Notices. License Amendment

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BILLING CODE 4510-43-P NUCLEAR REGULATORY COMMISSION [Docket Nos. 50-317 and 50-318] Calvert Cliffs Nuclear Power Plant, Unit Nos. 1 and 2; Notice of Withdrawal of Application for Amendment to Renewed Facility Operating License The U.S. Nuclear Regulatory Commission (the Commission) has granted the request of Calvert Cliffs Nuclear Power Plant, Inc. (the licensee) to withdraw its June 7, 2004, application for proposed amendment to Renewed Facility Operating License No. DPR-53 and No.

DPR-69, for the Calvert Cliffs Nuclear Power Plant, Unit Nos. 1 and 2, located in Lusby, MD. The proposed amendment would have revised Technical Specification 3.9.4, “Shutdown Cooling and Coolant Circulation-High Water Level,” to incorporate the use of an alternate cooling method to function as a path for decay heat removal when in Mode 6 with the refueling pool fully flooded. The Commission had previously issued a Notice of Consideration of Issuance of Amendment published in the **Federal Register** on November 29, 2004 (69 FR 69417).

However, by letter dated March 30, 2005, the licensee withdrew the proposed change. For further details with respect to this action, see the application for amendment dated June 7, 2004, and the licensee's letter dated March 30, 2005, which withdrew the application for license amendment. Documents may be examined, and/or copied for a fee, at the NRC's Public Document Room (PDR), located at One White Flint North, Public File Area O1 F21, 11555 Rockville Pike (first floor), Rockville, Maryland.

Publicly available records will be accessible electronically from the Agencywide Documents Access and Management Systems (ADAMS) Public Electronic Reading Room on the internet at the NRC Web site, *http://www.nrc.gov/reading-rm/adams/html.* Persons who do not have access to ADAMS or who encounter problems in accessing the documents located in ADAMS, should contact the NRC PDR Reference staff by telephone at 1-800-397-4209, or 301-415-4737 or by e-mail to *pdr@nrc.gov.* Dated at Rockville, Maryland, this 25th day of April 2005.

For the Nuclear Regulatory Commission. Richard V. Guzman, Project Manager, Section 1,Project Directorate I, Division of Licensing Project Management, Office of Nuclear Reactor Regulation. [FR Doc. E5-2052 Filed 4-28-05; 8:45 am] BILLING CODE 7590-01-P NUCLEAR REGULATORY COMMISSION [Docket No. 72-11] Notice of Issuance of Amendment to Materials License No. SNM-2510; Sacramento Municipal Utility District; Rancho SECO Independent Spent Fuel Storage Installation AGENCY: Nuclear Regulatory Commission.

ACTION: License Amendment. SUMMARY: The U.S. Nuclear Regulatory Commission (NRC or Commission) has issued Amendment 2 to Materials License SNM-2510 held by Sacramento Municipal Utility District

(SMUD)for the receipt, possession, transfer, and storage of spent fuel at the Rancho Seco Independent Spent Fuel Storage Installation (ISFSI), located on the site of the Rancho Seco Nuclear Generating Station located in Sacramento County, California. The amendment is effective as of the date of issuance. FOR FURTHER INFORMATION CONTACT: James R. Hall, Senior Project Manager, Spent Fuel Project Office, Office of Nuclear Material Safety and Safeguards, U.S. Nuclear Regulatory Commission, Washington, DC 20555. Telephone:

(301)415-1336; fax number:

(301)415-8555; email: *jrh@nrc.gov* . SUPPLEMENTARY INFORMATION: By application dated July 29, 2004, SMUD submitted a request to the NRC, in accordance with Title 10 of the Code of Federal Regulations (10 CFR) 72.56, “Application for amendment of license,” to amend the License for the Rancho Seco ISFSI to allow for the storage of Greater than Class C

