Eliminating Unnecessary Regulations, 15095-15096 [2018-07102]

Download as PDF Federal Register / Vol. 83, No. 68 / Monday, April 9, 2018 / Proposed Rules (13) Proceed north along State Highway 30A, crossing over the Mohawk River, to the highway’s intersection with State Highway 5 in Fonda; then (14) Proceed east along State Highway 5 to its intersection with State Highway 67 in Amsterdam; then (15) Proceed east along State Highway 67 to its intersection with an unnamed light-duty road known locally as Morrow Road; then (16) Proceed northeast in a straight line, crossing over the southeastern corner of the Gloversville map and onto the Glens Falls map, to the point where Daly Creek empties into Great Sacandaga Lake; then (17) Proceed northeast, then east along the southern shore of Great Sacandaga Lake to its confluence with the Hudson River in the town of Lake Luzerne; then (18) Proceed south, then easterly along the southern bank of the Hudson River to its intersection with U.S. Highway 9 in South Glens Falls; then (19) Proceed northwest along U.S. Highway 9, crossing the Hudson River, and returning to the beginning point. Signed: November 30, 2017. John J. Manfreda Administrator. Approved: March 30, 2018. Timothy E. Skud Deputy Assistant Secretary, (Tax, Trade, and Tariff Policy). [FR Doc. 2018–07210 Filed 4–6–18; 8:45 am] BILLING CODE 4810–31–P DEPARTMENT OF THE TREASURY 31 CFR Parts 30 and 32 Eliminating Unnecessary Regulations Departmental Offices, Treasury. Notice of proposed rulemaking. AGENCY: ACTION: Pursuant to the policies stated in Executive Order 13777 (the executive order), the Treasury Department conducted a review of existing regulations, with the goal of reducing regulatory burden by revoking or revising existing regulations that meet the criteria set forth in the executive order. This notice of proposed rulemaking proposes to streamline our regulations by removing one regulation that is no longer necessary because it does not have any current or future applicability, and by amending one regulation to remove portions that no longer have any current or future applicability. sradovich on DSK3GMQ082PROD with PROPOSALS SUMMARY: DATES: Comment due date: June 8, 2018. VerDate Sep<11>2014 16:17 Apr 06, 2018 Jkt 244001 Submit comments electronically through the Federal eRulemaking Portal: http:// www.regulations.gov, or by mail to: The Treasury Department, Attn: Office of the Assistant General Counsel for Banking and Finance, 1500 Pennsylvania Avenue NW, Washington, DC 20220. Because paper mail in the Washington, DC area may be subject to delay, it is recommended that comments be submitted electronically. Please include your name, affiliation, address, email address, and telephone number in your comment. Comments will be available for public inspection on www.regulations.gov. In general, comments received, including attachments and other supporting materials, are part of the public record and are available to the public. Do not submit any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. FOR FURTHER INFORMATION CONTACT: Laurie Adams, Office of the Assistant General Counsel for Banking and Finance at (202) 927–8727 or laurie.adams@treasury.gov. SUPPLEMENTARY INFORMATION: ADDRESSES: Background On February 24, 2017, the President issued Executive Order 13777, Enforcing the Regulatory Reform Agenda (82 FR 12285). E.O. 13777 directed each agency to establish a Regulatory Reform Task Force. Each Regulatory Reform Task Force was directed to review existing regulations for regulations that: (i) Eliminate jobs, or inhibit job creation; (ii) are outdated, unnecessary, or ineffective; (iii) impose costs that exceed benefits; (iv) create a serious inconsistency or otherwise interfere with regulatory reform initiatives and policies; (v) are inconsistent with the requirements of the Information Quality Act (section 515 of the Treasury and General Government Appropriations Act of 2001) or OMB Information Quality Guidance issued pursuant to that provision; or (vi) derive from or implement Executive Orders or other Presidential directives that have been subsequently rescinded or substantially modified. This notice of proposed rulemaking proposes to remove one regulation and portions of a second regulation that have no current or future applicability and, therefore, no longer provide useful guidance. Removing these regulations from the Code of Federal Regulations will streamline Title 31, Money and Finance: Treasury; and increase clarity PO 00000 Frm 00014 Fmt 4702 Sfmt 4702 15095 of the law. These regulations are proposed to be removed from the Code of Federal Regulations solely because the regulations are outdated and unnecessary. Explanation of Provisions The regulations, or portions of regulations, proposed to be removed relate to components of Treasury programs that are no longer in existence. They are: TARP Standards for Compensation and Corporate Governance, 31 CFR part 30. The regulations in 31 CFR part 30 set forth standards for the compensation of executives of companies that received capital from Treasury as part of the Troubled Asset Relief Program (TARP) developed under the Emergency Economic Stabilization Act of 2008 (EESA) (12 U.S.C. 5201 et seq.). Portions of this rule relate to ‘‘exceptional financial assistance’’ that was provided to some of the largest financial institutions in the United States under programs specifically created for those institutions. Other portions of the rule established and provided authority to the Office of the Special Master for TARP Executive Compensation (Special Master). The Special Master was given authority to approve certain payments to employees of TARP recipients receiving exceptional financial assistance, review payments to employees made prior to February 17, 2009, and issue advisory opinions on compensation to TARP recipients. The TARP program has largely wound down and there are no recipients of exceptional financial assistance left in the TARP program. Additionally, the Special Master had the opportunity to review compensation made prior to February 17, 2009. Given the absence of exceptional financial assistance entities and the current status of the TARP program, the Office of the Special Master for TARP Executive Compensation no longer has any employees. Thus, Treasury proposes that Section 30.16 of 31 CFR part 30 be removed. Payments in Lieu of Low Income Housing Tax Credits (31 