Certifications and Exemptions Under the International Regulations for Preventing Collisions at Sea, 1972, 35585-35587 [E8-14195]

Download as PDF 35585 Federal Register / Vol. 73, No. 122 / Tuesday, June 24, 2008 / Rules and Regulations ebenthall on PRODPC60 with RULES such trust. Such excise tax is treated as imposed by chapter 42 (other than subchapter E) and is reported and payable in accordance with the appropriate forms and instructions. Such excise tax shall be allocated to corpus and, therefore, is not deductible in determining taxable income distributed to a beneficiary. (See paragraph (d)(2) of this section.) The charitable remainder trust income that is unrelated business taxable income constitutes income of the trust for purposes of determining the character of the distribution made to the beneficiary. Income of the charitable remainder trust is allocated among the charitable remainder trust income categories in paragraph (d)(1) of this section without regard to whether any part of that income constitutes unrelated business taxable income under section 512. (2) Examples. The application of the rules in this paragraph (c) may be illustrated by the following examples: Example 1. For 2007, a charitable remainder annuity trust with a taxable year beginning on January 1, 2007, has $60,000 of ordinary income, including $10,000 of gross income from a partnership that constitutes unrelated business taxable income to the trust. The trust has no deductions that are directly connected with that income. For that same year, the trust has administration expenses (deductible in computing taxable income) of $16,000, resulting in net ordinary income of $44,000. The amount of unrelated business taxable income is computed by taking gross income from an unrelated trade or business and deducting expenses directly connected with carrying on the trade or business, both computed with modifications under section 512(b). Section 512(b)(12) provides a specific deduction of $1,000 in computing the amount of unrelated business taxable income. Under the facts presented in this example, there are no other modifications under section 512(b). The trust, therefore, has unrelated business taxable income of $9,000 ($10,000 minus the $1,000 deduction under section 512(b)(12)). Undistributed ordinary income from prior years is $12,000 and undistributed capital gains from prior years are $50,000. Under the terms of the trust agreement, the trust is required to pay an annuity of $100,000 for year 2007 to the noncharitable beneficiary. Because the trust has unrelated business taxable income of $9,000, the excise tax imposed under section 664(c) is equal to the amount of such unrelated business taxable income, $9,000. The character of the $100,000 distribution to the noncharitable beneficiary is as follows: $56,000 of ordinary income ($44,000 from current year plus $12,000 from prior years), and $44,000 of capital gains. The $9,000 excise tax is allocated to corpus, and does not reduce the amount in any of the categories of income under paragraph (d)(1) of this section. At the beginning of year 2008, the amount of undistributed capital gains is $6,000, and there is no undistributed ordinary income. VerDate Aug<31>2005 12:37 Jun 23, 2008 Jkt 214001 Example 2. During 2007, a charitable remainder annuity trust with a taxable year beginning on January 1, 2007, sells real estate generating gain of $40,000. Because the trust had obtained a loan to finance part of the purchase price of the asset, some of the income from the sale is treated as debtfinanced income under section 514 and thus constitutes unrelated business taxable income under section 512. The unrelated debt-financed income computed under section 514 is $30,000. Assuming the trust receives no other income in 2007, the trust will have unrelated business taxable income under section 512 of $29,000 ($30,000 minus the $1,000 deduction under section 512(b)(12)). Except for section 512(b)(12), no other exceptions or modifications under sections 512–514 apply when calculating unrelated business taxable income based on the facts presented in this example. Because the trust has unrelated business taxable income of $29,000, the excise tax imposed under section 664(c) is equal to the amount of such unrelated business taxable income, $29,000. The $29,000 excise tax is allocated to corpus, and does not reduce the amount in any of the categories of income under paragraph (d)(1) of this section. Regardless of how the trust’s income might be treated under sections 511–514, the entire $40,000 is capital gain for purposes of section 664 and is allocated accordingly to and within the second of the categories of income under paragraph (d)(1) of this section. (3) Effective/applicability date. This paragraph (c) is applicable for taxable years beginning after December 31, 2006. The rules that apply with respect to taxable years beginning before January 1, 2007, are contained in § 1.664–1(c) as in effect prior to June 24, 2008. (See 26 CFR part 1, § 1.664–1(c)(1) revised as of April 1, 2007.) (d) * * * (2) * * * All taxes imposed by chapter 42 of the Code (including without limitation taxes treated under section 664(c)(2) as imposed by chapter 42) and, for taxable years beginning prior to January 1, 2007, all taxes imposed by subtitle A of the Code for which the trust is liable because it has unrelated business taxable income, shall be allocated to corpus. * * * * * * * * PART 