Accounting and Periodic Reporting Rules, 23503-23504 [2019-10558]

Download as PDF Federal Register / Vol. 84, No. 99 / Wednesday, May 22, 2019 / Proposed Rules 23503 DOCUMENTS RELATED TO APR1400 DESIGN CERTIFICATION RULE—Continued ADAMS Accession No./web link/ Federal Register citation Document APR1400–Z–A–NR–14011–NP, Criticality Analysis of New and Spent Fuel Storage Racks, Rev. 3 (May 2018) .............. APR1400–Z–A–NR–14019–NP, CCF Coping Analysis, Rev. 3 (July 2018) ......................................................................... APR1400–Z–J–NR–14001–NP, Safety I&C System, Rev. 3 (May 2018) ............................................................................. APR1400–Z–J–NR–14002–NP, Diversity and Defense-in-Depth, Rev. 3 (May 2018) ......................................................... APR1400–Z–J–NR–14003–NP, Software Program Manual, Rev. 3 (May 2018) ................................................................. APR1400–Z–J–NR–14004–NP, Uncertainty Methodology and Application for Instrumentation, Rev. 2 (January 2018) .... APR1400–Z–J–NR–14005–NP, Setpoint Methodology for Safety-Related Instrumentation, Rev. 2 (January 2018) .......... APR1400–Z–J–NR–14012–NP, Control System CCF Analysis, Rev. 3 (May 2018) ............................................................ APR1400–Z–J–NR–14013–NP, Response Time Analysis of Safety I&C System, Rev. 2 (January 2018) .......................... APR1400–Z–M–NR–14008–NP, Pressure-Temperature Limits Methodology for RCS Heatup and Cooldown, Rev. 1 (January 2018) .................................................................................................................................................................... APR1400–Z–M–TR–12003–NP–A, Fluidic Device Design for the APR1400 (April 2017) .................................................... Westinghouse Topical and Technical Report: WCAP–10697–NP–A, Common Qualified Platform Topical Report, Rev. 3 (February 2013) .............................................. WCAP–17889–NP (APR1400–A–N–NR–17001–NP), Validation of SCALE 6.1.2 with 238-Group ENDF/B–VII.0 Cross Section Library for APR1400 Design Certification, Rev. 0 (June 2014) ............................................................................ Combustion Engineering, Inc. Technical Reports: CEN–312–NP, Overview Description of the Core Operating Limit Supervisory System (COLSS), Rev. 01–NP (November 1986) ............................................................................................................................................................................. CEN–310–NP–A, CPC and Methodology Changes for the CPC Improvement Program (April 1986) ................................. ML18214A561 ML18225A340 ML18212A341 ML18214A557 ML18214A559 ML18086B757 ML18087A106 ML18212A343 ML18087A110 ML18087A112 ML17129A597 ML13112A108 ML18044B051 ML19066A067 ML19066A085 1 The regulatory history of the NRC’s design certification reviews is a package of documents that is available in the NRC’s PDR and NRC Library. This history spans the period during which the NRC simultaneously developed the regulatory standards for reviewing these designs and the form and content of the rules that certified the designs. The NRC may post materials related to this document, including public comments, on the Federal Rulemaking website at https://www.regulations.gov under Docket ID NRC–2015–0224. The Federal Rulemaking website allows you to receive alerts when changes or additions occur in a docket folder. To subscribe: (1) Navigate to the docket folder (NRC–2015–0224); (2) click the ‘‘Sign up for Email Alerts’’ link; and (3) enter your email address and select how frequently you would like to receive emails (daily, weekly, or monthly). List of Subjects in 10 CFR Part 52 jbell on DSK3GLQ082PROD with PROPOSALS Administrative practice and procedure, Antitrust, Combined license, Early site permit, Emergency planning, Fees, Incorporation by reference, Inspection, Issue finality, Limited work authorization, Nuclear power plants and reactors, Probabilistic risk assessment, Prototype, Reactor siting criteria, Redress of site, Penalties, Reporting and recordkeeping requirements, Standard design, Standard design certification. Dated at Rockville, Maryland, this 17th day of May 2019. For the Nuclear Regulatory Commission. Annette Vietti-Cook, Secretary of the Commission. [FR Doc. 2019–10716 Filed 5–21–19; 8:45 am] 18:00 May 21, 2019 Table of Contents 