Streamlined Launch and Reentry License Requirements, 13448-13449 [2021-04068]

Download as PDF 13448 Federal Register / Vol. 86, No. 44 / Tuesday, March 9, 2021 / Rules and Regulations DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 2021 (86 FR 11859), FR Doc. 2021– 03879 is hereby withdrawn. Authority: 49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–1963 Comp., p. 389. 14 CFR Part 71 [Docket No. FAA–2020–0003; Airspace Docket No. 19–ACE–11] Issued in Washington, DC, on March 2, 2021. George Gonzalez, Acting Manager, Rules and Regulations Group. RIN 2120–AA66 Amendment of VOR Federal Airways V–12, V–74, and V–516 in the Vicinity of Anthony, KS [FR Doc. 2021–04618 Filed 3–8–21; 8:45 am] BILLING CODE 4910–13–P Federal Aviation Administration (FAA), DOT. ACTION: Final rule, withdrawal. AGENCY: DEPARTMENT OF TRANSPORTATION The FAA inadvertently published the same final action twice, on February 23, 2021, and again on March 1, 2021. FAA is withdrawing the second, duplicate publication. DATES: Effective March 9, 2021, FR Doc. 2021–03879, published at 86 FR 11859 (March 1, 2021), is withdrawn. ADDRESSES: FAA Order 7400.11E, Airspace Designations and Reporting Points, and subsequent amendments can be viewed online at https:// www.faa.gov/air_traffic/publications/. For further information, you can contact the Rules and Regulations Group, Federal Aviation Administration, 800 Independence Avenue SW, Washington, DC 20591; telephone: (202) 267–8783. The Order is also available for inspection at the National Archives and Records Administration (NARA). For information on the availability of FAA Order 7400.11E at NARA, email: fedreg.legal@nara.gov or go to https:// www.archives.gov/federal-register/cfr/ ibr-locations.html. FOR FURTHER INFORMATION CONTACT: Colby Abbott, Rules and Regulations Group, Office of Policy, Federal Aviation Administration, 800 Independence Avenue SW, Washington, DC 20591; telephone: (202) 267–8783. SUPPLEMENTARY INFORMATION: SUMMARY: khammond on DSKJM1Z7X2PROD with RULES History FAA published FR Doc. 2021–02066, at 86 FR 10804, on February 23, 2021. It inadvertently re-published the same document as FR Doc. 2021–03879, at 86 FR 11859, on March 1, 2021. Therefore, FAA is withdrawing the second, duplicate document. List of Subjects in 14 CFR Part 71 Airspace, Incorporation by reference, Navigation (air). The Withdrawal Accordingly, pursuant to the authority delegated to me, the final rule published in the Federal Register on March 1, ■ VerDate Sep<11>2014 16:19 Mar 08, 2021 Jkt 253001 Federal Aviation Administration 14 CFR Parts 401, 404, 413, 414, 415, 417, 420, 431, 433, 435, 437, 440, 450, and 460 [Docket No. FAA–2019–0229; Amdt. No(s). 401–9; 404–7, 413–12, 414–4, 415–7, 417– 6, 420–9, 431–7, 433- 3, 435–5, 437–3, 440– 5, 450–2, and 460–3] RIN 2120–AL17 Streamlined Launch and Reentry License Requirements Federal Aviation Administration (FAA), U.S. Department of Transportation (DOT). ACTION: Final rule; delay of effective date. AGENCY: In accordance with the memorandum of January 20, 2021, from the Assistant to the President and Chief of Staff, titled ‘‘Regulatory Freeze Pending Review,’’ the Department delays the effective date of the final rule, titled ‘‘Streamlined Launch and Reentry License Requirements,’’ until March 21, 2021. DATES: As of March 9, 2021, the March 10, 2021 effective date of the final rule published on December 10, 2020, at 85 FR 79566, is delayed to March 21, 2021. FOR FURTHER INFORMATION CONTACT: For technical questions concerning this action, contact Randy Repcheck, Office of Commercial Space Transportation, Federal Aviation Administration, 800 Independence Avenue SW, Washington, DC 20591; telephone (202) 267–8760; email Randy.Repcheck@faa.gov. SUPPLEMENTARY INFORMATION: SUMMARY: Electronic Access and Filing A copy of the ‘‘Streamlined Launch and Reentry License Requirements’’ notice of proposed rulemaking (NPRM) (84 FR 15296, April 15, 2019), all comments received, the final rule, and all background material may be viewed online at https://www.regulations.gov using the docket number listed above. A PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 copy of this final rule will also be placed in the docket. Electronic retrieval help and guidelines are available on the website. It is available 24 hours each day, 365 days each year. An electronic copy of this document may also be downloaded from the Office of the Federal Register’s website at https:// www.ofr.gov and the Government Publishing Office’s website at https:// www.gpo.gov. Background On January 20, 2021, the Assistant to the President and Chief of Staff issued a memorandum titled, ‘‘Regulatory Freeze Pending Review.’’ The memorandum requested that the heads of executive departments and agencies (agencies) take steps to ensure that the President’s appointees or designees have the opportunity to review any new or pending rules. With respect to rules published in the Federal Register, but not yet effective, the memorandum asked that agencies consider postponing the rules’ effective dates for 60 days from the date of the memorandum (i.e., March 21, 2021) for the purpose of reviewing any questions of fact, law, and policy the rules may raise. In accordance with this direction, the FAA has decided to delay the March 10, 2021 effective date of the final rule, titled ‘‘Streamlined Launch and Reentry License Requirements’’ (RIN 2120– AL17), until March 21, 2021. This final rule will streamline and increase flexibility in the FAA’s commercial space launch and reentry regulations, and remove obsolete requirements It will also consolidate and revise multiple regulatory parts and apply a single set of licensing and safety regulations across several types of operations and vehicles. Finally, the rule will describe the requirements to obtain a vehicle operator license, the safety requirements, and the terms and conditions of a vehicle operator license. The delay in the rule’s effective date will afford the President’s appointees or designees an opportunity to review the rule and will allow for consideration of any questions of fact, law, or policy that the rule may raise before it becomes effective. Waiver of Rulemaking and Delayed Effective Date Under the Administrative Procedure Act (APA) (5 U.S.C. 553), the FAA generally offers interested parties the opportunity to comment on proposed regulations and publishes rules not less than 30 days before their effective dates. However, the APA provides that an agency is not required to conduct notice-and-comment rulemaking or E:\FR\FM\09MRR1.SGM 09MRR1 Federal Register / Vol. 86, No. 44 / Tuesday, March 9, 2021 / Rules and Regulations delay effective dates when the agency, for good cause, finds that the requirement is impracticable, unnecessary, or contrary to the public interest (5 U.S.C. 553(b)(B) and (d)(3)). There is good cause to waive both of these requirements here as they are impracticable. A delay in the effective date of the final rule, titled ‘‘Streamlined Launch and Reentry License Requirements,’’ is necessary for the President’s appointees and designees to have adequate time to review the rule before it takes effect, and neither the notice and comment process nor the delayed effective date could be implemented in time to allow for this review. Issued in Washington, DC, under the authority in 49 U.S.C. 106(f) and 51 U.S.C. Chapter 509, on February 22, 2021. Steve Dickson, Administrator. [FR Doc. 2021–04068 Filed 3–8–21; 8:45 am] BILLING CODE 4910–13–P DEPARTMENT OF THE TREASURY 31 CFR Part 35 [Docket No. TREAS–DO–2021–0004] RIN 1505–AC76 Table of Contents Emergency Capital Investment Program—Restrictions on Executive Compensation, Share Buybacks, and Dividends Department of the Treasury. Interim final rule and request for public comment. AGENCY: ACTION: Section 104A of the Community Development Banking and Financial Institutions Act of 1994, which was added by the Consolidated Appropriations Act, 2021, establishes the Emergency Capital Investment Program to support capital investments in low- and moderate-income community financial institutions. The program is available to eligible minority depository institutions and community development financial institutions that are insured depository institutions, bank holding companies, savings and loan holding companies, or federally insured credit unions. Under Section 104A, the Secretary of the Treasury is required to issue rules setting restrictions on executive compensation, share buybacks, and dividend payments for recipients of capital investments under the program. This interim final rule establishes these restrictions. DATES: Effective date: This interim final rule is effective March 9, 2021. khammond on DSKJM1Z7X2PROD with RULES SUMMARY: VerDate Sep<11>2014 16:19 Mar 08, 2021 Comment date: Comments must be received on or before April 8, 2021. ADDRESSES: You may submit comments identified by number TREAS–DO– 2021–0004 through the Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. Treasury