Federal Register / Vol. 65, No. 104 / Tuesday, May 30, 2000 / Rules and Regulations 34393

PART 71—DESIGNATION OF CLASS A,

CLASS B, CLASS C, CLASS D, AND

CLASS E AIRSPACE AREAS;

AIRWAYS; ROUTES; AND REPORTING

POINTS

1. The authority citation for 14 CFR

part 71 continues to read as follows:

Authority: 49 U.S.C. 106(g), 40103, 40113,

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–

1963 Comp., p. 389; 14 CFR 11.69.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of the Federal Aviation

Administration Order 7400.9G, Airspace

Designations and Reporting Points,

dated September 1, 1999, and effective

September 16, 1999, is amended as

follow:

Paragraph 6005 Class E airspace areas

extending upward from 700 feet or more

above the surface of the earth.

* * * * *

AWP CA E5 Willits, CA [Revised]

Ells Field-Willits Municipal Airport, CA

(Lat. 39°27′03′′ N, long. 123°22′12′′ W)

That airspace extending upward from 700

feet above the surface within a 6.3-mile

radius of the Ells Field-Willits Municipal

Airport and that airspace bounded by a line

beginning at lat. 39°28′00′′ N, long.

123°30′15′′ W; to lat. 39°48′30′′ N, long.

123°42′00′′ W; to lat. 39°53′30′′ N, long.

123°28′30′′ W; to lat. 39°32′11′′ N, long.

123°17′27′′ W, thence clockwise along the

6.3-mile radius of the Ells Field-Willits

Municipal Airport, to the point of beginning.

* * * * *

Issued in Los Angeles, California, on April

25, 2000.

William D. Marino, Jr.,

Acting Manager, Air Traffic Division,

Western-Pacific Region.

[FR Doc. 00–13461 Filed 5–26–00; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

29 CFR Part 2584

RIN 1210–AA79

Rules and Regulations For the

Allocation of Fiduciary Responsibility,

Federal Retirement Thrift Investment

Board

AGENCY: Pension and Welfare Benefits

Administration, Labor.

ACTION: Direct final rule.

SUMMARY: This document includes

amendments authorizing the Executive

Director of the Federal Retirement Thrift

Investment Board (Board) to allocate

certain fiduciary responsibilities for two

new investment funds to investment

managers. It also provides definitions

for the two new funds, updates the

definition of investment manager and

makes other miscellaneous corrections

to the regulations.

DATES: This rule is effective on July 14,

2000 without further notice, unless the

Department receives significant adverse

written comment by July 29, 2000. If the

Department receives such comments, it

will publish a timely withdrawal of the

direct final rule in the Federal Register

and inform the public that the rule will

not take effect.

ADDRESSES: Written comments

(preferably at least three copies) should

be submitted to the Office of

Regulations and Interpretations, Pension

and Welfare Benefits Administration,

Room N–5671, U.S. Department of

Labor, Washington, DC 20210, and

marked ‘‘Attention: FERSA Allocation

Regulation.’’ All submissions will be

available for public inspection in the

Public Documents Room, Pension and

Welfare Benefits Administration, Room

N–5507, 200 Constitution Avenue NW,

Washington, DC 20210.

FOR FURTHER INFORMATION CONTACT:

Rudy Nuissl, Pension and Welfare

Benefits Administration, U.S.

Department of Labor, Rm 5669, 200

Constitution Ave., N.W., Washington,

DC 20210, tel. (202) 219–7461. This is

not a toll-free number.

SUPPLEMENTARY INFORMATION:

Subchapter III of the Federal Employees’

Retirement System Act of 1986

(FERSA), Pub. L. No. 99–335, 100 Stat.

514, codified largely at 5 U.S.C. 8351

and 8401–8479, created a retirement

savings plan for Federal employees

known as the Thrift Savings Plan (TSP).

As provided at 5 U.S.C. 8437, the TSP

is funded by the Thrift Savings Fund

(Fund).

