13448 Federal Register / Vol. 86, No. 44 / Tuesday, March 9, 2021 / Rules and Regulations 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 71 

[Docket No. FAA–2020–0003; Airspace 

Docket No. 19–ACE–11] 

RIN 2120–AA66 

Amendment of VOR Federal Airways 

V–12, V–74, and V–516 in the Vicinity 

of Anthony, KS 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule, withdrawal. 

SUMMARY: The FAA inadvertently 

published the same final action twice, 

on February 23, 2021, and again on 

March 1, 2021. FAA is withdrawing the 

second, duplicate publication. 

DATES: Effective March 9, 2021, FR Doc. 

2021–03879, published at 86 FR 11859 

(March 1, 2021), is withdrawn. 

ADDRESSES: FAA Order 7400.11E, 

Airspace Designations and Reporting 

Points, and subsequent amendments can 

be viewed online at https://

www.faa.gov/air_traffic/publications/. 

For further information, you can contact 

the Rules and Regulations Group, 

Federal Aviation Administration, 800 

Independence Avenue SW, Washington, 

DC 20591; telephone: (202) 267–8783. 

The Order is also available for 

inspection at the National Archives and 

Records Administration (NARA). For 

information on the availability of FAA 

Order 7400.11E at NARA, email: 

fedreg.legal@nara.gov or go to https://

www.archives.gov/federal-register/cfr/ 

ibr-locations.html. 

FOR FURTHER INFORMATION CONTACT: 

Colby Abbott, Rules and Regulations 

Group, Office of Policy, Federal 

Aviation Administration, 800 

Independence Avenue SW, Washington, 

DC 20591; telephone: (202) 267–8783. 

SUPPLEMENTARY INFORMATION: 

History 

FAA published FR Doc. 2021–02066, 

at 86 FR 10804, on February 23, 2021. 

It inadvertently re-published the same 

document as FR Doc. 2021–03879, at 86 

FR 11859, on March 1, 2021. Therefore, 

FAA is withdrawing the second, 

duplicate document. 

List of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

The Withdrawal 

■ Accordingly, pursuant to the authority 

delegated to me, the final rule published 

in the Federal Register on March 1, 

2021 (86 FR 11859), FR Doc. 2021– 

03879 is hereby withdrawn. 

Authority: 49 U.S.C. 106(f), 106(g); 40103, 

40113, 40120; E.O. 10854, 24 FR 9565, 3 CFR, 

1959–1963 Comp., p. 389. 

Issued in Washington, DC, on March 2, 

2021. 

George Gonzalez, 

Acting Manager, Rules and Regulations 

Group. 

[FR Doc. 2021–04618 Filed 3–8–21; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Parts 401, 404, 413, 414, 415, 

417, 420, 431, 433, 435, 437, 440, 450, 

and 460 

[Docket No. FAA–2019–0229; Amdt. No(s). 

401–9; 404–7, 413–12, 414–4, 415–7, 417– 

6, 420–9, 431–7, 433- 3, 435–5, 437–3, 440– 

5, 450–2, and 460–3] 

RIN 2120–AL17 

Streamlined Launch and Reentry 

License Requirements 

AGENCY: Federal Aviation 

Administration (FAA), U.S. Department 

of Transportation (DOT). 

ACTION: Final rule; delay of effective 

date. 

SUMMARY: In accordance with the 

memorandum of January 20, 2021, from 

the Assistant to the President and Chief 

of Staff, titled ‘‘Regulatory Freeze 

Pending Review,’’ the Department 

delays the effective date of the final 

rule, titled ‘‘Streamlined Launch and 

Reentry License Requirements,’’ until 

March 21, 2021. 

DATES: As of March 9, 2021, the March 

10, 2021 effective date of the final rule 

published on December 10, 2020, at 85 

FR 79566, is delayed to March 21, 2021. 

FOR FURTHER INFORMATION CONTACT: For 

technical questions concerning this 

action, contact Randy Repcheck, Office 

of Commercial Space Transportation, 

Federal Aviation Administration, 800 

Independence Avenue SW, Washington, 

DC 20591; telephone (202) 267–8760; 

email Randy.Repcheck@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Electronic Access and Filing 

A copy of the ‘‘Streamlined Launch 

and Reentry License Requirements’’ 

notice of proposed rulemaking (NPRM) 

(84 FR 15296, April 15, 2019), all 

comments received, the final rule, and 

all background material may be viewed 

online at http://www.regulations.gov 

using the docket number listed above. A 

copy of this final rule will also be 

placed in the docket. Electronic retrieval 

help and guidelines are available on the 

website. It is available 24 hours each 

day, 365 days each year. An electronic 

copy of this document may also be 

downloaded from the Office of the 

Federal Register’s website at http:// 

www.ofr.gov and the Government 

Publishing Office’s website at http:// 

www.gpo.gov. 