will post all comments on www.regulations.gov. If you wish to submit confidential business information (CBI) as defined in the User Notice at www.regulations.gov, please send an email to ECIPInquiries@ Treasury.gov. Highlight the information that you consider to be CBI and explain why you believe Treasury should hold this information as confidential. Treasury will review the information and make the final determination whether it will publish the information. FOR FURTHER INFORMATION CONTACT: For further information regarding this interim final rule contact Brian Donovan, Emergency Capital Investment Program, Treasury, at (202) 653–0371 or Brian.Donovan2@treasury.gov, or Eric Froman, Assistant General Counsel (Banking and Finance), Treasury, at (202) 622–1942 or Eric.Froman@ treasury.gov. SUPPLEMENTARY INFORMATION: Jkt 253001 I. Background Information II. Comments and Immediate Effective Date III. Interim Final Rule A. Background on the ECIP B. Overview of the Interim Final Rule 1. Restrictions on Compensation 2. Restrictions on Dividends, Share Buybacks, and Other Capital Distributions IV. Regulatory Analyses A. Administrative Procedure Act B. National Environmental Policy Act C. Paperwork Reduction Act D. Regulatory Flexibility Act E. Regulatory Planning and Review F. Executive Order 13132 G. Congressional Review Act I. Background Information On December 27, 2020, the Consolidated Appropriations Act, 2021 (Pub. L. 116–260), was signed into law. It added Section 104A of the Community Development Banking and Financial Institutions Act of 1994 (the Act) (12 U.S.C. 4701 et seq.), which was enacted as part of the Riegle Community Development and Regulatory Improvement Act of 1994 (Pub. L. 103– 325). Section 104A authorizes the Secretary of the Treasury to establish the Emergency Capital Investment Program (ECIP or Program) to make investments in low- and moderateincome community financial institutions. These investments are to PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 13449 support the efforts of low- and moderate-income community financial institutions to, among other things, provide loans, grants, and forbearance for small businesses, minority-owned businesses, and consumers, especially in low-income and underserved communities, including persistent poverty counties, which may be disproportionately impacted by the economic effects of the COVID–19 pandemic. Under Section 104A(h) of the Act, the Department of the Treasury (Treasury) must issue rules setting restrictions on executive compensation, share buybacks, and dividend payments for recipients of capital investments under ECIP. This rulemaking establishes those restrictions, which are described in section III below. II. Comments and Immediate Effective Date ECIP is intended to be used to make investments in low- and moderateincome community financial institutions expeditiously.1 Section 104A(h) of the Act requires Treasury to issue rules no later than 30 days after the statute’s effective date that set restrictions on executive compensation, share buybacks, and dividend payments for recipients of capital investments under ECIP. This legislative mandate, along with the dramatic and ongoing effects of the COVID–19 pandemic—the public health crisis, continuing closures of small businesses and minority-owned businesses, and heightened consumer unemployment, especially in lowincome and underserved communities— provides good cause for Treasury to issue this interim final rule without advance notice and public comment and to dispense with the 30-day delayed effective date provided in the Administrative Procedure Act (5 U.S.C. 553). The immediate effective date of this interim final rule will benefit lowand moderate-income community financial institutions, as well as the communities served by such institutions, by allowing low- and moderate-income community financial institutions to expeditiously apply for capital investments with a full understanding of the executive compensation, share buyback, and dividend payment restrictions that will 1 For example, section 104A(d)(1) of the Act requires Treasury to begin accepting applications for capital investments under ECIP within 30 days after enactment of the statute, and section 104A(h)(1) requires Treasury to issue rules setting restrictions on executive compensation, share buybacks, and dividend payments for ECIP recipients within 30 days after enactment of the statute. E:\FR\FM\09MRR1.SGM 09MRR1