39 CFR Part 3060 I. Background II. Basis and Purpose of Proposed Rules III. Proposed Rules [Docket No. RM2019–5; Order No. 5097] Accounting and Periodic Reporting Rules Postal Regulatory Commission. ACTION: Proposed rulemaking. AGENCY: The Commission is proposing an amendment to its rules involving the calculation of the assumed Federal income tax on competitive products by the Postal Service each fiscal year. The Commission invites public comment on the proposed revisions. DATES: Comments are due: June 21, 2019. SUMMARY: For additional information, Order No.5097 can be accessed electronically through the Commission’s website at https://www.prc.gov. Submit comments electronically via the Commission’s Filing Online system at http://www.prc.gov. Those who cannot submit comments electronically should contact the person identified in the FOR FURTHER INFORMATION CONTACT section by telephone for advice on filing alternatives. ADDRESSES: FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 202–789–6820. SUPPLEMENTARY INFORMATION: BILLING CODE 7590–01–P VerDate Sep<11>2014 POSTAL REGULATORY COMMISSION Jkt 247001 PO 00000 Frm 00004 Fmt 4702 Sfmt 4702 I. Background The Commission initiated this proceeding to amend its regulations governing the assumed Federal income tax on competitive product income appearing in existing 39 CFR part 3060. The proposed amendments would revise regulations concerning the annual assumed Federal income tax calculation for competitive products to reflect changes to the Internal Revenue Code made by the Tax Cuts and Jobs Act and to remove other obsolete provisions.1 The Commission sought comments from interested parties on whether it should update its regulations to reflect the changes and simplify the existing regulations. II. Basis and Purpose of Proposed Rules Section 3634(b) of title 39 of the United States Code requires the Postal Service to calculate the assumed Federal income tax on its competitive products income each year and transfer the amount of the assumed tax from the Competitive Products Fund to the Postal Service Fund. As required by 39 U.S.C. 2011(h)(2)(B)(ii), on December 18, 2008, the Commission issued the substantive 1 See Tax Cuts and Jobs Act, Public Law 115–97, 131 Stat. 2054 (2017) (Tax Cuts and Jobs Act). E:\FR\FM\22MYP1.SGM 22MYP1 23504 Federal Register / Vol. 84, No. 99 / Wednesday, May 22, 2019 / Proposed Rules jbell on DSK3GLQ082PROD with PROPOSALS and procedural rules for determining the assumed Federal income tax calculation, as codified in existing 39 CFR part 3060.2 In accordance with its specific authority under 39 U.S.C. 2011(h)(2)(B)(ii) and its general authority under 39 U.S.C. 503 to promulgate regulations and establish procedures, the Commission establishes this proceeding to consider two forms of amendments. First, the Commission proposes revisions to reflect changes made to the Internal Revenue Code after the Commission’s initial 2008 rulemaking that would affect the computation of the applicable tax rate for the assumed Federal income tax calculation. Second, the Commission proposes to remove obsolete provisions that authorized one-time extensions of time for the Postal Service to calculate and transfer the assumed Federal income tax for fiscal year 2008. A. Applicable Corporate Tax Rate The assumed taxable income from competitive products for a given year ‘‘refers to the amount representing what would be the taxable income of a corporation under the Internal Revenue Code of 1986 for the year[.]’’ 39 U.S.C. 3634(a)(2). Existing § 3060.40(a) requires the Postal Service’s calculation of the assumed Federal income tax on competitive product income to comply with chapter 1 of the Internal Revenue Code. Additionally, existing § 3060.40(a) specifies that the computation of the competitive products enterprise’s assumed tax liability use either the ‘‘regular’’ rates in section 11 or the Alternative Minimum Tax (AMT) rates in section 55(b)(1)(B) of the Internal Revenue Code, whichever might be applicable. Since the codification of existing § 3060.40(a), the Internal Revenue Code has undergone changes. Effective December 22, 2017, the AMT no longer applies to corporations. Tax Cuts and Jobs Act § 12001, 131 Stat. at 2092 (codified at 26 U.S.C. 55(a)). Therefore, it is no longer appropriate for the Postal Service to compute the tax liability at the AMT rate, as contemplated in existing § 3060.40(a). Rather than simply removing the cross-reference to the AMT, the