CFR Part 32) The regulation in 31 CFR part 32 sets forth Treasury’s policy regarding the time limitation within which State housing credit agencies must disburse funds received under section 1602 of the American Recovery and Reinvestment Tax Act of 2009. This rule allowed States to disburse section 1602 funds to subawardees through December 31, 2011 under certain conditions. Treasury no longer awards section 1602 funds to State housing credit E:\FR\FM\09APP1.SGM 09APP1 15096 Federal Register / Vol. 83, No. 68 / Monday, April 9, 2018 / Proposed Rules agencies. Thus, Treasury proposes to remove 31 CFR part 32 because no State housing credit agencies hold section 1602 funds and because the time period for disbursement of section 1602 funds to subawardees has expired. DEPARTMENT OF HOMELAND SECURITY Procedural Matters [Docket Number USCG–2017–1054] This proposed rule is not a significant regulatory action under Executive Order 12866. Therefore, a regulatory assessment is not required. The undersigned certifies that this proposed rule, if adopted, would not have a significant economic impact on a substantial number of small entities. This certification is based on the fact that this rule would remove outdated and unnecessary regulations and therefore would have no economic impact on any small entities. Accordingly, an analysis under the Regulatory Flexibility Act (5 U.S.C. chapter 6) is not required. Notwithstanding this certification, the Department invites comments on any impact this rule would have on small entities. RIN 1625–AA08 List of Subjects 31 CFR Part 30 Securities. 31 CFR Part 32 Housing, taxes. Proposed Amendments to the Regulations For the reasons stated in the preamble, 31 CFR parts 30 and 32 are proposed to be amended as follows: PART 30—[AMENDED] 1. The authority citation for part 30 continues to read as follows: ■ Authority: 12 U.S.C. 5221; 31 U.S.C. 321. § 30.16 ■ [Removed] 2. Section 30.16 is removed. PART 32—PAYMENTS IN LIEU OF LOW INCOME HOUSING TAX CREDITS [REMOVED] sradovich on DSK3GMQ082PROD with PROPOSALS ■ 3. Part 32 is removed. [FR Doc. 2018–07102 Filed 4–6–18; 8:45 am] BILLING CODE 4810–25–P 16:17 Apr 06, 2018 33 CFR Part 100 Special Local Regulation; Chesapeake Bay, between Sandy Point and Kent Island, MD Coast Guard, DHS. Supplemental notice of proposed rulemaking; reopening of public comment period. AGENCY: ACTION: The Coast Guard proposes to amend its notice of proposed rulemaking and reopen the public comment period for a special local regulation for certain waters of the Chesapeake Bay between Sandy Point, Anne Arundel County, MD and Kent Island, Queen Anne’s County, MD, during the Bay Bridge Paddle on June 2, 2018 (rain date of June 3, 2018) published in the Federal Register on January 12, 2018. This proposed rulemaking would prohibit persons and vessels from being in the regulated area unless authorized by the Captain of the Port Maryland-National Capital Region or Coast Guard Patrol Commander. DATES: Comments and related material must be received by the Coast Guard on or before May 9, 2018. ADDRESSES: You may submit comments identified by docket number USCG– 2017–1054 using the Federal eRulemaking Portal at http:// www.regulations.gov. See the ‘‘Public Participation and Request for Comments’’ portion of the SUPPLEMENTARY INFORMATION section for further instructions on submitting comments. SUMMARY: If you have questions about this proposed rulemaking, call or email Mr. Ronald Houck, U.S. Coast Guard Sector Maryland-National Capital Region; telephone 410–576–2674, email Ronald.L.Houck@uscg.mil. SUPPLEMENTARY INFORMATION: FOR FURTHER INFORMATION CONTACT: I. Table of Abbreviations Ryan Brady, Executive Secretary. VerDate Sep<11>2014 Coast Guard Jkt 244001 CFR Code of Federal Regulations COTP Captain of the Port DHS Department of Homeland Security FR Federal Register NPRM Notice of proposed rulemaking SNPRM Supplemental notice of proposed rulemaking § Section U.S.C. United States Code PO 00000 Frm 00015 Fmt 4702 Sfmt 4702 II. Background, Purpose, and Legal Basis The Coast Guard published a Notice of Proposed Rulemaking on January 12, 2018 (83 FR 1597), proposing to establish a special local regulation for the Bay Bridge Paddle, on June 2, 2018 (rain date of June 3, 2018). The comment period closed February 12, 2018. The Coast Guard received one comment on the original request for comments. Subsequent to the Coast Guard publishing the notice of proposed rulemaking, ABC Events, Inc., notified the Coast Guard that as a result of a meeting with the bridge authority a change of the elite paddler race course location is necessary. We are issuing this supplemental proposal to amend the proposed special local regulation to increase the size of the paddle race area, and reopen the comment period to account for this change. The Coast Guard will accept and review any comments received between the close of the comment period and the publication of this supplemental notice of proposed rulemaking. The purpose of this rulemaking is to protect event participants, spectators and transiting vessels on certain waters of the Chesapeake Bay before, during, and after the scheduled event. The Coast Guard proposes this rulemaking under authority in 33 U.S.C. 1233, which authorizes the Coast Guard to establish and define special local regulations. III. Discussion of Proposed Rule This proposed rule would create a temporary special local regulation on certain waters of the Chesapeake Bay for the Bay Bridge Paddle. This special local regulation would expand the proposed regulated area northward of the north bridge (westbound span) of the William P. Lane, Jr. (US–50/301) Memorial Bridges from that area described in the original published notice of proposed rulemaking. Bridge rehabilitation work along the eastern portion of the north bridge (westbound span) of the William P. Lane, Jr. (US– 50/301) Memorial Bridges includes the placement of barges and other marine equipment in the waterway. Allowing the proposed paddling event to proceed along its original race course would adversely affect both the bridge work activities and event participants. The expanded area allows the event planner an alternative to mitigate the risk posed to event participants by altering the race course northward of that area. The revised proposed regulated area would cover all navigable waters of the Chesapeake Bay, adjacent to the E:\FR\FM\09APP1.SGM 09APP1

