Distinctive Paper and Distinctive Counterfeit Deterrents for United States Federal Reserve Notes, 2871-2873 [2023-00854]
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Federal Register / Vol. 88, No. 11 / Wednesday, January 18, 2023 / Proposed Rules
will be date/time stamped and returned
to the commenter.
All communications received before
the specified closing date for comments
will be considered before taking action
on the proposed rule. The proposal
contained in this notice may be changed
in light of the comments received. A
report summarizing each substantive
public contact with FAA personnel
concerned with this rulemaking will be
filed in the docket.
Availability of NPRMs
An electronic copy of this document
may be downloaded through the
internet at www.regulations.gov.
Recently published rulemaking
documents can also be accessed through
the FAA’s web page at www.faa.gov/air_
traffic/publications/airspace_
amendments/.
You may review the public docket
containing the proposal, any comments
received, and any final disposition in
person in the Dockets Office (see the
ADDRESSES section for the address and
phone number) between 9:00 a.m. and
5:00 p.m., Monday through Friday,
except federal holidays. An informal
docket may also be examined during
normal business hours at the Federal
Aviation Administration, Air Traffic
Organization, Central Service Center,
Operations Support Group, 10101
Hillwood Parkway, Fort Worth, TX
76177.
lotter on DSK11XQN23PROD with PROPOSALS1
Availability and Summary of
Documents for Incorporation by
Reference
This document proposes to amend
FAA Order JO 7400.11G, Airspace
Designations and Reporting Points,
dated August 19, 2022, and effective
September 15, 2022. FAA Order JO
7400.11G is publicly available as listed
in the ADDRESSES section of this
document. FAA Order JO 7400.11G lists
Class A, B, C, D, and E airspace areas,
air traffic service routes, and reporting
points.
The Proposal
The FAA is proposing an amendment
to 14 CFR part 71 by amending the Class
E airspace extending upward from 700
feet above the surface to within a 6.8mile (increased from a 6.7-mile) radius
of Rantoul National Aviation CenterFrank Elliot Field, Rantoul, IL; removing
the exclusion areas from the airspace
legal description as they are not
required; and updating the name
(previously Rantoul National Aviation
Center Airport) of the airport to coincide
with the FAA’s aeronautical database.
This action is the result of an airspace
review conducted as part of the
VerDate Sep<11>2014
16:40 Jan 17, 2023
Jkt 259001
decommissioning of the Danville VOR,
which provided navigational
information to this airport, as part of the
VOR MON Program.
Class E airspace designations are
published in paragraph 6005 of FAA
Order JO 7400.11G, dated August 19,
2022, and effective September 15, 2022,
which is incorporated by reference in 14
CFR 71.1. The Class E airspace
designations listed in this document
will be published subsequently in FAA
Order JO 7400.11.
FAA Order JO 7400.11, Airspace
Designations and Reporting Points, is
published yearly and effective on
September 15.
Regulatory Notices and Analyses
The FAA has determined that this
regulation only involves an established
body of technical regulations for which
frequent and routine amendments are
necessary to keep them operationally
current, is non-controversial and
unlikely to result in adverse or negative
comments. It, therefore: (1) is not a
‘‘significant regulatory action’’ under
Executive Order 12866; (2) is not a
‘‘significant rule’’ under DOT
Regulatory Policies and Procedures (44
FR 11034; February 26, 1979); and (3)
does not warrant preparation of a
regulatory evaluation as the anticipated
impact is so minimal. Since this is a
routine matter that will only affect air
traffic procedures and air navigation, it
is certified that this rule, when
promulgated, would not have a
significant economic impact on a
substantial number of small entities
under the criteria of the Regulatory
Flexibility Act.
Environmental Review
This proposal will be subject to an
environmental analysis in accordance
with FAA Order 1050.1F,
‘‘Environmental Impacts: Policies and
Procedures’’ prior to any FAA final
regulatory action.
List of Subjects in 14 CFR Part 71
Airspace, Incorporation by reference,
Navigation (air).
