Notices. Notice of Meeting of SEC Advisory Committee on Improvements to Financial Reporting

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BILLING CODE 7590-01-P SECURITIES AND EXCHANGE COMMISSION [Release Nos. 33-8932; 34-57990; File No. 265-24] Advisory Committee on Improvements to Financial Reporting AGENCY: Securities and Exchange Commission. ACTION: Notice of Meeting of SEC Advisory Committee on Improvements to Financial Reporting. SUMMARY: The Securities and Exchange Commission Advisory Committee on Improvements to Financial Reporting is providing notice that it will hold a public meeting on Friday, July 11, 2008, in the Multipurpose Room, Room L-006, at the Commission's main offices, 100 F Street, NE., Washington, DC, beginning at 9:30 a.m.

The meeting will be open to the public. The meeting will be Webcast on the Commission's Web site at *http://www.sec.gov.* The public is invited to submit written statements for the meeting. The agenda for the meeting includes discussion and deliberation of draft recommendations for the Committee's final report to the Commission. The Committee also may discuss written statements received and other matters of concern. DATES: Written statements should be received on or before July 3, 2008.

ADDRESSES: Written statements may be submitted by any of the following methods: Electronic Comments • Use the Commission's Internet submission form ( *http://www.sec.gov/rules/other.shtml* ); or • Send an e-mail to *rule-comments@sec.gov.* Please include File Number 265-24 on the subject line. Paper Comments • Send paper statements in triplicate to Florence Harmon, Acting Federal Advisory Committee Management Officer, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-1090.

All submissions should refer to File No. 265-24. This file number should be included on the subject line if e-mail is used. To help us process and review your statements more efficiently, please use only one method. The Commission staff will post all statements on the Advisory Committee's Web site ( *http://www.sec.gov/about/offices/oca/acifr.shtml* ). Statements also will be available for public inspection and copying in the Commission's Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m.

All statements 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: James L. Kroeker, Deputy Chief Accountant, or Shelly C. Luisi, Senior Associate Chief Accountant, at

(202)551-5300, Office of the Chief Accountant, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549-6561. SUPPLEMENTARY INFORMATION: In accordance with section 10(a) of the Federal Advisory Committee Act, 5 U.S.C. App. 1, § 10(a), James L. Kroeker, Designated Federal Officer of the Committee, has approved publication of this notice. Dated: June 19, 2008. Florence E. Harmon, Acting Committee Management Officer. [FR Doc. E8-14217 Filed 6-23-08; 8:45 am] BILLING CODE 8010-01-P SECURITIES AND EXCHANGE COMMISSION [Release No. 34-57981; File No. SR-NASDAQ-2008-037] Self-Regulatory Organizations; The NASDAQ Stock Market, LLC; Order Approving Proposed Rule Change To Modify Certain of Nasdaq's Initial and Continued Listing Requirements To Replace the Round Lot Requirement in the Minimum Holder Requirements to Either Total or Public Shareholders June 17, 2008. I. Introduction On April 25, 2008, The NASDAQ Stock Market, LLC (“Exchange” or “Nasdaq”) filed with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (“Act”), 1 and Rule 19b-4 thereunder, 2 a proposed rule change to change the shareholder minimum holder requirements for Nasdaq's continued listing standards. The proposed rule change was published in the **Federal Register** on May 13, 2008. 3 The Commission received no comments on the proposal. This order approves the proposed rule change. 1 15 U.S.C. 78s(b)(1). 2 17 CFR 240.19b-4. 3 *See* Securities Exchange Act Release No. 57795 (May 7, 2008), 73 FR 27590. II. Description of the Proposal Nasdaq initial and continued listing standards require a Nasdaq-listed company to meet and maintain, among other things, certain minimum number of round lot holders to demonstrate the security's liquidity. Nasdaq proposes to generally eliminate the requirement of round lot holders and replace it with different requirements, and to adopt new definitions with respect to these proposed changes. A. Nasdaq Global Select Market and Nasdaq Global Market Continued Listing Standards—(1) First Class of Common Stock, Shares or Certificates of Beneficial Interest of Trusts, Limited Partnership Interests in Foreign or Domestic Issues and American Depositary Receipts and

(2)Preferred Stock and Secondary Classes of Common Stock The current minimum requirement for continued listing under the Nasdaq Global Select Market and Nasdaq Global Market is 400 round lot shareholders for common stock and equivalent 4 and 100 round lot shareholders for preferred stock and secondary classes of common stock. 5 Nasdaq proposes to change these requirements to 400 “total” shareholders for common stock and equivalent 6 and 100 “public” shareholders for preferred stock and secondary classes of common stock. 7 4 *See* Nasdaq Rule 4450(a). 5 *See* Nasdaq Rule 4450(h). 6 *See* proposed Nasdaq Rule 4450(a). 7 *See* proposed Nasdaq Rule 4450(h). B. Nasdaq Global Select Market Initial Listing Standards The current minimum requirement for initial listing under the Nasdaq Global Select Market is

(1)a minimum of 550 beneficial shareholders and average monthly trading volume over the previous 12 months of at least 1,100,000 shares per month;

(2)a minimum of 2,200 beneficial shareholders; or

(3)a minimum of 450 beneficial round lot shareholders. 8 Nasdaq proposes to change these holder requirements to:

(1)A minimum of 550 “total” shareholders and average monthly trading volume over the previous 12 months of at least 1,100,000 shares per month;

(2)a minimum of 2,200 “total” shareholders; or

(3)a minimum of 450 “round lot” shareholders. 9 8 *See* Nasdaq Rule 4426(b)(1). 9 *See* proposed Nasdaq Rule 4426(b)(1). C. Nasdaq Capital Market Continued Listing Standards—(1) Domestic and Canadian Securities and