Pursuant to 5 U.S.C. 8474(b)(5) and

(c)(1), the Executive Director of the

Board is granted authority to prescribe

such regulations as may be necessary for

the administration of the Fund.

However, these statutory provisions

expressly prohibit the Executive

Director from prescribing any

regulations relating to fiduciary

responsibilities with respect to the

Fund. Instead, at 5 U.S.C. 8477(e)(1)(E),

the Secretary of Labor is directed to

prescribe, in regulations, procedures by

which fiduciary responsibilities may be

allocated among fiduciaries, including

investment managers. The Secretary of

Labor published regulations setting

forth such procedures in final form in

the Federal Register on December 29,

1988 (53 FR 52664). These regulations

comprise 29 CFR part 2584.

Pursuant to 29 CFR 2584.8477(e)–2(b),

the Executive Director may allocate

certain fiduciary responsibilities in

connection with the management and

investment of the Fixed Income

Investment Fund (F Fund) to a qualified

professional asset manager(s). Section

2584.8477(e)–2(c) of title 29, Code of

Federal Regulations, provides that the

Executive Director may also allocate

certain fiduciary responsibilities in

connection with the management and

investment of the Government

Securities Investment Fund (G Fund)

and the Common Stock Index

Investment Fund (C Fund) to an

investment manager(s). Section

2584.8477(e)–6 of title 29, Code of

Federal Regulations, provides

definitions for these investment funds.

The Thrift Savings Investment Funds

Act of 1996, Pub. L. 104–208, 110 Stat.

3009–372, authorized the creation of

two new investment funds. The new

funds are the Small Capitalization Stock

Index Investment Fund (S Fund) and

the International Stock Index

Investment Fund (I Fund).

This document provides in

§ 2584.8477(e)–2 that, in addition to the

G, C, and F Funds, the Executive

Director may allocate certain fiduciary

responsibilities in connection with the

management and investment of the two

new funds (S and I Funds) to an

investment manager(s). The rule also

provides definitions for these two new

funds in § 2584.8477(e)–6, which

conform to the definitions in sections of

the Thrift Savings Investment Funds Act

of 1996.

Because part 2584 originally adopted

the definition of investment manager

provided in the Employee Retirement

Income Security Act of 1974 (ERISA),

Pub. L. 93–406, 88 Stat. 829, 29 U.S.C.

1002, which was later amended by Act

of November 10, 1997, § 1(a), Pub. L.

105–72, 111 Stat. 1457, this document

replaces the old definition of investment

manager in 29 CFR 2584.8477(e)–6 with

the amended definition as currently

provided in ERISA.

Furthermore, this rule adds the word

‘‘Fund’’ to § 2584.8477(e)–2(c), which

was inadvertently omitted from

‘‘Common Stock Index Investment

Fund’’ in the final rule, and updates the

United States Code citation for FERSA

in § 2584.8477(e)–6(a).

Direct Final Rulemaking Procedure

The Department has determined that

this rule shall be effective as a final rule

45 days after publication in the Federal

Register. As explained more fully above,

34394 Federal Register / Vol. 65, No. 104 / Tuesday, May 30, 2000 / Rules and Regulations

the purpose of this rulemaking is to

conform the existing regulation with the

creation of two new investment funds

authorized by the Thrift Savings

Investment Funds Act of 1996, and to

make certain other minor changes and

corrections.

As a result, the Department

anticipates that this regulation will not

result in adverse or negative comment

and, therefore, is issuing it as a direct

final rule. The amendment will enhance

the ability of federal employees to

diversify their account balances in the

Thrift Investment Fund. In accordance

with 5 U.S.C. 553(b), the Department for

good cause finds that notice and public

procedure on this rule are unnecessary.

Unless a written adverse or negative

comment is received within the

comment period, the regulation will

become effective on the date specified

above. If the Department does receive,

within the comment period, an adverse

or negative comment, a document

withdrawing the direct final rule will be

published in the Federal Register, and

a notice of proposed rulemaking may be

published with a new comment period.