The Proposed Amendment
Accordingly, pursuant to the
authority delegated to me, the Federal
Aviation Administration proposes to
amend 14 CFR part 71 as follows:
PART 71—DESIGNATION OF CLASS A,
B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND
REPORTING POINTS
1. The authority citation for 14 CFR
part 71 continues to read as follows:
■
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Frm 00010
Fmt 4702
Sfmt 4702
2871
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.
71.1
[Amended]
2. The incorporation by reference in
14 CFR 71.1 of FAA Order JO 7400.11G,
Airspace Designations and Reporting
Points, dated August 19, 2022, and
effective September 15, 2022, is
amended as follows:
■
Paragraph 6005 Class E Airspace Areas
Extending Upward From 700 Feet or More
Above the Surface of the Earth.
*
*
*
*
*
AGL IL E5 Rantoul, IL [Amended]
Rantoul National Aviation Center-Frank
Elliott Field, IL
(Lat. 40°17′35″ N, long. 88°08′18″ W)
That airspace extending upward from 700
feet above the surface within a 6.8-mile
radius of the Rantoul National Aviation
Center-Frank Elliott Field.
Issued in Fort Worth, Texas, on January 12,
2023.
Martin A. Skinner,
Acting Manager, Operations Support Group,
ATO Central Service Center.
[FR Doc. 2023–00821 Filed 1–17–23; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF THE TREASURY
Bureau of Engraving and Printing
31 CFR Part 601
Distinctive Paper and Distinctive
Counterfeit Deterrents for United
States Federal Reserve Notes
Bureau of Engraving and
Printing, Treasury.
ACTION: Notice of proposed rulemaking.
AGENCY:
This notice of proposed
rulemaking would update the
description of the distinctive paper and
distinctive counterfeit deterrents used to
guard against counterfeit and
fraudulently altered United States (U.S.)
Federal Reserve notes in accordance
with the U.S. Code. The Department of
the Treasury, Bureau of Engraving and
Printing (BEP) is amending its
distinctive paper and distinctive
counterfeit deterrents regulation to
remove obsolete language to align the
regulation to the current state-of-art and
emerging technologies generated as a
result of BEP’s research and
development initiatives; clarify the
agency’s authority for adopting
distinctive paper and distinctive
counterfeits deterrents; and announce
the adoption of new distinctive paper
and counterfeit deterrents by the
Secretary of the Treasury.
SUMMARY:
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18JAP1
2872
Federal Register / Vol. 88, No. 11 / Wednesday, January 18, 2023 / Proposed Rules
Comments must be received no
later than March 20, 2023.
ADDRESSES: Interested persons are
invited to submit comments regarding
this notice of proposed rulemaking
according to the instructions below. BEP
encourages the early submission of
comments. Comments may be submitted
through one of these methods:
• Electronic Submission: Please
submit comments electronically through
the Federal eRulemaking Portal: https://
www.regulations.gov. Electronic
submission of comments allows the
commenter maximum time to prepare
and submit a comment, ensures timely
receipt, and enables BEP to make them
available to the public. Comments
submitted electronically through the
https://www.regulations.gov website can
be viewed by other commenters and
interested members of the public.
Comments received, including
attachments and other supporting
materials, will be part of the public
record and subject to public disclosure.
Do not enclose any information in your
comment or supporting materials that
you consider confidential or
inappropriate for public disclosure. You
should submit only information that
you wish to make available publicly.
• Postal Mail Submission: Comments
may be sent to the Office of the Chief
Counsel, United States Department of
the Treasury, Bureau of Engraving and
Printing, 14th and C Streets SW,
Washington, DC 20228, Room 419–A,
Attention: Leslie J. Rivera Paga´n,
Amendments to 31 CFR part 601.
Because postal mail may be subject to
processing delay, it is recommended
that comments be submitted
electronically.
FOR FURTHER INFORMATION CONTACT:
Leslie J. Rivera Paga´n, AttorneyAdvisor, Office of Chief Counsel, U.S.