(2)Non-Canadian Foreign Securities and American Depositary Receipts The current minimum requirement for continued listing for domestic and Canadian securities under the Nasdaq Capital Market is 300 round lot holders for common stock and 100 round lot holders for preferred stock and secondary classes of common stock. 10 Nasdaq proposes to change these holder requirements to 300 public holders for common stock and 100 public holders for preferred stock and secondary classes of common stock. 11 10 *See* Nasdaq Rule 4310(c)(6). 11 *See* proposed Nasdaq Rule 4310(c)(6). The current minimum requirement for continued listing for non-Canadian foreign securities and American Depositary Receipts under the Nasdaq Capital Market is 300 round lot holders for common stock and 100 round lot holders for preferred stock and secondary classes of common stock. 12 Nasdaq proposes to change these holder requirements to 300 public holders for common stock and 100 public holders for preferred stock and secondary classes of common stock. 13 12 *See* Nasdaq Rule 4320(e)(4). 13 *See* proposed Nasdaq Rule 4320(e)(4). D. Changes to Definitions Nasdaq also proposes to add a new definition of “public holders” to include beneficial holders and holders of record and exclude any holder who is, either directly or indirectly, an executive officer, director, or the beneficial holder of more than 10% of the total shares outstanding. 14 In addition, Nasdaq proposes to add a new definition of “total holders” to include beneficial holders and holders of record. 15 Finally, Nasdaq proposes to amend the definition of “round lot holder” to clarify that beneficial holders would be considered in addition to holders of record. 16 14 *See* proposed Nasdaq Rule 4200(a)(32). 15 *See* proposed Nasdaq Rule 4200(a)(38). 16 *See* proposed Nasdaq Rule 4200(a)(33). III. Discussion The Commission finds that the proposed rule change is consistent with the requirements of the Act and the rules and regulations thereunder applicable to a national securities exchange and, in particular, the requirements of Section 6(b) of the Act and the rules and regulations thereunder. Specifically, the Commission finds that the proposal is consistent with Section 6(b)(5) of the Act, 17 which requires that an exchange have rules designed, among other things, to promote just and equitable principles of trade, to remove impediments to and perfect the mechanism of a free and open market and a national market system, to protect investors and the public interest, and to not permit unfair discrimination between customers, issuers, brokers, or dealers. 18 17 15 U.S.C. 78f(b)(5). 18 In approving this proposed rule change, the Commission notes that it has considered the proposed rules' impact on efficiency, competition, and capital formation. *See* 15 U.S.C. 78c(f). The development and enforcement of adequate standards governing the initial and continued listing of securities on an exchange is an activity of critical importance to financial markets and the investing public. Listing standards, among other things, serve as a means for an exchange to screen issuers and to provide listed status only to bona fide companies that have or, in the case of an IPO, will have sufficient public float, investor base, and trading interest to provide the depth and liquidity necessary to promote fair and orderly markets. Adequate standards are especially important given the expectations of investors regarding exchange trading and the imprimatur of listing on a particular market. Once a security has been approved for initial listing, maintenance criteria allow an exchange to monitor the status and trading characteristics of that issue to ensure that it continues to meet the exchange's standards for market depth and liquidity so that fair and orderly markets can be maintained. A. Nasdaq Global Select Market and Nasdaq Global Market Continued Listing Standards—(1) First Class of Common Stock, Shares or Certificates of Beneficial Interest of Trusts, Limited Partnership Interests in Foreign or Domestic Issues and American Depositary Receipts and

(2)Preferred Stock and Secondary Classes of Common Stock Nasdaq proposes to change the continued listing standards of the Nasdaq Global Select Market and Nasdaq Global Market shareholder requirements from 400 round lot shareholders to 400 total shareholders, for common stock and equivalent, and from 100 round lot shareholders to 100 public shareholders, for preferred stock and secondary classes of common stock. The Commission believes that the proposal would continue to ensure that securities listed on Nasdaq Global Select and Global Markets would have sufficient liquidity to promote fair and orderly markets. The Commission notes that other listing markets utilize the concept of total shareholders and public shareholders. For example, the New York Stock Exchange (“NYSE”) requires, among other things, 400 total stockholders (record holders and beneficial holders) for continued listing of capital or common stock on NYSE. 19 Further, the American Stock Exchange (“Amex”) requires, among other things, 300 public shareholders for continued listing of common stock on its market. 20 Accordingly, the Commission finds the proposal is consistent with the requirements of the Act. 19 *See* NYSE Listed Company Manual Section 802.01A. 20 *See* Amex Company Guide Section 100(b)(i). B. Nasdaq Global Select Market Initial Listing Standards Nasdaq proposes to change the initial listing standards of the Nasdaq Global Select Market shareholder requirements from:

(1)Minimum of 550 beneficial shareholders and average monthly trading volume over the previous 12 months of at least 1,100,000 shares per month;

(2)minimum of 2,200 beneficial shareholders; or

(3)minimum of 450 beneficial round lot shareholders, to:

(1)Minimum of 550 “total” shareholders and average monthly trading volume over the previous 12 months of at least 1,100,000 shares per month;

(2)minimum of 2,200 “total” shareholders; or

(3)minimum of 450 “round lot” shareholders. The Commission believes that the proposal would ensure that securities to be listed on Nasdaq Global Select Market would have sufficient liquidity to promote fair and orderly markets. The Commission notes that other listing markets utilize the concept of total shareholders and “round lot” shareholders and the changes are similar to certain NYSE requirements 21 Based on the foregoing, the Commission finds the proposal is consistent with the requirements of the Act. 21 *See* NYSE Listed Company Manual Section 102.01A. NYSE initial listing standards require, among other things:

(1)500 total stockholders and average monthly trading volume of 1,000,000 shares for most recent 12 months; or

(2)2,200 total stockholders and average monthly trading volume of 100,000 shares for most recent 6 months; or

(3)400 round lot holders and 1,100,000 shares of publicly held shares, for initial listing on NYSE. C. Nasdaq Capital Market Continued Listing Standards—(1) Domestic and Canadian Securities and

(2)Non-Canadian Foreign Securities and American Depositary Receipts Nasdaq proposes to change the minimum requirement for continued listing for domestic and Canadian securities under the Nasdaq Capital Market from 300 round lot holders for common stock and 100 round lot holders for preferred stock and secondary classes of common stock, to 300 “public” holders for common stock and 100 “public” holders for preferred stock and secondary classes of common stock. In addition, Nasdaq proposes to change the minimum requirement for continued listing for non-Canadian foreign securities and American Depositary Receipts under the Nasdaq Capital Market from 300 round lot holders for common stock and 100 round lot holders for preferred stock and secondary classes of common stock to 300 “public” holders for common stock and 100 “public” holders for preferred stock and secondary classes of common stock. The Commission finds the proposed change to the Nasdaq Capital Market common stock shareholder requirement is substantially similar to the Amex continued listing standards. Amex continued listing standards require, among other things, 300 public shareholders for continued listing. 22 22 *See* Amex Company Guide Section 1003(b)(i)(B). The Commission also finds that the proposed change to the Nasdaq Capital Market preferred stock shareholder requirement is substantially similar to the Nasdaq Global Market preferred stock continued listing standards. Nasdaq Global Market continued listing standards require, among other things, a minimum of 100 round lot shareholders for preferred stock continued listing. 23 While the standards differ, the Commission believes that the proposed 100 public shareholders requirement for preferred stock would continue to ensure, at a minimum, an adequate level of liquidity as the round lot shareholder standard. 23 *See* Nasdaq Rules 4420(k) and 4450(h). D. Changes to Definitions In connection with the proposed changes above, Nasdaq also proposes to add a new definition of “public holders” to include beneficial holders and holders of record and exclude any holder who is, either directly or indirectly, an executive officer, director, or the beneficial holder of more than 10% of the total shares outstanding. In addition, Nasdaq proposes to add a new definition of “total holders” to include beneficial holders and holders of record. Finally, Nasdaq proposes to amend the definition of “round lot holder” to clarify that beneficial holders would be considered in addition to holders of record. As noted earlier, these definitions are used by other exchanges and should help to ensure that Nasdaq's holder requirements will continue to provide an adequate level of liquidity to develop and maintain fair and orderly markets. Accordingly, the Commission finds that the proposed changes are consistent with the requirements of the Act. IV. Conclusion *It is therefore ordered,* pursuant to Section 19(b)(2) of the Act, 24 that the proposed rule change (SR-NASDAQ-2008-037) is hereby approved. 24 15 U.S.C. 78s(b)(2). For the Commission, by the Division of Trading and Markets, pursuant to delegated authority. 25 25 17 CFR 200.30-3(a)(12). Florence E. Harmon, Acting Secretary. [FR Doc. E8-14178 Filed 6-23-08; 8:45 am] BILLING CODE 8010-01-P TENNESSEE VALLEY AUTHORITY Final Environmental Impact Statement—Rutherford-Williamson-Davidson Power Supply Improvement Project AGENCY: Tennessee Valley Authority (TVA). ACTION: Issuance of Record of Decision. SUMMARY: This notice is provided in accordance with the Council on Environmental Quality's regulations (40 CFR parts 1500 to 1508) and TVA's procedures implementing the National Environmental Policy Act. TVA has decided to implement the preferred alternative identified in its Final Environmental Impact Statement (EIS), Rutherford-Williamson-Davidson Power Supply Improvement Project. In implementing Alternative 2, TVA has decided to construct and operate the new 500-kV Rutherford Substation, the 27-mile 500-kV transmission line between TVAs 500-kV Maury Substation and the new Rutherford Substation, the new 9-mile 161-kV transmission line between the new Rutherford Substation and Middle Tennessee Electric Membership Corporations (MTEMC) Almaville Substation, and the new 15-mile 161-kV transmission line between the new Rutherford Substation and MTEMCs Christiana Substation. FOR FURTHER INFORMATION CONTACT: Anita E. Masters, Senior NEPA Specialist, Environmental Stewardship and Policy, Tennessee Valley Authority, 1101 Market Street, LP 5U, Chattanooga, Tennessee 37402; telephone

(423)751-8697 or e-mail *aemasters@tva.gov* . SUPPLEMENTARY INFORMATION: TVA owns and operates a system of transmission lines that move electricity throughout the TVA service area, which comprises most of Tennessee and portions of six adjacent states, and to adjacent utilities. The electrical load growth in Rutherford, Williamson, and Maury Counties, Tennessee, will exceed the capacity of the three 500-kV substations and several of the 161-kV transmission lines serving the area by 2010. Unless action is taken to address this problem, TVAs ability to continue to provide reliable electric service will be degraded and disrupted more frequently and for longer periods. Therefore, TVA needs to increase transmission capacity in this area. TVA published a Notice of Intent to prepare this EIS in the **Federal Register** on July 1, 2005. A public scoping meeting was held in July 2005 and attended by about 25 people. Written scoping comments were received from two federal agencies, five state agencies, and several individuals. The Notice of Availability of the Draft EIS was published in the **Federal Register** on October 5, 2007. TVA held a public meeting on the Draft EIS in October 2007 and accepted comments through mid-November. During the development of the EIS, TVA also accepted comments received during an open house held in April 2006 to review potential substation sites and transmission line routes. Comments on the Draft EIS were received from about 22 members of the public and agencies. Appendix B of the Final EIS contains comments TVA received on the Draft EIS and responses to those comments. The Notice of Availability for the Final EIS was published in the **Federal Register** on April 18, 2008. Alternatives Considered TVA uses a detailed, comprehensive siting process when it plans its transmission line projects. This is an iterative process that takes into account important environmental and cultural resource features that become constraints on locating proposed lines. Concerns of potentially affected landowners are also actively addressed during this process to reduce or avoid landowner impacts. Broad study corridors are initially defined and potential line routes are subsequently located within the study corridors. Because transmission line right-of-ways

