Deemed Distributions Under Section 305(c) of Stock and Rights To Acquire Stock; Correction, 43567-43568 [2016-15696]

Download as PDF sradovich on DSK3GDR082PROD with PROPOSALS Federal Register / Vol. 81, No. 128 / Tuesday, July 5, 2016 / Proposed Rules (iii) After the request is received, the CEII Coordinator will determine if the information is CEII, and, if it is, whether to release the CEII to the requester. The CEII Coordinator will balance the requester’s need for the information against the sensitivity of the information. If the requester is determined to be eligible to receive the information requested, the CEII Coordinator will determine what conditions, if any, to place on release of the information. (iv) If the CEII Coordinator determines that the CEII requester has not demonstrated a valid or legitimate need for the CEII or that access to the CEII should be denied for other reasons, this determination may be appealed to the General Counsel pursuant to section 388.110 of this Chapter. The General Counsel will decide whether the information is properly classified as CEII, which by definition is exempt from release under FOIA, and whether the Commission should in its discretion make such CEII available to the CEII requester in view of the requester’s asserted legitimacy and need. (v) Once a CEII requester has been verified by Commission staff as a legitimate requester who does not pose a security risk, his or her verification will be valid for the remainder of that calendar year. Such a requester is not required to provide detailed information about himself or herself with subsequent requests during the calendar year. He or she is also not required to file a non-disclosure agreement with subsequent requests during the calendar year because the original non-disclosure agreement will apply to all subsequent releases of CEII. (vi) An organization that is granted access to CEII pursuant to paragraph (g)(5)(ii) of this section may seek to add additional individuals to the nondisclosure agreement within one (1) year of the date of the initial CEII request. Such an organization must provide the names of the added individuals to the CEII Coordinator and certify that notice of each added individual has been given to the submitter. Any newly added individuals must execute a supplement to the original non-disclosure agreement indicating their acceptance of its terms. If there is no written opposition within five (5) days of notifying the CEII Coordinator and the submitter concerning the addition of any newly added individuals, the CEII Coordinator will issue a standard notice accepting the addition of these names to the nondisclosure agreement. If the submitter files a timely opposition with the CEII Coordinator, the CEII Coordinator will VerDate Sep<11>2014 17:18 Jul 01, 2016 Jkt 238001 issue a formal determination addressing the merits of such opposition. If an organization that is granted access to CEII pursuant to paragraph (g)(5)(ii) of this section wants to add new individuals to its non-disclosure agreement more than one year after the date of its initial CEII request, the organization must submit a new CEII request pursuant to paragraph (g)(5)(ii) of this section and a new non-disclosure agreement for each new individual added. (vii) The CEII Coordinator will attempt to respond to the requester under this section according to the timing required for responses under the FOIA in section 18 CFR 388.108(c). (viii) Fees for processing CEII requests will be determined in accordance with section 18 CFR 388.109. (ix) Nothing in this section should be construed as requiring the release of proprietary information, personally identifiable information, cultural resource information and other comparable data protected by statute or any privileged information, including information protected by the deliberative process. (h) Duty to protect CEII. Unauthorized disclosure of CEII is prohibited. (1) To ensure that the Commissioners, Commission employees, and Commission contractors protect CEII from unauthorized disclosure, internal controls will describe the handling, marking, and security controls for CEII. (2) Any individual who requests information pursuant to paragraph (g)(5) of this section must sign and execute a non-disclosure agreement, which indicates the individual’s willingness to adhere to limitations on the use and disclosure of the information requested. The non-disclosure agreement will, at a minimum, require the following: CEII will only be used for the purpose for which it was requested; CEII may only be discussed with authorized recipients; CEII must be kept in a secure place in a manner that would prevent unauthorized access; CEII must be destroyed or returned to the Commission upon request; and the Commission may audit the Recipient’s compliance with the non-disclosure agreement. (i) Sanctions. Any officers, employees, or agents of the Commission who knowingly and willfully disclose CEII in a manner that is not authorized under this section will be subject to appropriate sanctions, such as removal from the federal service, or possible referral for criminal prosecution. Commissioners who knowingly and willfully disclose CEII without authorization may be referred to the PO 00000 Frm 00038 Fmt 4702 Sfmt 4702 43567 Department of Energy Inspector General. The Commission will take responsibility for investigating and, as necessary, imposing sanctions on its employees and agents. [FR Doc. 2016–14761 Filed 7–1–16; 8:45 am] BILLING CODE 6717–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 1 [REG–133673–15] RIN 1545–BN07 Deemed Distributions Under Section 305(c) of Stock and Rights To Acquire Stock; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking. AGENCY: This document contains corrections to a notice of proposed rulemaking (REG–133673–15) that were published in the Federal Register on April 13, 2016 (81 FR 21795). The proposed regulations are in regards to deemed distributions of stock and rights to acquire stock. The proposed regulations would resolve ambiguities concerning the amount and timing of deemed distributions that are or result from adjustments to rights to acquire stock. SUMMARY: Written or electronic comments and requests for a public hearing for the notice of proposed rulemaking published at 81 FR 21795, April 13, 2016 are still being accepted and must be received by July 12, 2016. FOR FURTHER