2008 – Federal Register Recent Federal Regulation Documents

This final rule upgrades the school bus passenger crash protection requirements of Federal Motor Vehicle Safety Standard (FMVSS) No. 222. This final rule requires new school buses of 4,536 kilograms (10,000 pounds) or less gross vehicle weight rating (GVWR) (``small school buses'') to have lap/shoulder belts in lieu of the lap belts currently required. This final rule also sets performance standards for seat belts voluntarily installed on school buses with a GVWR greater than 4,536 kilograms (10,000 pounds) (``large school buses''). Each State or local jurisdiction may decide whether to install seat belts on these large school buses. Other changes to school bus safety requirements include raising the height of seat backs from 508 mm (20 inches) to 610 mm (24 inches) on all new school buses and requiring a self-latching mechanism on seat bottom cushions that are designed to flip up or be removable without tools.

We, the U.S. Fish and Wildlife Service (Service), designate revised critical habitat for the wintering population of the piping plover (Charadrius melodus) in North Carolina under the Endangered Species Act of 1973, as amended (Act). In total, approximately 2,043 acres (ac) (827 hectares (ha)), in Dare and Hyde Counties, North Carolina, fall within the boundaries of the revised critical habitat designation.

This document contains final regulations relating to the treatment of open account debt between S corporations and their shareholders. These final regulations provide rules regarding the definition of open account debt and the adjustments in basis of any indebtedness of an S corporation to a shareholder under section 1367(b)(2) of the Internal Revenue Code (Code) for shareholder advances and repayments on advances of open account debt. The regulations affect shareholders of S corporations and are necessary to provide guidance needed to comply with the applicable tax law.

NMFS proposes to revise pollock trip limit regulations to prohibit a catcher vessel from landing more than 300,000 lb (136 mt) of unprocessed pollock during a calendar day. NMFS also proposes to prohibit a catcher vessel from landing a cumulative amount of unprocessed pollock from any Gulf of Alaska (GOA) reporting area that exceeds 300,000 lb multiplied by the number of calendar days the pollock fishery is open to directed fishing in a season. The objective of this proposed rule is to prevent catcher vessels from circumventing the intent of current trip limit regulations when making deliveries of pollock. Amending the current trip limit regulation to limit legal opportunities for a vessel to exceed 300,000 lb of pollock caught in a day, would continue to disperse catches of pollock in a manner that is consistent with the intent of Steller sea lion protection measures in the GOA.

This rule invites comments on a modification of the late payment and interest charge regulation prescribed under the Washington potato marketing order. The marketing order regulates the handling of Irish potatoes grown in Washington, and is administered locally by the State of Washington Potato Committee (Committee). This rule would revise the date interest is charged on late assessment payments from 30 to 60 days from the billing date shown on the handler's assessment statement received from the Committee. This rule would contribute to the efficient operation of the marketing order by reducing billing for nominal late payment interest charges on handlers who pay within 60 days of the billing date, while continuing those interest charges necessary to encourage payment, thereby ensuring that adequate funds are available to cover the Committee's authorized expenses.

The Commission requests comments on a channel substitution proposed by Local TV Alabama License, LLC (``Local TV''), the licensee of station WHNT-DT, DTV channel 19, Huntsville, Alabama. Local TV requests the substitution of DTV channel 46 for channel 19 at Huntsville.

The Nuclear Regulatory Commission (NRC) is denying a petition for rulemaking submitted by Mr. Thomas E. Magette on behalf of EnergySolutions, LLC. The petitioner requested that the NRC's regulations governing domestic licensing of production and utilization facilities be amended to provide a regulatory framework that would allow funds from licensees' decommissioning trust funds to be used for the cost of disposal of ``major radioactive components'' (MRCs) that have been removed from reactors before the permanent cessation of operations.

The Department of Homeland Security (DHS) is giving concurrent notice of a revised and updated system of records pursuant to the Privacy Act of 1974 for the Department of Homeland Security Grievances, Appeals, and Disciplinary Action system of records and this proposed rulemaking. In this proposed rulemaking, the Department proposes to exempt portions of the system of records from one or more provisions of the Privacy Act because of criminal, civil, and administrative enforcement requirements.