602—OMB CONTROL NUMBERS UNDER THE PAPERWORK REDUCTION ACT I Par. 3. The authority citation for part 602 continues to read as follows: Authority: 26 U.S.C. 7805. Par. 4. In § 602.101, paragraph (b) is amended by adding the following entry in numerical order to the table as follows: I § 602.101 OMB Control numbers. * * PO 00000 * Frm 00007 * Fmt 4700 * Sfmt 4700 (b) * * * CFR part of section where identified and described * * * * 1.664–1(c) ................................... * * * * Current OMB control No. * 1545–2101 * Linda E. Stiff, Deputy Commissioner for Services and Enforcement. Approved: June 18, 2008. Eric Solomon, Assistant Secretary of the Treasury (Tax Policy). [FR Doc. 08–1380 Filed 6–19–08; 1:29 pm] BILLING CODE 4830–01–P DEPARTMENT OF DEFENSE Department of the Navy 32 CFR Part 706 Certifications and Exemptions Under the International Regulations for Preventing Collisions at Sea, 1972 Department of the Navy, DoD. Final rule. AGENCY: ACTION: SUMMARY: The Department of the Navy is amending its certifications and exemptions under the International Regulations for Preventing Collisions at Sea, 1972 (72 COLREGS), to reflect that the Deputy Assistant Judge Advocate General (Admiralty and Maritime Law) has determined that USS STOCKDALE (DDG 106) is a vessel of the Navy which, due to its special construction and purpose, cannot fully comply with certain provisions of the 72 COLREGS without interfering with its special function as a naval ship. The intended effect of this rule is to warn mariners in waters where 72 COLREGS apply. DATES: This rule is effective June 24, 2008 and is applicable beginning 13 June 2008. FOR FURTHER INFORMATION CONTACT: Commander M. Robb Hyde, JAGC, U.S. Navy, Deputy Assistant Judge Advocate General (Admiralty and Maritime Law), Office of the Judge Advocate General, Department of the Navy, 1322 Patterson Ave., SE., Suite 3000, Washington Navy Yard, DC 20374–5066, telephone: 202– 685–5040. SUPPLEMENTARY INFORMATION: Pursuant to the authority granted in 33 U.S.C. 1605, the Department of the Navy E:\FR\FM\24JNR1.SGM 24JNR1 35586 Federal Register / Vol. 73, No. 122 / Tuesday, June 24, 2008 / Rules and Regulations amends 32 CFR part 706. This amendment provides notice that the Deputy Assistant Judge Advocate General (Admiralty and Maritime Law), under authority delegated by the Secretary of the Navy, has certified that USS STOCKDALE (DDG 106) is a vessel of the Navy which, due to its special construction and purpose, cannot fully comply with the following specific provisions of 72 COLREGS without interfering with its special function as a naval ship: Annex I, paragraph 2(f)(i), pertaining to the placement of the masthead light or lights above and clear of all other lights and obstructions; Annex I, paragraph 2(f)(ii), pertaining to the vertical placement of task lights; Annex I, paragraph 3(a), pertaining to the location of the forward masthead light in the forward quarter of the ship, and the horizontal distance between the forward and after masthead lights; and Annex I, paragraph 3(c), pertaining to placement of task lights not less than two meters from the fore and aft centerline of the ship in the athwartship direction. The Deputy Assistant Judge Advocate General (Admiralty and Maritime Law) has also certified that the lights involved are located in closest possible compliance with the applicable 72 COLREGS requirements. Moreover, it has been determined, in accordance with 32 CFR Parts 296 and 701, that publication of this amendment for public comment prior to adoption is impracticable, unnecessary, and contrary to public interest since it is based on technical findings that the placement of lights on this vessel in a manner differently from that prescribed herein will adversely affect the vessel’s ability to perform its military functions. List of Subjects in 32 CFR Part 706 Marine safety, Navigation (water), and Vessels. For the reasons set forth in the preamble, amend part 706 of title 32 of the Code of Federal Regulations as follows: I PART 706—CERTIFICATIONS AND EXEMPTIONS UNDER THE INTERNATIONAL REGULATIONS FOR PREVENTING COLLISIONS AT SEA, 1972 1. The authority citation for part 706 continues to read: I Authority: 33 U.S.C. 1605. 2. Table Four, Paragraph 15 of § 706.2 is amended by adding, in numerical order, the following entry for USS STOCKDALE (DDG 106): I § 706.2 Certifications of the Secretary of the Navy under Executive Order 11964 and 33 U.S.C. 1605. * * Number * * * USS STOCKDALE ....................................................... * * DDG 106 ...................................................................... * * 3. Table Four, Paragraph 16 of § 706.2 is amended by adding, in numerical I * * § 706.2 Certifications of the Secretary of the Navy under Executive Order 11964 and 33 U.S.C. 1605. order, the following entry for USS STOCKDALE (DDG 106): * * Number * * * USS STOCKDALE ....................................................... * * DDG 106 ...................................................................... * 4. Table Five of § 706.2 is amended by adding, in numerical order, the I * * * Obstruction angle relative ship’s headings (degrees) Vessel * * * 1.90 meters. * * * * Horizontal distance from the fore and aft centerline of the vessel in the athwartship direction Vessel * * * * 107.08 thru 112.50. * * § 706.2 Certifications of the Secretary of the Navy under Executive Order 11964 and 33 U.S.C. 1605. following