Regulations Governing Agencies for Issue of United States Savings Bonds; Offering of United States Savings Bonds, Series EE; Regulations Governing Definitive United States Savings Bonds, Series EE and HH; Offering of United States Savings Bonds, Series I, 52459-52461 [2010-21197]
Download as PDF
<![CDATA[
Federal Register / Vol. 75, No. 165 / Thursday, August 26, 2010 / Rules and Regulations
Section 301.6103(j)(1)–1 of the
regulations formerly permitted
disclosure of the total number of
documents reported on Form 1096
transmitting Forms 1099–MISC and the
total amount reported on Form 1096
transmitting Forms 1099–MISC. At the
request of the Secretary of Commerce,
the Treasury Department removed these
items from the list of items of return
information authorized to be disclosed
(See TD 9372, 72 FR 73262 [Dec. 27,
2007]). This removal was consistent
with the Secretary of Commerce’s
practice to seek revocation of
authorizations for disclosure of return
information no longer considered
necessary for the structuring of censuses
or related statistical activity.
The Secretary of Commerce has since
determined that these items of return
information are necessary for the
structuring of census and conducting
related statistical activities authorized
by law because these items provide
critical data about contract labor that is
needed to estimate total employment
and payroll in the United States. The
employment and compensation data
compiled by the Census Bureau are
important to analysts and policy makers
in both the public and private sectors.
The Secretary of Commerce asserts that,
because of the strong need for this data
in order to accurately reflect total
employment and payroll in the United
States, good cause exists to amend
Section 301.6103(j)(1)–1 of the
regulations to restore the items listed in
this section to the list of items of return
information that may be disclosed. The
Treasury Department and the IRS agree
that amending existing regulations to
permit disclosure of these items to the
Bureau is appropriate to meet the
analytical needs of the Bureau.
mstockstill on DSKH9S0YB1PROD with RULES
Special Analyses
It has been determined that this
Treasury decision is not a significant
regulatory action as defined in
Executive Order 12866. Therefore, a
regulatory assessment is not required. It
also has been determined that section
553(b) of the Administrative Procedures
Act (5 U.S.C. chapter 5) does not apply
to these regulations. For applicability of
the Regulatory Flexibility Act, please
refer to the cross-referenced notice of
proposed rulemaking published
elsewhere in this Federal Register.
Pursuant to section 7805(f) of the Code,
this regulation has been submitted to
the Chief Counsel for Advocacy of the
Small Business Administration for
comment on its impact on small
business.
VerDate Mar<15>2010
20:57 Aug 25, 2010
Jkt 220001
Drafting Information
The principal author of these
regulations is Melissa Segal, Office of
the Associate Chief Counsel (Procedure
& Administration).
List of Subjects in 26 CFR Part 301
Employment taxes, Estate taxes, Gift
taxes, Income taxes, Penalties, Reporting
and recordkeeping requirements.
Adoption of Amendments to the
Regulations
Accordingly, 26 CFR part 301 is
amended as follows:
■
PART 301—PROCEDURE AND
ADMINISTRATION
Paragraph 1. The authority citation
for part 301 continues to read in part as
follows:
■
52459
(xxx) Total amount reported on Form
1096 transmitting Forms 1099–MISC.
*
*
*
*
*
(e) Effective/applicability date.
Paragraph (b)(3)(xxix) through
(b)(3)(xxx) of this section is applicable
to disclosures to the Bureau of the
Census on or after August 26, 2010.
(f) * * * The applicability of
paragraphs (b)(3)(xxix) through
(b)(3)(xxx) of this section expires on or
before August 26, 2013.
Steven T. Miller,
Deputy Commissioner for Services and
Enforcement.
Approved: August 11, 2010.
Michael Mundaca,
Assistant Secretary of the Treasury (Tax
Policy).
[FR Doc. 2010–21049 Filed 8–25–10; 8:45 am]
BILLING CODE 4830–01–P
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 301.6103(j)(1)–1 is
amended by adding paragraph
(b)(3)(xxv) and revising paragraph (e) to
read as follows:
■
§ 301.6103(j)(1)–1 Disclosure of return
information reflected on returns to officers
and employees of the Department of
Commerce for certain statistical purposes
and related activities.
