2011 Tax Information for Use in the Revenue Shortfall Allocation Method, 34124-34125 [2012-13962]
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34124
Federal Register / Vol. 77, No. 111 / Friday, June 8, 2012 / Notices
A final
rule establishing requirements for
assuring the continued integrity of gas
distribution pipelines (DIMP) was
published on December 4, 2009, (74 FR
63906). The rule required that operators
of gas distribution pipelines develop
and implement integrity management
plans for their pipeline systems by
August 2, 2011. PHMSA and states have
conducted a number of inspections of
gas distribution pipeline operator
integrity management programs. Many
more inspections will follow. This
public meeting is intended to allow
PHMSA, NAPSR, and industry
representatives to share observations
resulting from these initial inspections.
The public meeting is designed to
enhance pipeline safety through
improved integrity management of
natural gas distribution pipeline
systems and will consist of
presentations and panel discussions
provided by a variety of stakeholders.
Panel participants will represent
industry, PHMSA, and NAPSR. Panels
will present information on PHMSA and
NAPSR’s expectations of implemented
distribution integrity management
programs (DIMP) and observations from
DIMP Inspections conducted by PHMSA
and NAPSR. PHMSA and NAPSR will
promote compliance with regulations by
providing an overview of the rule,
including expectations of regulatory
definitions (such as identification of
threats, methodologies for segmentation
of assets for evaluation of risk, risk
ranking, measures designed to reduce
risk, and measuring and monitoring
performance) and discussing
methodologies that industry is
employing to meet the requirements of
the rule. Inspection findings from DIMP
inspections conducted by PHMSA and
state programs and issue areas and areas
of concern will be discussed.
Participants of the public meeting will
benefit from (1) hearing their peers
explain methods of implementation for
certain provisions of the rule and
associated questions experienced during
program development and
implementation; (2) listening to
PHMSA, NAPSR, and industry
experience on implementing the
specific elements of the rule; (3)
discussing rule compliance concerns;
developing a clearer understanding of
the DIMP rule provisions, and (4)
participating in the development of
additional guidance if deemed
necessary through stakeholder feedback.
mstockstill on DSK4VPTVN1PROD with NOTICES
SUPPLEMENTARY INFORMATION:
1 Aff’d sub nom. CSX Transp., Inc. v. STB, 568
F.3d 236 (DC Cir. 2009), and vacated in part on
VerDate Mar<15>2010
16:23 Jun 07, 2012
Jkt 226001
Interested persons may obtain more
information on DIMP by accessing the
DIMP Web site through the PHMSA
Pipeline Safety Community page at
https://www.phmsa.dot.gov/pipeline by
selecting ‘‘Integrity Management
Program (IMP)’’ and then ‘‘Integrity
Management—Distribution.’’
Preliminary Agenda
• Discuss Implementation of the
DIMP Regulation and Regulatory
Developments affecting Distribution
Operators.
• Regulators’ (NAPSR and PHMSA)
Perspective on Implementation of the
DIMP Regulation.
• Breakout Sessions to discuss
various topics regarding the
implementation of distribution IM
Programs and meeting the requirements
of the DIMP rule.
• Presentations from representatives
of the breakout sessions, NAPSR, and
industry.
Issued in Washington, DC, on June 5, 2012.
Jeffrey D Wiese,
Associate Administrator for Pipeline Safety.
[FR Doc. 2012–13991 Filed 6–7–12; 8:45 am]
BILLING CODE 4910–60–P
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[Docket No. EP 682 (Sub-No. 3)]
2011 Tax Information for Use in the
Revenue Shortfall Allocation Method
AGENCY:
Surface Transportation Board,
DOT.
ACTION:
Notice.
The Board is publishing, and
providing the public an opportunity to
comment on, the 2011 weighted average
state tax rates for each Class I railroad,
as calculated by the Association of
American Railroads (AAR), for use in
the Revenue Shortfall Allocation
Method (RSAM).
DATES: Comments are due by July 9,
2012. If any comment opposing AAR’s
calculation is filed, AAR’s reply will be
due by July 30, 2012. If no comments
are filed by the due date, AAR’s
calculation of the 2011 weighted
average state tax rates will be
automatically adopted by the Board,
effective July 10, 2012.
ADDRESSES: Comments may be
submitted either via the Board’s e-filing
format or in traditional paper format.
SUMMARY:
Any person using e-filing should attach
a document and otherwise comply with
the instructions at the E-FILING link on
the Board’s Web site at https://
www.stb.dot.gov. Any person submitting
a filing in the traditional paper format
should send an original and 10 copies
referring to Docket No. EP 682 (Sub-No.
