Guidance Regarding the Active Trade or Business Requirement Under Section 355(b); Correction, 31021-31022 [E7-10799]
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Federal Register / Vol. 72, No. 107 / Tuesday, June 5, 2007 / Proposed Rules
§ 661.57 How is a list of deficient bridges
to be generated?
DEPARTMENT OF THE TREASURY
(a) In consultation with the BIA, a list
of deficient BIA IRR bridges will be
developed each fiscal year by the FHWA
based on the annual April update of the
NBI. The NBI is based on data from the
inspection of all bridges. Likewise, a list
of non-BIA IRR bridges will be obtained
from the NBI. These lists would form
the basis for identifying bridges that
would be considered potentially eligible
for participation in the IRRBP. Two
separate master bridge lists (one each for
BIA and non-BIA IRR bridges) will be
developed and will include, at a
minimum, the following:
(1) Sufficiency rating (SR);
(2) Status (structurally deficient or
functionally obsolete);
(3) Average daily traffic (NBI item 29);
(4) Detour length (NBI item 19); and
(5) Truck average daily traffic (NBI
item 109).
(b) These lists would be provided by
the FHWA to the BIADOT for
publication and notification of affected
BIA regional offices, Indian tribal
governments (ITGs), and State and local
governments.
(c) BIA regional offices in
consultation with ITGs, are encouraged
to prioritize the design for bridges that
are structurally deficient over bridges
that are simply functionally obsolete,
since the former is more critical
structurally than the latter. Bridges that
have higher average daily traffic (ADT)
should be considered before those that
have lower ADT. Detour length should
also be a factor in selection and
submittal of bridges, with those having
a higher detour length being of greater
concern. Lastly, bridges with higher
truck ADT should take precedence over
those which have lower truck ADT.
Other items of note should be whether
school buses use the bridge and the
types of trucks that may cross the bridge
and the loads imposed.
Internal Revenue Service
cprice-sewell on PROD1PC71 with PROPOSALS
§ 661.59 What should be done with a
deficient BIA owned IRR bridge if the Indian
tribe does not support the project?
The BIA should notify the tribe and
encourage the tribe to develop and
submit an application package to FHWA
for replacement of the bridge. For safety
of the motoring public, if the tribe
decides not to pursue the replacement
of the bridge, the BIA shall work with
the tribe to close the bridge, demolish
the bridge and remove it from the IRR
inventory in accordance with 25 CFR
part 170 (170.813).
[FR Doc. E7–9869 Filed 6–4–07; 8:45 am]
BILLING CODE 4910–22–P
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26 CFR Part 1
[REG–123365–03]
RIN 1545–BC94
Guidance Regarding the Active Trade
or Business Requirement Under
Section 355(b); Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correction to notice of proposed
rulemaking.
AGENCY:
SUMMARY: This document contains
corrections to a notice of proposed
rulemaking (REG–123365–03) that was
published in the Federal Register on
Tuesday, May 8, 2007 (72 FR 26012)
providing guidance on issues involving
the active trade or business requirement
under section 355(b), including
guidance resulting from the enactment
of section 355(b)(3).
FOR FURTHER INFORMATION CONTACT:
Russell P. Subin, (202) 622–7790 (not a
toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The correction notice that is the
subject of this document is under
section 355(b) of the Internal Revenue
Code.
Need for Correction
As published, the notice of proposed
rulemaking (REG–123365–03) contains
errors that may prove to be misleading
and are in need of clarification.
Correction of Publication
Accordingly, the publication of
proposed rulemaking (REG–123365–03),
which was the subject of FR Doc. 07–
2269, is corrected as follows:
1. On page 26014, column 2, in the
preamble, under the paragraph heading
‘‘1. SAG Rule Applicable During the
Pre-Distribution Period’’, second
paragraph of the column, fourth line,
the language ‘‘members are disregarded
and all assets’’ is corrected to read
‘‘members is disregarded and all assets’’.
