Unknown. Final rule; delay of effective date and request for comment
2,246 words·~10 min read·
/register/2017/05/02/2017-08810·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
--- schema: federal-register doc_type: fedreg source_file: FR-2017-05-02.xml --- 82 83 Tuesday, May 2, 2017 Contents Agriculture Agriculture Department See Rural Business-Cooperative Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 20456-20457 2017-08788 Agency Information Collection Activities; Proposals, Submissions, and Approvals; Correction, 20457 2017-08847 Antitrust Division Antitrust Division NOTICES Changes under National Cooperative Research and Production Act:
Cooperative Research Group on ROS-Industrial Consortium-Americas, 20488 2017-08852 IMS Global Learning Consortium, Inc., 20488 2017-08850 Medical CBRN Defense Consortium, 20488-20489 2017-08849 PXI Systems Alliance, Inc., 20489 2017-08851 Centers Medicare Centers for Medicare & Medicaid Services NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 20481-20482 2017-08848 Civil Rights Civil Rights Commission NOTICES Meetings: Colorado Advisory Committee, 20457-20458 2017-08802 Coast Guard Coast Guard RULES Drawbridge Operations:
New Jersey Intracoastal Waterway, Atlantic City, NJ, 20442 2017-08827 Security Zones: Schuylkill River, Philadelphia, PA, 20442-20444 2017-08819 Commerce Commerce Department See International Trade Administration See National Oceanic and Atmospheric Administration Education Department Education Department NOTICES Applications for New Awards: Technical Assistance and Dissemination to Improve Services and Results for Children with Disabilities—National Technical Assistance Center for Inclusive Practices and Policies, 20461-20469 2017-08780 Energy Department Energy Department See Federal Energy Regulatory Commission Federal Aviation Federal Aviation Administration PROPOSED RULES Airworthiness Directives:
Bombardier, Inc. Airplanes, 20453-20455 2017-08830 The Boeing Company Airplanes, 20450-20453 2017-08831 Federal Communications Federal Communications Commission NOTICES Procedures for Submitting Financial Information Required for the Disbursement of Incentive Payments and Reimbursement Payments After the Incentive Auction Closes, 20478-20480 2017-08816 Federal Election Federal Election Commission NOTICES Meetings; Sunshine Act, 20480-20481 2017-08912 Federal Energy Federal Energy Regulatory Commission NOTICES Agency Information Collection Activities;
Proposals, Submissions, and Approvals, 20473-20476 2017-08800 2017-08808 Combined Filings, 20472-20473, 20477-20478 2017-08795 2017-08796 2017-08798 2017-08801 2017-08806 Declaratory Orders; Petitions: Nogales Transmission, LLC; Nogales Frontier Operations, LLC, 20478 2017-08807 Environmental Assessments; Availability, etc.: Columbia Gas Transmission, LLC; Eastern Panhandle Expansion Project, 20470-20472 2017-08797 Initial Market-Based Rate Filings Including Requests for Blanket Section 204 Authorizations:
World Fuel Services, Inc., 20474-20475 2017-08799 Federal Highway Federal Highway Administration NOTICES Federal Agency Actions: Colorado Proposed Highways, 20529-20530 2017-08707 Federal Railroad Federal Railroad Administration NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 20530-20531 2017-08792 Geological Geological Survey NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 20486 2017-08782 Health and Human Health and Human Services Department See Centers for Medicare & Medicaid Services See National Institutes of Health NOTICES Meetings:
Physician-Focused Payment Model Technical Advisory Committee, 20482 2017-08846 Homeland Homeland Security Department See Coast Guard NOTICES Meetings: President's National Security Telecommunications Advisory Committee, 20485-20486 2017-08823 Interior Interior Department See Geological Survey See Land Management Bureau Internal Revenue Internal Revenue Service NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery, 20534 2017-08839 Preparer Tax Identification Number