*
*
*
*
*
(b) * * *
(3) * * *
(xxv) From Form 6765 (when filed
with corporation income tax returns)—
total qualified research expenses.
*
*
*
*
*
(e) Effective/applicability date.
Paragraph (b)(3)(xxv) of this section is
applicable to disclosures to the Bureau
of the Census on or after August 26,
2010.
■ Par. 3. Section 301.6103(j)(1)–1T is
amended by:
■ 1. Reserve paragraphs (b)(3)(xxvi)
through (b)(3)(xxviii).
■ 2. Adding paragraphs (b)(3)(xxix) and
(b)(3)(xxx).
■ 3. Revising paragraph (e).
■ 4. Adding a sentence at the end of
paragraph (f).
§ 301.6103(j)(1)–1T Disclosures of return
information reflected on returns to officers
and employees of the Department of
Commerce, for certain statistical purposes
and related activities (temporary).
*
*
*
*
*
(b)(3)(xxvi) through (b)(3)(xxviii)
[Reserved]. For further guidance, see
§ 301.6103(j)(1)–1(b)(3)(xxvi) through
(b)(3)(xxviii).
(xxix) Total number of documents
reported on Form 1096 transmitting
Forms 1099–MISC.
PO 00000
Frm 00031
Fmt 4700
Sfmt 4700
DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Parts 317, 351, 353, and 359
Regulations Governing Agencies for
Issue of United States Savings Bonds;
Offering of United States Savings
Bonds, Series EE; Regulations
Governing Definitive United States
Savings Bonds, Series EE and HH;
Offering of United States Savings
Bonds, Series I
Bureau of the Public Debt,
Fiscal Service, Treasury.
ACTION: Final rule.
AGENCY:
Treasury is discontinuing the
issuance of definitive (paper) savings
bonds through payroll savings plans.
DATES: Effective Date: The amendments
to 31 CFR 351.47 and 31 CFR 359.35 are
effective on October 1, 2010; all other
amendments are effective on January 1,
2011.
ADDRESSES: You can download this
Final Rule at the following Internet
addresses: https://
www.publicdebt.treas.gov, https://
www.gpo.gov, or https://
www.regulations.gov.
SUMMARY:
FOR FURTHER INFORMATION CONTACT:
Elisha Whipkey, Director, Division of
Program Administration, Office of Retail
Securities, Bureau of the Public Debt, at
(304) 480–6319 or
elisha.whipkey@bpd.treas.gov.
Ann Fowler, Attorney-Adviser, Susan
Sharp, Attorney-Adviser, Dean Adams,
Assistant Chief Counsel, Edward
Gronseth, Deputy Chief Counsel, Office
of the Chief Counsel, Bureau of the
E:\FR\FM\26AUR1.SGM
26AUR1
52460
Federal Register / Vol. 75, No. 165 / Thursday, August 26, 2010 / Rules and Regulations
Public Debt, at (304) 480–8692 or
ann.fowler@bpd.treas.gov.
United
States Savings Bonds are nonmarketable Treasury securities which
have been sold continuously since
March 1935. Savings bonds were
introduced as a means of encouraging
broad public participation in
government financing by making
Treasury securities available in small
denominations specially tailored to the
small investor. Today, savings bonds
continue to be an important savings and
investment tool for individuals, and
Treasury is committed to offering
savings bonds to the public as
efficiently as possible.
In order to reduce costs, to increase
the reliability and security of
transactions by moving from paper to
electronics, and to minimize the
Treasury’s impact on the environment,
Treasury is discontinuing the issuance
of definitive (paper) savings bonds
through payroll savings plans. Treasury
will eliminate the option to purchase
paper savings bonds through payroll
deductions for United States
government employees on October 1,
2010, and for all other employees on
January 1, 2011. This policy covers only
paper savings bonds purchased through
payroll sales; individuals will still be
able to purchase paper savings bonds at
financial institutions for themselves and
as gifts. Payroll savers will be
encouraged to continue their purchases
through TreasuryDirect®, a web-based
system that allows investors to buy and
hold electronic savings bonds.
Transitioning employees to electronic
payroll purchases saves employers
administrative costs and allows
employees to manage their own savings
bond accounts.