2. On page 26014, column 2, in the
preamble, under the paragraph heading
‘‘1. SAG Rule Applicable During the
Pre-Distribution Period’’, second
paragraph of the column, eleventh line,
the language ‘‘a five-year active trade or
businesses.’’ is corrected to read ‘‘a fiveyear active trade or business.’’.
3. On page 26015, column 1, in the
preamble, under the paragraph heading
‘‘3. Acquisitions of Stock in Subsidiary
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31021
SAG Members’’, fifth line of the column,
the language ‘‘in sections B.4 and
C.3.a.ii. of this’’ is corrected to read ‘‘in
sections B.4. and C.3.a.ii. of this’’.
4. On page 26015, column 1, in the
preamble, under the paragraph heading
‘‘C. Acquisitions of a Trade or
Business’’, second line of the paragraph,
the language ‘‘provide that a trade or
business’’ is corrected to read ‘‘provides
that a trade or business’’.
5. On page 26015, column 3, in the
preamble, under the paragraph heading
‘‘1. Purpose of Section 355(b)(2)(C) and
(D)’’, second paragraph of the column,
fourth line, the language ‘‘using it
assets—instead of its stock, or’’ is
corrected to read ‘‘using its assets—
instead of its stock, or’’.
6. On page 26016, column 2, in the
preamble, under the paragraph heading
‘‘i. Certain Acquisitions by the DSAG or
CSAG’’, last line of the first paragraph,
the language ‘‘assets to acquire the trade
or business’’ is corrected to read ‘‘assets
to acquire the trade or business.’’.
7. On page 26016, column 3, in the
preamble, under the paragraph heading
‘‘ii. Certain Acquisitions by a
Distributee Corporation’’, tenth line of
the paragraph, the language ‘‘section A.1
of this preamble, section’’ is corrected to
read ‘‘section A.1. of this preamble,
section’’.
8. On page 26017, column 2, in the
preamble, under the paragraph heading
‘‘i. Acquisitions in Exchange for
Assets’’, third paragraph of the column,
first line, the language ‘‘As discussed in
section C.1 of this’’ is corrected to read
‘‘As discussed in section C.1. of this’’.
9. On page 26018, column 1, in the
preamble, under the paragraph heading
‘‘i. Acquisitions in Exchange for
Assets’’, fourth paragraph of the
column, sixth line, the language ‘‘and
(D) are satisfied. Such an’’ is corrected
to read ‘‘and (D) is satisfied. Such an’’.
10. On page 26019, column 3, in the
preamble, under the paragraph heading
‘‘c. Application of Section 355(b)(2)(C)
and (D) to Predecessors’’, second
paragraph of the column, third line, the
language ‘‘singly-entity for purposes of
section’’ is corrected to read ‘‘singleentity for purposes of section’’.
11. On page 26025, column 1, in the
preamble, under the paragraph heading
‘‘J. Additional Requests for Comments’’,
eleventh line of the column, the
language ‘‘sections D.1.b. and D.2.c of
this’’ is corrected to read ‘‘sections
D.1.b. and D.2.c. of this’’.
12. On page 26025, column 2, in the
preamble, under the paragraph heading
‘‘J. Additional Requests for Comments’’,
fourth line from the bottom of second
paragraph, the language ‘‘example,
§ 1.355–3(c) Example (9)’’ is corrected to
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05JNP1
31022
Federal Register / Vol. 72, No. 107 / Tuesday, June 5, 2007 / Proposed Rules
read ‘‘example, § 1.355–3(c) Example
9’’.
cprice-sewell on PROD1PC71 with PROPOSALS
§ 1.355–3
[Corrected]
13. On page 26026, column 2,
§ 1.355–3(b)(1)(i), lines eight and nine of
the paragraph, the language ‘‘355(b)(1).
Sections 355(b)(2)(A) and (b)(3)(A)
provide that a corporation is’’ is
corrected to read ‘‘355(b)(1). Section
355(b)(2)(A) and (b)(3)(A) provides that
a corporation is’’.
