Discount Rates for Cost-Effectiveness Analysis of Federal Programs, 4948-4949 [2015-01616]

Download as PDF 4948 Federal Register / Vol. 80, No. 19 / Thursday, January 29, 2015 / Notices relevant, victim-centered responses to sexual violence within AI/AN communities. Dates and Locations: The meeting will be held via webinar on Wednesday, February 18, 2015. The webinar is open to the public for participation. There will be a designated time for the public to speak, and the public can observe and submit comments in writing to Shannon May, the Designated Federal Official. Webinar space is limited. To register for the webinar, please provide your full contact information to Shannon May (contact information below). FOR FURTHER INFORMATION CONTACT: Shannon May, Designated Federal Officer (DFO) for the National Coordination Committee, Federal Bureau of Investigation, Office for Victim Assistance, 935 Pennsylvania Ave. NW., Room 3329, Washington, DC 20535; Phone: (202) 323–9468 [note: this is not a toll-free number]; Email: shannon.may@ic.fbi.gov. The National Coordination Committee on the American Indian/Alaskan Native (AI/AN) Sexual Assault Nurse Examiner (SANE)- Sexual Assault Response Team (SART) Initiative (‘‘National Coordination Committee’’ or ‘‘Committee’’) was established by the Attorney General to provide valuable advice to OVC to encourage the coordination of federal, tribal, state, and local efforts to assist victims of sexual violence within AI/AN communities, and to promote culturally relevant, victim-centered responses to sexual violence within those communities. SUPPLEMENTARY INFORMATION: Webinar Agenda: The agenda will include: (a) A traditional welcome and introductions; (b) remarks from the Director of OVC; (c) an update on the submission of the Committee’s Recommendations Report to the Attorney General; (d) a discussion about the ongoing role of the Committee; (e) comments by members of the public; and (f) a traditional closing. DATES: Shannon May, Project Manager—Victims of Crime, National Coordinator, AI/AN SANE–SART Initiative, Designated Federal Official—National Coordination Committee, Federal Bureau of Investigation, Office for Victim Assistance. Aviva Aron-Dine, Associate Director for Economic Policy, Office of Management and Budget. [FR Doc. 2015–01671 Filed 1–28–15; 8:45 am] APPENDIX C BILLING CODE 4410–18–P (Revised December 2014) OFFICE OF MANAGEMENT AND BUDGET Discount Rates for Cost-Effectiveness Analysis of Federal Programs Office of Management and Budget. ACTION: Revisions to Appendix C of OMB Circular A–94. AGENCY: The Office of Management and Budget revised Circular A–94 in 1992. The revised Circular specified certain discount rates to be updated annually when the interest rate and inflation assumptions used to prepare the Budget of the United States Government were changed. These discount rates are found in Appendix C of the revised Circular. The updated discount rates are shown below. The discount rates in Appendix C are to be SUMMARY: used for cost-effectiveness analysis, including lease-purchase analysis, as specified in the revised Circular. They do not apply to regulatory analysis. The revised discount rates will be in effect through December 2015. FOR FURTHER INFORMATION CONTACT: Gideon Lukens, Office of Economic Policy, Office of Management and Budget, (202) 395–3316. Attachment DISCOUNT RATES FOR COSTEFFECTIVENESS, LEASE PURCHASE, AND RELATED ANALYSES Effective Dates. This appendix is updated annually. This version of the appendix is valid for calendar year 2015. A copy of the updated appendix can be obtained in electronic form through the OMB home page at http://www.whitehouse.gov/omb/circulars_ a094/a94_appx-c/. The text of the Circular is found at http://www.whitehouse.gov/omb/ circulars_a094/, and a table of past years’ rates is located at http:// www.whitehouse.gov/sites/default/files/omb/ assets/a94/dischist.pdf. Updates of the appendix are also available upon request from OMB’s Office of Economic Policy (202– 395–3316). Nominal Discount Rates. A forecast of nominal or market interest rates for calendar year 2015 based on the economic assumptions for the 2016 Budget is presented below. These nominal rates are to be used for discounting nominal flows, which are often encountered in lease-purchase analysis. NOMINAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES [In percent] 3-Year 5-Year 7-Year 10-Year 20-Year 30-Year 1.7 2.2 2.5 2.8 3.1 3.4 Real Discount Rates. A forecast of real interest rates from which the inflation premium has been removed and based on the economic assumptions from the 2016 Budget is presented below. These real rates are to be used for discounting constant-dollar flows, as is often required in cost-effectiveness analysis. REAL INTEREST RATES ON TREASURY NOTES AND BONDS OF SPECIFIED MATURITIES [In percent] mstockstill on DSK4VPTVN1PROD with NOTICES 3-Year 5-Year 7-Year 10-Year 20-Year 30-Year 0.1 0.4 0.7 0.9 1.2 1.4 VerDate Sep<11>2014 18:16 Jan 28, 2015 Jkt 235001 PO 00000 Frm 00096 Fmt 4703 Sfmt 9990 E:\FR\FM\29JAN1.SGM 29JAN1 Federal Register / Vol. 80, No. 19 / Thursday, January 29, 2015 / Notices Analyses of programs with terms different from those presented above may use a linear interpolation. For example, a four-year project can be evaluated with a rate equal to the average of the three-year and five-year rates. Programs with durations longer than 30 years may use the 30-year interest rate. [FR Doc. 2015–01616 Filed 1–28–15; 8:45 am] BILLING CODE 3110–01–P NUCLEAR REGULATORY COMMISSION [Docket No. 52–017; NRC–2008–0149] Virginia Electric and Power Company D/B/A Dominion Virginia Power, North Anna Power Station, Unit 3 Nuclear Regulatory Commission. ACTION: Intent to prepare a supplemental environmental impact statement; withdrawal. AGENCY: The U.S. Nuclear Regulatory Commission (NRC) is withdrawing the intent to prepare a supplemental environmental impact statement (SEIS) published