SUPPLEMENTARY INFORMATION:
mstockstill on DSKH9S0YB1PROD with RULES
Procedural Requirements
Executive Order 12866. This rule is
not a significant regulatory action
pursuant to Executive Order 12866.
Administrative Procedure Act (APA).
Because this rule relates to United
States securities, which are contracts
between Treasury and the owner of the
security, this rule falls within the
contract exception to the APA, 5 U.S.C.
553(a)(2). As a result, the notice, public
comment, and delayed effective date
provisions of the APA are inapplicable
to this rule.
Regulatory Flexibility Act. The
provisions of the Regulatory Flexibility
Act, 5 U.S.C. 601 et seq., do not apply
to this rule because, pursuant to 5
U.S.C. 553(a)(2), it is not required to be
issued with notice and opportunity for
public comment.
VerDate Mar<15>2010
20:57 Aug 25, 2010
Jkt 220001
Paperwork Reduction Act (PRA).
There is no new collection of
information contained in this final rule
that would be subject to the PRA, 44
U.S.C. 3501 et seq. Under the PRA, an
agency may not conduct or sponsor, and
a person is not required to respond to,
a collection of information unless it
displays a valid Office of Management
and Budget control number. The Office
of Management and Budget already has
approved all collections of information
in 31 CFR Part 353 (OMB No. 1535–
0009, 1535–0023, 1535–0063) and Part
359 (OMB No. 1535–0111).
Congressional Review Act (CRA). This
rule is not a major rule pursuant to the
CRA, 5 U.S.C. 801 et seq., because it is
a minor amendment that is expected to
decrease costs for taxpayers and for
employers; therefore, this rule is not
expected to lead to any of the results
listed in 5 U.S.C. 804(2). This rule may
take immediate effect after we submit a
copy of it to Congress and the
Comptroller General.
List of Subjects
§ 317.2
[Amended]
3. Amend § 317.2 by removing
paragraph (c), and redesignating
paragraph (d) as paragraph (c).
■ 4. Amend § 317.3(a) by revising the
second sentence to read as follows:
■
§ 317.3 Procedure for qualifying and
serving as issuing agent.
(a) * * * However, if an organization
seeks qualification under § 317.2(c), it
shall make application directly to the
Bureau of the Public Debt for approval
by the Commissioner of the Bureau of
the Public Debt. * * *
*
*
*
*
*
■ 5. Amend § 317.7 by revising the first
sentence to read as follows:
§ 317.7
stock.
Obtaining and accounting for bond
An issuing agent that is authorized to
inscribe bonds sold over-the-counter
may obtain bond stock from the
designated Federal Reserve Bank. * * *
§ 317.8
[Amended]
6. In § 317.8, remove the Appendix to
§ 317.8.
■
31 CFR Part 317
Bonds, Electronic funds transfers,
Federal Reserve System, Government
securities, Securities.
PART 351—OFFERING OF UNITED
STATES SAVINGS BONDS, SERIES EE
7. The authority citation for part 351
continues to read as follows:
■
31 CFR Part 351
Bonds, Federal Reserve System,
Government securities.
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31
U.S.C. 3105.
31 CFR Part 353
§ 351.46
Banks and banking, Government
securities, Federal Reserve system.
■
31 CFR Part 359
[Amended]
8. Amend § 351.46 by removing
footnote 2.
■ 9. Revise § 351.47 to read as follows:
Bonds, Federal Reserve system,
Government securities, Securities.
§ 351.47 May I purchase definitive Series
EE savings bonds through a payroll
savings plan?
Accordingly, for the reasons set out in
the preamble, 31 CFR Chapter II,
Subchapter B, is amended as follows:
Treasury discontinued the issuance of
definitive Series EE savings bonds
through a payroll savings plan:
(a) Effective October 1, 2010, for
United States government employees,
and
(b) Effective January 1, 2011, for all
other employees.
■
PART 317—REGULATIONS
GOVERNING AGENCIES FOR ISSUE
OF UNITED STATES SAVINGS BONDS.
1. Revise the authority citation for part
317 to read as follows:
■
§ 351.70
[Amended]
10. Amend § 351.70 by redesignating
footnote 3 as footnote 2.