14. On page 26026, column 2,
§ 1.355–3(b)(1)(i), seventh line from the
bottom of the paragraph, the language
‘‘sections solely as a result of’’ is
corrected to read ‘‘section solely as a
result of’’.
15. On page 26028, column 1,
§ 1.355–3(b)(4)(i)(A), fourth line of the
paragraph, the language ‘‘Under sections
355(b)(2)(C) and (b)(3), a’’ is corrected to
read ‘‘Under section 355(b)(2)(C) and
(b)(3), a’’.
16. On page 26028, column 1,
§ 1.355–3(b)(4)(i)(A), last line of the
column, the language ‘‘by reasons of
such transactions’’ is corrected to read
‘‘by reason of such transactions’’.
17. On page 26030, column 2,
§ 1.355–3(d)(1)(iv), third line, the
language ‘‘within the meeting of section
368(c).’’ is corrected to read ‘‘within the
meaning of section 368(c).’’.
18. On page 26031, column 3,
§ 1.355–3(d)(2) Example 9.(iii), fourth
line from the bottom of paragraph, the
language ‘‘is engaged the active conduct
of ATB2.’’ is corrected to read ‘‘is
engaged in the active conduct of
ATB2.’’.
19. On page 26033, column 2,
§ 1.355–3(d)(2) Example 24., lines six
through twelve, the language
‘‘Partnership, each of X, Y, and Z satisfy
the requirements of paragraph
(b)(2)(v)(B) of this section. Accordingly,
each of X, Y, and Z are attributed the
trade or business assets and activities of
Partnership, satisfy the requirements of
paragraph (b)(2)(i) of this section, and
are engaged in the active’’ is corrected
to read ‘‘Partnership, each of X, Y, and
Z satisfies the requirements of
paragraph (b)(2)(v)(B) of this section.
Accordingly, each of X, Y, and Z is
attributed the trade or business assets
and activities of Partnership, satisfies
the requirements of paragraph (b)(2)(i)
of this section, and is engaged in the
active’’.
20. On page 26034, column 1,
§ 1.355–3(d)(2) Example 27., sixth line
from the bottom of paragraph, the
language ‘‘recognized. Accordingly, if
the D were to’’ is corrected to read
‘‘recognized. Accordingly, if D were to’’.
21. On page 26034, column 1,
§ 1.355–3(d)(2) Example 29., seventh
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15:43 Jun 04, 2007
Jkt 211001
line, the language ‘‘under section 357(c)
gain on the transfer of’’ is corrected to
read ‘‘under section 357(c) on the
transfer of’’.
22. On page 26034, column 2,
§ 1.355–3(d)(2) Example 32., sixth line
from the bottom of paragraph, the
language ‘‘neither ATB1 nor control of
C were acquired’’ is corrected to read
‘‘neither ATB1 nor control of C was
acquired’’.
23. On page 26034, column 3,
§ 1.355–3(d)(2) Example 35., second line
from the bottom of paragraph, the
language ‘‘distribution, it can rely on
ATB1 to satisfy’’ is corrected to read
‘‘distribution, it could rely on ATB1 to
satisfy’’.
24. On page 26034, column 3,
§ 1.355–3(d)(2) Example 36., second
line, the language ‘‘reorganization and
distributions. For more’’ is corrected to
read ‘‘reorganization and distribution.
For more’’.
25. On page 26035, column 2,
§ 1.355–3(d)(2) Example 39., fifth line
from the bottom of paragraph, the
language ‘‘The result would also be the
same if prior to’’ is corrected to read
‘‘The result would be the same if prior
to’’.
26. On page 26035, column 2,
§ 1.355–3(d)(2) Example 40., fourth line
from the bottom of paragraph, the
language ‘‘The result would be the same
if P acquired’’ is corrected to read ‘‘The
results would be the same if P
acquired’’.
