Income Taxes, 24661 [2018-11690]
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Federal Register / Vol. 83, No. 104 / Wednesday, May 30, 2018 / Rules and Regulations
for rehearing is denied, as discussed in
the body of this order.
By the Commission.
Issued: May 17, 2018.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2018–11537 Filed 5–29–18; 8:45 am]
BILLING CODE 6717–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
Income Taxes
CFR Correction
In Title 26 of the Code of Federal
Regulations, Part 1 (§§ 1.140 to 1.169),
revised as of April 1, 2018, on page 88,
in § 1.148–1, paragraph (e)(3) is
reinstated to read as follows:
■
§ 1.148–1
Definitions and elections.
*
*
*
*
*
(e) * * *
(3) Certain hedges. Investment-type
property also includes the investment
element of a contract that is a hedge
(within the meaning of § 1.148–
4(h)(2)(i)(A)) and that contains a
significant investment element because
a payment by the issuer relates to a
conditional or unconditional obligation
by the hedge provider to make a
payment on a later date. See § 1.148–
4(h)(2)(ii) relating to hedges with a
significant investment element.
*
*
*
*
*
[FR Doc. 2018–11690 Filed 5–29–18; 8:45 am]
BILLING CODE 1301–00–D
ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 52
sradovich on DSK3GMQ082PROD with RULES
Approval and Promulgation of Air
Quality Implementation Plans; New
Jersey; Infrastructure Requirements
for the 2008 Lead, 2008 Ozone, 2010
Nitrogen Dioxide, 2010 Sulfur Dioxide,
2011 Carbon Monoxide, 2006 PM10,
2012 PM2.5, 1997 Ozone, and the 1997
and 2006 PM2.5 National Ambient Air
Quality Standards
Environmental Protection
Agency (EPA).
ACTION: Final rule.
AGENCY:
The Environmental Protection
Agency (EPA) is approving elements of
VerDate Sep<11>2014
19:27 May 29, 2018
Jkt 244001
FOR FURTHER INFORMATION CONTACT:
Anthony (Ted) Gardella, Environmental
Protection Agency, 290 Broadway, New
York, New York 10007–1866, at (212)
637–3892, or by email at
Gardella.Anthony@epa.gov.
SUPPLEMENTARY INFORMATION: The
SUPPLEMENTARY INFORMATION section is
arranged as follows:
Table of Contents
[EPA–R02–OAR–2016–0625, FRL–9978–
24—Region 2]
SUMMARY:
New Jersey’s State Implementation Plan
(SIP) revision submittal regarding the
infrastructure requirements of section
110(a)(1) and (2) of the Clean Air Act
(CAA) for the 2008 lead, 2008 ozone,
2010 nitrogen dioxide, 2010 sulfur
dioxide, 2011 carbon monoxide, 2006
particulate matter of 10 microns or less
(PM10), and 2012 particulate matter of
2.5 microns or less (PM2.5) National
Ambient Air Quality Standards
(NAAQS). The EPA is also approving
three infrastructure requirements of the
1997 ozone and the 1997 and 2006
PM2.5 NAAQS. The infrastructure
requirements are designed to ensure that
the structural components of each
state’s air quality management program
are adequate to meet the state’s
responsibilities under the CAA.
DATES: This final rule is effective on
June 29, 2018.
ADDRESSES: The EPA has established a
docket for this action under Docket ID
Number EPA–R02–OAR–2016–0625. All
documents in the docket are listed on
the https://www.regulations.gov website.
Although listed in the index, some
information is not publicly available,
e.g., Confidential Business Information
(CBI) or other information whose
disclosure is restricted by statute.
Certain other material, such as
copyrighted material, is not placed on
the internet and will be publicly
available only in hard copy form.
Publicly available docket materials are
available electronically through https://
www.regulations.gov.
I. What is the background for this action?
II. What comments were received in response
to the EPA’s proposed action?
III. What action is the EPA taking?
IV. Incororation by Reference
V. Statutory and Executive Order Reviews
I. What is the background for this
action?