in the Federal Register on February 7, 2011. The purpose of the SEIS the NRC had intended to prepare was to address any impacts that would have resulted from a change in the reactor technology referenced in the North Anna Power Station (NAPS) Unit 3 Combined License (COL) application. The intent to prepare a SEIS is being withdrawn because of the applicant’s decision to return to the original reactor design, as referenced and evaluated in an earlier SEIS for the NAPS. DATES: The effective date of the withdrawal of the intent to prepare a supplemental environmental impact statement is January 29, 2015. ADDRESSES: Please refer to Docket ID NRC–2008–0149 when contacting the NRC about the availability of information regarding this document. You may obtain publicly-available information related to this document using any of the following methods: • Federal Rulemaking Web Site: Go to http://www.regulations.gov and search for Docket ID NRC–2008–0149. Address questions about NRC dockets to Carol Gallagher; telephone: 301–287–3422; email: Carol.Gallagher@nrc.gov. For technical questions, contact the individual listed in the FOR FURTHER INFORMATION CONTACT section of this document. • NRC’s Agencywide Documents Access and Management System (ADAMS): You may obtain publicly available documents online in the ADAMS Public Documents collection at http://www.nrc.gov/reading-rm/ mstockstill on DSK4VPTVN1PROD with NOTICES SUMMARY: VerDate Sep<11>2014 18:16 Jan 28, 2015 Jkt 235001 adams.html. To begin the search, select ‘‘ADAMS Public Documents’’ and then select ‘‘Begin Web-based ADAMS Search.’’ For problems with ADAMS, please contact the NRC’s Public Document Room (PDR) reference staff at 1–800–397–4209, 301–415–4737, or by email to pdr.resource@nrc.gov. The ADAMS accession number for each document referenced in this document (if that document is available in ADAMS) is provided the first time that a document is referenced. • NRC’s PDR: You may examine and purchase copies of public documents at the NRC’s PDR, Room O1–F21, One White Flint North, 11555 Rockville Pike, Rockville, Maryland 20852. • Project Web Site: In addition, project documents can be accessed online at the North Anna Unit 3 COL specific Web page at http://www.nrc. gov/reactors/new-reactors/col/northanna.html. • Other: The following libraries have agreed to maintain documents related to the North Anna Unit 3 Combined License Review for public inspection: Jefferson-Madison Regional Library in Mineral, Virginia; Salem Church Library in Fredericksburg, Virginia; Pamunke Regional Library in Hanover, Virginia; C. Melvin Snow Memorial Library in Spotsylvania, Virginia; and Orange County Library in Orange, Virginia. FOR FURTHER INFORMATION CONTACT: Tamsen Dozier, Office of New Reactors, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001; telephone: 301–415–2272, email: Tamsen.Dozier@ nrc.gov. SUPPLEMENTARY INFORMATION: The decision to prepare a SEIS was based on Dominion’s decision to change the referenced reactor technology from the Economic Simplified Boiling Water Reactor (ESBWR) design, to the U.S. Advanced Pressurized Water Reactor (US–APWR). This change in reactor technology by Dominion occurred after the NRC staff completed its environmental review of the COL application, which is documented in NUREG–1917, ‘‘Supplemental Environmental Impact Statement for the Combined License for North Anna Power Station, Unit 3’’ (COL SEIS). On February 7, 2011 (76 FR 6638), the NRC published a notice of intent to prepare a supplemental EIS and conduct scoping in conjunction with its review of a revised application submitted by Virginia Electric Power Company d/b/a Dominion Virginia Power (Dominion) for a COL to build and operate a new reactor at its NAPS site located in Louisa County, Virginia. The purpose of the February 2011 notice was to inform PO 00000 Frm 00097 Fmt 4703 Sfmt 4703 4949 the public that the NRC staff intended to prepare a supplement to the COL SEIS pertaining to the change in the reactor design. In the proposed SEIS for the US–APWR technology, the staff intended to identify any significant changes to the previous evaluation of environmental impacts that could arise from the applicant’s switch to this reactor design. By letter dated April 25, 2013 (ADAMS Accession No. ML13120A016), Dominion notified the NRC that it planned to revert to the ESBWR technology for its North Anna COL application. As the purpose for preparing the US–APWR SEIS no longer exists, this notice is to inform the public that the staff will not be preparing a SEIS to evaluate the change in impacts that could occur from a different reactor design. Dominion completed revisions to its COL application, including the necessary revisions to its environmental report (ER), to once again reference the ESBWR and submitted the revised application to the NRC by letter dated December 18, 2013. The revised ER is available in ADAMS under Accession No. ML14007A643. The ESBWR was certified by the NRC on September 16, 2014. The final rule for the design certification was published on October 15, 2014 (79 FR 61943). Dated at Rockville, Maryland, this 22nd day of January 2015. For the Nuclear Regulatory Commission. Frank Akstulewicz, Director, Division of New Reactor Licensing, Office of New Reactors. [FR Doc. 2015–01713 Filed 1–28–15; 8:45 am] BILLING CODE 7590–01–P NUCLEAR REGULATORY COMMISSION [NRC–2014–0260] Entergy Nuclear Operations, Inc.; Vermont Yankee Nuclear Power Station Nuclear Regulatory Commission. ACTION: License amendment application; reopening of public comment period. AGENCY: On December 9, 2014, the U.S. Nuclear Regulatory Commission (NRC) solicited comments on, among other proposed actions, a proposed amendment for the Vermont Yankee Nuclear Power Station in a notice entitled, ‘‘Biweekly Notice; Applications and Amendments to Facility Operating Licenses and Combined Licenses Involving No SUMMARY: E:\FR\FM\29JAN1.SGM 29JAN1