27. On page 26035, column 3,
§ 1.355–3(d)(2) Example 42., third line
of the column, the language ‘‘distributes
all the C stock, C could not rely’’ is
corrected to read ‘‘distributes all the C
stock, C cannot rely’’.
28. On page 26036, column 3,
§ 1.355–3(d)(2) Example 50., fifteenth
line from the bottom of paragraph, the
language ‘‘if X, instead if S, merged into
D, S would’’ is corrected to read ‘‘if X,
instead of S, merged into D, S would’’.
LaNita Van Dyke,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel (Procedure and Administration).
[FR Doc. E7–10799 Filed 6–4–07; 8:45 am]
BILLING CODE 4830–01–P
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ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 745
[EPA–HQ–OPPT–2005–0049; FRL–8132–7]
RIN 2070–AC83
Lead; Renovation, Repair, and Painting
Program
Environmental Protection
Agency (EPA).
ACTION: Supplemental Notice of
Proposed Rulemaking.
AGENCY:
SUMMARY: On January 10, 2006, EPA
proposed new requirements under the
authority of section 402(c)(3) of the
Toxic Substances Control Act (TSCA) to
reduce exposure to lead hazards created
by renovation, repair, and painting
activities that disturb lead-based paint
in target housing. ‘‘Target housing’’ is
defined in TSCA section 401 as any
housing constructed before 1978, except
housing for the elderly or persons with
disabilities (unless any child under age
6 resides or is expected to reside in such
housing) or any 0-bedroom dwelling.
The 2006 proposal would establish
requirements for training renovators and
dust sampling technicians; for certifying
renovators, dust sampling technicians,
and renovation firms; for accrediting
providers of renovation and dust
sampling technician training; for
renovation work practices; and for
recordkeeping. That proposal would
also allow interested States, Territories,
and Indian Tribes the opportunity to
apply for and receive authorization to
administer and enforce all of the
elements of the new renovation
requirements. This supplemental notice
contains EPA’s proposal to add childoccupied facilities to the buildings
covered by the 2006 proposal. Childoccupied facilities may be located in
public or commercial buildings or in
target housing. A child-occupied facility
would be defined as a building, or a
portion of a building, constructed prior
to 1978, visited regularly by the same
child, under 6 years of age, on at least
two different days within any week
(Sunday through Saturday period),
provided that each day’s visit lasts at
least 3 hours and the combined weekly
visits last at least 6 hours, and the
combined annual visits last at least 60
hours.
DATES: Comments must be received on
or before July 5, 2007.
ADDRESSES: Submit your comments,
identified by docket identification (ID)
number EPA–HQ–OPPT–2005–0049, by
one of the following methods:
E:\FR\FM\05JNP1.SGM
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]]>Agencies
[Federal Register Volume 72, Number 107 (Tuesday, June 5, 2007)]
[Proposed Rules]
[Pages 31021-31022]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-10799]
=======================================================================
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-123365-03]
RIN 1545-BC94
Guidance Regarding the Active Trade or Business Requirement Under
Section 355(b); Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correction to notice of proposed rulemaking.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to a notice of proposed
rulemaking (REG-123365-03) that was published in the Federal Register
on Tuesday, May 8, 2007 (72 FR 26012) providing guidance on issues
involving the active trade or business requirement under section
355(b), including guidance resulting from the enactment of section
355(b)(3).
FOR FURTHER INFORMATION CONTACT: Russell P. Subin, (202) 622-7790 (not
a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The correction notice that is the subject of this document is under
section 355(b) of the Internal Revenue Code.
Need for Correction
As published, the notice of proposed rulemaking (REG-123365-03)
contains errors that may prove to be misleading and are in need of
clarification.
