Departmental Offices; Debt Management Advisory Committee Meeting, 39729-39730 [2010-16750]

Download as PDF erowe on DSK5CLS3C1PROD with NOTICES Federal Register / Vol. 75, No. 132 / Monday, July 12, 2010 / Notices Record Study prepared by the California Department of Motor Vehicles concluded that the best overall crash predictor for both concurrent and nonconcurrent events is the number of single convictions. This study used 3 consecutive years of data, comparing the experiences of drivers in the first 2 years with their experiences in the final year. Applying principles from these studies to the past 3-year record of the 22 applicants, two of the applicants had traffic violations for speeding, one of the applicants had a traffic violation for failure to obey a traffic control device, one of the applicants had a traffic violation for failure to use the proper signal while changing lanes and one of the drivers was involved in a crash. All the applicants achieved a record of safety while driving with their vision impairment, demonstrating the likelihood that they have adapted their driving skills to accommodate their condition. As the applicants’ ample driving histories with their vision deficiencies are good predictors of future performance, FMCSA concludes their ability to drive safely can be projected into the future. We believe that the applicants’ intrastate driving experience and history provide an adequate basis for predicting their ability to drive safely in interstate commerce. Intrastate driving, like interstate operations, involves substantial driving on highways on the interstate system and on other roads built to interstate standards. Moreover, driving in congested urban areas exposes the driver to more pedestrian and vehicular traffic than exists on interstate highways. Faster reaction to traffic and traffic signals is generally required because distances between them are more compact. These conditions tax visual capacity and driver response just as intensely as interstate driving conditions. The veteran drivers in this proceeding have operated CMVs safely under those conditions for at least 3 years, most for much longer. Their experience and driving records lead us to believe that each applicant is capable of operating in interstate commerce as safely as he/she has been performing in intrastate commerce. Consequently, FMCSA finds that exempting these applicants from the vision standard in 49 CFR 391.41(b)(10) is likely to achieve a level of safety equal to that existing without the exemption. For this reason, the Agency is granting the exemptions for the 2-year period allowed by 49 U.S.C. 31136(e) and 31315 to the 22 applicants listed in the notice of May 10, 2010 (75 FR 25917). VerDate Mar<15>2010 14:19 Jul 09, 2010 Jkt 220001 We recognize that the vision of an applicant may change and affect his/her ability to operate a CMV as safely as in the past. As a condition of the exemption, therefore, FMCSA will impose requirements on the 22 individuals consistent with the grandfathering provisions applied to drivers who participated in the Agency’s vision waiver program. Those requirements are found at 49 CFR 391.64(b) and include the following: (1) That each individual be physically examined every year (a) by an ophthalmologist or optometrist who attests that the vision in the better eye continues to meet the standard in 49 CFR 391.41(b)(10), and (b) by a medical examiner who attests that the individual is otherwise physically qualified under 49 CFR 391.41; (2) that each individual provide a copy of the ophthalmologist’s or optometrist’s report to the medical examiner at the time of the annual medical examination; and (3) that each individual provide a copy of the annual medical certification to the employer for retention in the driver’s qualification file, or keep a copy in his/her driver’s qualification file if he/she is selfemployed. The driver must also have a copy of the certification when driving, for presentation to a duly authorized Federal, State, or local enforcement official. Discussion of Comments FMCSA received one comment in this proceeding. The comment was considered and discussed below. The Pennsylvania Department of Transportation stated that it had reviewed the driving record for Terry L. Rubendall and was in favor of granting a Federal vision exemption to this individual. Conclusion Based upon its evaluation of the 22 exemption applications, FMCSA exempts Clarke C. Boynton, Clare H. Buxton, Raul Charo, Lester M. Ellingson, Jr., Miguel H. Espinoza, Billy R. Gibbs, Clyde J. Harms, Ricky P. Hastings, Wesley V. Holland, William D. Holt, Azizi A. Jamal, William L. Martin, Gary G. McKown, Larry D. Moss, Leland B. Moss, Michael J. Rankin, Jacob H. Riggle, Terry L. Rubendall, Michael L. Skeens, Lee F. Taylor, Aaron E. Wright and Michael