entry for USS STOCKDALE (DDG 106): * * * * * TABLE FIVE Forward masthead light not in forward quarter of ship. Annex I, sec. 3(a) After masthead light less than 1⁄2 ship’s length aft of forward masthead light. Annex I, sec. 3(a) Percentage horizontal separation attained ebenthall on PRODPC60 with RULES Vessel No. Masthead lights not over all other lights and obstructions. Annex I, sec. 2(f) * * USS STOCKDALE ................................. * DDG 106 * X * X * X * 14.5 * * * * * * VerDate Aug<31>2005 * 12:37 Jun 23, 2008 Jkt 214001 PO 00000 Frm 00008 Fmt 4700 Sfmt 4700 E:\FR\FM\24JNR1.SGM 24JNR1 35587 Federal Register / Vol. 73, No. 122 / Tuesday, June 24, 2008 / Rules and Regulations Approved: June 13, 2008. M. Robb Hyde, Commander, JAGC, U.S. Navy, Deputy Assistant Judge Advocate General (Admiralty and Maritime Law). [FR Doc. E8–14195 Filed 6–23–08; 8:45 am] BILLING CODE 3810–FF–P Navy, Deputy Assistant Judge Advocate General (Admiralty and Maritime Law), Office of the Judge Advocate General, Department of the Navy, 1322 Patterson Ave., SE., Suite 3000, Washington Navy Yard, DC 20374–5066, telephone: 202– 685–5040. Pursuant to the authority granted in 33 U.S.C. 1605, the Department of the Navy amends 32 CFR part 706. This amendment provides notice that the Deputy Assistant Judge Advocate General (Admiralty and Maritime Law), under authority delegated by the Secretary of the Navy, has certified that USS TRUXTUN (DDG 103) is a vessel of the Navy which, due to its special construction and purpose, cannot fully comply with the following specific provisions of 72 COLREGS without interfering with its special function as a naval ship: Annex I, paragraph 2(f)(i), pertaining to the placement of the masthead light or lights above and clear of all other lights and obstructions; Annex I, paragraph 2(f)(ii), pertaining to the vertical placement of task lights; Annex I, paragraph 3(a), pertaining to the location of the forward masthead light in the forward quarter of the ship, and the horizontal distance between the forward and after masthead lights; and Annex I, paragraph 3(c), pertaining to placement of task lights not less than two meters from the fore and aft centerline of the ship in the athwartship direction. The Deputy Assistant Judge Advocate General (Admiralty and Maritime Law) has also certified that the lights involved are located in closest SUPPLEMENTARY INFORMATION: DEPARTMENT OF DEFENSE Department of the Navy 32 CFR Part 706 Certifications and Exemptions Under the International Regulations for Preventing Collisions at Sea, 1972 Department of the Navy, DoD. Final rule. AGENCY: ACTION: SUMMARY: The Department of the Navy is amending its certifications and exemptions under the International Regulations for Preventing Collisions at Sea, 1972 (72 COLREGS), to reflect that the Deputy Assistant Judge Advocate General (Admiralty and Maritime Law) has determined that USS TRUXTUN (DDG 103) is a vessel of the Navy which, due to its special construction and purpose, cannot fully comply with certain provisions of the 72 COLREGS without interfering with its special function as a naval ship. The intended effect of this rule is to warn mariners in waters where 72 COLREGS apply. DATES: This rule is effective June 24, 2008 and is applicable beginning 13 June 2008. FOR FURTHER INFORMATION CONTACT: Commander M. Robb Hyde, JAGC, U.S. possible compliance with the applicable 72 COLREGS requirements. Moreover, it has been determined, in accordance with 32 CFR parts 296 and 701, that publication of this amendment for public comment prior to adoption is impracticable, unnecessary, and contrary to public interest since it is based on technical findings that the placement of lights on this vessel in a manner differently from that prescribed herein will adversely affect the vessel’s ability to perform its military functions. List of Subjects in 32 CFR Part 706 Marine safety, Navigation (water), and Vessels. For the reasons set forth in the preamble, amend part 706 of title 32 of the Code of Federal Regulations as follows: I PART 706—CERTIFICATIONS AND EXEMPTIONS UNDER THE INTERNATIONAL REGULATIONS FOR PREVENTING COLLISIONS AT SEA, 1972 1. The authority citation for part 706 continues to read: I Authority: 33 U.S.C. 1605. 2. Table Four, Paragraph 15 of § 706.2 is amended by adding, in numerical order, the following entry for USS TRUXTUN (DDG 103): I § 706.2 Certifications of the Secretary of the Navy under Executive Order 11964 and 33 U.S.C. 1605. * * Number * * * USS TRUXTUN ........................................................... * * DDG 103 ...................................................................... * * 3. Table Four, Paragraph 16 of § 706.2 is amended by adding, in numerical I * ebenthall on PRODPC60 with RULES * 1.86 meters. * * § 706.2 Certifications of the Secretary of the Navy under Executive Order 11964 and 33 U.S.C. 1605. order, the following entry for USS TRUXTUN (DDG 103): * * Number * * * USS TRUXTUN ........................................................... * * DDG 103 ...................................................................... VerDate Aug<31>2005 12:37 Jun 23, 2008 * Jkt 214001 PO 00000 * Frm 00009 Fmt 4700 * Sfmt 4700 * * Obstruction angle relative ship’s headings Vessel * * * * * * * Horizontal distance from the fore and aft centerline of the vessel in the athwartship direction Vessel * * E:\FR\FM\24JNR1.SGM * * 110.02 thru 112.50 [degrees]. * 24JNR1 *