(GTCC)waste. This requested change does not affect the design, operation, or surveillance of the ISFSI. This amendment complies with the requirements of the Atomic Energy Act of 1954, as amended (the Act), and the Commission's rules and regulations. The Commission has made appropriate findings as required by the Act and the Commission's rules and regulations in 10 CFR Chapter I, which are set forth in the license amendment. In accordance with 10 CFR 72.46(b)(2), a determination has been made that the amendment does not present a genuine issue as to whether public health and safety will be significantly affected. Therefore, the publication of a notice of proposed action and an opportunity for hearing or a notice of hearing is not warranted. Notice is hereby given of the right of interested persons to request a hearing on whether the action should be rescinded or modified. The NRC staff has determined that the proposed action will not have a significant impact on the environment. For this action, an Environmental Assessment and Finding of No Significant Impact was prepared and published in the **Federal Register** (70 FR 16881, April 1, 2005). The request for amendment was docketed under 10 CFR Part 72, Docket 72-11. For further details with respect to this action, see the amendment request dated July 29, 2004, and December 2, 2004, supplement. The NRC maintains an Agencywide Documents Access and Management System (ADAMS), which provides text and image files of NRC's public documents. These documents may be accessed through the NRC's Public Electronic Reading Room on the Internet at: *http://www.nrc.gov/reading-rm/adams.html* . Copies of the referenced documents will also be available for review at the NRC Public Document Room (PDR), located at 11555 Rockville Pike, Rockville, MD 20852. PDR reference staff can be contacted at 1-800-397-4209, 301-415-4737 or by e-mail to *pdr@nrc.gov* . The PDR reproduction contractor will copy documents for a fee. Dated at Rockville, Maryland, this 18th day of April, 2005. For the Nuclear Regulatory Commission. James R. Hall, Senior Project Manager Licensing Section, Spent Fuel Project Office, Office of Nuclear Material Safety and Safeguards. [FR Doc. E5-2051 Filed 4-28-05; 8:45 am] BILLING CODE 7590-01-P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33-8571; 34-51610; File No. 265-23] Summary of Proposed Committee Agenda of Advisory Committee on Smaller Public Companies AGENCY: Securities and Exchange Commission. ACTION: Request for comments. SUMMARY: The Advisory Committee is soliciting public comment on a summary of its proposed Committee Agenda. The Committee Agenda sets forth the specific issues that the Committee proposes to address in connection with its evaluation of the current securities regulatory system for smaller public companies, including the impact of the Sarbanes-Oxley Act of 2002 on areas under consideration. DATES: Comments should be received on or before May 31, 2005. ADDRESSES: Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission's Internet submission form ( *http://www.sec.gov/info/smallbus/acspc.shtml* ); or • Send an e-mail to *rule-comments@sec.gov.* Please include File Number 265-23 on the subject line; or • Use the Federal eRulemaking Portal ( *http://www.regulations.gov* ). Follow the instructions for submitting comments. Paper Comments • Send paper comments in triplicate to Jonathan G. Katz, Committee Management Officer, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549-0609. All submissions should refer to File Number 265-23. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site ( *http://www.sec.gov/info/smallbus/acspc.shtml* ). Comments are also available for public inspection and copying in the Commission's Public Reference Room, 100 F Street, NE., Washington, DC 20002. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: Questions about this release should be referred to Kevin M. O'Neill, Special Counsel, at

(202)551-3260, or William A. Hines, Special Counsel, at

(202)551-3320, Office of Small Business Policy, Division of Corporation Finance, Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549-0310. SUPPLEMENTARY INFORMATION: At the request of the SEC Advisory Committee on Smaller Public Companies, the Commission is publishing this release soliciting public comments on the issues that the Committee proposes to address. The Commission announced the establishment of the Advisory Committee on December 16, 2004. The Committee was officially established on March 23, 2005, with the filing of its Charter with Congress. The Charter provides that the Committee's objective is to assess the current regulatory system for smaller public companies under the securities laws and make recommendations for changes. The Charter directs the Committee to consider the following areas of inquiry, including the impact in each area of the Sarbanes-Oxley Act of 2002, Pub. L. 107-204, 116 Stat. 745 (July 30, 2002):