Department of the Treasury, Bureau of
Engraving and Printing, Room 419A,
14th & C Streets SW, Washington, DC
20028, phone at (202) 874–2500 or fax
(202) 874–2951.
SUPPLEMENTARY INFORMATION:
lotter on DSK11XQN23PROD with PROPOSALS1
DATES:
I. Background
The BEP regulation appearing at 31
CFR part 601 relates to the distinctive
paper and distinctive counterfeit
deterrents used to guard against
counterfeit and fraudulently altered U.S.
Federal Reserve notes. The last
amendment to 31 CFR part 601 was on
March 18, 1996. Since then, BEP has
engaged in research and development
resulting in modification of its
distinctive paper and distinctive
counterfeit deterrents, thus necessitating
revision of the entire regulation.
VerDate Sep<11>2014
16:40 Jan 17, 2023
Jkt 259001
The U.S. Congress, which has power
under the U.S. Constitution to coin
money and regulate the value thereof,
has delegated to the Secretary of the
Treasury (‘‘Secretary’’) exclusive
authority to determine the form and
tenor of U.S. Federal Reserve notes.
Accordingly, the Secretary may adopt
and examine plates, dies, bed pieces,
and other materials used to print U.S.
Federal Reserve notes and issue
regulations relating to such
examination. The Secretary may also
prescribe regulations that the Secretary
considers best calculated to promote the
public convenience and security, and to
protect the U.S. Government and
individuals from fraud and loss that
apply to anyone who may receive on
behalf of the U.S. Government, Treasury
notes, United States notes, or other
Government securities. Additionally,
the Secretary has the authority to adopt
any distinctive paper and distinctive
counterfeit deterrents for U.S. Federal
Reserve notes in the best manner to
guard against counterfeits and
fraudulent alterations.
The BEP mission is to develop and
manufacture U.S. Federal Reserve notes
that are trusted worldwide. The
Secretary has delegated specific
authority and responsibilities related to
the production of U.S. Federal Reserve
notes to the Director of BEP only.
(Treasury Order 101–07, Delegation to
the Director, Bureau of Engraving and
Printing, for the Production of Currency
Notes to Meet the Demands of the
Federal Reserve Banks, January 4, 2021.)
BEP’s Director may redelegate the
authority and responsibility to a BEP
Associate Director only.
This proposed rule would update
BEP’s 1996 (61 FR 10895) regulation
concerning the distinctive paper and
distinctive counterfeit deterrents BEP
intends to use to produce the next
generations of U.S. Federal Reserve
notes to guard against counterfeits and
fraudulent alterations. The proposed
revision would clarify the description of
the distinctive paper and distinctive
counterfeit deterrents separately for U.S.
Federal Reserve notes, remove obsolete
language, align the regulation to the
current state-of-art and emerging
technologies generated as a result of
BEP’s research and development
initiatives, clarify the agency’s authority
for adopting distinctive paper and
distinctive counterfeits deterrents, and
announce the adoption of new
distinctive paper and counterfeit
deterrents by the Secretary.
PO 00000
Frm 00011
Fmt 4702
Sfmt 4702
II. Procedural Analyses
A. Regulatory Flexibility Act
The Regulatory Flexibility Act (5
U.S.C. 601 et seq.) (RFA) requires
agencies to prepare an initial regulatory
flexibility analysis (IRFA) to determine
the economic impact of the rule on
small entities. A small entity is defined
as either a small business, a small
organization, or a small governmental
jurisdiction; an individual is not a small
entity. Section 605(b) of the RFA allows
an agency to prepare a certification
instead of an IRFA if the rule does not
have a significant economic impact on
a substantial number of small entities.
Pursuant to 5 U.S.C. 605(b), it is hereby
certified that this regulation will not
have a significant economic impact on
a substantial number of small entities.