This interim rule, promulgated pursuant to sections 101(a)(1), 101(c)(5), and 111(b) of the Emergency Economic Stabilization Act of 2008, Division A of Public Law 110-343 (EESA), provides guidance on the executive compensation provisions applicable to participants in the Troubled Assets Relief Program (TARP) Capital Purchase Program (CPP). Section 111(b) of EESA requires financial institutions from which the Department of the Treasury (Treasury) is purchasing troubled assets through direct purchases to meet appropriate standards for executive compensation and corporate governance. This interim final rule includes the following standards for purposes of the CPP: (a) Limits on compensation that exclude incentives for senior executive officers (SEOs) of financial institutions to take unnecessary and excessive risks that threaten the value of the financial institution; (b) required recovery of any bonus or incentive compensation paid to a SEO based on statements of earnings, gains, or other criteria that are later proven to be materially inaccurate; (c) prohibition on the financial institution from making any golden parachute payment to any SEO; and (d) agreement to limit a claim to a federal income tax deduction for certain executive remuneration. These rules generally affect financial institutions that participate in the CPP, certain employers related to those financial institutions, and their officers.

The U.S. Consumer Product Safety Commission published in the Federal Register of March 25, 2008, a final rule amending its flammability standard for general wearing apparel, the Standard for the Flammability of Clothing Textiles, 16 CFR Part 1610. The published rule contained some incorrect typographical symbols and other inadvertent errors. This document corrects those symbols and errors.

This document contains corrections to final regulations (TD 9424) that were published in the Federal Register on Wednesday, September 17, 2008 (73 FR 53934) under sections 358, 362(e)(2), and 1502 of the Internal Revenue Code. The final regulations apply to corporations filing consolidated returns, and corporations that enter into certain tax-free reorganizations. The final regulations provide rules for determining the tax consequences of a member's transfer (including by deconsolidation and worthlessness) of loss shares of subsidiary stock. In addition, the final regulations provide that section 362(e)(2) generally does not apply to transactions between members of a consolidated group. Finally, the final regulations conform or clarify various provisions of the consolidated return regulations, including those relating to adjustments to subsidiary stock basis.

On September 18, 2008, the Commission issued an order proposing to clarify that the facilities within a nuclear generation plant in the United States that are not regulated by the U.S. Nuclear Regulatory Commission are subject to compliance with the eight mandatory ``CIP'' Reliability Standards approved in Commission Order No. 706. The date for filing comments on the Commission's proposal is being extended at the request of the Edison Electric Institute and the Nuclear Energy Institute.

DoD is proposing to amend the Defense Federal Acquisition Regulation Supplement (DFARS) to address requirements for ensuring the accuracy of contractor information in the Central Contractor Registration (CCR) database and in contract documents. Additionally, the proposed rule clarifies requirements for proper assignment of procurement instrument identification numbers.

This rule adopts as final without change the Department's interim rule published on December 17, 2002, at 67 FR 77158. The rule changes the requirements pertaining to the issuance of visas to certain health care workers. Certain foreign health care workers now need to present certificates establishing competency in a specific health care field. Certification is issued by the Commission on Graduates of Foreign Nursing Schools (CGFNS) or other credentialing organizations that have been approved by the Secretary of Homeland Security (DHS) in consultation with the Secretary of Health and Human Services (HHS). This rule facilitates greater uniformity between the regulations of DHS and the Department of State.

On May 3, 2007, EPA promulgated the final rule titled: National Air Emission Standards for Hazardous Air Pollutants: Halogenated Solvent Cleaning (the Halogenated Solvent Cleaning rule) pursuant to sections 112(d)(6) and 112(f) of the Clean Air Act. The Halogenated Solvent Cleaning rule set facility-wide emission limits for certain halogenated solvent cleaning machines and a May 3, 2010, compliance deadline. Following promulgation of the Halogenated Solvent Cleaning rule, the Administrator received several petitions for reconsideration, pursuant to Clean Air Act section 307(d)(7)(B). The purpose of this notice is to initiate a process for responding to certain issues raised in the petitions. We are requesting comment on the particular issues for which we are granting reconsideration, and those issues are identified, in detail, below. Specifically, we are requesting comment on the revised risk assessment, our use of the 2002 National Emissions Inventory data in lieu of the 1999 National Emissions Inventory data, which was used at proposal, our ample margin of safety determination under Clean Air Act section 112(f)(2), our determination under Clean Air Act section 112(d)(6), and the compliance deadline.