Commission proposes replacing both specific cross-references to particular sections of chapter 1 of the Internal Revenue Code with a general instruction for the Postal Service to use the applicable tax rate for corporations. This would enable proposed § 3060.40(a) to stay current with any future changes to chapter 1 of the Internal Revenue Code affecting the tax rate for corporations. Moreover, this proposed approach would remain consistent with 39 U.S.C. 3634(a)(2). B. Obsolete One-time Extension Provisions The Commission published the existing regulations concerning the assumed Federal income tax calculation in December 2008 and they took effect in January 2009. Order No. 151 at 1, 21. Existing §§ 3060.40(c) and 3060.43(c) include a one-time extension for the Postal Service to submit the calculation and perform the annual transfer for FY 2008, extending both deadlines to July 15, 2009. Since the existing provisions concerning past extensions are outdated and unnecessary, the Commission proposes removing this material from existing §§ 3060.40(c) and 3060.43(c). The removal of these obsolete provisions would simplify the regulations. III. Proposed Rules Proposed § 3060.40(a). Proposed § 3060.40(a) replaces ‘‘section 11 (regular) or section 55(b)(1)(B) (Alternative Minimum Tax) tax rates, as applicable’’ with ‘‘applicable corporate tax rate.’’ Proposed § 3060.40(c). Proposed § 3060.40(c) deletes the phrase ‘‘except that a one-time extension of 6 months, until July 15, 2009, shall be permitted for the calculation of the assumed Federal income tax due for fiscal year end September 30, 2008.’’ Proposed § 3060.43(c). Proposed § 3060.43(c) removes the text of existing § 3060.43(c), in its entirety, and redesignates existing § 3060.43(d), and its text, as § 3060.43(c). List of Subjects in 39 CFR Part 3060 Administrative practice and procedure, Reporting and recordkeeping requirements. For the reasons stated in the preamble, the Commission proposes to amend 39 chapter III of title 39 of the Code of Federal Regulations as follows: PART 3060—ACCOUNTING PRACTICES AND TAX RULES FOR THE THEORETICAL COMPETITIVE PRODUCTS ENTERPRISE 1. The authority citation for part 3060 continues to read as follows: ■ Authority: 39 U.S.C. 503, 2011, 3633, 3634. 2 See Docket No. RM2008–5, Order Establishing Accounting Practices and Tax Rules for Competitive Products, December 18, 2008 (Order No. 151). VerDate Sep<11>2014 18:00 May 21, 2019 Jkt 247001 2. Amend § 3060.40, by revising paragraphs (a) and (c) to read as follows: ■ PO 00000 Frm 00005 Fmt 4702 Sfmt 4702 § 3060.40 Calculation of the assumed Federal income tax. (a) The assumed Federal income tax on competitive products income shall be based on the Postal Service theoretical competitive products enterprise income statement for the relevant year and must be calculated in compliance with chapter 1 of the Internal Revenue Code by computing the tax liability on the taxable income from the competitive products of the Postal Service theoretical competitive products enterprise at the applicable corporate tax rate. * * * * * (c) The calculation of the assumed Federal income tax due shall be submitted to the Commission no later than the January 15 following the close of the fiscal year referenced in paragraph (b) of this section. * * * * * § 3060.43 [Amended] 3. Amend § 3060.43, by removing paragraph (c) and redesignating paragraph (d) as paragraph (c). ■ By the Commission. Stacy L. Ruble, Secretary. [FR Doc. 2019–10558 Filed 5–21–19; 8:45 am] BILLING CODE 7710–FW–P ENVIRONMENTAL PROTECTION AGENCY 40 CFR Part 52 [EPA–R05–OAR–2017–0700; FRL–9993–63– Region 5] Air Plan Approval; Indiana; Regional Haze Plan and Prong 4 (Visibility) for the 2006 and 2012 PM2.5, 2010 NO2, 2010 SO2, and 2008 Ozone NAAQS Environmental Protection Agency (EPA). ACTION: Proposed rule. AGENCY: The Environmental Protection Agency (EPA) is proposing to take action under the Clean Air Act (CAA) on an Indiana’s November 27, 2017 State Implementation Plan (SIP) submittal addressing regional haze. This proposed action is based on EPA’s determination that a state’s implementation of the Cross-State Air Pollution Rule (CSAPR) program continues to meet the criteria of the Regional Haze Rule (RHR) to qualify as an alternative to the application of Best Available Retrofit Technology (BART). EPA is proposing several related actions. First, EPA is proposing to approve the portion of Indiana’s SUMMARY: E:\FR\FM\22MYP1.SGM 22MYP1