(1)Frameworks for internal control over financial reporting applicable to smaller public companies, methods for management's assessment of such internal control, and standards for auditing such internal control;

(2)corporate disclosure and reporting requirements and federally-imposed corporate governance requirements for smaller public companies;

(3)accounting standards and financial reporting requirements applicable to smaller public companies; and

(4)the process, requirements and exemptions relating to offerings of securities by smaller public companies, particularly public offerings. In accordance with these Charter directives, the Committee approved a proposed Committee Agenda at a public meeting held on April 12, 2005. A summary of the Committee Agenda is set forth below. The full text of the Committee Agenda may be found on the Committee's Web page at *http://www.sec.gov/info/smallbus/acspc.shtml* . The Committee Agenda identifies in general terms the subjects that the Committee proposes to address. All interested parties are invited to submit their views, in writing, on any or all of the subjects identified, or on any other matter relating to the current regulatory system for smaller public companies under the securities laws that the Committee should consider addressing. The Committee specifically seeks public comment on the following questions relating to the proposed summary of the Committee Agenda: *Question 1:* Are the subjects identified in the summary of the Committee Agenda the right subjects for the Committee to consider? *Question 2:* Should the Committee consider subjects not identified in the summary of the Committee Agenda in order to properly fulfill its mandate? *Question 3:* Should the Committee not consider some subjects identified in the summary of the Committee Agenda for any reason, such as to conserve resources, to focus resources on other, more critical subjects, or because of the limited length of the Committee's 13-month term? The Committee is interested in receiving comments identifying problems, but is most interested in receiving comments proposing solutions to problems. Summary of Committee Agenda 1. Definition of “Smaller Public Company” 1.1. Develop preliminary observations to be used for analysis of each substantive area under items 2 through 7 below. 1.2. Examine appropriateness of existing definitions. 1.3. How do existing definitions work? Are they meaningful and effective? Are they practical? Is it possible to develop risk-based or other definitions? Seek economic analysis. 2. Internal Control—Section 404 of Sarbanes-Oxley; S-K Item 308, S-X Reg. § 210.2-02(e) 2.1. Evaluate first quarter 2005 reports. 2.1.1. Effective control. • Size/characteristics of company. 2.1.2. Ineffective control. • Size/characteristics of company. • Reasons for failure. • Materiality of failure. 2.2. Evaluate benefits and costs/burdens for smaller public companies, including disproportionate costs/burdens, competitive disadvantages and effectiveness in preventing fraud. 2.2.1. Seek economic input. 2.2.2. Consider impact on “tone at the top.” 2.2.3. Versus private companies and foreign companies. 2.3. Evaluate procedures used in first quarter reports. 2.3.1. Company procedures. 2.3.2. Auditor procedures. 2.3.3. What worked well. 2.3.4. What worked less well or did not work. 2.4. Mechanisms to evaluate. 2.4.1. Questionnaires prepared by FEI, NASDAQ and others. 2.4.2. One or more roundtables held by SEC and PCAOB. 2.4.3. Other written or oral input. 3. Corporate Governance Standards 3.1. Review and catalog. 3.2. Evaluate impact of requiring independent directors for smaller public companies. 3.2.1. Boards themselves and Committees. 3.2.2. Impact on controlling families or other controlling shareholders. 3.2.3. Impact on other stakeholders. 3.2.4. Impact of stakeholders on effectiveness of independent directors. 3.2.5. Loss of market and company knowledge and experience. 3.3. Evaluate impact of independence definitions. 3.3.1. Boards themselves and Committee. 3.3.2. Adequate supply of competent directors. 3.3.3. How are boards/committees performing? 3.3.4. Cost of board operation. 3.3.5. Other. 