Additional Guidance on Low-Income Communities Bonus Credit Program; Correction, 41340-41341 [2023-13510]

Download as PDF 41340 Federal Register / Vol. 88, No. 121 / Monday, June 26, 2023 / Proposed Rules ddrumheller on DSK120RN23PROD with PROPOSALS1 supplemental data and analysis related to anticipated economic effects of the Proposed Rule.12 We believe that the information presented in the memorandum has the potential to be informative for purposes of further evaluating the Proposed Rule. We are, therefore, reopening the comment period to permit interested parties to comment on the staff memorandum, which has been included in the comment file. Given the information presented in the memorandum, we seek comment regarding whether the Reporting Threshold Amounts in the Proposed Rule should be higher or lower. Specifically, in addition to the requests for comment included in the Proposing Release, the Commission seeks comments on the following: Request for Comment 1. In general, the Commission requests comment on the proposed Reporting Threshold Amount for each asset class (e.g., equity security-based swaps, CDS, non-CDS debt securitybased swaps, etc.). 2. With respect to each asset class, should the Reporting Threshold Amount in any final rule be higher or lower than the proposed Reporting Threshold Amount if: a. Consistent with the Proposed Rule, such final rule requires, at an interim threshold, the inclusion of the value of related securities owned by the holder of the security-based swap position in the calculation of the Reporting Threshold Amount? b. Such final rule does not require the inclusion of related securities owned by the holder of the security-based swap position in those calculations? c. Such final rule permits offsetting of security-based swap positions with identical terms (e.g., offsetting long positions with short positions, but only if the security-based swap positions reference the same product identifier)? d. Consistent with the Proposed Rule, such final rule requires aggregation of security-based swap positions by any person (and any entity controlling, controlled by or under common control with such person) or group of persons, who through any contract, arrangement, understanding or relationship, after acquiring or selling directly or indirectly, any security-based swap, is directly or indirectly the owner or seller of a security-based swap position that exceeds the Reporting Threshold Amount? e. Such final rule does not require aggregation of security-based swap positions across entities that are both separately legally established and capitalized (unless a guarantee exists)? f. Such final rule does not require aggregation of security-based swap positions across entities that are both separately legally established and capitalized (unless a guarantee exists), unless acting as a group with a common purpose? g. Such final rule requires aggregation of security-based swap positions established by transactions effected for such person’s own account and of security-based swap positions established by transactions effected for the account of others, when that person shares in the economic risk in the other accounts or otherwise controls the account? h. Such final rule does not require the Reporting Threshold Amount to include security-based swap positions entered into by a person with an entity or person controlling, controlled by, or under common control with that person? i. Such final rule requires or does not require aggregation or inclusion of transactions pursuant to any combination of the options listed in items (a) through (h) above? We encourage any interested person to submit comments, including comments on the data or methodology used in the analysis contained in the memorandum and on how this analysis should inform our consideration of the economic effects of the Proposed Rule. If any commenters who have already submitted a comment letter wish to provide supplemental or updated comments, we encourage them to do so. Comments are of particular assistance if accompanied by supporting data and analysis of the issues addressed in those comments. By the Commission. Dated: June 20, 2023. Vanessa A. Countryman, Secretary. [FR Doc. 2023–13447 Filed 6–23–23; 8:45 am] BILLING CODE 8011–01–P 16:50 Jun 23, 2023 Jkt 259001 PO 00000 Internal Revenue Service 26 CFR Part 1 [REG–110412–23] RIN 1545–BQ81 Additional Guidance on Low-Income Communities Bonus Credit Program; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking. AGENCY: This document contains corrections to a notice of proposed rulemaking (REG–110412–23) that was published in the Federal Register on June 1, 2023. The notice of proposed rulemaking contains proposed regulations concerning the low-income communities bonus energy investment credit program established pursuant to the Inflation Reduction Act of 2022. DATES: Written or electronic comments are still being accepted and must be received by June 30, 2023. ADDRESSES: Stakeholders are strongly encouraged to submit public comments electronically. Submit electronic submissions via the Federal eRulemaking Portal at https:// www.regulations.gov (indicate IRS and REG–110412–23) by following the online instructions for submitting comments. Once submitted to the Federal eRulemaking Portal, comments cannot be edited or withdrawn. The Department of the Treasury (Treasury Department) and the IRS will publish for public availability any comments submitted, whether electronically or on paper, to the IRS’s public docket. Send paper submissions to: CC:PA:LPD:PR (REG–110412–23), Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. SUMMARY: FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, Office of Associate Chief Counsel (Passthroughs & Special Industries), at (202) 317–6853 (not a toll-free number); concerning submissions of written comments, Vivian Hayes, at (202) 317– 6901 (not a toll-free number), preferably at publichearings@irs.gov. SUPPLEMENTARY INFORMATION: Background 12 Memorandum of the Staff of the Division of Economic and Risk Analysis, Supplemental data and analysis regarding the proposed reporting thresholds in the equity security-based swap market (June 20, 2023), available at https://www.sec.gov/ comments/s7-32-10/s73210.htm. VerDate Sep<11>2014 DEPARTMENT OF THE TREASURY The proposed regulation that is the subject of this correction is under section 48(e) of the Internal Revenue Code. Frm 00004 Fmt 4702 Sfmt 4702 E:\FR\FM\26JNP1.SGM 26JNP1 Federal Register / Vol. 88, No. 121 / Monday, June 26, 2023 / Proposed Rules Need for Correction As published, the notice of proposed rulemaking (REG–110412–23) contains an error that needs to be corrected. Correction of Publication Accordingly, the notice of proposed rulemaking (REG–110412–23) that is the subject of FR Doc. 2023–11718, published on June 1, 2023, at (88 FR 35791), is corrected to read as follows: 1. On page 35791, in the third column, the third line from the top of the column is corrected to read ‘‘26 CFR part 1’’. 