Correction of Publication
Accordingly, the publication of proposed rulemaking (REG-123365-
03), which was the subject of FR Doc. 07-2269, is corrected as follows:
1. On page 26014, column 2, in the preamble, under the paragraph
heading ``1. SAG Rule Applicable During the Pre-Distribution Period'',
second paragraph of the column, fourth line, the language ``members are
disregarded and all assets'' is corrected to read ``members is
disregarded and all assets''.
2. On page 26014, column 2, in the preamble, under the paragraph
heading ``1. SAG Rule Applicable During the Pre-Distribution Period'',
second paragraph of the column, eleventh line, the language ``a five-
year active trade or businesses.'' is corrected to read ``a five-year
active trade or business.''.
3. On page 26015, column 1, in the preamble, under the paragraph
heading ``3. Acquisitions of Stock in Subsidiary SAG Members'', fifth
line of the column, the language ``in sections B.4 and C.3.a.ii. of
this'' is corrected to read ``in sections B.4. and C.3.a.ii. of this''.
4. On page 26015, column 1, in the preamble, under the paragraph
heading ``C. Acquisitions of a Trade or Business'', second line of the
paragraph, the language ``provide that a trade or business'' is
corrected to read ``provides that a trade or business''.
5. On page 26015, column 3, in the preamble, under the paragraph
heading ``1. Purpose of Section 355(b)(2)(C) and (D)'', second
paragraph of the column, fourth line, the language ``using it assets--
instead of its stock, or'' is corrected to read ``using its assets--
instead of its stock, or''.
6. On page 26016, column 2, in the preamble, under the paragraph
heading ``i. Certain Acquisitions by the DSAG or CSAG'', last line of
the first paragraph, the language ``assets to acquire the trade or
business'' is corrected to read ``assets to acquire the trade or
business.''.
7. On page 26016, column 3, in the preamble, under the paragraph
heading ``ii. Certain Acquisitions by a Distributee Corporation'',
tenth line of the paragraph, the language ``section A.1 of this
preamble, section'' is corrected to read ``section A.1. of this
preamble, section''.
8. On page 26017, column 2, in the preamble, under the paragraph
heading ``i. Acquisitions in Exchange for Assets'', third paragraph of
the column, first line, the language ``As discussed in section C.1 of
this'' is corrected to read ``As discussed in section C.1. of this''.
9. On page 26018, column 1, in the preamble, under the paragraph
heading ``i. Acquisitions in Exchange for Assets'', fourth paragraph of
the column, sixth line, the language ``and (D) are satisfied. Such an''
is corrected to read ``and (D) is satisfied. Such an''.
10. On page 26019, column 3, in the preamble, under the paragraph
heading ``c. Application of Section 355(b)(2)(C) and (D) to
Predecessors'', second paragraph of the column, third line, the
language ``singly-entity for purposes of section'' is corrected to read
``single-entity for purposes of section''.
11. On page 26025, column 1, in the preamble, under the paragraph
heading ``J. Additional Requests for Comments'', eleventh line of the
column, the language ``sections D.1.b. and D.2.c of this'' is corrected
to read ``sections D.1.b. and D.2.c. of this''.
12. On page 26025, column 2, in the preamble, under the paragraph
heading ``J. Additional Requests for Comments'', fourth line from the
bottom of second paragraph, the language ``example, Sec. 1.355-3(c)
Example (9)'' is corrected to
[[Page 31022]]
read ``example, Sec. 1.355-3(c) Example 9''.
Sec. 1.355-3 [Corrected]
13. On page 26026, column 2, Sec. 1.355-3(b)(1)(i), lines eight
and nine of the paragraph, the language ``355(b)(1). Sections
355(b)(2)(A) and (b)(3)(A) provide that a corporation is'' is corrected
to read ``355(b)(1). Section 355(b)(2)(A) and (b)(3)(A) provides that a
corporation is''.
14. On page 26026, column 2, Sec. 1.355-3(b)(1)(i), seventh line
from the bottom of the paragraph, the language ``sections solely as a
result of'' is corrected to read ``section solely as a result of''.