Under sections 110(a)(1) and (2) of the
Clean Air Act (CAA), each state is
required to submit a State
Implementation Plan (SIP) that provides
for the implementation, maintenance,
and enforcement of a revised primary or
secondary National Ambient Air Quality
Standards (NAAQS or standard). CAA
sections 110(a)(1) and (2) require each
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24661
state to make a new SIP submission
within three years after the EPA
promulgates a new or revised NAAQS
for approval into the existing federallyapproved SIP to assure that the SIP
meets the applicable requirements for
such new and revised NAAQS.
On March 1, 2018 (83 FR 8818), the
EPA published a Notice of Proposed
Rulemaking (NPR) in the Federal
Register for the State of New Jersey. The
NPR proposed to approve elements of
the State of New Jersey’s Infrastructure
SIP submission, dated October 17, 2014,
and as supplemented on March 15,
2017, as meeting the CAA section 110(a)
infrastructure requirements for the
following NAAQS: 2008 ozone, 2008
lead, 2010 nitrogen dioxide (NO2), 2010
sulfur dioxide (SO2), 2011 carbon
monoxide (CO), 2006 particulate matter
of 10 microns or less (PM10), and 2012
particulate matter of 2.5 microns or less
(PM2.5). Although not specifically
required by 110(a)(1) since neither
NAAQS was new or revised,1 the SIP
submission included infrastructure
requirements for the 2006 PM10 and
2011 CO NAAQS. As explained in the
NPR, the State has the necessary
infrastructure, resources and general
authority to implement the 2008 ozone,
2008 lead, 2010 NO2, 2010 SO2, 2011
CO, 2006 PM10, and 2012 PM2.5 NAAQS,
except where specifically noted.
The EPA also proposed to approve
three CAA section 110(a) infrastructure
requirements for the 1997 ozone and the
1997 and 2006 PM2.5 NAAQS that were
conditionally approved by the EPA on
June 14, 2013 (78 FR 35764). New
Jersey’s response to the conditional
approval was not submitted to EPA
within one year, but was submitted
approximately three months late, and
supplemented on March 15, 2017, so the
conditional approval is treated as a
disapproval. The EPA also proposed to
approve New Jersey’s October 17, 2014
submittal, as supplemented on March
15, 2017, for the 1997 ozone and the
1997 and 2006 PM2.5 NAAQS.
Other detailed information relevant to
this action on New Jersey’s
infrastructure SIP submission, the
requirements of infrastructure SIPs and
the rationale for the EPA’s proposed
action are explained in the NPR and the
associated Technical Support Document
(TSD) in the docket and are not restated
here.
1 EPA notes that, when promulgated, the 2006 24
hour PM10 NAAQS and the 2011 primary CO
NAAQS were neither ‘‘new’’ nor ‘‘revised’’
NAAQS—they merely retained, without revision,
prior NAAQS for those pollutants. Accordingly,
promulgation of these NAAQS did not trigger a new
obligation for New Jersey to make infrastructure SIP
submissions.
E:\FR\FM\30MYR1.SGM
30MYR1
]]>Agencies
[Federal Register Volume 83, Number 104 (Wednesday, May 30, 2018)]
[Rules and Regulations]
[Page 24661]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-11690]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
Income Taxes
CFR Correction
0
In Title 26 of the Code of Federal Regulations, Part 1 (Sec. Sec.
1.140 to 1.169), revised as of April 1, 2018, on page 88, in Sec.
1.148-1, paragraph (e)(3) is reinstated to read as follows:
Sec. 1.148-1 Definitions and elections.
* * * * *
(e) * * *
(3) Certain hedges. Investment-type property also includes the
investment element of a contract that is a hedge (within the meaning of
Sec. 1.148-4(h)(2)(i)(A)) and that contains a significant investment
element because a payment by the issuer relates to a conditional or
unconditional obligation by the hedge provider to make a payment on a
later date. See Sec. 1.148-4(h)(2)(ii) relating to hedges with a
significant investment element.
* * * * *
[FR Doc. 2018-11690 Filed 5-29-18; 8:45 am]
BILLING CODE 1301-00-D