(ROWs)are much narrower than the study corridors, important features that are associated with specific corridors can often be avoided when final line routes are selected. Potential environmental impacts are considered and addressed throughout this siting process with the objective of formulating alternative line routes, including a preferred route, that meet the purpose and need for the proposed action while avoiding or reducing potential impacts. The identified preferred route is then subjected to additional study and analyses. TVA uses a similar process in identifying substation sites. TVA initially identified four solutions (possible alternatives) to meet the project need. *These consisted of:*

(1)Construct and operate a new 500-kV substation in southwest Rutherford County, and construct and operate 25-30 miles of 500-kV transmission line on vacant, TVA-owned ROW, and about 24 miles of new 161-kV transmission lines in Rutherford, Maury, and Williamson Counties;

(2)construct and operate a new 500-kV substation in northeast Williamson County near Brentwood and upgrade about 126 miles of existing 161-kV transmission lines in Davidson, Rutherford, Williamson, Sumner, Coffee, Franklin, and Bedford Counties;

(3)expand TVAs Pinhook 500-kV Substation in southeast Davidson County and upgrade about 134 miles of existing 161-kV transmission lines in Davidson, Rutherford, Williamson, Sumner, Wilson, Franklin, and Bedford Counties; and

(4)rely on load management and conservation by achieving a reduction in current peak loads by at least 800 megawatts. Further evaluation of these four potential solutions concluded that only the first would be able to meet the project need. The other two construction solutions had higher overall costs, engineering problems, and problems meeting the 2010 in-service date because of the limited times when the existing transmission lines could be taken out of service for upgrading. Although TVA has recently committed to achieving a system-wide reduction in peak demand growth of 1,400 MW by 2012, the amount of load reduction achievable in the project area by 2010 is not sufficient for the load management/conservation solution to meet the purpose and need. TVA subsequently addressed two alternatives in further detail in the EIS. Under Alternative 1, the No Action Alternative, TVA would not address the forecast high-voltage transmission capacity problem by implementing any of the potential solutions identified above. This would make existing electrical supplies unstable and increase likelihood of both planned and unplanned power outages (brownouts/blackouts) in the Middle Tennessee area as the demand continued to grow. Under Alternative 2, TVA would construct and operate a new 500-kV substation in southwest Rutherford County and associated 500-kV and 161-kV transmission lines. The preferred locations for these facilities were determined through a rigorous siting process, which included evaluations of natural and cultural features, land use, engineering attributes, and cost. The substation would be located on Coleman Hill Road, about 4 miles east of U.S. Alternate Highway 31/41. A 27-mile 500-kV transmission line would be built on vacant, TVA-owned ROW between TVAs existing Maury 500-kV Substation and the proposed new substation. A 9-mile 161-kV transmission line would connect the new substation to MTEMCs existing Almaville 161-kV Substation; 6 miles of this line would be on vacant TVA-owned ROW, and the remainder would be on new ROW. A 15-mile 161-kV transmission line on new ROW would connect the new substation to MTEMCs existing Christiana 161-kV Substation. The proposed substation would occupy a 53-acre site and about 40 acres of it would be cleared and graded. Major substation components include 500-161-kV transformers, circuit breakers, connecting bus work, supporting steel superstructure, ground wire towers, microwave communication tower, spill retention basins and retention pond or tank, switch house, and equipment storage building, enclosed by a security fence. The proposed 500-kV transmission line would use self-supporting galvanized, laced steel structures about 85 to 125 feet tall. The average distance between structures would be about 1000 feet. The electrical conductors would consist of three sets of three cables suspended beneath the structure cross-arms by insulators. The proposed 161-kV transmission lines would use either single or double steel-pole structures 80 to 110 feet tall and three single-cable conductors suspended beneath cross-arms by insulators. Most of the ROW for the 500-kV transmission line would be 175 feet wide; about two miles of the ROW near the proposed substation would be 425 feet wide to accommodate parallel lower voltage lines. For ROW it does not already own, TVA would purchase easements from landowners. Because of the need to maintain adequate clearance between tall vegetation and the transmission line conductors, as well as to provide access for construction equipment, most trees and shrubs would initially be removed from the entire width of the ROW. Trees outside of the ROW which are tall enough to pass within 10 feet of a conductor if they fell towards the line would also be removed. Following line construction, the ROW would be revegetated with low-growing plants. The ROW can be used by the landowner for many purposes that do not interfere with the maintenance and operation of the line. TVA would periodically inspect and conduct maintenance activities on the completed line. The major maintenance activity is vegetation management, conducted to maintain adequate clearance around the conductors. This would consist of both felling tall trees adjacent to the ROW and control of vegetation within the ROW. Management of vegetation within the ROW would use an integrated vegetation management approach based primarily on mechanical mowing and herbicide application. Comments on the Final EIS TVA received comments on the Final EIS from two State and two Federal Government agencies. The Environmental Protection Agency