A. Zingarella, Sr., from the vision requirement in 49 CFR 391.41(b)(10), subject to the requirements cited above (49 CFR 391.64(b)). In accordance with 49 U.S.C. 31136(e) and 31315, each exemption will be valid for 2 years unless revoked earlier by FMCSA. The exemption will be revoked PO 00000 Frm 00078 Fmt 4703 Sfmt 4703 39729 if: (1) The person fails to comply with the terms and conditions of the exemption; (2) the exemption has resulted in a lower level of safety than was maintained before it was granted; or (3) continuation of the exemption would not be consistent with the goals and objectives of 49 U.S.C. 31136 and 31315. If the exemption is still effective at the end of the 2-year period, the person may apply to FMCSA for a renewal under procedures in effect at that time. Issued on June 30, 2010. Larry W. Mino, Associate Administrator for Policy and Program Development. [FR Doc. 2010–16833 Filed 7–9–10; 8:45 am] BILLING CODE 4910–EX–P DEPARTMENT OF THE TREASURY Departmental Offices; Debt Management Advisory Committee Meeting Notice is hereby given, pursuant to 5 U.S.C. App. 2, § 10(a)(2), that a meeting will be held at the The Sofitel— Washington DC, Lafayette Square, at 806 15th Street, NW., Washington, DC, on August 3, 2010 at 10 a.m. of the following debt management advisory committee: Treasury Borrowing Advisory Committee of The Securities Industry and Financial Markets Association. The agenda for the meeting provides for a charge by the Secretary of the Treasury or his designate that the Committee discuss particular issues and conduct a working session. Following the working session, the Committee will present a written report of its recommendations. The meeting will be closed to the public, pursuant to 5 U.S.C. App. 2, § 10(d) and Public Law 103–202, § 202(c)(1)(B) (31 U.S.C. 3 121 note). This notice shall constitute my determination, pursuant to the authority placed in heads of agencies by 5 U.S.C. App. 2, § 10(d) and vested in me by Treasury Department Order No. 101–05, that the meeting will consist of discussions and debates of the issues presented to the Committee by the Secretary of the Treasury and the making of recommendations of the Committee to the Secretary, pursuant to Public Law 103–202, § 202(c)(1)(B). Thus, this information is exempt from disclosure under that provision and 5 U.S.C. 552b(c)(3)(B). In addition, the meeting is concerned with information that is exempt from disclosure under 5 U.S.C. 552b(c)(9)(A). The public interest requires that such meetings be closed to E:\FR\FM\12JYN1.SGM 12JYN1 39730 Federal Register / Vol. 75, No. 132 / Monday, July 12, 2010 / Notices the public because the Treasury Department requires frank and full advice from representatives of the financial community prior to making its final decisions on major financing operations. Historically, this advice has been offered by debt management advisory committees established by the several major segments of the financial community. When so utilized, such a committee is recognized to be an advisory committee under 5 U.S.C. App. 2, § 3. Although the Treasury’s final announcement of financing plans may not reflect the recommendations provided in reports of the Committee, premature disclosure of the Committee’s deliberations and reports would be likely to lead to significant financial speculation in the securities market. Thus, this meeting falls within the exemption covered by 5 U.S.C. 552b(c)(9)(A). Treasury staff will provide a technical briefing to the press on the day before the Committee meeting, following the release of a statement of economic conditions and financing estimates. This briefing will give the press an opportunity to ask questions about financing projections. The day after the Committee meeting, Treasury will release the minutes of the meeting, any charts that were discussed at the meeting, and the Committee’s report to the Secretary. The Office of Debt Management is responsible for maintaining records of debt management advisory committee meetings and for providing annual reports setting forth a summary of Committee activities and such other matters as may be informative to the public consistent with the policy of 5 U.S.C. 552(b). The Designated Federal Officer or other responsible agency official who may be contacted for additional information is Fred Pietrangeli, Deputy Director for Office of Debt Management (202) 622–1876. Dated: July 2, 2010. Mary Miller, Assistant Secretary, (Financial Markets). [FR Doc. 2010–16750 Filed 7–9–10; 8:45 am] BILLING CODE 4810–25–M DEPARTMENT OF THE TREASURY erowe on DSK5CLS3C1PROD with NOTICES Tribal Economic Development Bonds AGENCY: Department of the Treasury, Departmental Offices. ACTION: Notice and request for comments. SUMMARY: The Department of the Treasury (‘‘Treasury’’) seeks comments VerDate Mar<15>2010 14:19 Jul 