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 12
U.S.C. 1767; and 31 U.S.C. 3105.
■
2. Amend § 317.1 by revising
paragraph (c)(2) to read as follows:
PART 353—REGULATIONS
GOVERNING DEFINITIVE UNITED
STATES SAVINGS BONDS, SERIES EE
AND HH
■
§ 317.1
Definitions.
*
*
*
*
*
(c) * * *
(2) Each organization that is
authorized to inscribe bonds sold overthe-counter.
*
*
*
*
*
PO 00000
Frm 00032
Fmt 4700
Sfmt 4700
11. The authority citation for part 353
continues to read as follows:
■
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31
U.S.C. 3105, 3125.
■
12. Amend § 353.6 by:
E:\FR\FM\26AUR1.SGM
26AUR1
Federal Register / Vol. 75, No. 165 / Thursday, August 26, 2010 / Rules and Regulations
a. Redesignating paragraph (d) as
paragraph (e);
■ b. Redesignating paragraph (c) as
paragraph (d);
■ c. Redesignating paragraph (b)(4) as
paragraph (c) and revising it to read as
follows:
DEPARTMENT OF HOMELAND
SECURITY
§ 353.6
Drawbridge Operation Regulation;
Atlantic Intracoastal Waterway,
Wrightsville Beach, NC and Northeast
Cape Fear River, Wilmington, NC
■
Restrictions on registration.
*
*
*
*
*
(c) Nonresident aliens. A nonresident
alien may be designated co-owner or
beneficiary or, on authorized reissue,
owner, unless the nonresident alien is a
resident of an area with respect to
which the Department of the Treasury
restricts or regulates the delivery of
checks drawn against funds of the
United States or its agencies or
instrumentalities. See Department of the
Treasury Circular No. 655, current
revision (31 CFR part 211). Registration
is not permitted in any form which
includes the name of any alien who is
a resident of any restricted area.
*
*
*
*
*
PART 359—OFFERING OF UNITED
STATES SAVINGS BONDS, SERIES I
13. The authority citation for part 359
continues to read as follows:
■
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31
U.S.C. 3105.
§ 359.34
[Amended]
14. Amend § 359.34 by removing
footnote 4.
■
■
15. Revise § 359.35 to read as follows:
§ 359.35 May I purchase definitive Series I
savings bonds through a payroll savings
plan?
Treasury discontinued the issuance of
definitive Series I savings bonds
through a payroll savings plan:
(a) Effective October 1, 2010, for
United States government employees,
and
(b) Effective January 1, 2011, for all
other employees.
§ 359.55
[Amended]
16. Amend § 359.55 by redesignating
footnote 5 as footnote 4.
mstockstill on DSKH9S0YB1PROD with RULES
■
Richard L. Gregg,
Fiscal Assistant Secretary.
[FR Doc. 2010–21197 Filed 8–25–10; 8:45 am]
BILLING CODE 4810–39–P
VerDate Mar<15>2010
20:57 Aug 25, 2010
Jkt 220001
Coast Guard
33 CFR Part 117
[Docket No. USCG–2010–0775]
Coast Guard, DHS.
Notice of temporary deviation
from regulations.
AGENCY:
ACTION:
The Commander, Fifth Coast
Guard District, has issued a temporary
deviation from the regulation governing
the operation of two North Carolina
Department of Transportation (NCDOT)
drawbridges: The S.R. 74 Bridge, across
the Atlantic Intracoastal Waterway, mile
283.1, at Wrightsville Beach, NC, and
the Isabel S. Holmes Bridge across the
Northeast Cape Fear River, mile 1.0, at
Wilmington, NC. The deviation is
necessary to accommodate distance
races. This deviation allows the bridges
to remain in the closed position during
the races.
DATES: This deviation is effective from
7 a.m. through 11:59 p.m. on November
13, 2010.
ADDRESSES: Documents mentioned in
this preamble as being available in the
docket are part of docket USCG–2010–
0775 and are available online by going
to https://www.regulations.gov, inserting
USCG–2010–0775 in the ‘‘Keyword’’ box
and then clicking ‘‘Search’’. They are
also available for inspection or copying
at the Docket Management Facility (M–
30), U.S. Department of Transportation,
West Building Ground Floor, Room
W12–140, 1200 New Jersey Avenue, SE.,
Washington, DC 20590, between 9 a.m.
and 5 p.m., Monday through Friday,
except Federal holidays.