Background 

On January 20, 2021, the Assistant to 

the President and Chief of Staff issued 

a memorandum titled, ‘‘Regulatory 

Freeze Pending Review.’’ The 

memorandum requested that the heads 

of executive departments and agencies 

(agencies) take steps to ensure that the 

President’s appointees or designees 

have the opportunity to review any new 

or pending rules. With respect to rules 

published in the Federal Register, but 

not yet effective, the memorandum 

asked that agencies consider postponing 

the rules’ effective dates for 60 days 

from the date of the memorandum (i.e., 

March 21, 2021) for the purpose of 

reviewing any questions of fact, law, 

and policy the rules may raise. 

In accordance with this direction, the 

FAA has decided to delay the March 10, 

2021 effective date of the final rule, 

titled ‘‘Streamlined Launch and Reentry 

License Requirements’’ (RIN 2120– 

AL17), until March 21, 2021. This final 

rule will streamline and increase 

flexibility in the FAA’s commercial 

space launch and reentry regulations, 

and remove obsolete requirements It 

will also consolidate and revise 

multiple regulatory parts and apply a 

single set of licensing and safety 

regulations across several types of 

operations and vehicles. Finally, the 

rule will describe the requirements to 

obtain a vehicle operator license, the 

safety requirements, and the terms and 

conditions of a vehicle operator license. 

The delay in the rule’s effective date 

will afford the President’s appointees or 

designees an opportunity to review the 

rule and will allow for consideration of 

any questions of fact, law, or policy that 

the rule may raise before it becomes 

effective. 

Waiver of Rulemaking and Delayed 

Effective Date 

Under the Administrative Procedure 

Act (APA) (5 U.S.C. 553), the FAA 

generally offers interested parties the 

opportunity to comment on proposed 

regulations and publishes rules not less 

than 30 days before their effective dates. 

However, the APA provides that an 

agency is not required to conduct 

notice-and-comment rulemaking or 


khammond on DSKJM1Z7X2PROD with RULES
Federal Register / Vol. 86, No. 44 / Tuesday, March 9, 2021 / Rules and Regulations 13449 

1For example, section 104A(d)(1) of the Act 

requires Treasury to begin accepting applications 

for capital investments under ECIP within 30 days 

after enactment of the statute, and section 

104A(h)(1) requires Treasury to issue rules setting 

restrictions on executive compensation, share 

buybacks, and dividend payments for ECIP 

recipients within 30 days after enactment of the 

statute. 

delay effective dates when the agency, 

for good cause, finds that the 

requirement is impracticable, 

unnecessary, or contrary to the public 

interest (5 U.S.C. 553(b)(B) and (d)(3)). 

There is good cause to waive both of 

these requirements here as they are 

impracticable. A delay in the effective 

date of the final rule, titled 

‘‘Streamlined Launch and Reentry 

License Requirements,’’ is necessary for 

the President’s appointees and 

designees to have adequate time to 

review the rule before it takes effect, and 

neither the notice and comment process 

nor the delayed effective date could be 

implemented in time to allow for this 

review. 

Issued in Washington, DC, under the 

authority in 49 U.S.C. 106(f) and 51 U.S.C. 

Chapter 509, on February 22, 2021. 

Steve Dickson, 

Administrator. 

[FR Doc. 2021–04068 Filed 3–8–21; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF THE TREASURY 

31 CFR Part 35 

[Docket No. TREAS–DO–2021–0004] 

RIN 1505–AC76 

Emergency Capital Investment 

Program—Restrictions on Executive 

Compensation, Share Buybacks, and 

Dividends 

AGENCY: Department of the Treasury. 

ACTION: Interim final rule and request 

for public comment. 

SUMMARY: Section 104A of the 

Community Development Banking and 

Financial Institutions Act of 1994, 

which was added by the Consolidated 

Appropriations Act, 2021, establishes 

the Emergency Capital Investment 

Program to support capital investments 

in low- and moderate-income 

community financial institutions. The 

program is available to eligible minority 

depository institutions and community 

development financial institutions that 

are insured depository institutions, bank 

holding companies, savings and loan 

holding companies, or federally insured 

credit unions. Under Section 104A, the 

Secretary of the Treasury is required to 

issue rules setting restrictions on 

executive compensation, share 

buybacks, and dividend payments for 

recipients of capital investments under 

the program. This interim final rule 

establishes these restrictions. 