09, 2010 Jkt 220001 from Indian Tribal Governments regarding the Tribal Economic Development Bond provision in Section 7871(f) of the Internal Revenue Code. The purpose of this solicitation of comments is to assist Treasury in developing recommendations regarding this bond provision for a Congressionally-directed study under the American Recovery and Reinvestment Act of 2009. This solicitation of comments is in furtherance of the objectives of Executive Order 13175 under which Treasury consults with tribal officials in the development of Federal policies that have tribal implications, to reinforce the United States government-togovernment relationships with Indian tribes, and to reduce the imposition of unfunded mandates upon Indian tribes. Additional comments from the general public related to this matter are also welcome. DATES: Please submit comments on or before September 10, 2010. FOR FURTHER INFORMATION CONTACT: John J. Cross III, Office of Tax Policy, at (202) 622–1322. SUPPLEMENTARY INFORMATION: Introduction and Background Section 1402 of Title I of Division B of the American Recovery and Reinvestment Act of 2009, Public Law No. 111–5, 123 Stat. 115 (2009) (‘‘ARRA’’), added a $2 billion bond authorization for a new temporary category of tax-exempt bonds with lower borrowing costs for Indian tribal governments, known as ‘‘Tribal Economic Development Bonds,’’ under Section 7871(f) of the Internal Revenue Code (‘‘Code’’) to promote economic development on tribal lands. (Except as noted, section references in this Notice are to the Code.) Section 1402(b) of ARRA directs the Secretary of the Treasury or the Secretary’s delegate to conduct a study of the Tribal Economic Development Bond provision and to report back to Congress with recommendations regarding this provision. In a summary of this ARRA provision, the House Ways and Means Committee and the Senate Finance Committee indicated that, in particular, Treasury should study whether to repeal on a permanent basis the existing more restrictive ‘‘essential governmental function’’ standard for tax-exempt governmental bond financing by Indian tribal governments under Section 7871(c). See https:// waysandmeans.house.gov/media/pdf/ 111/arra.pdf. The more restrictive existing standard under Section 7871(c) generally limits PO 00000 Frm 00079 Fmt 4703 Sfmt 4703 the use of tax-exempt bonds by Indian tribal governments to the financing of certain activities that constitute ‘‘essential governmental functions’’ customarily performed by State and local governments with general taxing powers and certain manufacturing facilities. The essential governmental function standard under Section 7871(c) was enacted originally in 1982 as part of the Indian Tribal Government Tax Status Act, Public Law No. 97–473 (1983), 96 Stat. 2605 (‘‘Tribal Tax Act’’). The legislative history to the Tribal Tax Act indicated that essential governmental functions for this purpose included activities such as schools, streets, or sewers, but did not include activities financed with private activity bonds or other commercial or industrial activities. See H.R. Rep. No. 97–982, 97th Cong. 2d Sess. 17 (1982) and S. Rep. No. 97–646, 97th Cong. 2d. Sess. at 13–14 (1982). In 1987, Section 7871(e) was added to the Code to limit the essential governmental functions standard further to provide that an essential governmental function does not include any function which is not customarily performed by State and local governments with general taxing powers. See The Omnibus Budget Reconciliation Act of 1987, Public Law No. 100–203, 101 Stat. 1330, § 10632(a) (1987). Further, in the legislative history to this provision, the House Ways and Means Committee criticized 1984 Temporary Treasury Regulations under section 7871(c) for treating certain commercial and industrial activities eligible for Federal funding as essential governmental functions and indicated that these regulations were invalid to that extent. H.R. Rep. No. 100–391, 100th Cong. 1st Sess. at 1139 (1987). However, in 1987, Section 7871(c)(3) was added to the Code to allow Indian tribal governments to use tax-exempt bond financing for manufacturing facilities under certain parameters. The custom-based essential governmental function standard under Section 7871(e) has proven to be a difficult administrative standard and has led to audit disputes, based on difficulties in determining customs, the evolving nature of the functions customarily performed by State and local governments, and increasing involvement of State and local governments in quasi-commercial activities. In 2006, Treasury and the Internal Revenue Service (‘‘IRS’’) promulgated an Advance Notice of Proposed Rulemaking regarding the essential governmental function standard for the issuance of tax-exempt bonds by Indian E:\FR\FM\12JYN1.SGM 12JYN1