FOR FURTHER INFORMATION CONTACT: If
you have questions on this rule, call or
e-mail Lindsey Middleton, Coast Guard;
telephone 757–398–6629, e-mail
Lindsey.R.Middleton@uscg.mil. If you
have questions on viewing the docket,
call Renee V. Wright, Program Manager,
Docket Operations, telephone 202–366–
9826.
SUPPLEMENTARY INFORMATION: The
Wilmington Family YMCA on behalf of
the NCDOT requested a temporary
deviation from the current operating
regulations of the S.R. 74 Bridge across
the Atlantic Intracoastal Waterway
(AIWW), mile 283.1, at Wrightsville
Beach and the Isabel S. Holmes Bridge
across the Northeast Cape Fear River,
SUMMARY:
PO 00000
Frm 00033
Fmt 4700
Sfmt 4700
52461
mile 1.0, at Wilmington. The current
operating schedules for the
aforementioned bridges are set out in
33 CFR 117.821(a) (4) and 33 CFR
117.829(a) respectively. The requested
deviation is to accommodate the Third
Annual Beach2Battleship Iron and HalfIron distance Triathlons scheduled for
Saturday, November 13, 2010.
The S.R. 74 Bridge at Wrightsville
Beach is a lift drawbridge with a vertical
clearance of 20 feet above mean high
water (MHW) in the closed position.
The Isabel S. Holmes Bridge at
Wilmington is a lift drawbridge with a
vertical clearance of 40 feet above MHW
in the closed position. Vessels that can
pass under the bridge in the closed-tonavigation position can do so at any
time. The bridge will not be able to open
for emergencies.
The Coast Guard will inform the users
of the waterways through our Local and
Broadcast Notices to Mariners of the two
bridge closures so that vessels can
arrange their transits to minimize any
impact caused by the temporary
deviation. There are no alternate routes
available to vessel traffic.
To facilitate the races, the
drawbridges will be maintained in the
closed-to-navigation position on
November 13, 2010, at the following
times: From 7 a.m. to 10:30 a.m. for the
S.R. 74 Bridge and from 12 p.m. to 11:59
p.m. for the Isabel S. Holmes Bridge.
In accordance with 33 CFR 117.35(e),
the drawbridge must return to its regular
operating schedule immediately at the
end of the designated time period. This
deviation from the operating regulations
is authorized under 33 CFR 117.35.
Dated: August 12, 2010.
Waverly W. Gregory, Jr.,
Chief, Bridge Administration Branch, Fifth
Coast Guard District.
[FR Doc. 2010–21300 Filed 8–25–10; 8:45 am]
BILLING CODE 9110–04–P
DEPARTMENT OF HOMELAND
SECURITY
Coast Guard
33 CFR Part 117
[Docket No. USCG–2010–0761]
Drawbridge Operation Regulation;
Pocomoke River, Snow Hill, MD
Coast Guard, DHS.
Notice of temporary deviation
from regulations.
AGENCY:
ACTION:
The Commander, Fifth Coast
Guard District, has issued a temporary
deviation from the regulations
governing the operation of the S12
SUMMARY:
E:\FR\FM\26AUR1.SGM
26AUR1
]]>Agencies
[Federal Register Volume 75, Number 165 (Thursday, August 26, 2010)]
[Rules and Regulations]
[Pages 52459-52461]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-21197]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Fiscal Service
31 CFR Parts 317, 351, 353, and 359
Regulations Governing Agencies for Issue of United States Savings
Bonds; Offering of United States Savings Bonds, Series EE; Regulations
Governing Definitive United States Savings Bonds, Series EE and HH;
Offering of United States Savings Bonds, Series I
AGENCY: Bureau of the Public Debt, Fiscal Service, Treasury.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: Treasury is discontinuing the issuance of definitive (paper)
savings bonds through payroll savings plans.