Agencies

[Federal Register Volume 86, Number 44 (Tuesday, March 9, 2021)]
[Rules and Regulations]
[Pages 13448-13449]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04068]


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

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Parts 401, 404, 413, 414, 415, 417, 420, 431, 433, 435, 437, 
440, 450, and 460

[Docket No. FAA-2019-0229; Amdt. No(s). 401-9; 404-7, 413-12, 414-4, 
415-7, 417-6, 420-9, 431-7, 433- 3, 435-5, 437-3, 440-5, 450-2, and 
460-3]
RIN 2120-AL17


Streamlined Launch and Reentry License Requirements

AGENCY: Federal Aviation Administration (FAA), U.S. Department of 
Transportation (DOT).

ACTION: Final rule; delay of effective date.

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

SUMMARY: In accordance with the memorandum of January 20, 2021, from 
the Assistant to the President and Chief of Staff, titled ``Regulatory 
Freeze Pending Review,'' the Department delays the effective date of 
the final rule, titled ``Streamlined Launch and Reentry License 
Requirements,'' until March 21, 2021.

DATES: As of March 9, 2021, the March 10, 2021 effective date of the 
final rule published on December 10, 2020, at 85 FR 79566, is delayed 
to March 21, 2021.

FOR FURTHER INFORMATION CONTACT: For technical questions concerning 
this action, contact Randy Repcheck, Office of Commercial Space 
Transportation, Federal Aviation Administration, 800 Independence 
Avenue SW, Washington, DC 20591; telephone (202) 267-8760; email 
[email protected].

SUPPLEMENTARY INFORMATION:

Electronic Access and Filing

    A copy of the ``Streamlined Launch and Reentry License 
Requirements'' notice of proposed rulemaking (NPRM) (84 FR 15296, April 
15, 2019), all comments received, the final rule, and all background 
material may be viewed online at https://www.regulations.gov using the 
docket number listed above. A copy of this final rule will also be 
placed in the docket. Electronic retrieval help and guidelines are 
available on the website. It is available 24 hours each day, 365 days 
each year. An electronic copy of this document may also be downloaded 
from the Office of the Federal Register's website at https://www.ofr.gov 
and the Government Publishing Office's website at https://www.gpo.gov.

Background

    On January 20, 2021, the Assistant to the President and Chief of 
Staff issued a memorandum titled, ``Regulatory Freeze Pending Review.'' 
The memorandum requested that the heads of executive departments and 
agencies (agencies) take steps to ensure that the President's 
appointees or designees have the opportunity to review any new or 
pending rules. With respect to rules published in the Federal Register, 
but not yet effective, the memorandum asked that agencies consider 
postponing the rules' effective dates for 60 days from the date of the 
memorandum (i.e., March 21, 2021) for the purpose of reviewing any 
questions of fact, law, and policy the rules may raise.
    In accordance with this direction, the FAA has decided to delay the 
March 10, 2021 effective date of the final rule, titled ``Streamlined 
Launch and Reentry License Requirements'' (RIN 2120-AL17), until March 
21, 2021. This final rule will streamline and increase flexibility in 
the FAA's commercial space launch and reentry regulations, and remove 
obsolete requirements It will also consolidate and revise multiple 
regulatory parts and apply a single set of licensing and safety 
regulations across several types of operations and vehicles. Finally, 
the rule will describe the requirements to obtain a vehicle operator 
license, the safety requirements, and the terms and conditions of a 
vehicle operator license.
    The delay in the rule's effective date will afford the President's 
appointees or designees an opportunity to review the rule and will 
allow for consideration of any questions of fact, law, or policy that 
the rule may raise before it becomes effective.

Waiver of Rulemaking and Delayed Effective Date

    Under the Administrative Procedure Act (APA) (5 U.S.C. 553), the 
FAA generally offers interested parties the opportunity to comment on 
proposed regulations and publishes rules not less than 30 days before 
their effective dates. However, the APA provides that an agency is not 
required to conduct notice-and-comment rulemaking or

[[Page 13449]]

delay effective dates when the agency, for good cause, finds that the 
requirement is impracticable, unnecessary, or contrary to the public 
interest (5 U.S.C. 553(b)(B) and (d)(3)). There is good cause to waive 
both of these requirements here as they are impracticable. A delay in 
the effective date of the final rule, titled ``Streamlined Launch and 
Reentry License Requirements,'' is necessary for the President's 
appointees and designees to have adequate time to review the rule 
before it takes effect, and neither the notice and comment process nor 
the delayed effective date could be implemented in time to allow for 
this review.

    Issued in Washington, DC, under the authority in 49 U.S.C. 
106(f) and 51 U.S.C. Chapter 509, on February 22, 2021.
Steve Dickson,
Administrator.
[FR Doc. 2021-04068 Filed 3-8-21; 8:45 am]
BILLING CODE 4910-13-P
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