15. On page 26028, column 1, Sec. 1.355-3(b)(4)(i)(A), fourth line
of the paragraph, the language ``Under sections 355(b)(2)(C) and
(b)(3), a'' is corrected to read ``Under section 355(b)(2)(C) and
(b)(3), a''.
16. On page 26028, column 1, Sec. 1.355-3(b)(4)(i)(A), last line
of the column, the language ``by reasons of such transactions'' is
corrected to read ``by reason of such transactions''.
17. On page 26030, column 2, Sec. 1.355-3(d)(1)(iv), third line,
the language ``within the meeting of section 368(c).'' is corrected to
read ``within the meaning of section 368(c).''.
18. On page 26031, column 3, Sec. 1.355-3(d)(2) Example 9.(iii),
fourth line from the bottom of paragraph, the language ``is engaged the
active conduct of ATB2.'' is corrected to read ``is engaged in the
active conduct of ATB2.''.
19. On page 26033, column 2, Sec. 1.355-3(d)(2) Example 24., lines
six through twelve, the language ``Partnership, each of X, Y, and Z
satisfy the requirements of paragraph (b)(2)(v)(B) of this section.
Accordingly, each of X, Y, and Z are attributed the trade or business
assets and activities of Partnership, satisfy the requirements of
paragraph (b)(2)(i) of this section, and are engaged in the active'' is
corrected to read ``Partnership, each of X, Y, and Z satisfies the
requirements of paragraph (b)(2)(v)(B) of this section. Accordingly,
each of X, Y, and Z is attributed the trade or business assets and
activities of Partnership, satisfies the requirements of paragraph
(b)(2)(i) of this section, and is engaged in the active''.
20. On page 26034, column 1, Sec. 1.355-3(d)(2) Example 27., sixth
line from the bottom of paragraph, the language ``recognized.
Accordingly, if the D were to'' is corrected to read ``recognized.
Accordingly, if D were to''.
21. On page 26034, column 1, Sec. 1.355-3(d)(2) Example 29.,
seventh line, the language ``under section 357(c) gain on the transfer
of'' is corrected to read ``under section 357(c) on the transfer of''.
22. On page 26034, column 2, Sec. 1.355-3(d)(2) Example 32., sixth
line from the bottom of paragraph, the language ``neither ATB1 nor
control of C were acquired'' is corrected to read ``neither ATB1 nor
control of C was acquired''.
23. On page 26034, column 3, Sec. 1.355-3(d)(2) Example 35.,
second line from the bottom of paragraph, the language ``distribution,
it can rely on ATB1 to satisfy'' is corrected to read ``distribution,
it could rely on ATB1 to satisfy''.
24. On page 26034, column 3, Sec. 1.355-3(d)(2) Example 36.,
second line, the language ``reorganization and distributions. For
more'' is corrected to read ``reorganization and distribution. For
more''.
25. On page 26035, column 2, Sec. 1.355-3(d)(2) Example 39., fifth
line from the bottom of paragraph, the language ``The result would also
be the same if prior to'' is corrected to read ``The result would be
the same if prior to''.
26. On page 26035, column 2, Sec. 1.355-3(d)(2) Example 40.,
fourth line from the bottom of paragraph, the language ``The result
would be the same if P acquired'' is corrected to read ``The results
would be the same if P acquired''.
27. On page 26035, column 3, Sec. 1.355-3(d)(2) Example 42., third
line of the column, the language ``distributes all the C stock, C could
not rely'' is corrected to read ``distributes all the C stock, C cannot
rely''.
28. On page 26036, column 3, Sec. 1.355-3(d)(2) Example 50.,
fifteenth line from the bottom of paragraph, the language ``if X,
instead if S, merged into D, S would'' is corrected to read ``if X,
instead of S, merged into D, S would''.
LaNita Van Dyke,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel (Procedure and Administration).
[FR Doc. E7-10799 Filed 6-4-07; 8:45 am]
BILLING CODE 4830-01-P