Agencies

[Federal Register Volume 83, Number 68 (Monday, April 9, 2018)]
[Proposed Rules]
[Pages 15095-15096]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-07102]


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DEPARTMENT OF THE TREASURY

31 CFR Parts 30 and 32


Eliminating Unnecessary Regulations

AGENCY: Departmental Offices, Treasury.

ACTION: Notice of proposed rulemaking.

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

SUMMARY: Pursuant to the policies stated in Executive Order 13777 (the 
executive order), the Treasury Department conducted a review of 
existing regulations, with the goal of reducing regulatory burden by 
revoking or revising existing regulations that meet the criteria set 
forth in the executive order. This notice of proposed rulemaking 
proposes to streamline our regulations by removing one regulation that 
is no longer necessary because it does not have any current or future 
applicability, and by amending one regulation to remove portions that 
no longer have any current or future applicability.

DATES: Comment due date: June 8, 2018.

ADDRESSES: Submit comments electronically through the Federal 
eRulemaking Portal: http://www.regulations.gov, or by mail to: The 
Treasury Department, Attn: Office of the Assistant General Counsel for 
Banking and Finance, 1500 Pennsylvania Avenue NW, Washington, DC 20220. 
Because paper mail in the Washington, DC area may be subject to delay, 
it is recommended that comments be submitted electronically. Please 
include your name, affiliation, address, email address, and telephone 
number in your comment. Comments will be available for public 
inspection on www.regulations.gov. In general, comments received, 
including attachments and other supporting materials, are part of the 
public record and are available to the public. Do not submit any 
information in your comment or supporting materials that you consider 
confidential or inappropriate for public disclosure.

FOR FURTHER INFORMATION CONTACT: Laurie Adams, Office of the Assistant 
General Counsel for Banking and Finance at (202) 927-8727 or 
[email protected].