Agencies

[Federal Register Volume 73, Number 122 (Tuesday, June 24, 2008)]
[Rules and Regulations]
[Pages 35585-35587]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-14195]


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DEPARTMENT OF DEFENSE

Department of the Navy

32 CFR Part 706


Certifications and Exemptions Under the International Regulations 
for Preventing Collisions at Sea, 1972

AGENCY: Department of the Navy, DoD.

ACTION: Final rule.

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

SUMMARY: The Department of the Navy is amending its certifications and 
exemptions under the International Regulations for Preventing 
Collisions at Sea, 1972 (72 COLREGS), to reflect that the Deputy 
Assistant Judge Advocate General (Admiralty and Maritime Law) has 
determined that USS STOCKDALE (DDG 106) is a vessel of the Navy which, 
due to its special construction and purpose, cannot fully comply with 
certain provisions of the 72 COLREGS without interfering with its 
special function as a naval ship. The intended effect of this rule is 
to warn mariners in waters where 72 COLREGS apply.

DATES: This rule is effective June 24, 2008 and is applicable beginning 
13 June 2008.

FOR FURTHER INFORMATION CONTACT: Commander M. Robb Hyde, JAGC, U.S. 
Navy, Deputy Assistant Judge Advocate General (Admiralty and Maritime 
Law), Office of the Judge Advocate General, Department of the Navy, 
1322 Patterson Ave., SE., Suite 3000, Washington Navy Yard, DC 20374-
5066, telephone: 202-685-5040.