Executive Order 12866 Statement

The regulation set forth in this

document is not classified as a

‘‘significant regulatory action’’ under

Executive Order 12866 because it is not

likely to result in: (1) An annual effect

on the economy of $100 million or

more; (2) a major increase in costs or

prices for consumers, individual

industries, Federal, state, or local

government agencies, or geographic

regions; or (3) significant adverse effects

on competition, employment,

investment, productivity, innovation, or

the ability of United States-based

enterprises to compete with foreignbased enterprises in domestic or export

markets. As a result this rule is not

subject to review by the Office of

Management and Budget.

Regulatory Flexibility Act Statement

Because this rule is being

promulgated without a notice of

proposed rulemaking it is not covered

by the Regulatory Flexibility Act.

Nevertheless, the Department has

determined that it will not have a

significant economic impact on a

substantial number of small entities.

The rule merely makes changes

necessary to permit the operation of two

new investment funds authorized under

the Thrift Savings Investment Funds Act

of 1996 in the same manner as the

existing investment funds.

Paperwork Reduction Act

The rule being issued here is not

subject to the requirements of the

Paperwork Reduction Act of 1996 (44

U.S.C. 3501 et seq.) because it does not

contain an information collection

request as defined in 44 U.S.C. 3502(3).

Executive Order 13132 Federalism

This rule affects only the authority of

the Executive Director of the Thrift

Investment Board and has no federalism

implications.

Unfunded Mandates Reform Act of

1995

Pursuant to the Unfunded Mandates

Reform Act of 1995, Pub. L. 104–4,

§ 201, 109 Stat. 48, 64, the effects of this

regulation on state, local, and tribal

governments and the private sector have

been assessed. This regulation will not

compel the expenditure in any one year

of $100 million or more by state, local,

and tribal governments, in the aggregate,

or by the private sector. Therefore, a

statement under § 202, 109 Stat. 48, 64–

65, is not required.

Small Business Regulatory Enforcement

Fairness Act—Congressional Review

The rule being issued here is subject

to the provisions of the Small Business

Regulatory Enforcement Fairness Act of

1996 (5 U.S.C. 801 et seq.) and has been

transmitted to Congress and the

Comptroller General for review. The

rule is not a ‘‘major rule’’ as that term

is defined in 5 U.S.C. 804, because it is

not likely to result in (1) an annual

effect on the economy of $100 million

or more: (2) a major increase in costs or

prices for consumers, individual

industries, or federal, State or local

government agencies, or geographic

regions; or (3) significant adverse effects

on competition, employment,

investment, productivity, innovations,

or on the ability of the United Statesbased enterprises to compete with

foreign-based enterprises in domestic or

export markets.

Statutory Authority

The regulation set forth herein is

issued pursuant to 5 U.S.C. 8477(e)(1)(E)

and under Secretary of Labor’s Order

No. 1–87.

List of Subjects in 29 CFR Part 2584

Employee benefit plans, Fiduciary,

Government employees, Pensions,

Retirement, Trusts and trustees.

In view of the foregoing, the

Department of Labor amends 29 CFR

part 2584 as follows:

PART 2584—[AMENDED]

1. The authority citation for part 2584

continues to read as follows:

Authority: 5 U.S.C. 8477(e)(1)(E) and

Secretary of Labor’s Order 1–87, 52 FR 13139

(April 21, 1987).

2. Section 2584.8477(e)–(2) is

amended by revising paragraph (c) to

read as follows:

§ 2584.8477(e)–2 Allocation of fiduciary

duties.

* * * * *

(c) The Executive Director may

allocate authority and responsibility for

the investment and management of the

Government Securities Investment

Fund, the Common Stock Index

Investment Fund, the International

Stock Index Investment Fund and the

Small Capitalization Stock Index

Investment Fund to an investment

manager(s).

