Notification of Submission to the Secretary of Agriculture; Procedural Rule Amendment; Required Use of Federal Register Notices, 51425-51426 [2016-18393]

Download as PDF rmajette on DSK2TPTVN1PROD with PROPOSALS Federal Register / Vol. 81, No. 150 / Thursday, August 4, 2016 / Proposed Rules be a gift to the other partners, D has made a gift to each child of one-half of the excess of the value of the 32 percent limited partner interest as determined in Example 5 over the consideration received by D from the partnership. Example 8. D and D’s children, A and B, organize Limited Liability Company X under the laws of State Y. D, A, and B each contribute cash to X. Under the operating agreement, X maintains a capital account for each member. The capital accounts are adjusted to reflect each member’s contributions to and distributions from X and each member’s share of profits and losses of X. On liquidation, capital account balances control distributions. Profits and losses are allocated on the basis of units issued to each member, which are not in proportion to capital. D holds 98 units, A and B each hold 1 unit. D is designated in the operating agreement as the manager of X with the ability to cause the liquidation of X. X is not a corporation. Under the laws of State Y, X is neither a partnership nor a limited partnership. D and D’s family have control of X because they hold at least 50 percent of the profits interests (or capital interests) of X. Further, D and D’s family have control of X because D holds an interest with the ability to cause the liquidation of X. Example 9. The facts are the same as in Example 8, except that, under the operating agreement, all distributions are made to members based on the units held, which in turn is based on contributions to capital. Further, X elects to be treated as a corporation for federal tax purposes. Under § 25.2701–2(b)(5), D and D’s family have control of X (which is not a corporation and, under local law, is not a partnership or limited partnership) because they hold at least 50 percent of the capital interests in X. Further, D and D’s family have control of X because D holds an interest with the ability to cause the liquidation of X. Example 10. D owns a 1 percent general partner interest and a 74 percent limited partner interest in Limited Partnership X, which in turn holds a 50 percent limited partner interest in Limited Partnership Y and a 50 percent limited partner interest in Limited Partnership Z. D owns the remaining interests in partnerships Y and Z. A, an unrelated individual, has owned a 25 percent limited partner interest in partnership X for more than 3 years. The governing documents of all three partnerships permit liquidation of the entity on the agreement of the owners of 90 percent of the interests but, with the exception of A’s interest, prohibit the withdrawal of a limited partner. A may withdraw on 6-months’ notice and receive A’s interest’s share of the minimum value of partnership X as defined in paragraph (b)(1)(ii) of this section, which share includes a share of the minimum value of partnership Y and of partnership Z. Under the governing documents of all three partnerships, the approval of all partners is required to amend the documents. D transfers a 40 percent limited partner interest in partnership Y to D’s children. For purposes of determining whether D and/or D’s family members have the ability to remove a restriction after the transfer, A is treated as owning a 12.5 percent VerDate Sep<11>2014 14:52 Aug 03, 2016 Jkt 238001 (.25 x.50) interest in partnership Y, thus more than a 10 percent interest, but less than a 20 percent interest, in partnership Y. Accordingly, under paragraph (b)(4)(i)(C) of this section, A’s interest is disregarded for purposes of determining whether D and D’s family hold the right to remove a restriction after the transfer (resulting in D and D’s children being deemed to own 100 percent of Y for this purpose). However, if D instead had transferred a 40 percent limited partner interest in partnership X to D’s children, A’s ownership of a 25 percent interest in partnership X would not have been disregarded, with the result that D and D’s family would not have had the ability to remove a restriction after the transfer. Example 11. (i) D owns 85 of the outstanding shares of X, a corporation, and A, an unrelated individual, owns the remaining 15 shares. Under X’s governing documents, the approval of the shareholders holding 75 percent of the outstanding stock is required to liquidate X. With the exception of nonfamily members, a shareholder may not withdraw from X. Nonfamily members may withdraw on six months’ notice and receive their interest’s share of the minimum value of X as defined in paragraph (b)(1)(ii) of this section. D transfers 10 shares to C, a charity. Four years later, D dies. D bequeaths 10 shares to B, an unrelated individual, and the remaining 65 shares to trusts for the benefit of D’s family. (ii) The prohibition on withdrawal is a restriction described in paragraph (b)(1)(i) of this