3) to: Surface Transportation Board, 395
E Street SW., Washington, DC 20423–
0001.
FOR FURTHER INFORMATION CONTACT:
Jonathon Binet, (202) 245–0368.
Assistance for the hearing impaired is
available through the Federal
Information Relay Service (FIRS) at
(800) 877–8339.
The
RSAM figure is one of three benchmarks
that together are used to determine the
reasonableness of a challenged rate
under the Board’s Simplified Standards
for Rail Rate Cases, EP 646 (Sub-No. 1)
(STB served Sept. 5, 2007),1 as further
revised in Simplified Standards for Rail
Rate Cases–Taxes in Revenue Shortfall
Allocation Method, EP 646 (Sub-No. 2)
(STB served Nov. 21, 2008). RSAM is
intended to measure the average markup
that the railroad would need to collect
from all of its ‘‘potentially captive
traffic’’ (traffic with a revenue-tovariable-cost ratio above 180%) to earn
adequate revenues as measured by the
Board under 49 U.S.C. 10704(a)(2) (i.e.,
earn a return on investment equal to the
railroad industry cost of capital).
Simplified Standards–Taxes in RSAM,
slip op. at 1. In Simplified Standards–
Taxes in RSAM, slip op. at 3, 5, the
Board modified its RSAM formula to
account for taxes, as the prior formula
mistakenly compared pre-tax and aftertax revenues. In that decision, the Board
stated that it would institute a separate
proceeding in which Class I railroads
would be required to submit the annual
tax information necessary for the
Board’s annual RSAM calculation. Id. at
5–6.
In Annual Submission of Tax
Information for Use in the Revenue
Shortfall Allocation Method, EP 682
(STB served Feb. 26, 2010), the Board
adopted rules to require AAR—a
national trade association—to annually
calculate and submit to the Board the
weighted average state tax rate for each
Class I railroad. See 49 CFR 1135.2(a).
On May 30, 2012, AAR filed its
calculation of the weighted average state
tax rates for 2011, listed below for each
Class I railroad:
SUPPLEMENTARY INFORMATION:
reh’g, CSX Transp., Inc. v. STB, 584 F.3d 1076 (DC
Cir. 2009).
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34125
Federal Register / Vol. 77, No. 111 / Friday, June 8, 2012 / Notices
WEIGHTED AVERAGE STATE TAX RATES
[In percent]
2011
%
Railroad
BNSF Railway Company .........................................................................................................................
CSX Transportation, Inc. .........................................................................................................................
Grand Trunk Corporation .........................................................................................................................
The Kansas City Southern Railway .........................................................................................................
Norfolk Southern Combined ....................................................................................................................
Soo Line Corporation ...............................................................................................................................
Union Pacific Railroad Company .............................................................................................................
Any party wishing to comment on
AAR’s calculation of the 2011 weighted
average state tax rates should file a
comment by July 9, 2012. See 49 CFR
1135.2(c). If any comment opposing
AAR’s calculations is filed, AAR’s reply
will be due by July 30, 2012. Id. If any
comments are filed, the Board will
review AAR’s submission, together with
the comments, and serve a decision
within 60 days of the close of the record
that either accepts, rejects, or modifies
AAR’s railroad-specific tax information.
Id. If no comments are filed by July 9,
2012, AAR’s submitted weighted
average state tax rates will be
automatically adopted by the Board,
effective July 10, 2012. Id.
This action will not significantly
affect either the quality of the human
environment or the conservation of
energy resources.
Decided: June 5, 2012.
By the Board.
Rachel D. Campbell,
Director, Office of Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. 2012–13962 Filed 6–7–12; 8:45 am]
BILLING CODE 4915–01–P
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
mstockstill on DSK4VPTVN1PROD with NOTICES
Indexing the Annual Operating
Revenues of Railroads
The Surface Transportation Board
(STB) is publishing the annual inflationadjusted index factors for 2011. These
factors are used by the railroads to
adjust their gross annual operating
revenues for classification purposes.
This indexing methodology insures that
railroads are classified based on real
business expansion and not from the
affects of inflation. Classification is
important because it determines the
extent to which individual railroads
must comply with STB reporting
requirements.
VerDate Mar<15>2010
16:23 Jun 07, 2012
Jkt 226001
2010
%
5.584
5.660
8.089
6.139
5.942
7.350
6.035
% Change
5.572
5.575
7.634
6.070
5.819
7.305
5.922
0.012
0.085
0.455
0.069
0.123
0.045
0.113
The STB’s annual inflation-adjusted
factors are based on the annual average
Railroad’s Freight Price Index which is
developed by the Bureau of Labor
Statistics (BLS). The STB’s deflator
factor is used to deflate revenues for
comparison with established revenue
thresholds.