(PTIN)Supplemental Application for Foreign Persons Without a Social Security Number, 20533-20534 2017-08838 International Trade Adm International Trade Administration NOTICES Antidumping or Countervailing Duty Investigations, Orders, or Reviews: Tow-Behind Lawn Groomers and Parts Thereof from the People's Republic of China, 20458-20459 2017-08824 Export Trade Certificates of Review: Florida Citrus Exports, L.C., 20459 2017-08832 Justice Department Justice Department See Antitrust Division See National Institute of Corrections See National Institute of Justice NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Notice of Entry of Appearance as Attorney or Representative Before the Board of Immigration Appeals, 20489 2017-08821 Land Land Management Bureau NOTICES Public Land Orders: Transfer of Administrative Jurisdiction, Chocolate Mountain Aerial Gunnery Range; California, 20486-20488 2017-08853 Legal Legal Services Corporation RULES Fee-Generating Cases, 20444-20447 2017-08835 NOTICES Proposed Revisions to the Grant Terms and Conditions (Formerly the LSC Grant Assurances): Grant Year 2018 Basic Field Grants, 20491-20492 2017-08834 National Highway National Highway Traffic Safety Administration NOTICES Petitions for Import Eligibility: Nonconforming Model Year 2010 Lamborghini Murcielago Passenger Cars, 20532-20533 2017-08845 National Institute Corrections National Institute of Corrections NOTICES Charter Renewals: National Institute of Corrections Advisory Board, 20490 2017-07554 National Institute Justice National Institute of Justice NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Proposed Study—Historically Black Colleges and Universities Sexual Violence Climate Survey Project, 20490-20491 2017-08822 National Institute National Institutes of Health NOTICES Meetings: Center for Scientific Review, 20483 2017-08783 National Human Genome Research Institute, 20483-20484 2017-08784 National Institute on Minority Health and Health Disparities, 20482-20483 2017-08785 2017-08786 National Toxicology Program Board of Scientific Counselors, 20484-20485 2017-08836 National Oceanic National Oceanic and Atmospheric Administration RULES Atlantic Highly Migratory Species: Commercial Blacktip Sharks, Aggregated Large Coastal Sharks, and Hammerhead Sharks in the Western Gulf of Mexico Sub-Region; Closure, 20447-20449 2017-08833 NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals, 20461 2017-08837 Meetings: Council Coordination Committee, 20459-20460 2017-08825 South Atlantic Fishery Management Council, 20460 2017-08820 Nuclear Regulatory Nuclear Regulatory Commission NOTICES Applications and Amendments to Facility Operating Licenses and Combined Licenses Involving Proposed No Significant Hazards Considerations and Containing Sensitive Unclassified Non-Safeguards Information and Order Imposing Procedures for Access to Sensitive Unclassified Non-Safeguards Information, 20493-20500 2017-08896 Exemptions and Combined License Amendments: Virgil C. Summer Nuclear Station, Units 2 and 3; South Carolina Electric and Gas Company; South Carolina Public Service Authority Relocation of Air Cooled Chiller Pump 3, VWS-MP-03, 20500-20501 2017-08844 License Applications; Withdrawals: PSEG Nuclear LLC; Salem Nuclear Generating Station, Unit No. 2, 20492-20493 2017-08842 Petitions: U.S. Army Installation Command, 20493 2017-08843 Overseas Overseas Private Investment Corporation RULES Freedom of Information, 20434-20441 2017-08598 Postal Regulatory Postal Regulatory Commission NOTICES New Postal Products, 20501-20502 2017-08826 Postal Service Postal Service NOTICES Product Changes: Priority Mail Express and Priority Mail Negotiated Service Agreement, 20502 2017-08791 Priority Mail Negotiated Service Agreement, 20502 2017-08794 Presidential Documents Presidential Documents EXECUTIVE ORDERS Veterans Affairs, Department of: Accountability and Whistleblower Protection, Office of; Establishment (EO 13793), 20537-20540 2017-08990 Rural Business Rural Business-Cooperative Service NOTICES Guarantee Fee Rates for Guaranteed Loans for Fiscal Year 2017; Maximum Portion of Guarantee Authority Available for Fiscal Year 2017; Annual Renewal Fee for Fiscal Year 2017, 20457 2017-08790 Securities Securities and Exchange Commission NOTICES Meetings; Sunshine Act, 20527 2017-08957 Self-Regulatory Organizations; Proposed Rule Changes: Bats BZX Exchange, Inc., 20506-20508 2017-08812 NASDAQ ISE, LLC, 20508-20525 2017-08813 NYSE Arca, Inc., 20525-20527 2017-08815 Options Clearing Corp., 20502-20506 2017-08814 Small Business Small Business