(EPA)requested a comparison of the number of stream crossings potentially affected by the various alternative solutions. Although TVA did not conduct detailed field surveys of the Pinhook and Brentwood alternative solutions and thus cannot compare the number of potentially affected stream crossings with the same accuracy available for the Rutherford solution, the Pinhook and Brentwood solutions would potentially affect more stream crossings because they both involve over twice the length of transmission lines. The potential impacts to individual stream crossings under the Pinhook and Brentwood solutions, however, would likely be less because the transmission lines and most of the potential access roads already exist and there would be little to no clearing of new ROWs. EPA commented on the discussion of potential impacts to wetlands in the Final EIS and noted that conversion of forested wetlands is impactful given the loss of forest habitat and fragmentation of contiguous habitat. TVA agrees with this and notes that the 2.3 acres of forested wetlands that would be converted to scrub-shrub wetlands under the selected alternative occur is several disjunct tracts associated with previously fragmented forests. EPA requested additional information on the anticipated relocation and proximity of homes, schools, and churches to the proposed transmission lines, as well as the potential environmental justice impacts. Two mobile homes and one occupied house occur entirely within the TVA-owned ROW to be used for the 500-kV line, and a vacant brick house is partially within this ROW. All of these buildings would be relocated. Two fairly new brick houses slightly extend onto this ROW; TVA has determined that they would not have to be removed and will likely issue their owners a permit for the occupancy of the ROW and add an associated covenant to their deeds. One vacant house in a state of disrepair is on one of the 161-kV FOWs and would be removed. No occupied buildings are on or in the immediate vicinity of the substation site. Six churches occur near the route of the 500-kV line; their closest and average distances from the ROW are 500 and 2,500 feet, respectively. The closest school to any of the facilities is an elementary school 3,000 feet from a 161-kV line. The closest churches are 400 and 1,200 feet from a 161-kV line. Relative to the three project area counties, the proportions of the overall population of the 12 adjacent surrounding counties classified as minority or below the poverty level vary greatly and are, on average, higher. EPA requested spot monitoring of electromagnetic fields

(EMF)in the vicinity of nearby residences. TVA does not intend to conduct EMF monitoring; TVA will, however, measure EMF field strength if requested to do so by adjacent property owners. Based on the design of the 500-kV transmission line and EMF measurements at other similar lines, TVA expects the EMF field strength under the maximum design electrical load at the edge of the 500-kV ROW to be significantly less than the Florida standards of 150 milligauss for lines 230-kV or less and 200 milligauss for lines 500-kV lines or more cited in the Final EIS. The Department of the Interior (DOI), Office of Environmental Policy and Compliance resubmitted the comments it had sent on the Draft EIS and which TVA had inadvertently failed to address in the Final EIS. DOI requested supporting references for many statements of fact and field survey descriptions. DOI also requested more specific information on the implementation of best management practices(BMPs). Some of this detailed implementation information is listed in Appendices H and J of the Final EIS, which describe the streamside management zone to be established along each watercourse. Additional BMP implementation details are listed in the stormwater pollution prevention plans for the various project components. TVAs BMP manual, cited as Muncy

(1999)in the Final EIS, is available on the TVA Web site, *www.tva.com* . Decision TVA has decided to implement the preferred alternative identified in the Final EIS, Alternative 2. Of the two alternatives evaluated in the Final EIS, Alternative 1—No Action and Alternative 2, only Alternative 2 would meet the purpose and need. TVA used an iterative process to define Alternative 2; this process first considered other potential solutions and then considered various potential alternative substation locations and transmission line routes for the preferred alternative. The substation location and transmission line routes were identified as part of Alternative 2 after being evaluated for engineering and construction, ecological, cultural, line length, and land use criteria. The substation site and transmission line routes were then further modified to minimize effects on individual landowners as well as effects on natural and cultural resources. This effort continued TVAs consideration of potential environmental impacts that occurred during the consideration of other possible solutions (alternatives) to the purpose and need here. The Tennessee State Historic Preservation Officer has concurred with TVAs determination that Alternative 2, with the implementation of mitigation measures described in a Memorandum of Agreement and other measures listed in the Final EIS, would not adversely affect any archaeological or historic sites eligible for or listed in the National Register of Historic Places. The U.S. Fish and Wildlife Service has concurred with TVAs determination that Alternative 2, with the implementation of mitigation measures listed in the Final EIS, would not adversely affect species listed under the Endangered Species Act or adversely modify designated critical habitat. Environmentally Preferred Alternative Alternative 1 No Action is the environmentally preferred alternative because the impacts associated with constructing and operating the substation and associated transmission lines would not occur. This alternative, however, would result in the risk of the loss of electrical service to a large area of Middle Tennessee with a total load of over 4000 megawatts and is considered unreasonable. The loss of this electrical service would result in social and economic impacts. Alternative 2 has been designed to minimize environmental impacts as much as is feasible. While some or all of the other three potential solutions analyzed early in the development of this project could have resulted in less environmental impacts than Alternative 2, none of these solutions would have met the purpose and need and thus they were not considered reasonable alternatives. Environmental Commitments For the reasons discussed in the Final EIS and summarized here, TVA is committing to the following measures to avoid, reduce, or mitigate the potential environmental impacts associated with these actions: • No herbicides with groundwater protection warnings will be used in the sections of the Maury Transmission Line between Double Branch and Double Branch Road, Greens Mill Road and Cornstock Road, and Cross Keys Flat to Boon Creek. No fertilizers will be used in the groundwater source protection zone from Windrow Road to the end of the Maury Transmission Line study area, and neither herbicides nor fertilizers will be used in the section of the Maury Transmission Line from Windrow Road to Arno-Allisona Road. • No herbicides with groundwater protection warnings and no fertilizers will be used in the sections of the Almaville Transmission Line from where the ROW intersects the existing Murfreesboro-East Franklin Transmission Line north to where the Almaville Transmission Line turns to the west. • No herbicides with groundwater protection warnings and no fertilizers will be used in the section of the Christiana Transmission Line within 500 feet of the entrance to Nanna Cave. • Should groundwater conduits be discovered within the TVA transmission line ROW at a later date that affect the stream at Snail Shell Cave or Nanna Cave, TVA will modify its construction and maintenance procedures to eliminate herbicide use in the conduit areas. • Globally rare glade habitat areas will be marked on the transmission line and access road engineering design specification drawings that will be used during the design, construction, and maintenance activities along the transmission line. • During the construction and maintenance of the transmission lines, TVA will avoid the areas associated with the globally rare glade habitats. Unless there is no practical alternative, structure placement and access roads will be designed strategically to avoid these areas. The glade areas will be fenced during construction to ensure further avoidance. • Vegetation management in globally rare glade habitats will be accomplished through mechanical clearing and no herbicides will be used in these areas. • No herbicide spraying or mechanical clearing will occur within a 500-foot radius of the entrance to Nanna Cave during the construction and maintenance of the transmission lines to avoid impacts caused by pollution from chemicals and sedimentation from disturbed soil. This area will be hand cleared only (chainsaws may be used, but not heavy equipment). All vehicles and heavy equipment will be restricted from the area unless confined to existing access roads. If the placement of a pole in this buffer or in the area of this route crossing a subterranean section of the Snail Shell Cave System was unavoidable, no blasting will be used during its installation. • To minimize potential impacts to aquatic habitats and aquatic life, including federally or state-listed species, BMPs as outlined in Muncy