INFORMATION CONTACT: Maurice M. LaBrie at (202) 317–5322; concerning the proposed regulations under sections 860G, 861, 1441, 1461, 1471, and 1473, Subin Seth, (202) 317– 6942; concerning the proposed regulations under section 6045B, Pamela Lew, (202) 317–7053; concerning submission of comments, contact Regina Johnson, (202) 317–6901 (not toll-free numbers). SUPPLEMENTARY INFORMATION: DATES: Background The notice of proposed rulemaking (REG–133673–15) that is subject of this correction is under sections 305 and 1473 of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking (REG–133673–15) contains E:\FR\FM\05JYP1.SGM 05JYP1 43568 Federal Register / Vol. 81, No. 128 / Tuesday, July 5, 2016 / Proposed Rules errors that may prove to be misleading and are in need of clarification. Correction to Publication Accordingly, the notice of proposed rulemaking (REG–133673–15) that was the subject of FR Doc. 2016–08248 is corrected as follows: § 1.305–3 [CORRECTED] 1. On page 21802, first column, fourth line from the bottom of Example 6, the language ‘‘accordance with § 1.305– 7(c)(4)(ii) and the’’ is corrected to read ‘‘accordance with § 1.305–7(c)(4)(i) and the’’. ■ § 1.305–7 [CORRECTED] 2. On page 21803, third column, second line of Example 3.(ii), the language ‘‘§ 1.305–1(d)(5), the holders of the convertible’’ is corrected to read ‘‘§ 1.305–1(d)(4), the holders of the convertible’’. ■ § 1.1473–1 [CORRECTED] 3. On page 21807, third column, in paragraph (d)(7), fifth line from the bottom of the page, the language ‘‘beneficial owner or a flow through’’ is corrected to read ‘‘beneficial owner, or a flow through’’. ■ Martin V. Franks, Branch Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2016–15696 Filed 7–1–16; 8:45 am] BILLING CODE 4830–01–P ENVIRONMENTAL PROTECTION AGENCY 40 CFR Part 52 [EPA–R06–OAR–2016–0278 FRL–9948–59– Region 6] Approval and Promulgation of Implementation Plans; Louisiana; Baton Rouge Nonattainment Area; Base Year Emissions Inventory for the 2008 8-Hour Ozone Standard Environmental Protection Agency (EPA). ACTION: Proposed rule. AGENCY: requires an EI for all ozone nonattainment areas. The inventory includes emission data for Nitrogen Oxides (NOX) and Volatile Organic Compounds (VOCs). EPA is approving the revisions pursuant to section 110 and part D of the CAA and EPA’s regulations. Written comments should be received on or before August 4, 2016. DATES: Submit your comments, identified by EPA–R06–OAR–2016– 0278, at http://www.regulations.gov or via email to salem.nevine@epa.gov. For additional information on how to submit comments see the detailed instructions in the ADDRESSES section of the direct final rule located in the rules section of this Federal Register. ADDRESSES: FOR FURTHER INFORMATION CONTACT: In the Rules and Regulations section of this Federal Register, the EPA is approving the State’s SIP submittal as a direct rule without prior proposal because the Agency views this as noncontroversial submittal and anticipates no adverse comments. A detailed rationale for the approval is set forth in the direct final rule. If no relevant adverse comments are received in response to this action no further activity is contemplated. If the EPA receives relevant adverse comments, the direct final rule will be withdrawn and all public comments received will be addressed in a subsequent final rule based on this proposed rule. The EPA will not institute a second comment period. Any parties interested in commenting on this action should do so at this time. For additional information, see the direct final rule which is located in the Rules and Regulations section of this Federal Register. SUPPLEMENTARY INFORMATION: Dated: June 22, 2016. Ron Curry, Regional Administrator, Region 6. [FR Doc. 2016–15743 Filed 7–1–16; 8:45 am] BILLING CODE 6560–50–P The Environmental Protection Agency (EPA) is proposing to approve a revision to the State Implementation Plan (SIP) submitted by the Louisiana Department of Environmental Quality (LDEQ) to address the emissions inventory (EI) requirement for the Baton Rouge ozone nonattainment area (BRNA) for the 2008 8-hour ozone National Ambient Air Quality Standards (NAAQS). The Clean Air Act (CAA) sradovich on DSK3GDR082PROD with PROPOSALS SUMMARY: VerDate Sep<11>2014 17:18 Jul 01, 2016 Jkt 238001 Ms. Nevine Salem, (214) 665–7222, salem.nevine@epa.gov. PO 00000 DEPARTMENT OF HOMELAND SECURITY Federal Emergency Management Agency 44 CFR Part 67 [Docket ID FEMA–2016–0002; Internal Agency Docket Nos. FEMA–B–1051 and 1060] Proposed Flood Elevation Determinations for Will County, Illinois, and Incorporated Areas; Withdrawal Federal Emergency Management Agency, DHS. ACTION: Proposed rule; withdrawal. AGENCY: The Federal Emergency Management Agency (FEMA) is withdrawing its proposed rule concerning proposed flood elevation determinations for Will County, Illinois, and Incorporated Areas. DATES: The proposed rules published on May 26, 2009 and July 2, 2009 (74 FR 24738 and 74 FR 31656), are withdrawn effective July 5, 2016. ADDRESSES: You may submit comments, identified by Docket Nos. FEMA–B– 1051 and 1060 to Rick Sacbibit, Chief, Engineering Services Branch, Federal Insurance and Mitigation Administration, FEMA, 500 C Street SW., Washington, DC 20472, (202) 646– 7659, or (email) patrick.sacbibit@ fema.dhs.gov. FOR FURTHER INFORMATION CONTACT: Rick Sacbibit, Chief, Engineering Services Branch, Federal Insurance and Mitigation Administration, FEMA, 500 C Street SW., Washington, DC 20472, (202) 646–7659, or (email) patrick.sacbibit@fema.dhs.gov; SUPPLEMENTARY INFORMATION: On May 26, 2009 and July 2, 2009, FEMA published documents proposing flood elevation determinations along one or more flooding sources in City of Joliet, Unincorporated Areas of Will County, and the Villages of Channahon, Frankfort and Manhattan, Illinois (74 FR 24738 at 24741 and 74 FR 31656 at 31658). FEMA is withdrawing the proposed rules because FEMA has or will be issuing a Revised Preliminary Flood Insurance Rate Map, and if necessary a Flood Insurance Study report, featuring updated flood hazard information. A Notice of Proposed Flood Hazard Determinations will be published in the Federal Register and in the affected community’s local newspaper following issuance of the Revised Preliminary Flood Insurance Rate Map. SUMMARY: Authority: 42 U.S.C. 4104; 44 CFR 67.4. Frm 00039 Fmt 4702 Sfmt 4702 E:\FR\FM\05JYP1.SGM 05JYP1