The base year for railroads is 1991.
The inflation index factors are presented
as follows:
By the Board, William F. Huneke, Director,
Office of Economics.
Jeffrey Herzig,
Clearance Clerk.
STB RAILROAD INFLATION-ADJUSTED
INDEX AND DEFLATOR FACTOR TABLE
Wisconsin Central Ltd.—IntraCorporate Family Merger Exemption—
Elgin, Joliet and Eastern Railway
Company
Year
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
Index
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
......................
409.50
411.80
415.50
418.80
418.17
417.46
419.67
424.54
423.01
428.64
436.48
445.03
454.33
473.41
522.41
567.34
588.30
656.78
619.73
652.29
708.80
Deflator
1 100.00
99.45
98.55
97.70
97.85
98.02
97.50
96.38
96.72
95.45
93.73
91.92
90.03
86.40
78.29
72.09
69.52
62.28
66.00
62.71
57.71
FOR FURTHER INFORMATION CONTACT:
Paul Aguiar 202–245–0323. [Federal
Information Relay Service (FIRS) for the
hearing impaired: 1–800–877–8339]
Effective Date: January 1, 2011.
1 Ex Parte No. 492, Montana Rail Link, Inc., and
Wisconsin Central Ltd., Joint Petition for
Rulemaking With Respect to 49 CFR 1201, 8 I.C.C.
2d 625 (1992), raised the revenue classification
level for Class I railroads from $50 million (1978
dollars) to $250 million (1991 dollars), effective for
the reporting year beginning January 1, 1992. The
Class II threshold was also raised from $10 million
(1978 dollars) to $20 million (1991 dollars).
PO 00000
Frm 00123
Fmt 4703
Sfmt 4703
[FR Doc. 2012–13938 Filed 6–7–12; 8:45 am]
BILLING CODE 4915–01–P
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[Docket No. FD 35630]
Wisconsin Central Ltd. (WCL),
Wisconsin Central Transportation
Corporation (WCTC), and Elgin, Joliet
and Eastern Railway Company (EJ&E)
(collectively, applicants) have jointly
filed a verified notice of exemption
under 49 CFR 1180.2(d)(3) for an intracorporate family transaction.
WCL, a rail carrier, is a wholly owned
subsidiary of WCTC, a noncarrier,
which, in turn, is a direct subsidiary of
Grand Trunk Corporation (GTC). GTC, a
noncarrier holding company for the U.S.
rail carrier subsidiaries of Canadian
National Railway Company (CNR), is a
direct subsidiary of CNR. In Canadian
National Railway—Control—Wisconsin
Central Transportation, 5 S.T.B. 890
(2001) (CNR/WC), CNR and GTC
acquired control of WCL and other
related rail carriers.1 EJ&E, a rail carrier,
is a direct subsidiary of GTC.2
Applicants state that the rail lines of
WCL and EJ&E connect at Leithton, Ill.,
north of Chicago, Ill., and WCL has
existing overhead trackage rights over
1 At the time of the 2001 CNR/WC transaction, the
WCTC family of rail carriers also included WCL,
Fox Valley & Western Ltd. (FVW), Sault Ste. Marie
Bridge Company (SSMB) and Wisconsin Chicago
Link Ltd. (WCCL). FVW has since been dissolved
into WCL. Wis. Cent. Transp.—Intracorporate
Family Transaction Exemption, FD 34296 (STB
served Jan. 22, 2003). Applicants state that SSMB
and WCCL remain in existence as rail carriers and
subsidiaries of WCTC.
2 Canadian Nat’l Ry.—Control—EJ&E W. Co., FD
35087 (STB served Dec. 24, 2008).
E:\FR\FM\08JNN1.SGM
08JNN1
]]>Agencies
[Federal Register Volume 77, Number 111 (Friday, June 8, 2012)]
[Notices]
[Pages 34124-34125]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2012-13962]
-----------------------------------------------------------------------
DEPARTMENT OF TRANSPORTATION
Surface Transportation Board
[Docket No. EP 682 (Sub-No. 3)]
2011 Tax Information for Use in the Revenue Shortfall Allocation
Method
AGENCY: Surface Transportation Board, DOT.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The Board is publishing, and providing the public an
opportunity to comment on, the 2011 weighted average state tax rates
for each Class I railroad, as calculated by the Association of American
Railroads (AAR), for use in the Revenue Shortfall Allocation Method
(RSAM).