section. In determining whether D’s estate and/or D’s family may remove the restriction after the transfer occurring on D’s death, the interest of B is disregarded because it was not held by B for at least three years prior to D’s death. The interests of A and C, however, are not disregarded, because each held an interest of at least 10 percent for at least three years prior to D’s death, the total of those interests represents at least 20 percent of X, and each had the right to withdraw on six months’ notice and receive their interest’s share of the minimum value of X. As a result, D and D’s family hold 65 of the deemed total of 90 shares in X, or 72 percent, which is less than the 75 percent needed to liquidate X. Thus, D and D’s family do not have the ability to remove the restriction after the transfer, and section 2704(b) does not apply in valuing D’s interest in X for federal estate tax purposes. Par. 8. Newly designated § 25.2704–4 is amended as follows: ■ 1. The undesignated text is designated as paragraph (a). ■ 2. In the first and second sentences of newly designated paragraph (a), the language ‘‘Section’’ is removed and the language ‘‘Except as provided in paragraph (b) of this section, § ’’ is added in its place. ■ 3. Paragraph (b) is added. The addition reads as follows: ■ § 25.2704–4 Effective date. * * * * * (b)(1) With respect to § 25.2704–1, the first six sentences of paragraph (a)(1), PO 00000 Frm 00045 Fmt 4702 Sfmt 4702 51425 the last sentence of paragraph (a)(2)(i), the third sentence of paragraph (a)(2)(iii), the first and last sentences of paragraph (a)(4), paragraph (a)(5), the second and last sentences of paragraph (c)(1), paragraph (c)(2)(i)(B), and Examples 4, 6 and 7 of paragraph (f), apply to lapses of rights created after October 8, 1990, occurring on or after the date these regulations are published as final regulations in the Federal Register. (2) With respect to § 25.2704–2, paragraphs (a), (b), (c), (d), and (f), the first sentence of paragraph (e), and Examples 1, 3 and 5 of paragraph (g) apply to transfers of property subject to restrictions created after October 8, 1990, occurring on or after the date these regulations are published as final regulations in the Federal Register. (3) Section 25.2704–3 applies to transfers of property subject to restrictions created after October 8, 1990, occurring 30 or more days after the date these regulations are published as final regulations in the Federal Register. John Dalrymple, Deputy Commissioner for Services and Enforcement. [FR Doc. 2016–18370 Filed 8–2–16; 11:15 am] BILLING CODE P ENVIRONMENTAL PROTECTION AGENCY 40 CFR Parts 152, 162, and 166 [EPA–HQ–OPP–2016–0103; FRL–9943–09] RIN 2070–AK06 Notification of Submission to the Secretary of Agriculture; Procedural Rule Amendment; Required Use of Federal Register Notices Environmental Protection Agency (EPA). ACTION: Notification of submission to the Secretary of Agriculture. AGENCY: This document notifies the public as required by the Federal Insecticide, Fungicide, and Rodenticide Act (FIFRA) that the EPA Administrator has forwarded to the Secretary of the United States Department of Agriculture (USDA) a draft regulatory document concerning a Procedural Rule Amendment; Required Use of FR Notices. The draft regulatory document is not available to the public until after it has been signed and made available by EPA. DATES: See Unit I. under SUPPLEMENTARY INFORMATION. SUMMARY: E:\FR\FM\04AUP1.SGM 04AUP1 51426 Federal Register / Vol. 81, No. 150 / Thursday, August 4, 2016 / Proposed Rules The docket for this action, identified by docket identification (ID) number EPA–HQ–OPP–2016–0103, is available at https://www.regulations.gov or at the Office of Pesticide Programs Regulatory Docket (OPP Docket) in the Environmental Protection Agency Docket Center (EPA/DC), West William Jefferson Clinton Bldg., Rm. 3334, 1301 Constitution Ave. NW., Washington, DC 20460–0001. The Public Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal holidays. The telephone number for the Public Reading Room is (202) 566–1744, and the telephone number for the OPP Docket is (703) 305–5805. Please review the visitor instructions and additional information about the docket available at https://www.epa.gov/dockets. FOR FURTHER INFORMATION CONTACT: Cameo G. Smoot, Field and External Affairs Division (7506P), Office of Pesticide Programs, Environmental Protection Agency, 1200 Pennsylvania Ave. NW., Washington, DC 20460–0001; telephone number: (703) 305–5454; email address: smoot.cameo@epa.gov. SUPPLEMENTARY INFORMATION: ADDRESSES: I. What action is EPA taking? Section 25(a)(2)(A) of FIFRA requires the EPA Administrator to provide the Secretary of USDA with a copy of any draft proposed rule at least 60 days before signing it in proposed form for publication in the Federal Register. The draft proposed rule is not available to the public until after it has been signed by EPA. If the Secretary of USDA comments in writing regarding the draft proposed rule within 30 days after receiving it, the EPA Administrator