(1999)will be applied to all construction and maintenance activities. Additionally, all intermittent and perennial streams were assigned a Category A protection level (Final EIS Appendix J) and will be provided additional protective measures as defined in Final EIS Appendix H and Muncy (1999). • Areas with state-listed plant species will be included in the transmission line and access road engineering design specification drawings used during the design, construction, and maintenance of the transmission line. During construction and maintenance, TVA will avoid the areas occupied by the state-listed plants. Unless there is no practical alternative, structures will be placed to avoid impacting these areas. Additionally, unless there is no practical alternative, access roads and the associated vehicle traffic will be excluded from these areas. These areas will be fenced during construction. Vegetation management in these areas will be accomplished through mechanical clearing, and no herbicides will be applied in them. • The location of the toothache tree population along the Maury Transmission Line ROW will be included on the engineering design specification drawings for use during the design, construction, and maintenance of the transmission line. TVA will clear the ROW between November and March when the plant is dormant; shear-clearing (bulldozing) methods will not be used. Vegetation management in the area will be accomplished by mechanical clearing ( *e.g.* , mowing). Herbicides will not be used in this area. • The location of the Alabama snow-wreath population will be included on the engineering design specification drawings for use during the design, construction, and maintenance of the transmission line. All construction occurring within 200 feet of the Alabama snow-wreath population will be strictly confined to areas within the Christiana Transmission Line ROW. In addition, fencing will be erected along the edge of the ROW during construction to ensure impacts to Alabama snow-wreath are avoided. Vegetation management within 200 feet of the snow-wreath population will be accomplished by mechanical clearing, and herbicides will not be used in this area. • The location of Pynes ground-plum will be marked on the engineering design specification drawings for use during the design, construction, and maintenance of the transmission line. Vehicles, construction equipment, and unnecessary personnel will strictly be prohibited from disturbing the population. This will be accomplished by explicitly instructing construction crews to remain on the Christiana Transmission Line ROW in the immediate vicinity of the population and to avoid any activity in this area (felling trees, grading, inadvertently accessing the site with vehicles, etc.) that will alter the habitat. In addition, fencing will be erected along the edge of the ROW during construction to ensure impacts to Pynes ground-plum are avoided. Vegetation management within 500 feet of the ground-plum population will be accomplished by mechanical clearing; herbicides will not be used in this area. • Prior to the transmission line construction clearing, TVA will contract with the state of Tennessee to treat all tree-of-heaven within the proposed Almaville Transmission Line ROW to reduce the risk of spreading within the designated critical habitat. This will be accomplished by using a basal bark application of Garlon 4 herbicide before trees are cleared from the proposed ROW. The tank mixture will consist of a 20 percent Garlon 4/80 percent carrier solution of specially formulated vegetable oil. Using a backpack sprayer, herbicide will be applied to the trunk of each tree-of-heaven stem from ground level to 18 inches high. All areas of the trunk in this band will be thoroughly wetted with herbicide. • Timber harvesting for ROW clearing in six areas of moderately suitable habitat for the Indiana bat will take place between October 15 and March 31. • To minimize potential impacts to the gray bat, a 500-foot-radius buffer at the entrance to Nanna Cave and standard BMPs at all stream crossings (Muncy 1999) will be implemented during the construction and maintenance of the transmission lines. • Access roads that contain habitat for federally and state-listed species will be resurveyed during the growing season prior to use for any ROW construction or clearing. Should an occurrence(s) be found within the area encompassing any of the access roads as proposed, the occurrence(s) will be avoided by either rerouting the access road or not using that particular access road. Any new roads that will be considered as alternatives will also be surveyed before their use. • In order to avoid adverse effects to archaeological site 40WM35, TVA will not place transmission line structures within the site or cause other ground disturbance of the site. If impacts to the site cannot be avoided in this manner, TVA will conduct further Phase II archaeological testing to identify locations for structure placement that will not adversely affect the site. • Archaeological sites 40RD280 and 40RD281 will be avoided by the rerouting of a section of the Christiana Transmission Line. • TVA will implement the treatment measures necessary to mitigate adverse effects on two historic sites, the William Allison house and the Smithson-McCall farm. As described in a Memorandum of Agreement developed between TVA, the Tennessee State Historical Preservation Officer, and other interested parties (Appendix B-1), these measures include minimizing the number and height of the structures within the line-of-site and the use, where possible, of vegetative screening measures at the landowners request. Dated: June 5, 2008. Jacinda B. Woodword, Interim Vice President, Electric System Projects. [FR Doc. E8-14146 Filed 6-23-08; 8:45 am] BILLING CODE 8120-08-P DEPARTMENT OF TRANSPORTATION Surface Transportation Board [STB Docket No. AB-33 (Sub-No. 264X)] Union Pacific Railroad Company—Abandonment Exemption—in Saline County, MO Union Pacific Railroad Company