2. On page 35793, in the third column, the fifth line from the bottom of the column is corrected to read, ‘‘rating of the energy storage technology (in kW)’’. Oluwafunmilayo A. Taylor, Branch Chief, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2023–13510 Filed 6–23–23; 8:45 am] BILLING CODE 4830–01–P ENVIRONMENTAL PROTECTION AGENCY 40 CFR Part 52 [EPA–R05–OAR–2020–0699; FRL–10754– 01–R5] Air Plan Approval; Indiana; ArcelorMittal and NIPSCO Sulfur Dioxide Revisions Environmental Protection Agency (EPA). ACTION: Proposed rule. AGENCY: The Environmental Protection Agency (EPA) is proposing to approve revisions to the sulfur dioxide (SO2) portion of the Indiana State Implementation Plan (SIP). The state of Indiana is requesting revisions to emission limits at the Northern Indiana Public Service Company Bailly Station (NIPSCO) facility reflecting permanently shut down units. Indiana is also requesting SIP revisions for two facilities formerly owned by ArcelorMittal USA LLC and currently owned by Cleveland-Cliffs LLC (Indiana Harbor East and Indiana Harbor West). The Indiana Harbor East facility is required to demonstrate continuous compliance with final SO2 emission limits as a daily (24-hour) average. These revisions will result in decreases in allowable SO2 emissions at all three facilities, maintaining SO2 attainment/ unclassifiable designations for the 2010 1-hour SO2 national ambient air quality standards (NAAQS). ddrumheller on DSK120RN23PROD with PROPOSALS1 SUMMARY: VerDate Sep<11>2014 16:50 Jun 23, 2023 Comments must be received on or before July 26, 2023. ADDRESSES: Submit your comments, identified by Docket ID No. EPA–R05– OAR–2020–0699 at https:// www.regulations.gov, or via email to arra.sarah@epa.gov. For comments submitted at Regulations.gov, follow the online instructions for submitting comments. Once submitted, comments cannot be edited or removed from Regulations.gov. For either manner of submission, EPA may publish any comment received to its public docket. Do not submit electronically any information you consider to be Confidential Business Information (CBI) or other information whose disclosure 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. EPA will generally not consider comments or comment contents located outside of the primary submission (i.e., on the web, cloud, or other file sharing system). For additional submission methods, please contact the person identified in the FOR FURTHER INFORMATION CONTACT section. For the full EPA public comment policy, information about CBI or multimedia submissions, and general guidance on making effective comments, please visit https://www2.epa.gov/dockets/ commenting-epa-dockets. FOR FURTHER INFORMATION CONTACT: Cecilia Magos, Life Scientist, Attainment Planning and Maintenance Section, Air Programs Branch (AR–18J), Environmental Protection Agency, Region 5, 77 West Jackson Boulevard, Chicago, Illinois 60604, (312) 886–7336, magos.cecilia@epa.gov. The EPA Region 5 office is open from 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding Federal holidays and facility closures due to COVID–19. SUPPLEMENTARY INFORMATION: Throughout this document whenever ‘‘we,’’ ‘‘us,’’ or ‘‘our’’ is used, we mean EPA. DATES: Jkt 259001 I. Background On March 31, 2021, the Indiana Department of Environmental Management (IDEM) submitted a sitespecific SO2 SIP revision request to EPA for the NIPSCO facility in Porter County, and SIP revision requests for Indiana Harbor West and Indiana Harbor East both located in Lake County. The revisions for NIPSCO and ArcelorMittal LLC (Indiana Harbor West) are administrative clean-up revisions removing limits that apply to PO 00000 Frm 00005 Fmt 4702 Sfmt 4702 41341 permanently shut down units. The revisions for ArcelorMittal LLC (Indiana Harbor East) remove limits that apply to permanently shut down units and include a demonstration of continuous compliance with SO2 emission limits as a daily (24-hour) average SO2 pounds per hour (lbs/hr) emission limit. II. Content in IDEM’s SIP Revision Request The revised rule 326 Indiana Administrative Code (IAC) 7–4–14(2) reduces the SO2 emissions at the NIPSCO facility by removing boilers 7 and 8 and their limits of 6.0 pounds per million British thermal units (lbs/ MMBtu) each, described in Table 1 below. These boilers have been permanently shut down. Additionally, revisions to 326 IAC 7– 4.1–10 update the name of the ISG Indiana Harbor Inc. facility to ArcelorMittal USA LLC (Indiana Harbor West). The revised rule changes language of Utility Boilers 5, 6, 7 and 8 emission unit requirements from ‘‘shall’’ to ‘‘must’’ concerning total actual heat input from fuel oil usage at all boilers combined, the fuel boilers are fired on, and sulfur percentage and lb/MMBtu of fuel oil burned. For shut down units, the revision includes removal of the hot strip mill slab heat reheat furnaces 1, 2, and 3 with emission limits of 531.1 lbs/ hr each, as well as removal of the sinter plant windbox with emission limits of 240 lbs/hour. Removal of emission units and limits results in a total of 19.67 lbs/ hour sulfur emission limit reductions at the Indiana Harbor West facility. Rule revisions to 326 IAC 7–4.1–11 update the name of the Ispat Inland Inc. facility to ArcelorMittal USA LLC (Indiana Harbor East). The revisions include removal of a series of shut down emission units and listings including: No. 1 blast furnace stove; No. 2 blast furnace stove; No. 5 and No. 6 blast furnace stoves; No. 2AC boilers 207, 208, 209, and 210; No. 2AC boilers 211, 212, and 213; No. 4AC boilers 401, 402, 403, 404, and 405; stack 1 (boilers 401 and 402); stack 2 (boilers 403 and 404); stack 3 (boiler 405); anneal 3, 4. In regard to the boilers that feed into stacks 1, 2, and 3 being shut down, the SIP revision removes the requirements to operate continuous emission monitoring systems on those stacks. The SIP revision also removes the equations to calculate sulfur dioxide emissions in units of pounds per MMBtu of the aforementioned units. For the Indiana Harbor East facility, the revised rule at 326 IAC 7–4.1–11 combines the No. 7 Blast Furnace Canopy and No. 7 Blast Furnace Baghouse into a combined No. 7 Blast E:\FR\FM\26JNP1.SGM 26JNP1