Agencies

[Federal Register Volume 84, Number 99 (Wednesday, May 22, 2019)]
[Proposed Rules]
[Pages 23503-23504]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-10558]


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POSTAL REGULATORY COMMISSION

39 CFR Part 3060

[Docket No. RM2019-5; Order No. 5097]


Accounting and Periodic Reporting Rules

AGENCY: Postal Regulatory Commission.

ACTION: Proposed rulemaking.

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SUMMARY: The Commission is proposing an amendment to its rules 
involving the calculation of the assumed Federal income tax on 
competitive products by the Postal Service each fiscal year. The 
Commission invites public comment on the proposed revisions.

DATES: Comments are due: June 21, 2019.

ADDRESSES: For additional information, Order No.5097 can be accessed 
electronically through the Commission's website at https://www.prc.gov. 
Submit comments electronically via the Commission's Filing Online 
system at http://www.prc.gov. Those who cannot submit comments 
electronically should contact the person identified in the FOR FURTHER 
INFORMATION CONTACT section by telephone for advice on filing 
alternatives.

FOR FURTHER INFORMATION CONTACT: David A. Trissell, General Counsel, at 
202-789-6820.

SUPPLEMENTARY INFORMATION: 

Table of Contents

I. Background
II. Basis and Purpose of Proposed Rules
III. Proposed Rules

I. Background

    The Commission initiated this proceeding to amend its regulations 
governing the assumed Federal income tax on competitive product income 
appearing in existing 39 CFR part 3060. The proposed amendments would 
revise regulations concerning the annual assumed Federal income tax 
calculation for competitive products to reflect changes to the Internal 
Revenue Code made by the Tax Cuts and Jobs Act and to remove other 
obsolete provisions.\1\ The Commission sought comments from interested 
parties on whether it should update its regulations to reflect the 
changes and simplify the existing regulations.
---------------------------------------------------------------------------

    \1\ See Tax Cuts and Jobs Act, Public Law 115-97, 131 Stat. 2054 
(2017) (Tax Cuts and Jobs Act).
---------------------------------------------------------------------------

II. Basis and Purpose of Proposed Rules

    Section 3634(b) of title 39 of the United States Code requires the 
Postal Service to calculate the assumed Federal income tax on its 
competitive products income each year and transfer the amount of the 
assumed tax from the Competitive Products Fund to the Postal Service 
Fund. As required by 39 U.S.C. 2011(h)(2)(B)(ii), on December 18, 2008, 
the Commission issued the substantive

[[Page 23504]]

and procedural rules for determining the assumed Federal income tax 
calculation, as codified in existing 39 CFR part 3060.\2\ In accordance 
with its specific authority under 39 U.S.C. 2011(h)(2)(B)(ii) and its 
general authority under 39 U.S.C. 503 to promulgate regulations and 
establish procedures, the Commission establishes this proceeding to 
consider two forms of amendments. First, the Commission proposes 
revisions to reflect changes made to the Internal Revenue Code after 
the Commission's initial 2008 rulemaking that would affect the 
computation of the applicable tax rate for the assumed Federal income 
tax calculation. Second, the Commission proposes to remove obsolete 
provisions that authorized one-time extensions of time for the Postal 
Service to calculate and transfer the assumed Federal income tax for 
fiscal year 2008.
---------------------------------------------------------------------------

    \2\ See Docket No. RM2008-5, Order Establishing Accounting 
Practices and Tax Rules for Competitive Products, December 18, 2008 
(Order No. 151).
---------------------------------------------------------------------------