Agencies

[Federal Register Volume 81, Number 128 (Tuesday, July 5, 2016)]
[Proposed Rules]
[Pages 43567-43568]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-15696]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-133673-15]
RIN 1545-BN07


Deemed Distributions Under Section 305(c) of Stock and Rights To 
Acquire Stock; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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

SUMMARY: This document contains corrections to a notice of proposed 
rulemaking (REG-133673-15) that were published in the Federal Register 
on April 13, 2016 (81 FR 21795). The proposed regulations are in 
regards to deemed distributions of stock and rights to acquire stock. 
The proposed regulations would resolve ambiguities concerning the 
amount and timing of deemed distributions that are or result from 
adjustments to rights to acquire stock.

DATES: Written or electronic comments and requests for a public hearing 
for the notice of proposed rulemaking published at 81 FR 21795, April 
13, 2016 are still being accepted and must be received by July 12, 
2016.

FOR FURTHER INFORMATION CONTACT: Maurice M. LaBrie at (202) 317-5322; 
concerning the proposed regulations under sections 860G, 861, 1441, 
1461, 1471, and 1473, Subin Seth, (202) 317-6942; concerning the 
proposed regulations under section 6045B, Pamela Lew, (202) 317-7053; 
concerning submission of comments, contact Regina Johnson, (202) 317-
6901 (not toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

    The notice of proposed rulemaking (REG-133673-15) that is subject 
of this correction is under sections 305 and 1473 of the Internal 
Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking (REG-133673-15) 
contains

[[Page 43568]]

errors that may prove to be misleading and are in need of 
clarification.

Correction to Publication

    Accordingly, the notice of proposed rulemaking (REG-133673-15) that 
was the subject of FR Doc. 2016-08248 is corrected as follows:


Sec.  1.305-3  [CORRECTED]

0
1. On page 21802, first column, fourth line from the bottom of Example 
6, the language ``accordance with Sec.  1.305-7(c)(4)(ii) and the'' is 
corrected to read ``accordance with Sec.  1.305-7(c)(4)(i) and the''.


Sec.  1.305-7  [CORRECTED]

0
2. On page 21803, third column, second line of Example 3.(ii), the 
language ``Sec.  1.305-1(d)(5), the holders of the convertible'' is 
corrected to read ``Sec.  1.305-1(d)(4), the holders of the 
convertible''.


Sec.  1.1473-1  [CORRECTED]

0
3. On page 21807, third column, in paragraph (d)(7), fifth line from 
the bottom of the page, the language ``beneficial owner or a flow 
through'' is corrected to read ``beneficial owner, or a flow through''.

Martin V. Franks,
Branch Chief, Publications and Regulations Branch, Legal Processing 
Division, Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2016-15696 Filed 7-1-16; 8:45 am]
BILLING CODE 4830-01-P