DATES: Comments are due by July 9, 2012. If any comment opposing AAR's
calculation is filed, AAR's reply will be due by July 30, 2012. If no
comments are filed by the due date, AAR's calculation of the 2011
weighted average state tax rates will be automatically adopted by the
Board, effective July 10, 2012.
ADDRESSES: Comments may be submitted either via the Board's e-filing
format or in traditional paper format. Any person using e-filing should
attach a document and otherwise comply with the instructions at the E-
FILING link on the Board's Web site at https://www.stb.dot.gov. Any
person submitting a filing in the traditional paper format should send
an original and 10 copies referring to Docket No. EP 682 (Sub-No. 3)
to: Surface Transportation Board, 395 E Street SW., Washington, DC
20423-0001.
FOR FURTHER INFORMATION CONTACT: Jonathon Binet, (202) 245-0368.
Assistance for the hearing impaired is available through the Federal
Information Relay Service (FIRS) at (800) 877-8339.
SUPPLEMENTARY INFORMATION: The RSAM figure is one of three benchmarks
that together are used to determine the reasonableness of a challenged
rate under the Board's Simplified Standards for Rail Rate Cases, EP 646
(Sub-No. 1) (STB served Sept. 5, 2007),\1\ as further revised in
Simplified Standards for Rail Rate Cases-Taxes in Revenue Shortfall
Allocation Method, EP 646 (Sub-No. 2) (STB served Nov. 21, 2008). RSAM
is intended to measure the average markup that the railroad would need
to collect from all of its ``potentially captive traffic'' (traffic
with a revenue-to-variable-cost ratio above 180%) to earn adequate
revenues as measured by the Board under 49 U.S.C. 10704(a)(2) (i.e.,
earn a return on investment equal to the railroad industry cost of
capital). Simplified Standards-Taxes in RSAM, slip op. at 1. In
Simplified Standards-Taxes in RSAM, slip op. at 3, 5, the Board
modified its RSAM formula to account for taxes, as the prior formula
mistakenly compared pre-tax and after-tax revenues. In that decision,
the Board stated that it would institute a separate proceeding in which
Class I railroads would be required to submit the annual tax
information necessary for the Board's annual RSAM calculation. Id. at
5-6.
---------------------------------------------------------------------------
\1\ Aff'd sub nom. CSX Transp., Inc. v. STB, 568 F.3d 236 (DC
Cir. 2009), and vacated in part on reh'g, CSX Transp., Inc. v. STB,
584 F.3d 1076 (DC Cir. 2009).
---------------------------------------------------------------------------
In Annual Submission of Tax Information for Use in the Revenue
Shortfall Allocation Method, EP 682 (STB served Feb. 26, 2010), the
Board adopted rules to require AAR--a national trade association--to
annually calculate and submit to the Board the weighted average state
tax rate for each Class I railroad. See 49 CFR 1135.2(a). On May 30,
2012, AAR filed its calculation of the weighted average state tax rates
for 2011, listed below for each Class I railroad:
[[Page 34125]]
WEIGHTED AVERAGE STATE TAX RATES
[In percent]
------------------------------------------------------------------------
Railroad 2011 % 2010 % % Change
------------------------------------------------------------------------
BNSF Railway Company............. 5.584 5.572 0.012
CSX Transportation, Inc.......... 5.660 5.575 0.085
Grand Trunk Corporation.......... 8.089 7.634 0.455
The Kansas City Southern Railway. 6.139 6.070 0.069
Norfolk Southern Combined........ 5.942 5.819 0.123
Soo Line Corporation............. 7.350 7.305 0.045
Union Pacific Railroad Company... 6.035 5.922 0.113
------------------------------------------------------------------------
Any party wishing to comment on AAR's calculation of the 2011
weighted average state tax rates should file a comment by July 9, 2012.
See 49 CFR 1135.2(c). If any comment opposing AAR's calculations is
filed, AAR's reply will be due by July 30, 2012. Id. If any comments
are filed, the Board will review AAR's submission, together with the
comments, and serve a decision within 60 days of the close of the
record that either accepts, rejects, or modifies AAR's railroad-
specific tax information. Id. If no comments are filed by July 9, 2012,
AAR's submitted weighted average state tax rates will be automatically
adopted by the Board, effective July 10, 2012. Id.
This action will not significantly affect either the quality of the
human environment or the conservation of energy resources.
Decided: June 5, 2012.
By the Board.
Rachel D. Campbell,
Director, Office of Proceedings.
Jeffrey Herzig,
Clearance Clerk.
[FR Doc. 2012-13962 Filed 6-7-12; 8:45 am]
BILLING CODE 4915-01-P