Agencies

[Federal Register Volume 80, Number 19 (Thursday, January 29, 2015)]
[Notices]
[Pages 4948-4949]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-01616]


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OFFICE OF MANAGEMENT AND BUDGET


Discount Rates for Cost-Effectiveness Analysis of Federal 
Programs

AGENCY: Office of Management and Budget.

ACTION: Revisions to Appendix C of OMB Circular A-94.

-----------------------------------------------------------------------

SUMMARY: The Office of Management and Budget revised Circular A-94 in 
1992. The revised Circular specified certain discount rates to be 
updated annually when the interest rate and inflation assumptions used 
to prepare the Budget of the United States Government were changed. 
These discount rates are found in Appendix C of the revised Circular. 
The updated discount rates are shown below. The discount rates in 
Appendix C are to be used for cost-effectiveness analysis, including 
lease-purchase analysis, as specified in the revised Circular. They do 
not apply to regulatory analysis.

DATES: The revised discount rates will be in effect through December 
2015.

FOR FURTHER INFORMATION CONTACT: Gideon Lukens, Office of Economic 
Policy, Office of Management and Budget, (202) 395-3316.

Aviva Aron-Dine,
Associate Director for Economic Policy, Office of Management and 
Budget.

Attachment

APPENDIX C

(Revised December 2014)

DISCOUNT RATES FOR COST-EFFECTIVENESS, LEASE PURCHASE, AND RELATED 
ANALYSES

    Effective Dates. This appendix is updated annually. This version 
of the appendix is valid for calendar year 2015. A copy of the 
updated appendix can be obtained in electronic form through the OMB 
home page at http://www.whitehouse.gov/omb/circulars_a094/a94_appx-c/. The text of the Circular is found at http://www.whitehouse.gov/omb/circulars_a094/, and a table of past years' rates is located at 
http://www.whitehouse.gov/sites/default/files/omb/assets/a94/dischist.pdf. Updates of the appendix are also available upon 
request from OMB's Office of Economic Policy (202-395-3316).
    Nominal Discount Rates. A forecast of nominal or market interest 
rates for calendar year 2015 based on the economic assumptions for 
the 2016 Budget is presented below. These nominal rates are to be 
used for discounting nominal flows, which are often encountered in 
lease-purchase analysis.

                   Nominal Interest Rates on Treasury Notes and Bonds of Specified Maturities
                                                  [In percent]
----------------------------------------------------------------------------------------------------------------
      3-Year             5-Year             7-Year            10-Year            20-Year            30-Year
----------------------------------------------------------------------------------------------------------------
            1.7                2.2                2.5                2.8                3.1                3.4
----------------------------------------------------------------------------------------------------------------

    Real Discount Rates. A forecast of real interest rates from 
which the inflation premium has been removed and based on the 
economic assumptions from the 2016 Budget is presented below. These 
real rates are to be used for discounting constant-dollar flows, as 
is often required in cost-effectiveness analysis.

                     Real Interest Rates on Treasury Notes and Bonds of Specified Maturities
                                                  [In percent]
----------------------------------------------------------------------------------------------------------------
      3-Year             5-Year             7-Year            10-Year            20-Year            30-Year
----------------------------------------------------------------------------------------------------------------
            0.1                0.4                0.7                0.9                1.2                1.4
----------------------------------------------------------------------------------------------------------------


[[Page 4949]]

    Analyses of programs with terms different from those presented 
above may use a linear interpolation. For example, a four-year 
project can be evaluated with a rate equal to the average of the 
three-year and five-year rates. Programs with durations longer than 
30 years may use the 30-year interest rate.

[FR Doc. 2015-01616 Filed 1-28-15; 8:45 am]
BILLING CODE 3110-01-P