Administration RULES Small Business Investment Companies: Passive Business Expansion and Technical Clarifications, 20433-20434 2017-08810 State Department State Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Nonimmigrant Visa Application, 20527-20528 2017-08803 Meetings: Advisory Committee on Private International Law, 20528-20529 2017-08804 Surface Transportation Surface Transportation Board NOTICES Acquisition and Operation Exemptions: Hussey Terminal Railroad Co.; 2nd and Main, LLC, 20529 2017-08840 Transportation Department Transportation Department See Federal Aviation Administration See Federal Highway Administration See Federal Railroad Administration See National Highway Traffic Safety Administration Treasury Treasury Department See Internal Revenue Service NOTICES Multiemployer Pension Plan Application to Reduce Benefits, 20534-20535 2017-08922 Veteran Affairs Veterans Affairs Department NOTICES Agency Information Collection Activities; Proposals, Submissions, and Approvals: Generic Clearance for the Collection of Qualitative Feedback on Agency Service Delivery, 20535-20536 2017-08841 Separate Parts In This Issue Part II Presidential Documents, 20537-20540 2017-08990 Reader Aids Consult the Reader Aids section at the end of this issue for phone numbers, online resources, finding aids, and notice of recently enacted public laws. To subscribe to the Federal Register Table of Contents electronic mailing list, go to https://public.govdelivery.com/accounts/USGPOOFR/subscriber/new, enter your e-mail address, then follow the instructions to join, leave, or manage your subscription. 82 83 Tuesday, May 2, 2017 Rules and Regulations SMALL BUSINESS ADMINISTRATION 13 CFR Part 107 RIN 3245-AG67 Small Business Investment Companies: Passive Business Expansion and Technical Clarifications AGENCY: U.S. Small Business Administration. ACTION: Final rule; delay of effective date and request for comment. SUMMARY: On December 28, 2016, the Small Business Administration
(SBA)published a final rule to expand permitted investments in passive businesses and provide further clarification with regard to investments in such businesses for the Small Business Investment Company
(SBIC)Program, with an effective date of January 27, 2017. On January 26, 2017, SBA published a notification delaying the effective date until March 21, 2017 and re-opened the rule for additional public comment. On March 21, 2017, SBA published another notification to delay the effective date of this rule until May 20, 2017, to give the new administration time to further consider the rule. After reviewing the final rule, SBA is considering removing the provision that would allow SBICs to use a blocker corporation under its regulations if an investor of an SBIC has elected to be taxed as a regulated investment company
(RIC)and a direct investment into the operating company would cause the investor to receive or be deemed to receive income that would jeopardize its RIC status. SBA is seeking additional comments regarding the removal of this provision. In order to give the public time to provide comments and for SBA to review those comments, the effective date of the final rule is delayed until August 18, 2017. DATES: The effective date of the SBA final rule published December 28, 2016 (81 FR 95419), delayed until March 21, 2017 at 82 FR 8499 and then further delayed until May 20, 2017 at 82 FR 14428, is further delayed until August 18, 2017. Comments on this document must be submitted no later than June 1, 2017. ADDRESSES: You may submit comments, identified by RIN 3245-AG67, by any of the following methods: *Federal eRulemaking Portal: http://www.regulations.gov.* Follow the instructions for submitting comments. *Mail, Hand Delivery/Courier:* Theresa Jamerson, Office of Investment and Innovation, U.S. Small Business Administration, 409 Third Street SW., Washington, DC 20416. SBA will post comments on *http://www.regulations.gov.* If you wish to submit confidential business information
(CBI)as defined in the User Notice at *http://www.regulations.gov,* please submit the information to Theresa Jamerson, Office of Investment and Innovation, 409 Third Street SW., Washington, DC 20416. Highlight the information that you consider to be CBI, and explain why you believe this information should be held confidential. SBA will review the information and make the final determination of whether it will publish the information. FOR FURTHER INFORMATION CONTACT: Theresa Jamerson, Office of Investment and Innovation,
