February 13, 2009 – Federal Register Recent Federal Regulation Documents

In a separate document in the ``Rules'' section of this Federal Register, the Environmental Protection Agency (EPA) announced the convening of a proceeding for reconsideration of the final rule that amends the Prevention of Significant Deterioration (PSD) and Nonattainment New Source Review (NSR) regulations addressing aggregation published in the Federal Register on January 15, 2009. By this action, the EPA is administratively staying and delaying the effective date of this rule for 90 days. Thus, the January 15, 2009 rule will become effective on May 18, 2009.

On January 30, 2009, the Natural Resources Defense Council (``NRDC'') submitted a petition for reconsideration (the ``NRDC Petition'') of the rule addressing ``aggregation'' under the Prevention of Significant Deterioration and the Nonattainment New Source Review programs (collectively, ``NSR'') published in the Federal Register on January 15, 2009. This rule (the ``NSR Aggregation Amendments'') described when a source must combine (``aggregate'') nominally-separate physical changes and changes in the method of operation for the purpose of determining whether they are a single change under NSR and result in a significant emissions increase. In response to the NRDC Petition, having found that the petitioner has raised objections to the rule that arose after the comment period and that are of central relevance to the rule, the EPA is convening a proceeding for reconsideration as provided for under the Clean Air Act section 307(d)(7)(B). In the near future, EPA will publish a notice in the Federal Register establishing a comment period and a hearing date for this proceeding.

Pension Benefit Guaranty Corporation's regulation on Benefits Payable in Terminated Single-Employer Plans prescribes interest assumptions for valuing and paying certain benefits under terminating single-employer plans. This final rule amends the benefit payments regulation to adopt interest assumptions for plans with valuation dates in March 2009. Interest assumptions are also published on PBGC's Web site (https://www.pbgc.gov).

The Coast Guard is establishing a safety zone around the Perdido Regional Host (PRH), a high-production, manned oil and natural gas platform. The platform needs to be protected from vessels operating outside the normal shipping channels and fairways. Placing a safety zone around the platform will significantly reduce the threat of allisions, oil spills, and releases of natural gas, and thereby protect the safety of life, property, and the environment.

We propose to adopt a new airworthiness directive (AD) for the products listed above. This proposed AD results from mandatory continuing airworthiness information (MCAI) originated by an aviation authority of another country to identify and correct an unsafe condition on an aviation product. The MCAI describes the unsafe condition as:

We propose to adopt a new airworthiness directive (AD) for the products listed above. This proposed AD results from mandatory continuing airworthiness information (MCAI) originated by an aviation authority of another country to identify and correct an unsafe condition on an aviation product. The MCAI describes the unsafe condition as:

This document seeks public comment on a proposal to delay for 104 days the effective date of the interim rule, for Rural Development Guaranteed Loans, which was published on December 17, 2008. The interim rule establishes a unified guaranteed loan platform for the enhanced delivery of four existing Rural Development guaranteed loan programs Community Facility; Water and Waste Disposal; Business and Industry; and Rural Energy for America Program, formerly known as Renewable Energy Systems and Energy Efficiency Improvement Projects. The Department seeks comments on whether or not it should delay the effective date of the interim rule until June 1, 2009, in order to provide the Agency sufficient time to implement certain administrative aspects associated with the interim rule. For that reason, the Department is seeking comments on the merits of extending the effective date of the interim rule to June 1, 2009. In order to allow sufficient time for public comment on the Agency's proposal to further extend the effective date until June 1, 2009, this document extends the current effective date from February 17, 2009, to March 9, 2009, pursuant to the ``good cause'' clause under the Administrative Procedures Act (5 U.S.C. 553(b)(3)(B)).

This document contains proposed regulations under section 6231 of the Internal Revenue Code that allow the IRS to convert partnership items to nonpartnership items when the application of the unified partnership audit and litigation procedures of sections 6221 through 6234 (TEFRA partnership procedures) with respect to certain tax avoidance transactions interferes with the effective and efficient enforcement of the internal revenue laws. The regulations affect taxpayers who have engaged in a listed transaction through an entity subject to the TEFRA partnership procedures. This document also provides notice of a public hearing on these proposed regulations.