SUPPLEMENTARY INFORMATION: 

Background

    On February 24, 2017, the President issued Executive Order 13777, 
Enforcing the Regulatory Reform Agenda (82 FR 12285). E.O. 13777 
directed each agency to establish a Regulatory Reform Task Force. Each 
Regulatory Reform Task Force was directed to review existing 
regulations for regulations that: (i) Eliminate jobs, or inhibit job 
creation; (ii) are outdated, unnecessary, or ineffective; (iii) impose 
costs that exceed benefits; (iv) create a serious inconsistency or 
otherwise interfere with regulatory reform initiatives and policies; 
(v) are inconsistent with the requirements of the Information Quality 
Act (section 515 of the Treasury and General Government Appropriations 
Act of 2001) or OMB Information Quality Guidance issued pursuant to 
that provision; or (vi) derive from or implement Executive Orders or 
other Presidential directives that have been subsequently rescinded or 
substantially modified.
    This notice of proposed rulemaking proposes to remove one 
regulation and portions of a second regulation that have no current or 
future applicability and, therefore, no longer provide useful guidance. 
Removing these regulations from the Code of Federal Regulations will 
streamline Title 31, Money and Finance: Treasury; and increase clarity 
of the law. These regulations are proposed to be removed from the Code 
of Federal Regulations solely because the regulations are outdated and 
unnecessary.

Explanation of Provisions

    The regulations, or portions of regulations, proposed to be removed 
relate to components of Treasury programs that are no longer in 
existence. They are: TARP Standards for Compensation and Corporate 
Governance, 31 CFR part 30. The regulations in 31 CFR part 30 set forth 
standards for the compensation of executives of companies that received 
capital from Treasury as part of the Troubled Asset Relief Program 
(TARP) developed under the Emergency Economic Stabilization Act of 2008 
(EESA) (12 U.S.C. 5201 et seq.). Portions of this rule relate to 
``exceptional financial assistance'' that was provided to some of the 
largest financial institutions in the United States under programs 
specifically created for those institutions. Other portions of the rule 
established and provided authority to the Office of the Special Master 
for TARP Executive Compensation (Special Master). The Special Master 
was given authority to approve certain payments to employees of TARP 
recipients receiving exceptional financial assistance, review payments 
to employees made prior to February 17, 2009, and issue advisory 
opinions on compensation to TARP recipients.
    The TARP program has largely wound down and there are no recipients 
of exceptional financial assistance left in the TARP program. 
Additionally, the Special Master had the opportunity to review 
compensation made prior to February 17, 2009. Given the absence of 
exceptional financial assistance entities and the current status of the 
TARP program, the Office of the Special Master for TARP Executive 
Compensation no longer has any employees. Thus, Treasury proposes that 
Section 30.16 of 31 CFR part 30 be removed.

Payments in Lieu of Low Income Housing Tax Credits (31 CFR Part 32)

    The regulation in 31 CFR part 32 sets forth Treasury's policy 
regarding the time limitation within which State housing credit 
agencies must disburse funds received under section 1602 of the 
American Recovery and Reinvestment Tax Act of 2009. This rule allowed 
States to disburse section 1602 funds to subawardees through December 
31, 2011 under certain conditions.
    Treasury no longer awards section 1602 funds to State housing 
credit

[[Page 15096]]

agencies. Thus, Treasury proposes to remove 31 CFR part 32 because no 
State housing credit agencies hold section 1602 funds and because the 
time period for disbursement of section 1602 funds to subawardees has 
expired.

Procedural Matters

    This proposed rule is not a significant regulatory action under 
Executive Order 12866. Therefore, a regulatory assessment is not 
required. The undersigned certifies that this proposed rule, if 
adopted, would not have a significant economic impact on a substantial 
number of small entities. This certification is based on the fact that 
this rule would remove outdated and unnecessary regulations and 
therefore would have no economic impact on any small entities. 
Accordingly, an analysis under the Regulatory Flexibility Act (5 U.S.C. 
chapter 6) is not required. Notwithstanding this certification, the 
Department invites comments on any impact this rule would have on small 
entities.

List of Subjects

31 CFR Part 30

    Securities.

31 CFR Part 32

    Housing, taxes.

Proposed Amendments to the Regulations

    For the reasons stated in the preamble, 31 CFR parts 30 and 32 are 
proposed to be amended as follows:

PART 30--[AMENDED]

0
1. The authority citation for part 30 continues to read as follows:

    Authority:  12 U.S.C. 5221; 31 U.S.C. 321.


Sec.  30.16  [Removed]

0
2. Section 30.16 is removed.

PART 32--PAYMENTS IN LIEU OF LOW INCOME HOUSING TAX CREDITS 
[REMOVED]

0
3. Part 32 is removed.

Ryan Brady,
Executive Secretary.
[FR Doc. 2018-07102 Filed 4-6-18; 8:45 am]
 BILLING CODE 4810-25-P