3.4. Evaluate impact of special requirements on audit committee make-up and operation. 3.4.1. Special independence requirements. 3.4.2. Financial expertise requirements and disclosure requirements. 3.4.3. Loss of operational knowledge, experience and depth. 3.5. Recommendations. 4. Effects of other Statutory Requirements and Commission Regulations, including under Sarbanes-Oxley, on Smaller Public Companies 4.1. Officers' certifications. 4.2. Auditing firm's standards and requirements. 4.3. Prohibition of loans to executive officers and directors. 4.4. Other. 4.5. Recommendations. 5. Disclosure Requirements 5.1. How do disclosure requirements affect smaller public companies? 5.2. Analyze Regulation S-B (including seeking economic input). 5.3. Analyze forms and requirements. 5.3.1. Exchange Act periodic reporting forms (10-K, 10-KSB, 10-Q, 10-QSB). 5.3.2. Special Securities Act forms (SB-1, SB-2). 5.3.3. Are S-B forms helpful, beneficial, effective or negative, both for the issuer and the investor market? 5.4. Identify other aspects of disclosure regime that might be modified for smaller public companies. 5.5. Identify other possible scaling standards. 5.5.1. Is size the most appropriate standard or is risk? 5.5.2. Are revenues a better scaling standard for some disclosure rules and other regulations? 5.5.3. Should other alternatives be considered? 5.6. Liability concerns. 5.7. Consider issues of delinquent and deficient micro-cap disclosure. 5.8. Evaluate the balance of disclosure to protect investors with the competitive needs of smaller public companies. 5.9. Recommendations. 6. Accounting Principles 6.1. Evaluate “one size fits all” vs. “Big GAAP-Little GAAP.” 6.2. Identify priority accounting principles, if any, where modifications might be considered for smaller public companies. 6.3. Emphasize importance of cash in many smaller companies. 6.4. Analyze overlay and impact of other regulatory schemes (financial institutions, insurance, government contractors, *etc.* ). 6.5. Analyze role of outside audit firms with respect to smaller companies, *e.g.* , environmental shift in role of auditors, communications with outside auditors, concentration of Big Four accounting firms, difficulty in switching audit firms. 6.6. Analyze whether extended effective dates for smaller companies are appropriate for future accounting principles. 6.7. Recommend changes, if any. 7. Capital Formation 7.1. Analyze existing structure. 7.2. Analyze selected exemptions from registration and subsequent reporting. 7.3. Evaluate Regulation A. 7.4. Analyze investment banker roles. 7.5. Analyze analysts' coverage. 7.6. Costs and timing to get access to markets. 7.6.1. Broader access to capital, including foreign markets. 7.6.2. Possible roles of capital formation specialists, including brokers and “finders.” 7.7. Cost of and ability to exit the markets. 7.8. Possible improvements in interaction and interplay between federal law or SEC, state laws or state regulators, and self-regulatory organizations and rules ( *e.g.* , Rule 15c2-11). 7.9. Liability issues. 7.10. Recommendations. 8. Small Business Forums and Related Issues 8.1. Analyze recommendations from recent SEC Small Business Forums. 8.2. Review small business statutes (Regulatory Flexibility Act and 1980 Small Business Investment Incentive Act). *General Request for Comment:* Any interested person wishing to submit written comments on any aspect of the summary of the Committee Agenda, as well as on other matters relating to this release, is requested to do so. *Authority:* In accordance with section 10(a) of the Federal Advisory Committee Act, 5 U.S.C. App. 1, § 10(a), Gerald J. Laporte, Designated Federal Officer of the Committee, has approved publication of this release at the request of the Committee. The solicitation of comments is being made solely by the Committee and not by the Commission. The Commission is merely providing its facilities to assist the Committee in soliciting public comment from the widest possible audience. Dated: April 26, 2005. Jonathan G. Katz, Committee Management Officer. [FR Doc. 05-8622 Filed 4-26-05; 3:07 pm]

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