Agencies

[Federal Register Volume 88, Number 121 (Monday, June 26, 2023)]
[Proposed Rules]
[Pages 41340-41341]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-13510]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-110412-23]
RIN 1545-BQ81


Additional Guidance on Low-Income Communities Bonus Credit 
Program; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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SUMMARY: This document contains corrections to a notice of proposed 
rulemaking (REG-110412-23) that was published in the Federal Register 
on June 1, 2023. The notice of proposed rulemaking contains proposed 
regulations concerning the low-income communities bonus energy 
investment credit program established pursuant to the Inflation 
Reduction Act of 2022.

DATES: Written or electronic comments are still being accepted and must 
be received by June 30, 2023.

ADDRESSES: Stakeholders are strongly encouraged to submit public 
comments electronically. Submit electronic submissions via the Federal 
eRulemaking Portal at https://www.regulations.gov (indicate IRS and 
REG-110412-23) by following the online instructions for submitting 
comments. Once submitted to the Federal eRulemaking Portal, comments 
cannot be edited or withdrawn. The Department of the Treasury (Treasury 
Department) and the IRS will publish for public availability any 
comments submitted, whether electronically or on paper, to the IRS's 
public docket. Send paper submissions to: CC:PA:LPD:PR (REG-110412-23), 
Room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin 
Station, Washington, DC 20044.

FOR FURTHER INFORMATION CONTACT: Concerning the proposed regulations, 
Office of Associate Chief Counsel (Passthroughs & Special Industries), 
at (202) 317-6853 (not a toll-free number); concerning submissions of 
written comments, Vivian Hayes, at (202) 317-6901 (not a toll-free 
number), preferably at [email protected].

SUPPLEMENTARY INFORMATION:

Background

    The proposed regulation that is the subject of this correction is 
under section 48(e) of the Internal Revenue Code.

[[Page 41341]]

Need for Correction

    As published, the notice of proposed rulemaking (REG-110412-23) 
contains an error that needs to be corrected.

Correction of Publication

    Accordingly, the notice of proposed rulemaking (REG-110412-23) that 
is the subject of FR Doc. 2023-11718, published on June 1, 2023, at (88 
FR 35791), is corrected to read as follows:
    1. On page 35791, in the third column, the third line from the top 
of the column is corrected to read ``26 CFR part 1''.
    2. On page 35793, in the third column, the fifth line from the 
bottom of the column is corrected to read, ``rating of the energy 
storage technology (in kW)''.

Oluwafunmilayo A. Taylor,
Branch Chief, Legal Processing Division, Associate Chief Counsel 
(Procedure and Administration).
[FR Doc. 2023-13510 Filed 6-23-23; 8:45 am]
BILLING CODE 4830-01-P
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