shall include the comments of the Secretary of USDA and the EPA Administrator’s response to those comments with the proposed rule that publishes in the Federal Register. If the Secretary of USDA does not comment in writing within 30 days after receiving the draft proposed rule, the EPA Administrator may sign the proposed rule for publication in the Federal Register any time after the 30-day period. rmajette on DSK2TPTVN1PROD with PROPOSALS II. Do any statutory and executive order reviews apply to this notification? No. This document is merely a notification of submission to the Secretary of USDA. As such, none of the regulatory assessment requirements apply to this document. List of Subjects in Part 40 CFR Parts 152, 162 and 166 Environmental protection, Pesticides, Registration. VerDate Sep<11>2014 14:52 Aug 03, 2016 Jkt 238001 Dated: July 26, 2016. Jack E. Housenger, Director, Office of Pesticide Programs. [FR Doc. 2016–18393 Filed 8–3–16; 8:45 am] BILLING CODE 6560–50–P DEPARTMENT OF COMMERCE National Oceanic and Atmospheric Administration 50 CFR Chapters II, III, IV, V, and VI RIN 0648–XE742 Plan for Periodic Review of Regulations National Marine Fisheries Service (NMFS), National Oceanic and Atmospheric Administration (NOAA), Commerce. ACTION: Notice of regulatory review; request for comments. AGENCY: the comment period, may not be considered. All comments received are a part of the public record and will generally be posted for public viewing on www.regulations.gov without change. All personal identifying information (e.g., name, address, etc.) submitted voluntarily by the sender will be publicly accessible. Do not submit confidential business information, or otherwise sensitive or protected information. NMFS will accept anonymous comments (enter ‘‘N/A’’ in the required fields if you wish to remain anonymous). FOR FURTHER INFORMATION CONTACT: Tara Scott, (301) 427–8579. SUPPLEMENTARY INFORMATION: Background The RFA, 5 U.S.C. 601 et seq., requires that Federal agencies take into account how their regulations affect ‘‘small entities,’’ including small businesses, small Governmental SUMMARY: The Regulatory Flexibility Act jurisdictions and small organizations. (RFA) requires that NMFS periodically For regulations proposed after January review existing regulations that have a 1, 1981, the agency must either prepare significant economic impact on a a Regulatory Flexibility Analysis or substantial number of small entities, certify that the regulation, if such as small businesses, small promulgated, will not have a significant organizations, and small governmental economic impact on a substantial jurisdictions. This plan describes how number of small entities. Section 602 of NMFS will perform this review and the RFA requires that NMFS issue an describes the regulations that are being Agenda of Regulations identifying rules proposed for review during the current the Agency is developing that are likely review cycle. to have a significant economic impact DATES: Written comments must be on a substantial number of small received by NMFS by September 6, entities. 2016. Section 610 of the RFA requires Federal agencies to review existing ADDRESSES: You may submit comments on this document, identified by NOAA– regulations. It requires that NMFS publish a plan in the Federal Register NMFS–2016–0099, by any of the explaining how it will review its following methods: existing regulations which have or will • Electronic Submission: Submit all have a significant economic impact on electronic public comments via the a substantial number of small entities. Federal e-Rulemaking Portal. Go to Regulations that become effective after https://www.regulations.gov/ January 1, 1981, must be reviewed #!docketDetail;D=NOAA-NMFS-2016within 10 years of the publication date 0099, click the ‘‘Comment Now!’’ icon, of the final rule. Section 610(c) requires complete the required fields, and enter that NMFS annually publish a list of or attach your comments. • Mail: Submit written comments to final rules it will review during the Tara Scott, National Marine Fisheries succeeding 12 months in the Federal Service, NOAA, Office of Sustainable Register. The list must describe, explain Fisheries, 1315 East-West Highway, the need for, and provide the legal basis Silver Spring, MD 20910 (mark outside for the rule, as well as invite public of envelope ‘‘Comments on 610 comment on the rule. Review’’). Criteria for Review of Existing • Fax: 301–713–1193; Attn: Tara Regulations Scott. The purpose of the review is to Instructions: Comments must be determine whether existing rules should submitted by one of the above methods be left unchanged, or whether they to ensure that the comments are should be revised or rescinded in order received, documented, and considered to minimize significant economic by NMFS. Comments sent by any other impacts on a substantial number of method, to any other address or small entities, consistent with the individual, or received after the end of PO 00000 Frm 00046 Fmt 4702 Sfmt 4702 E:\FR\FM\04AUP1.SGM 04AUP1