(UP)has filed a notice of exemption under 49 CFR 1152 Subpart F— *Exempt Abandonments* to abandon the Marshall Industrial Lead, a 6.2-mile line of railroad, extending from milepost 0.0 to milepost 2.2, in Saline County, MO. 1 The line traverses United States Postal Service Zip Code 65340. 1 This description is derived from the 1918 Missouri Pacific Railroad Company valuation map showing the line as being from survey station 0+00 at the connection with the River Subdivision, hereinafter equaling milepost 0.0, to survey station 116+59 at the connection with Kansas City Southern (KCS), hereinafter equaling milepost 2.2, in and around Marshall. UP has certified that:

(1)No local traffic has moved over the line for at least 2 years;

(2)there is no overhead traffic on the line;

(3)no formal complaint filed by a user of rail service on the line (or by a state or local government entity acting on behalf of such user) regarding cessation of service over the line either is pending with the Board or with any U.S. District Court or has been decided in favor of complainant within the 2-year period; and

(4)the requirements at 49 CFR 1105.7 (environmental report), 49 CFR 1105.8 (historic report), 49 CFR 1105.11 (transmittal letter), 49 CFR 1105.12 (newspaper publication), and 49 CFR 1152.50(d)(1) (notice to governmental agencies) have been met. As a condition to this exemption, any employee adversely affected by the abandonment shall be protected under *Oregon Short Line R. Co.—Abandonment—Goshen,* 360 I.C.C. 91 (1979). To address whether this condition adequately protects affected employees, a petition for partial revocation under 49 U.S.C. 10502(d) must be filed. Provided no formal expression of intent to file an offer of financial assistance

(OFA)has been received, this exemption will be effective on July 24, 2008, unless stayed pending reconsideration. Petitions to stay that do not involve environmental issues, 2 formal expressions of intent to file an OFA under 49 CFR 1152.27(c)(2), 3 and trail use/rail banking requests under 49 CFR 1152.29 must be filed by July 7, 2008. Petitions to reopen or requests for public use conditions under 49 CFR 1152.28 must be filed by July 14, 2008, with: Surface Transportation Board, 395 E Street, SW., Washington, DC 20423-0001. 2 The Board will grant a stay if an informed decision on environmental issues (whether raised by a party or by the Board's Section of Environmental Analysis

(SEA)in its independent investigation) cannot be made before the exemption's effective date. *See Exemption of Out-of-Service Rail Lines* , 5 I.C.C.2d 377 (1989). Any request for a stay should be filed as soon as possible so that the Board may take appropriate action before the exemption's effective date. 3 Each OFA must be accompanied by the filing fee, which currently is set at $1,300. *See* 49 CFR 1002.2(f)(25). A copy of any petition filed with the Board should be sent to UP's representative: Mack H. Shumate, Jr., 101 North Wacker Drive, Room 1920, Chicago, IL 60606. If the verified notice contains false or misleading information, the exemption is void *ab initio.* UP has filed a combined environmental and historic report addressing the effects, if any, of the abandonment on the environment and historic resources. SEA will issue an environmental assessment

(EA)by June 27, 2008. Interested persons may obtain a copy of the EA by writing to SEA (Room 1100, Surface Transportation Board, Washington, DC 20423-0001) or by calling SEA, at

(202)245-0305. [Assistance for the hearing impaired is available through the Federal Information Relay Service

(FIRS)at 1-800-877-8339.] Comments on environmental and historic preservation matters must be filed within 15 days after the EA becomes available to the public. Environmental, historic preservation, public use, or trail use/rail banking conditions will be imposed, where appropriate, in a subsequent decision. Pursuant to the provisions of 49 CFR 1152.29(e)(2), UP shall file a notice of consummation with the Board to signify that it has exercised the authority granted and fully abandoned the line. If consummation has not been effected by UP's filing of a notice of consummation by June 24, 2009, and there are no legal or regulatory barriers to consummation, the authority to abandon will automatically expire. Board decisions and notices are available on our Web site at “ *http://www.stb.dot.gov.* ” By the Board, Joseph H. Dettmar, Acting Director, Office of Proceedings. Decided: June 18, 2008. Anne K. Quinlan, Acting Secretary. [FR Doc. E8-14102 Filed 6-23-08; 8:45 am] BILLING CODE 4915-01-P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Proposed Information Collection; Comment Request AGENCY: Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comment. SUMMARY: The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning its information collection titled, “Fair Housing Home Loan Data System Regulation—12 CFR 27.” DATES: You should submit your comments by August 25, 2008. ADDRESSES: You should direct all written comments to: Communications Division, Office of the Comptroller of the Currency, Public Information Room, Mailstop 1-5, Attention: 1557-0159, 250 E Street, SW., Washington, DC 20219. In addition, comments may be sent by fax to