The proposed rule is limited to updating
the description of the distinctive paper
and distinctive counterfeit deterrents
used to guard against counterfeit and
fraudulently altered United States
(‘‘U.S.’’) Federal Reserve notes and other
obligations and securities in accordance
with the U.S. Code. Accordingly, if
finalized, this proposed rule will have
no direct impact on small entities.
Notwithstanding this certification, BEP
invites comments on this proposed
rule’s impact, if any, on small entities.
B. Regulatory Planning and Review
(Executive Orders 12866 and 13563)
Executive Orders 13563 and 12866
direct agencies to assess the costs and
benefits of available regulatory
alternatives and, if regulation is
necessary, to select regulatory
approaches that maximize net benefits
(including potential economic,
environmental, public health and safety
effects, distributive impacts, and
equity). Executive Order 13563
emphasizes the importance of
quantifying both costs and benefits,
reducing costs, harmonizing rules, and
promoting flexibility. BEP has
determined this proposed rule relates to
the agency organization and
management, and therefore, Executive
Orders 13563 and 12866 do not apply to
this proposed rule. This proposed rule
is not a ‘‘significant regulatory action’’
under Executive Order 12866.
C. Unfunded Mandates Reform Act of
1995
Section 202 of the Unfunded
Mandates Reform Act of 1995 requires
that agencies assess anticipated costs
and benefits and take certain other
actions before issuing a rule that
includes any federal mandate that may
result in expenditures in any one year
by a state, local, or tribal government, in
E:\FR\FM\18JAP1.SGM
18JAP1
Federal Register / Vol. 88, No. 11 / Wednesday, January 18, 2023 / Proposed Rules
the aggregate, or by the private sector, of
$100 million in 1995 dollars, updated
annually for inflation. BEP certifies that
no actions were deemed necessary
under the Unfunded Mandates Reform
Act of 1995. Furthermore, these
proposed regulations will not result in
the expenditure by State, local, and
tribal governments, in the aggregate, or
by the private sector, of $100,000,000 or
more in any one year, and they will not
significantly or uniquely affect small
governments.
D. Federalism
Executive Order 13132 (titled
Federalism) prohibits an agency from
publishing any rule that has federalism
implications if the rule either imposes
substantial, direct compliance costs on
state and local governments, and is not
required by statute, or preempts state
law unless the agency meets the
consultation and funding requirements
of section 6 of the Executive Order. This
proposed rule has been reviewed under
Executive Order 13132 and would not
have federalism implications and or
impose substantial direct effects on
States, on the relationship between the
National Government and the States, or
the distribution of power and
responsibilities among the various
levels of government within the
meaning of the Executive Order.
Therefore, in accordance with Executive
Order 13132, it is determined that this
proposed rule does not have sufficient
federalism implications to warrant the
preparation of a federalism summary
impact statement.
E. Paperwork Reduction Act (PRA)
Notices
The Paperwork Reduction Act does
not apply because this proposed rule
would not impose information
collection requirements that require the
approval of the Office of Management
and Budget under 44 U.S.C. 3501, et
seq.
lotter on DSK11XQN23PROD with PROPOSALS1
List of Subjects in 31 CFR Part 601
Currency, Securities, Printing.
For the reasons stated in the
preamble, BEP proposes to revise 31
CFR part 601 as follows:
PART 601—DISTINCTIVE PAPER AND
DISTINCTIVE COUNTERFEIT
DETERRENTS FOR UNITED STATES
FEDERAL RESERVE NOTES
Sec.
601.1 Notice and scope.
601.2 Distinctiveness requirement.
601.3 Distinctive paper.
601.4 Distinctive counterfeit deterrents.
601.5 Penalty for unauthorized control or
possession.
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16:40 Jan 17, 2023
Jkt 259001
Authority: 5 U.S.C. 301; 12 U.S.C. 418,
421; 18 U.S.C. 474A; 31 U.S.C. 321.
§ 601.1
Notice and scope.