SUPPLEMENTARY INFORMATION: Pursuant to the authority granted in 33 
U.S.C. 1605, the Department of the Navy

[[Page 35586]]

amends 32 CFR part 706. This amendment provides notice that the Deputy 
Assistant Judge Advocate General (Admiralty and Maritime Law), under 
authority delegated by the Secretary of the Navy, has certified that 
USS STOCKDALE (DDG 106) is a vessel of the Navy which, due to its 
special construction and purpose, cannot fully comply with the 
following specific provisions of 72 COLREGS without interfering with 
its special function as a naval ship: Annex I, paragraph 2(f)(i), 
pertaining to the placement of the masthead light or lights above and 
clear of all other lights and obstructions; Annex I, paragraph 
2(f)(ii), pertaining to the vertical placement of task lights; Annex I, 
paragraph 3(a), pertaining to the location of the forward masthead 
light in the forward quarter of the ship, and the horizontal distance 
between the forward and after masthead lights; and Annex I, paragraph 
3(c), pertaining to placement of task lights not less than two meters 
from the fore and aft centerline of the ship in the athwartship 
direction. The Deputy Assistant Judge Advocate General (Admiralty and 
Maritime Law) has also certified that the lights involved are located 
in closest possible compliance with the applicable 72 COLREGS 
requirements.
    Moreover, it has been determined, in accordance with 32 CFR Parts 
296 and 701, that publication of this amendment for public comment 
prior to adoption is impracticable, unnecessary, and contrary to public 
interest since it is based on technical findings that the placement of 
lights on this vessel in a manner differently from that prescribed 
herein will adversely affect the vessel's ability to perform its 
military functions.

List of Subjects in 32 CFR Part 706

    Marine safety, Navigation (water), and Vessels.

0
For the reasons set forth in the preamble, amend part 706 of title 32 
of the Code of Federal Regulations as follows:

PART 706--CERTIFICATIONS AND EXEMPTIONS UNDER THE INTERNATIONAL 
REGULATIONS FOR PREVENTING COLLISIONS AT SEA, 1972

0
1. The authority citation for part 706 continues to read:

    Authority: 33 U.S.C. 1605.


0
2. Table Four, Paragraph 15 of Sec.  706.2 is amended by adding, in 
numerical order, the following entry for USS STOCKDALE (DDG 106):


Sec.  706.2  Certifications of the Secretary of the Navy under 
Executive Order 11964 and 33 U.S.C. 1605.

* * * * *

----------------------------------------------------------------------------------------------------------------
                                                                    Horizontal distance from the fore and aft
                Vessel                          Number             centerline of the vessel in the athwartship
                                                                                    direction
----------------------------------------------------------------------------------------------------------------
 
                                                   * * * * * *
USS STOCKDALE........................  DDG 106................  1.90 meters.
 
                                                   * * * * * *
----------------------------------------------------------------------------------------------------------------


0
3. Table Four, Paragraph 16 of Sec.  706.2 is amended by adding, in 
numerical order, the following entry for USS STOCKDALE (DDG 106):


Sec.  706.2  Certifications of the Secretary of the Navy under 
Executive Order 11964 and 33 U.S.C. 1605.

* * * * *

----------------------------------------------------------------------------------------------------------------
                                                                   Obstruction angle relative ship's headings
                Vessel                          Number                              (degrees)
----------------------------------------------------------------------------------------------------------------
 
                                                   * * * * * *
USS STOCKDALE........................  DDG 106................  107.08 thru 112.50.
 
                                                  * * * * * * *
----------------------------------------------------------------------------------------------------------------


0
4. Table Five of Sec.  706.2 is amended by adding, in numerical order, 
the following entry for USS STOCKDALE (DDG 106):


Sec.  706.2  Certifications of the Secretary of the Navy under 
Executive Order 11964 and 33 U.S.C. 1605.

* * * * *

                                                                       Table Five
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                    After masthead
                                                                            Masthead lights    Forward  masthead  light less than \1/     Percentage
                                                                          not over all other     light not in      2\ ship's length       horizontal
                       Vessel                                 No.             lights and      forward quarter of    aft of forward        separation
                                                                             obstructions.      ship. Annex I,      masthead light.        attained
                                                                          Annex I, sec. 2(f)       sec. 3(a)      Annex I, sec. 3(a)
--------------------------------------------------------------------------------------------------------------------------------------------------------
 
                                                                      * * * * * * *
USS STOCKDALE.......................................            DDG 106                   X                   X                   X                14.5
 
                                                                      * * * * * * *
--------------------------------------------------------------------------------------------------------------------------------------------------------



[[Page 35587]]

    Approved: June 13, 2008.
M. Robb Hyde,
Commander, JAGC, U.S. Navy, Deputy Assistant Judge Advocate General 
(Admiralty and Maritime Law).
[FR Doc. E8-14195 Filed 6-23-08; 8:45 am]
BILLING CODE 3810-FF-P