(202)205-7563 or *sbic@sba.gov.* SUPPLEMENTARY INFORMATION: The U.S. Small Business Administration
(SBA)Final Rule entitled Small Business Investment Companies: Passive Business Expansion and Technical Clarifications, 81 FR 95419 (December 28, 2016), had an effective date of January 27, 2017. The Final Rule would expand permitted investments in passive businesses, provide further clarification with regard to investments in such businesses, and add certain requirements to improve SBA's ability to monitor such investments. The Final Rule would also make a conforming change to the regulations regarding the amount of leverage available to SBICs under common control to be consistent with the Consolidated Appropriations Act, 2016, which increased the maximum amount of such leverage from $225 million to $350 million. The January effective date was delayed to March 21, 2017, and the comment period was reopened until February 19, 2017. 82 FR 8499 (January 26, 2017). The March effective date was further delayed to May 20, 2017, for additional review. 82 FR 14428 (March 21, 2017). After completing its review, SBA is considering removing the provision that would allow SBICs to use a blocker entity under 13 CFR 107.720(b)(3) if an investor in an SBIC, typically a business development company (BDC), has elected to be taxed as a regulated investment company
(RIC)and a direct investment into the operating company would cause the investor to receive or be deemed to receive income that would jeopardize its RIC status. This provision was not included in the proposed rule published on October 5, 2016 (78 FR 77377), but was added to the final rule published on December 28, 2016 (81 FR 95419) based on comments SBA received. After further consideration, SBA is concerned that, in light of the increased complexities involved in monitoring and examining investments structured through blocker entities using this provision may increase risk to the SBIC program unless SBA were to increase examination resources to monitor these complex transactions. SBA notes that the final rule provides, among other things, two other exceptions to the passive business regulation—the blocker corporation exception for SBICs with tax exempt investors to avoid unrelated business taxable income
(UBTI)and a similar exception for SBICs with foreign investors to avoid effectively connected income (ECI). SBA continues to believe the number of SBICs that would structure investments through passive entities utilizing these two exceptions is relatively low. Currently, SBA approves approximately five blocker corporation exceptions for UBTI each year and SBA expects that, after the rule is effective, only a few SBICs will use the ECI exception. On the other hand, there are currently 31 SBICs with BDC investors (BDC-SBICs) holding over 23% of SBA's outstanding guaranteed leverage. If the final rule were to become effective in the form published on December 28, 2016, SBA believes that many BDC-SBICs would structure a number of their investments through passive entities. Because BDC-SBICs represent such a large percentage of SBA's portfolio, significant numbers of investments structured through passive entities would pose a monitoring and examination challenge that could expose the program to an unacceptable level of risk unless SBA increased significantly its examination and monitoring resources. Therefore, SBA is considering revising the final rule to remove this provision. SBA is seeking comments from the public to obtain additional input before making a final decision. To provide SBA with sufficient time to seek additional comments and make this determination, this notice further delays the effective date by 90 additional days to August 18, 2017. Dated: April 25, 2017. A. Joseph Shepard, Associate Administrator, Office of Investment and Innovation. [FR Doc. 2017-08810 Filed 5-1-17; 8:45 am]
Connectionstraces to 1
Traces to 1 document
1 reference not yet in our index
- 13 CFR 107
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources