Drawbridge Operation Regulation; Trent River, New Bern, NC, 48251 [2015-19770]

Download as PDF mstockstill on DSK4VPTVN1PROD with RULES Federal Register / Vol. 80, No. 155 / Wednesday, August 12, 2015 / Rules and Regulations provides that Grantor’s gain on the sale of that interest is the excess of the amount realized, $100x, over Grantor’s adjusted basis in the interest. (d) Grantor’s adjusted basis in the unitrust interest in CRUT is that portion of CRUT’s adjusted uniform basis that is assignable to Grantor’s interest under § 1.1014–5, which is Grantor’s actuarial share of the adjusted uniform basis. In this case, CRUT’s adjusted uniform basis in its sole asset, the Z stock, is $110x. However, paragraph (c) of this section applies to the transaction. Therefore, Grantor’s actuarial share of CRUT’s adjusted uniform basis (determined by applying the factors set forth in the tables contained in § 20.2031–7 of this chapter) is reduced by an amount determined by applying the same factors to the sum of CRUT’s $0 of undistributed net ordinary income and its $100x of undistributed net capital gains. (e) In determining Charity’s share of the adjusted uniform basis, Charity applies the factors set forth in the tables contained in § 20.2031–7 of this chapter to the full $110x of basis. Example 8. (a) Grantor creates a charitable remainder annuity trust (CRAT) on Date 1 in which Grantor retains an annuity interest and irrevocably transfers the remainder interest to Charity. Grantor is an individual taxpayer subject to income tax. CRAT meets the requirements of section 664 and is exempt from income tax. (b) Grantor funds CRAT with shares of X stock having a basis of $50x. On Date 2, CRAT sells the X stock for $150x. The $100x of gain is exempt from income tax under section 664(c)(1). On Date 3, CRAT distributes $10x to Grantor, and uses the remaining $140x of net proceeds from its sale of the X stock to purchase Y stock. Grantor treats the $10x distribution as capital gain, so that CRAT’s remaining undistributed net capital gains amount described in section 664(b)(2) and § 1.664–1(d) is $90x. (c) On Date 4, when the fair market value of CRAT’s assets, which consist entirely of the Y stock, is still $140x, Grantor and Charity sell all of their interests in CRAT to a third person. Grantor receives $126x for the retained annuity interest, and Charity receives $14x for its remainder interest. Because the entire interest in CRAT is transferred to the third person, section 1001(e)(3) prevents section 1001(e)(1) from applying to the transaction. Therefore, Grantor’s gain on the sale of the retained annuity interest in CRAT is determined under section 1001(a), which provides that Grantor’s gain on the sale of that interest is the excess of the amount realized, $126x, over Grantor’s adjusted basis in that interest. (d) Grantor’s adjusted basis in the annuity interest in CRAT is that portion of CRAT’s adjusted uniform basis that is assignable to Grantor’s interest under § 1.1014–5, which is Grantor’s actuarial share of the adjusted uniform basis. In this case, CRAT’s adjusted uniform basis in its sole asset, the Y stock, is $140x. However, paragraph (c) of this section applies to the transaction. Therefore, Grantor’s actuarial share of CRAT’s adjusted uniform basis (determined by applying the factors set forth in the tables contained in § 20.2031–7 of this chapter) is reduced by an VerDate Sep<11>2014 18:35 Aug 11, 2015 Jkt 235001 amount determined by applying the same factors to the sum of CRAT’s $0 of undistributed net ordinary income and its $90x of undistributed net capital gains. (e) In determining Charity’s share of the adjusted uniform basis, Charity applies the factors set forth in the tables contained in § 20.2031–7 of this chapter to determine its actuarial share of the full $140x of basis. John Dalrymple, Deputy Commissioner for Services and Enforcement. Approved: July 13, 2015. Mark J. Mazur, Assistant Secretary of the Treasury (Tax Policy). [FR Doc. 2015–19846 Filed 8–11–15; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 117 [Docket No. USCG–2015–0740] Drawbridge Operation Regulation; Trent River, New Bern, NC Coast Guard, DHS. Notice of deviation from drawbridge regulation. AGENCY: ACTION: The Coast Guard has issued a temporary deviation from the operating schedule that governs the US 70/Alfred C. Cunningham Bridge across the Trent River, mile 0.0, at New Bern, NC. The deviation is necessary to allow the participants of the annual Neuse River Historic New Bern Bike Ride (a two day event) to safely complete their ride without interruptions from bridge openings. This deviation allows the bridge draw span to remain in the closed-to-navigation position for one and a half hours each day to accommodate the race. DATES: This deviation is effective from 8 a.m. September 12, 2015 to 9:30 a.m. on September 13, 2015. ADDRESSES: The docket for this deviation, [USCG–2015–0740] is available at http://www.regulations.gov. Type the docket number in the ‘‘SEARCH’’ box and click ‘‘SEARCH.’’ Click on Open Docket Folder on the line associated with this deviation. You may also visit the Docket Management Facility in Room W12–140 on the ground floor of the Department of Transportation West Building, 1200 New Jersey Avenue SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. SUMMARY: PO 00000 Frm 00017 Fmt 4700 Sfmt 9990 48251 If you have questions on this temporary deviation, call or email Mr. Jim Rousseau, Coast Guard; telephone (757) 398–6557, email james.l.rousseau2@ uscg.mil. If you have questions on viewing the docket, call Cheryl Collins, Program Manager, Docket Operations, telephone 202–366–9826. SUPPLEMENTARY INFORMATION: The event coordinator for the annual Neuse River Historic New Bern Bike Ride, with approval from the North Carolina Department of Transportation, owner of the drawbridge, has requested a temporary deviation from the operating schedule to accommodate the Neuse River Bridge Historic New Bern Bike Ride. The US 70/Alfred C. Cunningham Bridge operating regulations are set out in 33 CFR 117.843(a). The US 70/Alfred C. Cunningham Bridge across the Trent River, mile 0.0, a double bascule lift Bridge, in New Bern, NC, has a vertical clearance in the closed position of 14 feet above mean high water. Under this temporary deviation, the drawbridge will be allowed to remain in the closed-to-navigation position from 8 a.m. to 9:30 a.m. each day on Saturday and Sunday, September 12 and 13, 2015 while cyclists are participating in the annual Neuse River Bridge Historic New Bern Bike Ride. Under the regular operating schedule the bridge opens on signal several times a day for recreational vessels transiting to and from the local marinas upstream. During the timeframe for the race the morning hours have shown the fewest recorded vessel transits. Vessels able to pass through the bridge in the closed position may do so at any time and are advised to proceed with caution. The bridge will be able to open for emergencies and there is no alternate route for vessels to pass. The Coast Guard will also inform the users of the waterways through our Local and Broadcast Notices to Mariners of the change in operating schedule for the bridge so that vessels can arrange their transits to minimize any impact caused by the temporary deviation. In accordance with 33 CFR 117.35(e), the drawbridge must return to its regular operating schedule immediately at the end of the effective period of this temporary deviation. This deviation from the operating regulations is authorized under 33 CFR 117.35. FOR FURTHER INFORMATION CONTACT: Dated: August 6, 2015. Hal R. Pitts, Bridge Program Manager, Fifth Coast Guard District. [FR Doc. 2015–19770 Filed 8–11–15; 8:45 am] BILLING CODE 9110–04–P E:\FR\FM\12AUR1.SGM 12AUR1

Agencies

[Federal Register Volume 80, Number 155 (Wednesday, August 12, 2015)]
[Rules and Regulations]
[Page 48251]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-19770]


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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2015-0740]


Drawbridge Operation Regulation; Trent River, New Bern, NC

AGENCY: Coast Guard, DHS.

ACTION: Notice of deviation from drawbridge regulation.

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SUMMARY: The Coast Guard has issued a temporary deviation from the 
operating schedule that governs the US 70/Alfred C. Cunningham Bridge 
across the Trent River, mile 0.0, at New Bern, NC. The deviation is 
necessary to allow the participants of the annual Neuse River Historic 
New Bern Bike Ride (a two day event) to safely complete their ride 
without interruptions from bridge openings. This deviation allows the 
bridge draw span to remain in the closed-to-navigation position for one 
and a half hours each day to accommodate the race.

DATES: This deviation is effective from 8 a.m. September 12, 2015 to 
9:30 a.m. on September 13, 2015.

ADDRESSES: The docket for this deviation, [USCG-2015-0740] is available 
at http://www.regulations.gov. Type the docket number in the ``SEARCH'' 
box and click ``SEARCH.'' Click on Open Docket Folder on the line 
associated with this deviation. You may also visit the Docket 
Management Facility in Room W12-140 on the ground floor of the 
Department of Transportation West Building, 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 
temporary deviation, call or email Mr. Jim Rousseau, Coast Guard; 
telephone (757) 398-6557, email james.l.rousseau2@uscg.mil. If you have 
questions on viewing the docket, call Cheryl Collins, Program Manager, 
Docket Operations, telephone 202-366-9826.

SUPPLEMENTARY INFORMATION: The event coordinator for the annual Neuse 
River Historic New Bern Bike Ride, with approval from the North 
Carolina Department of Transportation, owner of the drawbridge, has 
requested a temporary deviation from the operating schedule to 
accommodate the Neuse River Bridge Historic New Bern Bike Ride.
    The US 70/Alfred C. Cunningham Bridge operating regulations are set 
out in 33 CFR 117.843(a). The US 70/Alfred C. Cunningham Bridge across 
the Trent River, mile 0.0, a double bascule lift Bridge, in New Bern, 
NC, has a vertical clearance in the closed position of 14 feet above 
mean high water.
    Under this temporary deviation, the drawbridge will be allowed to 
remain in the closed-to-navigation position from 8 a.m. to 9:30 a.m. 
each day on Saturday and Sunday, September 12 and 13, 2015 while 
cyclists are participating in the annual Neuse River Bridge Historic 
New Bern Bike Ride.
    Under the regular operating schedule the bridge opens on signal 
several times a day for recreational vessels transiting to and from the 
local marinas upstream. During the timeframe for the race the morning 
hours have shown the fewest recorded vessel transits.
    Vessels able to pass through the bridge in the closed position may 
do so at any time and are advised to proceed with caution. The bridge 
will be able to open for emergencies and there is no alternate route 
for vessels to pass. The Coast Guard will also inform the users of the 
waterways through our Local and Broadcast Notices to Mariners of the 
change in operating schedule for the bridge so that vessels can arrange 
their transits to minimize any impact caused by the temporary 
deviation.
    In accordance with 33 CFR 117.35(e), the drawbridge must return to 
its regular operating schedule immediately at the end of the effective 
period of this temporary deviation. This deviation from the operating 
regulations is authorized under 33 CFR 117.35.

    Dated: August 6, 2015.
Hal R. Pitts,
Bridge Program Manager, Fifth Coast Guard District.
[FR Doc. 2015-19770 Filed 8-11-15; 8:45 am]
 BILLING CODE 9110-04-P