DATES: 

Effective date: This interim final rule 

is effective March 9, 2021. 

Comment date: Comments must be 

received on or before April 8, 2021. 

ADDRESSES: You may submit comments 

identified by number TREAS–DO– 

2021–0004 through the Federal 

eRulemaking Portal: http://

www.regulations.gov. Follow the 

instructions for submitting comments. 

Treasury will post all comments on 

www.regulations.gov. If you wish to 

submit confidential business 

information (CBI) as defined in the User 

Notice at www.regulations.gov, please 

send an email to ECIPInquiries@

Treasury.gov. Highlight the information 

that you consider to be CBI and explain 

why you believe Treasury should hold 

this information as confidential. 

Treasury will review the information 

and make the final determination 

whether it will publish the information. 

FOR FURTHER INFORMATION CONTACT: For 

further information regarding this 

interim final rule contact Brian 

Donovan, Emergency Capital Investment 

Program, Treasury, at (202) 653–0371 or 

Brian.Donovan2@treasury.gov, or Eric 

Froman, Assistant General Counsel 

(Banking and Finance), Treasury, at 

(202) 622–1942 or Eric.Froman@

treasury.gov. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. Background Information 

II. Comments and Immediate Effective Date 

III. Interim Final Rule 

A. Background on the ECIP 

B. Overview of the Interim Final Rule 

1. Restrictions on Compensation 

2. Restrictions on Dividends, Share 

Buybacks, and Other Capital 

Distributions 

IV. Regulatory Analyses 

A. Administrative Procedure Act 

B. National Environmental Policy Act 

C. Paperwork Reduction Act 

D. Regulatory Flexibility Act 

E. Regulatory Planning and Review 

F. Executive Order 13132 

G. Congressional Review Act 

I. Background Information 

On December 27, 2020, the 

Consolidated Appropriations Act, 2021 

(Pub. L. 116–260), was signed into law. 

It added Section 104A of the 

Community Development Banking and 

Financial Institutions Act of 1994 (the 

Act) (12 U.S.C. 4701 et seq.), which was 

enacted as part of the Riegle Community 

Development and Regulatory 

Improvement Act of 1994 (Pub. L. 103– 

325). Section 104A authorizes the 

Secretary of the Treasury to establish 

the Emergency Capital Investment 

Program (ECIP or Program) to make 

investments in low- and moderateincome community financial 

institutions. These investments are to 

support the efforts of low- and 

moderate-income community financial 

institutions to, among other things, 

provide loans, grants, and forbearance 

for small businesses, minority-owned 

businesses, and consumers, especially 

in low-income and underserved 

communities, including persistent 

poverty counties, which may be 

disproportionately impacted by the 

economic effects of the COVID–19 

pandemic. 

Under Section 104A(h) of the Act, the 

Department of the Treasury (Treasury) 

must issue rules setting restrictions on 

executive compensation, share 

buybacks, and dividend payments for 

recipients of capital investments under 

ECIP. This rulemaking establishes those 

restrictions, which are described in 

section III below. 

II. Comments and Immediate Effective 

Date 

ECIP is intended to be used to make 

investments in low- and moderateincome community financial 

institutions expeditiously.1 Section 

104A(h) of the Act requires Treasury to 

issue rules no later than 30 days after 

the statute’s effective date that set 

restrictions on executive compensation, 

share buybacks, and dividend payments 

for recipients of capital investments 

under ECIP. This legislative mandate, 

along with the dramatic and ongoing 

effects of the COVID–19 pandemic—the 

public health crisis, continuing closures 

of small businesses and minority-owned 

businesses, and heightened consumer 

unemployment, especially in lowincome and underserved communities— 

provides good cause for Treasury to 

issue this interim final rule without 

advance notice and public comment and 

to dispense with the 30-day delayed 

effective date provided in the 

Administrative Procedure Act (5 U.S.C. 

553). The immediate effective date of 

this interim final rule will benefit lowand moderate-income community 

financial institutions, as well as the 

communities served by such 

institutions, by allowing low- and 

moderate-income community financial 

institutions to expeditiously apply for 

capital investments with a full 

understanding of the executive 

compensation, share buyback, and 

dividend payment restrictions that will 


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