The regulation in this part governs the
distinctive paper and distinctive
counterfeit deterrents adopted by the
Secretary of the Treasury for United
States Federal Reserve notes, which are
subject to 18 U.S.C. 474A. The Director
of Bureau of Engraving and Printing, by
delegated authority, hereby gives notice
of the distinctive paper and distinctive
counterfeit deterrents adopted by the
Secretary of the Treasury.
§ 601.2
Distinctiveness requirement.
(a) The Secretary of the Treasury has
adopted distinctive paper and
distinctive counterfeit deterrents:
(1) In which the United States has an
exclusive property interest; or
(2) That are not otherwise in
commercial use or the public domain
and are necessary for preventing the
counterfeiting of United States Federal
Reserve notes.
(b) The distinctive paper and
counterfeit deterrents are used in United
States Federal Reserve notes.
§ 601.3
Distinctive paper.
The distinctive paper is a cream-white
currency note paper with fibers, colored
red and blue, evenly distributed
throughout the currency note paper. The
distinctive paper shall contain
distinctive counterfeit deterrents in the
currency note paper denominations
prescribed by the Secretary of the
Treasury.
§ 601.4
Distinctive counterfeit deterrents.
The distinctive counterfeit deterrents
that may be used in the denominations
of United States Federal Reserve notes
as prescribed by the Secretary of the
Treasury are:
(a) Security threads containing
graphics consisting of the designation
‘‘USA’’ and the denomination of the
currency note, expressed in alphabetic
or numeric characters.
(b) Optically variable inks with
material characteristics.
(c) Non-visual characteristic inks with
material characteristics.
(d) Optically variable thread (threedimensional (3–D) security ribbon and
micro-optic stripe) visible in front or
back of the currency note.
(e) Non-visual characteristic features
with material characteristics.
§ 601.5 Penalty for Unauthorized Control
or Possession.
(a) Control or possession of distinctive
paper and/or distinctive counterfeit
deterrents adopted in §§ 601.3 and 601.4
require authorization by the Secretary of
the Treasury.
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2873
(b) The penalty for unauthorized
control and/or possession of distinctive
paper and/or distinctive counterfeit
deterrents adopted in §§ 601.3 and 601.4
is found at 18 U.S.C. 474A.
Leonard R. Olijar,
Director.
[FR Doc. 2023–00854 Filed 1–17–23; 8:45 am]
BILLING CODE 4840–01–P
ENVIRONMENTAL PROTECTION
AGENCY
40 CFR Part 52
[EPA–R10–OAR–2022–0721, FRL–10452–
01–R10]
Air Plan Approval; AK; Adoption and
Permitting Rule Updates
Environmental Protection
Agency (EPA).
ACTION: Proposed rule.
AGENCY:
The Environmental Protection
Agency (EPA) is proposing to approve
revisions to the Alaska State
Implementation Plan submitted on May
16, 2022, and August 11, 2022. The
revisions proposed for approval update
Alaska’s adoption by reference date for
Federal regulations relied upon for
implementation of the air program,
including permitting requirements and
air pollution test methods. The revisions
also add procedures for electronic
submission of documents for air permits
and other authorizations, update air
permitting and emission fees, add
additional clarifying language to the fee
provisions, and specify emissions
inventory reporting requirements. The
EPA is proposing to approve the
submitted revisions as consistent with
Clean Air Act requirements.
DATES: Comments must be received on
or before February 17, 2023.
ADDRESSES: Submit your comments,
identified by Docket ID No. EPA–R10–
OAR–2022–0721, at https://
www.regulations.gov. Follow the online
instructions for submitting comments.
Once submitted, comments cannot be
edited or removed from regulations.gov.
The EPA may publish any comment
received to its public docket. Do not
electronically submit any information
you consider to be Confidential
Business Information (CBI) or other
information the disclosure of which is
restricted by statute. Multimedia
submissions (audio, video, etc.) must be
accompanied by a written comment.