DATES: Effective Date: The amendments to 31 CFR 351.47 and 31 CFR
359.35 are effective on October 1, 2010; all other amendments are
effective on January 1, 2011.
ADDRESSES: You can download this Final Rule at the following Internet
addresses: https://www.publicdebt.treas.gov, https://www.gpo.gov, or
https://www.regulations.gov.
FOR FURTHER INFORMATION CONTACT: Elisha Whipkey, Director, Division of
Program Administration, Office of Retail Securities, Bureau of the
Public Debt, at (304) 480-6319 or elisha.whipkey@bpd.treas.gov.
Ann Fowler, Attorney-Adviser, Susan Sharp, Attorney-Adviser, Dean
Adams, Assistant Chief Counsel, Edward Gronseth, Deputy Chief Counsel,
Office of the Chief Counsel, Bureau of the
[[Page 52460]]
Public Debt, at (304) 480-8692 or ann.fowler@bpd.treas.gov.
SUPPLEMENTARY INFORMATION: United States Savings Bonds are non-
marketable Treasury securities which have been sold continuously since
March 1935. Savings bonds were introduced as a means of encouraging
broad public participation in government financing by making Treasury
securities available in small denominations specially tailored to the
small investor. Today, savings bonds continue to be an important
savings and investment tool for individuals, and Treasury is committed
to offering savings bonds to the public as efficiently as possible.
In order to reduce costs, to increase the reliability and security
of transactions by moving from paper to electronics, and to minimize
the Treasury's impact on the environment, Treasury is discontinuing the
issuance of definitive (paper) savings bonds through payroll savings
plans. Treasury will eliminate the option to purchase paper savings
bonds through payroll deductions for United States government employees
on October 1, 2010, and for all other employees on January 1, 2011.
This policy covers only paper savings bonds purchased through payroll
sales; individuals will still be able to purchase paper savings bonds
at financial institutions for themselves and as gifts. Payroll savers
will be encouraged to continue their purchases through
TreasuryDirect[supreg], a web-based system that allows investors to buy
and hold electronic savings bonds. Transitioning employees to
electronic payroll purchases saves employers administrative costs and
allows employees to manage their own savings bond accounts.
Procedural Requirements
Executive Order 12866. This rule is not a significant regulatory
action pursuant to Executive Order 12866.
Administrative Procedure Act (APA). Because this rule relates to
United States securities, which are contracts between Treasury and the
owner of the security, this rule falls within the contract exception to
the APA, 5 U.S.C. 553(a)(2). As a result, the notice, public comment,
and delayed effective date provisions of the APA are inapplicable to
this rule.
Regulatory Flexibility Act. The provisions of the Regulatory
Flexibility Act, 5 U.S.C. 601 et seq., do not apply to this rule
because, pursuant to 5 U.S.C. 553(a)(2), it is not required to be
issued with notice and opportunity for public comment.
Paperwork Reduction Act (PRA). There is no new collection of
information contained in this final rule that would be subject to the
PRA, 44 U.S.C. 3501 et seq. Under the PRA, an agency may not conduct or
sponsor, and a person is not required to respond to, a collection of
information unless it displays a valid Office of Management and Budget
control number. The Office of Management and Budget already has
approved all collections of information in 31 CFR Part 353 (OMB No.
1535-0009, 1535-0023, 1535-0063) and Part 359 (OMB No. 1535-0111).
Congressional Review Act (CRA). This rule is not a major rule
pursuant to the CRA, 5 U.S.C. 801 et seq., because it is a minor
amendment that is expected to decrease costs for taxpayers and for
employers; therefore, this rule is not expected to lead to any of the
results listed in 5 U.S.C. 804(2). This rule may take immediate effect
after we submit a copy of it to Congress and the Comptroller General.
List of Subjects
31 CFR Part 317
Bonds, Electronic funds transfers, Federal Reserve System,
Government securities, Securities.
31 CFR Part 351
Bonds, Federal Reserve System, Government securities.
31 CFR Part 353
Banks and banking, Government securities, Federal Reserve system.
31 CFR Part 359
Bonds, Federal Reserve system, Government securities, Securities.
0
Accordingly, for the reasons set out in the preamble, 31 CFR Chapter
II, Subchapter B, is amended as follows:
PART 317--REGULATIONS GOVERNING AGENCIES FOR ISSUE OF UNITED STATES
SAVINGS BONDS.
