October 15, 2009 – Federal Register Recent Federal Regulation Documents

DoD is making technical amendments to the Defense Federal Acquisition Regulation Supplement (DFARS) to specify the debarring and suspending official for the Defense Intelligence Agency and update other references within the DFARS text.

The Coast Guard is removing the existing drawbridge operation regulation for the Jordan (S337) Bridge, at AIWW mile 2.8, across the Elizabeth River (Southern Branch) in Chesapeake, VA, because the vertical-lift span has been removed.

On January 27, 2009, HUD issued a final rule that revised the regulations for HUD's public and assisted housing programs to require the use of HUD's Enterprise Income Verification system by public housing agencies and multifamily housing owners and management agents when verifying the employment and income of program participants. Consistent with Administration policy to review rules issued during the transition from one Administration to another, HUD re-opened the January 27, 2009, final rule for public comment, and specifically solicited public comment on extending the effective date of the rule. While HUD remains committed to full implementation of the Enterprise Income Verification system, the public comments submitted on the January 27, 2009, final rule highlighted for HUD certain regulatory provisions that require further clarification, and ones that were extraneous to the purpose of the rule, which is full implementation of the Enterprise Income Verification system.

This document proposes to amend title 19 of the Code of Federal Regulations to preclude situations where imported merchandise subject to Federal excise tax is allowed into the United States, in effect, 99 percent free of that tax through application of a drawback claim. Specifically, the proposed amendments would preclude the filing of a substitution drawback claim for internal revenue excise tax paid on imported merchandise in situations where no excise tax was paid upon the substituted merchandise or where the substituted merchandise is the subject of a different claim for refund or drawback of tax under any provision of the Internal Revenue Code. This document also proposes to amend title 19 by adding a basic importation and entry bond condition to foster compliance with the amended drawback provision. These proposed amendments are necessary to protect the revenue by clarifying the relationship between drawback claims and Federal excise tax liability.

The Department of Energy (DOE) today publishes a final rule establishing the procedures and standards for reverse auctions of production incentives for cellulosic biofuels pursuant to section 942 of the Energy Policy Act of 2005 (EPAct 2005).

The Coast Guard is extending the periods for public comment on the notice of proposed rulemaking (NPRM) and the Draft Programmatic Environmental Impact Statement (DPEIS) for the rulemaking entitled ``Standards for Living Organisms in Ships' Ballast Water'' (Docket No. USCG-2001-10486).

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 November 2009. Interest assumptions are also published on PBGC's Web site (https://www.pbgc.gov).

Section 205 of the Credit CARD Act of 2009 requires the Federal Trade Commission (``FTC'' or ``Commission'') to issue a rule by February 22, 2010, to prevent deceptive marketing of ``free credit reports.''To that end, the Commission proposes, and seeks comment on, amendments to the Commission's Free Annual File Disclosures Rule, 16 CFR Part 610. The proposed amendments would require certain advertisements for ``free credit reports'' to include prominent disclosures designed to prevent consumers from confusing these ``free'' offers with the federally mandated free annual file disclosures available through the single centralized source. In addition, the Commission proposes amendments to delay advertisements for products and services through the centralized source until after the consumer receives his or her free annual file disclosure, and to prohibit other practices that may interfere with the free file disclosure process. Finally, the Commission proposes certain technical amendments to the Rule.

EPA is proposing to approve a request submitted by the Indiana Department of Environmental Management (IDEM) on January 12, 2009, for a State Implementation Plan (SIP) revision of the carbon monoxide (CO) ``Limited Maintenance Plan'' update for Lake and Marion Counties, Indiana. These Limited Maintenance Plans demonstrate continued attainment of the CO National Ambient Air Quality Standard for Lake and Marion counties for an additional ten years.

The Indiana Department of Environmental Management (IDEM) submitted Carbon Monoxide (CO) ``Limited Maintenance Plan'' updates for Lake and Marion Counties on January 12, 2009. These Limited Maintenance Plans demonstrate continued attainment of the CO National Ambient Air Quality Standard (NAAQS) for Lake and Marion counties for an additional ten years. EPA is, therefore, approving it into Indiana's State Implementation Plan (SIP).

The Surface Transportation Board (Board or STB) amends its regulations by eliminating the Secretary of the Board, reassigning the delegations of authority from the Secretary to other Offices of the Board, and making additional updates to eliminate incorrect or obsolete references. Because these administrative final rules amend internal agency practice and procedure, this action is exempt from the usual requirement for notice and an opportunity for public comment under 5 U.S.C. 553(b)(A) of the Administrative Procedure Act.

The Board of Governors (Board) is amending the routing number guide to next-day availability checks and local checks in Regulation CC to delete the reference to the head office of the Federal Reserve Bank of Dallas and to reassign the Federal Reserve routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Cleveland. The Board is also amending the routing number guide to delete the reference to the Los Angeles branch office of the Federal Reserve Bank of San Francisco and to reassign the routing symbols currently listed under that office to the head office of the Federal Reserve Bank of Cleveland. These amendments reflect the restructuring of check-processing operations within the Federal Reserve System. The Board is also providing advance notice about anticipated future amendments in connection with the Reserve Banks' restructuring such that by early next year there will only be a single check-processing region for purposes of Regulation CC. Accordingly, at that time there will no longer be any checks that would be considered nonlocal.

We are proposing amendments to our rules to require disclosure of information regarding credit ratings used by registrants, including closed-end management investment companies, in connection with a registered offering of securities so that investors will better understand the credit rating and its limitations. The amendments we are proposing today also would require additional disclosure that would inform investors about potential conflicts of interest that could affect the credit rating. In addition, we are proposing amendments to require disclosure of preliminary credit ratings in certain circumstances so that investors have enhanced information about the credit ratings process that may bear on the quality or reliability of the rating. The proposed amendments would be applicable to registration statements filed under the Securities Act of 1933, the Securities Exchange Act of 1934 and the Investment Company Act of 1940, and Forms 8-K and 20-F.

This document contains final regulations providing guidance regarding the determination of the value of plan assets and benefit liabilities for purposes of the funding requirements that apply to single employer defined benefit plans, regarding the use of certain funding balances maintained for those plans, and regarding benefit restrictions for certain underfunded defined benefit pension plans. These regulations reflect provisions added by the Pension Protection Act of 2006, as amended by the Worker, Retiree, and Employer Recovery Act of 2008. These regulations affect sponsors, administrators, participants, and beneficiaries of single employer defined benefit pension plans.