The written comment is considered the
official comment and should include
discussion of all points you wish to
make. The EPA will generally not
SUMMARY:
E:\FR\FM\18JAP1.SGM
18JAP1
]]>Agencies
[Federal Register Volume 88, Number 11 (Wednesday, January 18, 2023)]
[Proposed Rules]
[Pages 2871-2873]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-00854]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Bureau of Engraving and Printing
31 CFR Part 601
Distinctive Paper and Distinctive Counterfeit Deterrents for
United States Federal Reserve Notes
AGENCY: Bureau of Engraving and Printing, Treasury.
ACTION: Notice of proposed rulemaking.
-----------------------------------------------------------------------
SUMMARY: This notice of proposed rulemaking would update the
description of the distinctive paper and distinctive counterfeit
deterrents used to guard against counterfeit and fraudulently altered
United States (U.S.) Federal Reserve notes in accordance with the U.S.
Code. The Department of the Treasury, Bureau of Engraving and Printing
(BEP) is amending its distinctive paper and distinctive counterfeit
deterrents regulation to remove obsolete language to align the
regulation to the current state-of-art and emerging technologies
generated as a result of BEP's research and development initiatives;
clarify the agency's authority for adopting distinctive paper and
distinctive counterfeits deterrents; and announce the adoption of new
distinctive paper and counterfeit deterrents by the Secretary of the
Treasury.
[[Page 2872]]
DATES: Comments must be received no later than March 20, 2023.
ADDRESSES: Interested persons are invited to submit comments regarding
this notice of proposed rulemaking according to the instructions below.
BEP encourages the early submission of comments. Comments may be
submitted through one of these methods:
Electronic Submission: Please submit comments
electronically through the Federal eRulemaking Portal: https://www.regulations.gov. Electronic submission of comments allows the
commenter maximum time to prepare and submit a comment, ensures timely
receipt, and enables BEP to make them available to the public. Comments
submitted electronically through the https://www.regulations.gov website
can be viewed by other commenters and interested members of the public.
Comments received, including attachments and other supporting
materials, will be part of the public record and subject to public
disclosure. Do not enclose any information in your comment or
supporting materials that you consider confidential or inappropriate
for public disclosure. You should submit only information that you wish
to make available publicly.
Postal Mail Submission: Comments may be sent to the Office
of the Chief Counsel, United States Department of the Treasury, Bureau
of Engraving and Printing, 14th and C Streets SW, Washington, DC 20228,
Room 419-A, Attention: Leslie J. Rivera Pag[aacute]n, Amendments to 31
CFR part 601. Because postal mail may be subject to processing delay,
it is recommended that comments be submitted electronically.
FOR FURTHER INFORMATION CONTACT: Leslie J. Rivera Pag[aacute]n,
Attorney-Advisor, Office of Chief Counsel, U.S. Department of the
Treasury, Bureau of Engraving and Printing, Room 419A, 14th & C Streets
SW, Washington, DC 20028, phone at (202) 874-2500 or fax (202) 874-
2951.
SUPPLEMENTARY INFORMATION:
I. Background
The BEP regulation appearing at 31 CFR part 601 relates to the
distinctive paper and distinctive counterfeit deterrents used to guard
against counterfeit and fraudulently altered U.S. Federal Reserve
notes. The last amendment to 31 CFR part 601 was on March 18, 1996.
Since then, BEP has engaged in research and development resulting in
modification of its distinctive paper and distinctive counterfeit
deterrents, thus necessitating revision of the entire regulation.
The U.S. Congress, which has power under the U.S. Constitution to
coin money and regulate the value thereof, has delegated to the
Secretary of the Treasury (``Secretary'') exclusive authority to
determine the form and tenor of U.S. Federal Reserve notes.
Accordingly, the Secretary may adopt and examine plates, dies, bed
pieces, and other materials used to print U.S. Federal Reserve notes
and issue regulations relating to such examination. The Secretary may
also prescribe regulations that the Secretary considers best calculated
to promote the public convenience and security, and to protect the U.S.
Government and individuals from fraud and loss that apply to anyone who
may receive on behalf of the U.S. Government, Treasury notes, United
States notes, or other Government securities. Additionally, the
Secretary has the authority to adopt any distinctive paper and
distinctive counterfeit deterrents for U.S. Federal Reserve notes in
the best manner to guard against counterfeits and fraudulent
alterations.
The BEP mission is to develop and manufacture U.S. Federal Reserve
notes that are trusted worldwide. The Secretary has delegated specific
authority and responsibilities related to the production of U.S.
Federal Reserve notes to the Director of BEP only. (Treasury Order 101-
07, Delegation to the Director, Bureau of Engraving and Printing, for
the Production of Currency Notes to Meet the Demands of the Federal
Reserve Banks, January 4, 2021.) BEP's Director may redelegate the
authority and responsibility to a BEP Associate Director only.
This proposed rule would update BEP's 1996 (61 FR 10895) regulation
concerning the distinctive paper and distinctive counterfeit deterrents
BEP intends to use to produce the next generations of U.S. Federal
Reserve notes to guard against counterfeits and fraudulent alterations.
The proposed revision would clarify the description of the distinctive
paper and distinctive counterfeit deterrents separately for U.S.
Federal Reserve notes, remove obsolete language, align the regulation
to the current state-of-art and emerging technologies generated as a
result of BEP's research and development initiatives, clarify the
agency's authority for adopting distinctive paper and distinctive
counterfeits deterrents, and announce the adoption of new distinctive
paper and counterfeit deterrents by the Secretary.
II. Procedural Analyses
A. Regulatory Flexibility Act
The Regulatory Flexibility Act (5 U.S.C. 601 et seq.) (RFA)
requires agencies to prepare an initial regulatory flexibility analysis
(IRFA) to determine the economic impact of the rule on small entities.
A small entity is defined as either a small business, a small
organization, or a small governmental jurisdiction; an individual is
not a small entity. Section 605(b) of the RFA allows an agency to
prepare a certification instead of an IRFA if the rule does not have a
significant economic impact on a substantial number of small entities.
Pursuant to 5 U.S.C. 605(b), it is hereby certified that this
regulation will not have a significant economic impact on a substantial
number of small entities. The proposed rule is limited to updating the
description of the distinctive paper and distinctive counterfeit
deterrents used to guard against counterfeit and fraudulently altered
United States (``U.S.'') Federal Reserve notes and other obligations
and securities in accordance with the U.S. Code. Accordingly, if
finalized, this proposed rule will have no direct impact on small
entities. Notwithstanding this certification, BEP invites comments on
this proposed rule's impact, if any, on small entities.
B. Regulatory Planning and Review (Executive Orders 12866 and 13563)
Executive Orders 13563 and 12866 direct agencies to assess the
costs and benefits of available regulatory alternatives and, if
regulation is necessary, to select regulatory approaches that maximize
net benefits (including potential economic, environmental, public
health and safety effects, distributive impacts, and equity). Executive
Order 13563 emphasizes the importance of quantifying both costs and
benefits, reducing costs, harmonizing rules, and promoting flexibility.
BEP has determined this proposed rule relates to the agency
organization and management, and therefore, Executive Orders 13563 and
12866 do not apply to this proposed rule. This proposed rule is not a
``significant regulatory action'' under Executive Order 12866.
C. Unfunded Mandates Reform Act of 1995
Section 202 of the Unfunded Mandates Reform Act of 1995 requires
that agencies assess anticipated costs and benefits and take certain
other actions before issuing a rule that includes any federal mandate
that may result in expenditures in any one year by a state, local, or
tribal government, in
[[Page 2873]]
the aggregate, or by the private sector, of $100 million in 1995
dollars, updated annually for inflation. BEP certifies that no actions
were deemed necessary under the Unfunded Mandates Reform Act of 1995.
Furthermore, these proposed regulations will not result in the
expenditure by State, local, and tribal governments, in the aggregate,
or by the private sector, of $100,000,000 or more in any one year, and
they will not significantly or uniquely affect small governments.