Agencies

[Federal Register Volume 75, Number 132 (Monday, July 12, 2010)]
[Notices]
[Pages 39729-39730]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-16750]


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DEPARTMENT OF THE TREASURY


Departmental Offices; Debt Management Advisory Committee Meeting

    Notice is hereby given, pursuant to 5 U.S.C. App. 2, Sec.  
10(a)(2), that a meeting will be held at the The Sofitel--Washington 
DC, Lafayette Square, at 806 15th Street, NW., Washington, DC, on 
August 3, 2010 at 10 a.m. of the following debt management advisory 
committee: Treasury Borrowing Advisory Committee of The Securities 
Industry and Financial Markets Association.
    The agenda for the meeting provides for a charge by the Secretary 
of the Treasury or his designate that the Committee discuss particular 
issues and conduct a working session. Following the working session, 
the Committee will present a written report of its recommendations. The 
meeting will be closed to the public, pursuant to 5 U.S.C. App. 2, 
Sec.  10(d) and Public Law 103-202, Sec.  202(c)(1)(B) (31 U.S.C. 3 121 
note).
    This notice shall constitute my determination, pursuant to the 
authority placed in heads of agencies by 5 U.S.C. App. 2, Sec.  10(d) 
and vested in me by Treasury Department Order No. 101-05, that the 
meeting will consist of discussions and debates of the issues presented 
to the Committee by the Secretary of the Treasury and the making of 
recommendations of the Committee to the Secretary, pursuant to Public 
Law 103-202, Sec.  202(c)(1)(B). Thus, this information is exempt from 
disclosure under that provision and 5 U.S.C. 552b(c)(3)(B). In 
addition, the meeting is concerned with information that is exempt from 
disclosure under 5 U.S.C. 552b(c)(9)(A). The public interest requires 
that such meetings be closed to

[[Page 39730]]

the public because the Treasury Department requires frank and full 
advice from representatives of the financial community prior to making 
its final decisions on major financing operations. Historically, this 
advice has been offered by debt management advisory committees 
established by the several major segments of the financial community. 
When so utilized, such a committee is recognized to be an advisory 
committee under 5 U.S.C. App. 2, Sec.  3.
    Although the Treasury's final announcement of financing plans may 
not reflect the recommendations provided in reports of the Committee, 
premature disclosure of the Committee's deliberations and reports would 
be likely to lead to significant financial speculation in the 
securities market. Thus, this meeting falls within the exemption 
covered by 5 U.S.C. 552b(c)(9)(A).
    Treasury staff will provide a technical briefing to the press on 
the day before the Committee meeting, following the release of a 
statement of economic conditions and financing estimates. This briefing 
will give the press an opportunity to ask questions about financing 
projections. The day after the Committee meeting, Treasury will release 
the minutes of the meeting, any charts that were discussed at the 
meeting, and the Committee's report to the Secretary.
    The Office of Debt Management is responsible for maintaining 
records of debt management advisory committee meetings and for 
providing annual reports setting forth a summary of Committee 
activities and such other matters as may be informative to the public 
consistent with the policy of 5 U.S.C. 552(b). The Designated Federal 
Officer or other responsible agency official who may be contacted for 
additional information is Fred Pietrangeli, Deputy Director for Office 
of Debt Management (202) 622-1876.

    Dated: July 2, 2010.
Mary Miller,
Assistant Secretary, (Financial Markets).
[FR Doc. 2010-16750 Filed 7-9-10; 8:45 am]
BILLING CODE 4810-25-M

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