Agencies

ENVIRONMENTAL PROTECTION AGENCY

[Federal Register Volume 81, Number 150 (Thursday, August 4, 2016)]
[Proposed Rules]
[Pages 51425-51426]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-18393]


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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Parts 152, 162, and 166

[EPA-HQ-OPP-2016-0103; FRL-9943-09]
RIN 2070-AK06


Notification of Submission to the Secretary of Agriculture; 
Procedural Rule Amendment; Required Use of Federal Register Notices

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notification of submission to the Secretary of Agriculture.

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

SUMMARY: This document notifies the public as required by the Federal 
Insecticide, Fungicide, and Rodenticide Act (FIFRA) that the EPA 
Administrator has forwarded to the Secretary of the United States 
Department of Agriculture (USDA) a draft regulatory document concerning 
a Procedural Rule Amendment; Required Use of FR Notices. The draft 
regulatory document is not available to the public until after it has 
been signed and made available by EPA.

DATES: See Unit I. under SUPPLEMENTARY INFORMATION.

[[Page 51426]]


ADDRESSES: The docket for this action, identified by docket 
identification (ID) number EPA-HQ-OPP-2016-0103, is available at https://www.regulations.gov or at the Office of Pesticide Programs Regulatory 
Docket (OPP Docket) in the Environmental Protection Agency Docket 
Center (EPA/DC), West William Jefferson Clinton Bldg., Rm. 3334, 1301 
Constitution Ave. NW., Washington, DC 20460-0001. The Public Reading 
Room is open from 8:30 a.m. to 4:30 p.m., Monday through Friday, 
excluding legal holidays. The telephone number for the Public Reading 
Room is (202) 566-1744, and the telephone number for the OPP Docket is 
(703) 305-5805. Please review the visitor instructions and additional 
information about the docket available at https://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT: Cameo G. Smoot, Field and External 
Affairs Division (7506P), Office of Pesticide Programs, Environmental 
Protection Agency, 1200 Pennsylvania Ave. NW., Washington, DC 20460-
0001; telephone number: (703) 305-5454; email address: 
smoot.cameo@epa.gov.

SUPPLEMENTARY INFORMATION: 

I. What action is EPA taking?

    Section 25(a)(2)(A) of FIFRA requires the EPA Administrator to 
provide the Secretary of USDA with a copy of any draft proposed rule at 
least 60 days before signing it in proposed form for publication in the 
Federal Register. The draft proposed rule is not available to the 
public until after it has been signed by EPA. If the Secretary of USDA 
comments in writing regarding the draft proposed rule within 30 days 
after receiving it, the EPA Administrator shall include the comments of 
the Secretary of USDA and the EPA Administrator's response to those 
comments with the proposed rule that publishes in the Federal Register. 
If the Secretary of USDA does not comment in writing within 30 days 
after receiving the draft proposed rule, the EPA Administrator may sign 
the proposed rule for publication in the Federal Register any time 
after the 30-day period.

II. Do any statutory and executive order reviews apply to this 
notification?

    No. This document is merely a notification of submission to the 
Secretary of USDA. As such, none of the regulatory assessment 
requirements apply to this document.

List of Subjects in Part 40 CFR Parts 152, 162 and 166

    Environmental protection, Pesticides, Registration.

    Dated: July 26, 2016.
Jack E. Housenger,
Director, Office of Pesticide Programs.
[FR Doc. 2016-18393 Filed 8-3-16; 8:45 am]
 BILLING CODE 6560-50-P

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