
I
Authority: 15 U.S.C. 632(a), 632(j), 632(p)
and 657a.
4. Amend § 126.201 by revising the
second sentence of the introductory text
to read as follows:
I
§ 126.201 Who does SBA consider to own
a HUBZone SBC?
* * * If an Employee Stock
Ownership Plan owns all or part of the
concern, SBA considers each stock
trustee and plan member to be an
owner. * * *
*
*
*
*
*
Dated: November 17, 2006.
Anthony Martoccia,
Associate Deputy Administrator, Government
Contracting and Business Development.
[FR Doc. E6–20268 Filed 11–29–06; 8:45 am]
BILLING CODE 8025–01–P
DEPARTMENT OF TRANSPORTATION
Federal Aviation Administration
14 CFR Part 25
Administrative practice and
procedure, Government procurement,
Reporting and recordkeeping
requirements, Small businesses.
PO 00000
PART 126—HUBZONE PROGRAM
Sfmt 4700
[Docket No. NM321; Special Condition No.
25–338–SC]
Special Conditions: Airbus Model
A380–800 Airplane, Ground Turning
Loads
Federal Aviation
Administration (FAA), DOT.
ACTION: Final special conditions.
AGENCY:
SUMMARY: These special conditions are
issued for the Airbus A380–800
airplane. This airplane will have novel
or unusual design features when
compared to the state of technology
envisioned in the airworthiness
standards for transport category
airplanes. Many of these novel or
unusual design features are associated
with the complex systems and the
configuration of the airplane, including
its full-length double deck. For these
design features, the applicable
airworthiness regulations do not contain
adequate or appropriate safety standards
regarding ground turning loads. These
special conditions contain the
additional safety standards that the
Administrator considers necessary to
E:\FR\FM\30NOR1.SGM
30NOR1
Agencies
[Federal Register Volume 71, Number 230 (Thursday, November 30, 2006)]
[Rules and Regulations]
[Page 69183]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-2]
========================================================================
Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
Prices of new books are listed in the first FEDERAL REGISTER issue of each
week.
========================================================================
Federal Register / Vol. 71, No. 230 / Thursday, November 30, 2006 /
Rules and Regulations
[[Page 69183]]
SMALL BUSINESS ADMINISTRATION
13 CFR Parts 121 and 126
RIN 3245-AE76, 3245-AE66
Small Business Size Regulations, HUBZone Program; Correction
AGENCY: U.S. Small Business Administration.
ACTION: Correcting amendments.
-----------------------------------------------------------------------
SUMMARY: The U.S. Small Business Administration (SBA) is correcting
amendments to regulations governing SBA's Small Business Innovation
Research (SBIR) Program and its Historically Underutilized Business
Zone (HUBZone) Program. These regulations addressed Employee Stock
Ownership Plans, or ESOPs, but incorrectly referred to the ESOP as an
Employee Stock Option Plan.
EFFECTIVE DATE: These corrections are effective on November 30, 2006.
FOR FURTHER INFORMATION CONTACT: Carl Jordan, Office of Size Standards,
(202) 205-6618 or by e-mail atsizestandards@SBA.gov; Michael P.
McHale, Associate Administrator for the HUBZone Program, (202) 205-8885
or by e-mail, at hubzone@sba.gov.
SUPPLEMENTARY INFORMATION: The SBA published a final rule in the
December 3, 2004 Federal Register (69 FR 70180) that amended the
regulations governing size for the SBIR program. In the preamble to the
regulation, SBA stated that it received comments supporting ownership
and control of SBIR concerns by Employee Stock Ownership Plans, or
ESOPs, for investment and employee incentive purposes. In the final
rule, however, SBA inadvertently referred to the ESOP as an Employee
Stock Option Plan. An ESOP is a retirement plan in which the small
business contributes its stock to the plan for the benefit of the
company's employees. Hence, SBA's regulations provide that it will
consider each stock trustee and plan member to be an owner of an SBIR
concern, since with an ESOP all employees that are part of the plan own
the stock in the company. In comparison, an employee stock option plan
is merely a right given to an employee to buy the company's stock at a
set price within a certain period of time. To avoid confusion on this
issue, SBA is correcting this error.
SBA published in the May 24, 2004 Federal Register (69 FR 29411) a
final rule that amended the regulations governing the HUBZone Program.
In the final rule, SBA inadvertently referred to an ESOP as an Employee
Stock Option Plan. Again, SBA meant to state that an ESOP is an
Employee Stock Ownership Plan. Therefore, SBA is correcting this
regulation as well.
List of Subjects
13 CFR Part 121
Administrative practice and procedure, Government procurement,
Government property, Grant programs--business, Loan programs--business,
Reporting and recordkeeping requirements, Small businesses.
13 CFR Part 126
Administrative practice and procedure, Government procurement,
Reporting and recordkeeping requirements, Small businesses.
0
Accordingly, 13 CFR parts 121 and 126 are corrected by making the
following correcting amendments:
PART 121--SMALL BUSINESS SIZE REGULATIONS
0
1. The authority citation for part 121 continues to read as follows:
Authority: 15 U.S.C. 632, 634(b)(6), 636(b), 637(a), 644, and
662(5); and Pub. L. 105-135, sec. 401 et seq., 111 Stat. 2592.
0
2. Amend Sec. 121.702 by revising paragraph (a)(2) to read as follows:
Sec. 121.702 What size standards are applicable to the SBIR program?
* * * * *
(a) * * *
(2) If an Employee Stock Ownership Plan owns all or part of the
concern, SBA considers each stock trustee and plan member to be an
owner.
* * * * *
PART 126--HUBZONE PROGRAM
0
3. The authority citation for part 126 continues to read as follows:
Authority: 15 U.S.C. 632(a), 632(j), 632(p) and 657a.
0
4. Amend Sec. 126.201 by revising the second sentence of the
introductory text to read as follows:
Sec. 126.201 Who does SBA consider to own a HUBZone SBC?
* * * If an Employee Stock Ownership Plan owns all or part of the
concern, SBA considers each stock trustee and plan member to be an
owner. * * *
* * * * *
Dated: November 17, 2006.
Anthony Martoccia,
Associate Deputy Administrator, Government Contracting and Business
Development.
[FR Doc. E6-20268 Filed 11-29-06; 8:45 am]
BILLING CODE 8025-01-P