(202)874-4448, or by electronic mail to *regs.comments@occ.treas.gov* . You can inspect and photocopy the comments at the OCC's Public Information Room, 250 E Street, SW., Washington, DC 20219. You can make an appointment to inspect the comments by calling

(202)874-5043. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling

(202)874-5043. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in order to inspect and photocopy comments. Additionally, you should send a copy of your comments to OCC Desk Officer, 1557-0159, by mail to U.S. Office of Management and Budget, 725 17th Street, NW., #10235, Washington, DC 20503, or by fax to

(202)395-6974. FOR FURTHER INFORMATION CONTACT: You can request additional information from Mary Gottlieb, OCC Clearance Officer,

(202)874-5090, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, 250 E Street, SW., Washington, DC 20219. SUPPLEMENTARY INFORMATION: The OCC is proposing to revise the following information collection: *Title:* Fair Housing Home Loan Data System Regulation—12 CFR 27. *OMB Control No.:* 1557-0159. *Description:* The Fair Housing Act (42 U.S.C. 3605) prohibits discrimination in the financing of housing on the basis of race, color, religion, sex, or national origin. The Equal Credit Opportunity Act (15 U.S.C. 1691 *et. seq* .) prohibits discrimination in any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, age, receipt of income from public assistance, or exercise of any right under the Consumer Credit Protection Act. The OCC is responsible for ensuring that national banks comply with those laws. This information collection is needed to promote national bank compliance and for OCC to fulfill its statutory responsibilities. The information collection requirements in 12 CFR part 27 are as follows: • Section 27.3(a) requires a national bank that is required to collect data on home loans under 12 CFR part 203 to present the data on Federal Reserve Form FR HMDA-LAR, 1 or in automated format in accordance with the HMDA-LAR instructions, and to include one additional item (the reason for denial) on the HMDA-LAR. Section 27.3(a) also lists exceptions to the HMDA-LAR recordkeeping requirements. 1 Loan Application Register, *http://www.ffiec.gov/hmda/doc/hmdalar2007.doc* . • Section 27.3(b) lists the information banks should obtain from an applicant as part of a home loan application, and states information that a bank must disclose to an applicant. • Section 27.3(c) sets forth additional information required to be kept in the loan file. • Section 27.4 states that the OCC may require a national bank to maintain a Fair Housing Inquiry/Application Log found in Appendix III to part 27 if there is reason to believe that the bank is engaging in discriminatory practices or if analysis of the data compiled by the bank under the Home Mortgage Disclosure Act (12 U.S.C. 2801 *et. seq.* ) and 12 CFR part 203 indicates a pattern of significant variation in the number of home loans between census tracts with similar incomes and home ownership levels differentiated only by race or national origin. • Section 27.5 requires a national bank to maintain the information required by § 27.3 for 25 months after the bank notifies the applicant of action taken on an application, or after withdrawal of an application. • Section 27.7 requires a national bank to submit the information required by §§ 27.3(a) and 27.4 to the OCC upon its request, prior to a scheduled examination using the Monthly Home Loan Activity Format form in Appendix I to part 27 and the Home Loan Data Form in Appendix IV to part 27. *Type of Review:* Revision of a currently approved collection. *Affected Public:* Businesses or other for-profit. *Estimated Number of Respondents:* 1,712. *Estimated Total Annual Responses:* 2,871. *Estimated Frequency of Response:* On occasion. *Estimated Time per Respondent:* 2.68 hours. *Estimated Total Annual Burden:* 4,595.84 hours. Comments submitted in response to this notice will be summarized and included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on:

(a)Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information has practical utility;

(b)The accuracy of the agency's estimate of the burden of the collection of information;

(c)Ways to enhance the quality, utility, and clarity of the information to be collected;

(d)Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and

(e)Estimates of capital or startup costs and costs of operation, maintenance, and purchase of services to provide information. Dated: June 16, 2008. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division. [FR Doc. E8-14169 Filed 6-23-08; 8:45 am] BILLING CODE 4810-33-P DEPARTMENT OF THE TREASURY Office of Thrift Supervision Joint-Federal Retirement Thrift Investment Board/Employee Thrift Advisory Counsil Meeting; Sunshine Act; Notice of Meeting Time and Date: 9 a.m. (Eastern Time), June 30, 2008. Place: 2nd Floor Training Room, 1250 H Street, NW., Washington, DC 20005. Status: Parts will be open to the public and parts closed to the public. Matters to be Considered: Parts Open to the Public 1. Approval of the minutes of the May 19, 2008 Board member meeting. 2. Approval of the minutes of the December 19, 2007 ETAC meeting. 3. Thrift Savings Plan activity report by the Executive Director. a. Participant Activity Report. b. Investment Performance Report. 4. New Business. a. TSP System Modernization. b. Congressional discussion draft on

(1)automatic enrollment,

(2)L Fund default option,

(3)Roth account option,

(4)Board authority to add funds or create a self-directed mutual fund window. c. Allowing a spousal beneficiary to inherit and maintain a TSP account. Parts Closed to the Public 5. Procurement/Confidential Vendor Financial Data. 6. Security. FOR MORE INFORMATION CONTACT: Thomas J. Trabucco, Director, Office of External Affairs,

(202)942-1640. Dated: June 19, 2008. Thomas K. Emswiler, Secretary, Federal Retirement Thrift Investment Board. [FR Doc. 08-1383 Filed 6-20-08; 8:47 am]

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