A. Applicable Corporate Tax Rate

    The assumed taxable income from competitive products for a given 
year ``refers to the amount representing what would be the taxable 
income of a corporation under the Internal Revenue Code of 1986 for the 
year[.]'' 39 U.S.C. 3634(a)(2). Existing Sec.  3060.40(a) requires the 
Postal Service's calculation of the assumed Federal income tax on 
competitive product income to comply with chapter 1 of the Internal 
Revenue Code. Additionally, existing Sec.  3060.40(a) specifies that 
the computation of the competitive products enterprise's assumed tax 
liability use either the ``regular'' rates in section 11 or the 
Alternative Minimum Tax (AMT) rates in section 55(b)(1)(B) of the 
Internal Revenue Code, whichever might be applicable.
    Since the codification of existing Sec.  3060.40(a), the Internal 
Revenue Code has undergone changes. Effective December 22, 2017, the 
AMT no longer applies to corporations. Tax Cuts and Jobs Act Sec.  
12001, 131 Stat. at 2092 (codified at 26 U.S.C. 55(a)). Therefore, it 
is no longer appropriate for the Postal Service to compute the tax 
liability at the AMT rate, as contemplated in existing Sec.  
3060.40(a).
    Rather than simply removing the cross-reference to the AMT, the 
Commission proposes replacing both specific cross-references to 
particular sections of chapter 1 of the Internal Revenue Code with a 
general instruction for the Postal Service to use the applicable tax 
rate for corporations. This would enable proposed Sec.  3060.40(a) to 
stay current with any future changes to chapter 1 of the Internal 
Revenue Code affecting the tax rate for corporations. Moreover, this 
proposed approach would remain consistent with 39 U.S.C. 3634(a)(2).

B. Obsolete One-time Extension Provisions

    The Commission published the existing regulations concerning the 
assumed Federal income tax calculation in December 2008 and they took 
effect in January 2009. Order No. 151 at 1, 21. Existing Sec. Sec.  
3060.40(c) and 3060.43(c) include a one-time extension for the Postal 
Service to submit the calculation and perform the annual transfer for 
FY 2008, extending both deadlines to July 15, 2009. Since the existing 
provisions concerning past extensions are outdated and unnecessary, the 
Commission proposes removing this material from existing Sec. Sec.  
3060.40(c) and 3060.43(c). The removal of these obsolete provisions 
would simplify the regulations.

III. Proposed Rules

    Proposed Sec.  3060.40(a). Proposed Sec.  3060.40(a) replaces 
``section 11 (regular) or section 55(b)(1)(B) (Alternative Minimum Tax) 
tax rates, as applicable'' with ``applicable corporate tax rate.''
    Proposed Sec.  3060.40(c). Proposed Sec.  3060.40(c) deletes the 
phrase ``except that a one-time extension of 6 months, until July 15, 
2009, shall be permitted for the calculation of the assumed Federal 
income tax due for fiscal year end September 30, 2008.''
    Proposed Sec.  3060.43(c). Proposed Sec.  3060.43(c) removes the 
text of existing Sec.  3060.43(c), in its entirety, and redesignates 
existing Sec.  3060.43(d), and its text, as Sec.  3060.43(c).

List of Subjects in 39 CFR Part 3060

    Administrative practice and procedure, Reporting and recordkeeping 
requirements.

    For the reasons stated in the preamble, the Commission proposes to 
amend 39 chapter III of title 39 of the Code of Federal Regulations as 
follows:

PART 3060--ACCOUNTING PRACTICES AND TAX RULES FOR THE THEORETICAL 
COMPETITIVE PRODUCTS ENTERPRISE

0
1. The authority citation for part 3060 continues to read as follows:

    Authority: 39 U.S.C. 503, 2011, 3633, 3634.

0
2. Amend Sec.  3060.40, by revising paragraphs (a) and (c) to read as 
follows:


Sec.  3060.40  Calculation of the assumed Federal income tax.

    (a) The assumed Federal income tax on competitive products income 
shall be based on the Postal Service theoretical competitive products 
enterprise income statement for the relevant year and must be 
calculated in compliance with chapter 1 of the Internal Revenue Code by 
computing the tax liability on the taxable income from the competitive 
products of the Postal Service theoretical competitive products 
enterprise at the applicable corporate tax rate.
* * * * *
    (c) The calculation of the assumed Federal income tax due shall be 
submitted to the Commission no later than the January 15 following the 
close of the fiscal year referenced in paragraph (b) of this section.
* * * * *


Sec.  3060.43  [Amended]

0
3. Amend Sec.  3060.43, by removing paragraph (c) and redesignating 
paragraph (d) as paragraph (c).

    By the Commission.
Stacy L. Ruble,
Secretary.
[FR Doc. 2019-10558 Filed 5-21-19; 8:45 am]
 BILLING CODE 7710-FW-P