D. Federalism
Executive Order 13132 (titled Federalism) prohibits an agency from
publishing any rule that has federalism implications if the rule either
imposes substantial, direct compliance costs on state and local
governments, and is not required by statute, or preempts state law
unless the agency meets the consultation and funding requirements of
section 6 of the Executive Order. This proposed rule has been reviewed
under Executive Order 13132 and would not have federalism implications
and or impose substantial direct effects on States, on the relationship
between the National Government and the States, or the distribution of
power and responsibilities among the various levels of government
within the meaning of the Executive Order. Therefore, in accordance
with Executive Order 13132, it is determined that this proposed rule
does not have sufficient federalism implications to warrant the
preparation of a federalism summary impact statement.
E. Paperwork Reduction Act (PRA) Notices
The Paperwork Reduction Act does not apply because this proposed
rule would not impose information collection requirements that require
the approval of the Office of Management and Budget under 44 U.S.C.
3501, et seq.
List of Subjects in 31 CFR Part 601
Currency, Securities, Printing.
For the reasons stated in the preamble, BEP proposes to revise 31
CFR part 601 as follows:
PART 601--DISTINCTIVE PAPER AND DISTINCTIVE COUNTERFEIT DETERRENTS
FOR UNITED STATES FEDERAL RESERVE NOTES
Sec.
601.1 Notice and scope.
601.2 Distinctiveness requirement.
601.3 Distinctive paper.
601.4 Distinctive counterfeit deterrents.
601.5 Penalty for unauthorized control or possession.
Authority: 5 U.S.C. 301; 12 U.S.C. 418, 421; 18 U.S.C. 474A; 31
U.S.C. 321.
Sec. 601.1 Notice and scope.
The regulation in this part governs the distinctive paper and
distinctive counterfeit deterrents adopted by the Secretary of the
Treasury for United States Federal Reserve notes, which are subject to
18 U.S.C. 474A. The Director of Bureau of Engraving and Printing, by
delegated authority, hereby gives notice of the distinctive paper and
distinctive counterfeit deterrents adopted by the Secretary of the
Treasury.
Sec. 601.2 Distinctiveness requirement.
(a) The Secretary of the Treasury has adopted distinctive paper and
distinctive counterfeit deterrents:
(1) In which the United States has an exclusive property interest;
or
(2) That are not otherwise in commercial use or the public domain
and are necessary for preventing the counterfeiting of United States
Federal Reserve notes.
(b) The distinctive paper and counterfeit deterrents are used in
United States Federal Reserve notes.
Sec. 601.3 Distinctive paper.
The distinctive paper is a cream-white currency note paper with
fibers, colored red and blue, evenly distributed throughout the
currency note paper. The distinctive paper shall contain distinctive
counterfeit deterrents in the currency note paper denominations
prescribed by the Secretary of the Treasury.
Sec. 601.4 Distinctive counterfeit deterrents.
The distinctive counterfeit deterrents that may be used in the
denominations of United States Federal Reserve notes as prescribed by
the Secretary of the Treasury are:
(a) Security threads containing graphics consisting of the
designation ``USA'' and the denomination of the currency note,
expressed in alphabetic or numeric characters.
(b) Optically variable inks with material characteristics.
(c) Non-visual characteristic inks with material characteristics.
(d) Optically variable thread (three-dimensional (3-D) security
ribbon and micro-optic stripe) visible in front or back of the currency
note.
(e) Non-visual characteristic features with material
characteristics.
Sec. 601.5 Penalty for Unauthorized Control or Possession.
(a) Control or possession of distinctive paper and/or distinctive
counterfeit deterrents adopted in Sec. Sec. 601.3 and 601.4 require
authorization by the Secretary of the Treasury.
(b) The penalty for unauthorized control and/or possession of
distinctive paper and/or distinctive counterfeit deterrents adopted in
Sec. Sec. 601.3 and 601.4 is found at 18 U.S.C. 474A.
Leonard R. Olijar,
Director.
[FR Doc. 2023-00854 Filed 1-17-23; 8:45 am]
BILLING CODE 4840-01-P