EPA is proposing to amend the Final Cross-Media Electronic Reporting Rule (CROMERR) deadline for authorized programs (states, tribes, or local governments) with existing electronic document receiving systems to submit an application for EPA approval to revise or modify their authorized programs. This action proposes to extend the current October 13, 2008, deadline until January 13, 2010. Additionally, in the ``Rules and Regulations'' section of this Federal Register, EPA is making this revision as a direct final rule without a prior proposed rule. If the Agency receives no relevant adverse comment, EPA will not take further action on this proposed rule.

The Securities and Exchange Commission (``Commission'') is adopting an interim final temporary rule under the Securities Exchange Act of 1934 (``Exchange Act'') to address abusive ``naked'' short selling in all equity securities by requiring that participants of a clearing agency registered with the Commission deliver securities by settlement date, or if the participants have not delivered shares by settlement date, immediately purchase or borrow securities to close out the fail to deliver position by no later than the beginning of regular trading hours on the settlement day following the day the participant incurred the fail to deliver position. Failure to comply with the close-out requirement of the temporary rule is a violation of the temporary rule. In addition, a participant that does not comply with this close-out requirement, and any broker-dealer from which it receives trades for clearance and settlement, will not be able to short sell the security either for itself or for the account of another, unless it has previously arranged to borrow or borrowed the security, until the fail to deliver position is closed out.

The ODNI is publishing this proposed regulation to invite public comment prior to final adoption of the regulation governing the procedures it will follow for the production of ODNI information or material in proceedings before federal, state, local or other government entity of competent jurisdiction.

The Securities and Exchange Commission (``Commission'') is adopting amendments to Regulation SHO under the Securities Exchange Act of 1934 (``Exchange Act''). The amendments are intended to further reduce the number of persistent fails to deliver in certain equity securities by eliminating the options market maker exception to the close-out requirement of Regulation SHO. As a result of the amendments, fails to deliver in threshold securities that result from hedging activities by options market makers will no longer be excepted from Regulation SHO's close-out requirement. The Commission is also providing guidance regarding bona fide market making activities for purposes of the market maker exception to Regulation SHO's locate requirement.

This action proposes to revoke the Class E airspace at Metlakatla, AK. The privately funded Special instrument approaches serving Metlakatla, AK have been removed. There is no longer a requirement for the controlled airspace. Adoption of this proposal would result in revoking the Class E airspace upward from 700 feet (ft.) above the surface at the Metlakatla Airport, Metlakatla, AK.

This action proposes to revise Class E airspace at Toksook Bay, AK. One Standard Instrument Approach Procedure (SIAP) is being amended for the Toksook Bay Airport at Toksook Bay, AK. Additionally, one textual Obstacle Departure Procedure (ODP) is being amended. Adoption of this proposal would result in revising Class E airspace upward from 700 feet (ft.) and 1,200 ft. above the surface at the Toksook Bay Airport, Toksook Bay, AK.

This document contains a minor correction to the final regulations that the Department of Veterans Affairs (VA) published in 71 FR 78368 on December 29, 2006. The regulation relates to the Payment of Benefits to Survivors of Estates of Deceased Beneficiaries. No substantive change to the content of the regulation is being made by correcting this amendment.

The Securities and Exchange Commission is reopening the period for public comment on new rules that it originally proposed in Securities Act Release No. 8933 (June 25, 2008) [73 FR 37752 (July 1, 2008)]. The Commission proposed a rule that would, if adopted, define the terms ``annuity contract'' and ``optional annuity contract'' under the Securities Act of 1933. The proposed rule is intended to clarify the status under the federal securities laws of indexed annuities. The Commission also proposed to exempt insurance companies from filing reports under the Securities Exchange Act of 1934 with respect to indexed annuities and other securities that are registered under the Securities Act, provided that the securities are regulated under state insurance law, the issuing insurance company and its financial condition are subject to supervision and examination by a state insurance regulator, and the securities are not publicly traded.

The Commission is adding several recently-negotiated Global Expedited Package Service contracts to the competitive product list. This action is consistent with changes in a recent law governing postal operations. Re-publication of the lists of market dominant and competitive products is also consistent with new requirements in the law.

This proposed rule would make changes to several sections of the regulations for the Community Development Block Grant (CDBG) program for states (State CDBG). This proposed rule would streamline and update the regulations to reflect statutory changes, clarify the program income requirements, provide other clarifications to the State CDBG regulations, and make a conforming change to the regulations applicable to the CDBG Entitlement program. This proposed rule would also provide states additional flexibility in their administration of the program.