0
1. Revise the authority citation for part 317 to read as follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 12 U.S.C. 1767; and 31
U.S.C. 3105.
0
2. Amend Sec. 317.1 by revising paragraph (c)(2) to read as follows:
Sec. 317.1 Definitions.
* * * * *
(c) * * *
(2) Each organization that is authorized to inscribe bonds sold
over-the-counter.
* * * * *
Sec. 317.2 [Amended]
0
3. Amend Sec. 317.2 by removing paragraph (c), and redesignating
paragraph (d) as paragraph (c).
0
4. Amend Sec. 317.3(a) by revising the second sentence to read as
follows:
Sec. 317.3 Procedure for qualifying and serving as issuing agent.
(a) * * * However, if an organization seeks qualification under
Sec. 317.2(c), it shall make application directly to the Bureau of the
Public Debt for approval by the Commissioner of the Bureau of the
Public Debt. * * *
* * * * *
0
5. Amend Sec. 317.7 by revising the first sentence to read as follows:
Sec. 317.7 Obtaining and accounting for bond stock.
An issuing agent that is authorized to inscribe bonds sold over-
the-counter may obtain bond stock from the designated Federal Reserve
Bank. * * *
Sec. 317.8 [Amended]
0
6. In Sec. 317.8, remove the Appendix to Sec. 317.8.
PART 351--OFFERING OF UNITED STATES SAVINGS BONDS, SERIES EE
0
7. The authority citation for part 351 continues to read as follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.
Sec. 351.46 [Amended]
0
8. Amend Sec. 351.46 by removing footnote 2.
0
9. Revise Sec. 351.47 to read as follows:
Sec. 351.47 May I purchase definitive Series EE savings bonds through
a payroll savings plan?
Treasury discontinued the issuance of definitive Series EE savings
bonds through a payroll savings plan:
(a) Effective October 1, 2010, for United States government
employees, and
(b) Effective January 1, 2011, for all other employees.
Sec. 351.70 [Amended]
0
10. Amend Sec. 351.70 by redesignating footnote 3 as footnote 2.
PART 353--REGULATIONS GOVERNING DEFINITIVE UNITED STATES SAVINGS
BONDS, SERIES EE AND HH
0
11. The authority citation for part 353 continues to read as follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105, 3125.
0
12. Amend Sec. 353.6 by:
[[Page 52461]]
0
a. Redesignating paragraph (d) as paragraph (e);
0
b. Redesignating paragraph (c) as paragraph (d);
0
c. Redesignating paragraph (b)(4) as paragraph (c) and revising it to
read as follows:
Sec. 353.6 Restrictions on registration.
* * * * *
(c) Nonresident aliens. A nonresident alien may be designated co-
owner or beneficiary or, on authorized reissue, owner, unless the
nonresident alien is a resident of an area with respect to which the
Department of the Treasury restricts or regulates the delivery of
checks drawn against funds of the United States or its agencies or
instrumentalities. See Department of the Treasury Circular No. 655,
current revision (31 CFR part 211). Registration is not permitted in
any form which includes the name of any alien who is a resident of any
restricted area.
* * * * *
PART 359--OFFERING OF UNITED STATES SAVINGS BONDS, SERIES I
0
13. The authority citation for part 359 continues to read as follows:
Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 U.S.C. 3105.
Sec. 359.34 [Amended]
0
14. Amend Sec. 359.34 by removing footnote 4.
0
15. Revise Sec. 359.35 to read as follows:
Sec. 359.35 May I purchase definitive Series I savings bonds through
a payroll savings plan?
Treasury discontinued the issuance of definitive Series I savings
bonds through a payroll savings plan:
(a) Effective October 1, 2010, for United States government
employees, and
(b) Effective January 1, 2011, for all other employees.
Sec. 359.55 [Amended]
0
16. Amend Sec. 359.55 by redesignating footnote 5 as footnote 4.
Richard L. Gregg,
Fiscal Assistant Secretary.
[FR Doc. 2010-21197 Filed 8-25-10; 8:45 am]
BILLING CODE 4810-39-P