* * * * *

3. Section 2584.8477(e)–6 is amended

as follows:

a. by redesignating paragraphs (h), (i)

and (j) as (i), (j) and (l), respectively;

b. by removing the periods in

paragraph (e)(2) and the newly

redesignated paragraph (j), and by

inserting semicolons in their places; and

c. by revising paragraph (a) and the

newly redesignated paragraph (i)(2) and

inserting new paragraphs (h) and (k) to

read as follows:

§ 2584.8477(e)–6 Definitions.

* * * * *

(a) Act means the Federal Employees’

Retirement System Act of 1986, 5 U.S.C.

8401 et seq. (Supp. III 1997);

* * * * *

(i) * * *

(1) * * *

(2) Is:

(i) Registered as an investment adviser

under the Investment Advisers Act of

1940 (15 U.S.C. 80b–1),

(ii) Not registered as an investment

adviser under such Act by reason of

paragraph (1) of section 203A(a) of such

Act (15 U.S.C. 80b–3a) but is registered

as an investment adviser under the laws

of the state (referred to in such

paragraph (1)) in which it maintains its

principal office and place of business,

and, at the time the fiduciary last filed

the registration form most recently filed

by the fiduciary with such state in order

to maintain the fiduciary’s registration

under the laws of such state, also filed

a copy of such form with the Secretary

of Labor,

(iii) A bank, as defined in that Act, or

(iv) An insurance company qualified

to perform services described in

Federal Register / Vol. 65, No. 104 / Tuesday, May 30, 2000 / Rules and Regulations 34395

paragraph (i)(1) of this section under the

laws of more than one state, and

(3) * * *

* * * * *

(h) International Stock Index

Investment Fund means the fund

established under 5 U.S.C. 8438(b)(1)(E);

* * * * *

(k) Small Capitalization Stock Index

Investment Fund means the fund

established under 5 U.S.C.

8438(b)(1)(D);

* * * * *

Signed at Washington, DC , this 22nd day

of March, 2000.

Leslie Kramerich,

Acting Assistant Secretary, Pension and

Welfare Benefits Administration, Department

of Labor.

[FR Doc. 00–13250 Filed 5–26–00; 8:45 am]

BILLING CODE 4510–29–P

ENVIRONMENTAL PROTECTION

AGENCY

40 CFR Part 52

[OH135–1a, FRL–6600–8]

Approval and Promulgation of

Implementation Plans; Ohio

AGENCY: Environmental Protection

Agency (EPA).

ACTION: Direct final rule.

SUMMARY: The EPA is approving, as set

forth below, a request from Ohio for a

revision to the Ohio State

Implementation Plan (SIP) for

transportation conformity. The

transportation conformity SIP revision

enables the State of Ohio to implement

and enforce the Federal transportation

conformity requirements at the State or

local level. The submitted amendments

to Ohio Administrative Code reflect the

third set of EPA revisions to the federal

transportation conformity rules. These

rule changes will assure conformity of

transportation improvement programs,

transportation plans and transportation

projects to the SIP. On October 6, 1999,

the State of Ohio submitted the adopted

rules and public hearing documentation

to EPA and requested a revision to the

federally approved SIP.

DATES: This rule is effective on July 31,

2000, unless EPA receives adverse

written comments by June 29, 2000. If

adverse comment is received, EPA will

publish a timely withdrawal of the rule

in the Federal Register and inform the

public that the rule will not take effect.

ADDRESSES: Send written comments to:

J. Elmer Bortzer, Chief, Regulation

Development Section, Air Programs

Branch (AR–18J), Environmental

Protection Agency, 77 West Jackson

Boulevard, Chicago, Illinois 60604.

Copies of the material submitted by

the State in support of this request is

available for inspection at the

Environmental Protection Agency,

Region 5, Air and Radiation Division, 77

West Jackson Boulevard, Chicago,

Illinois 60604. (Please telephone

Patricia Morris at (312) 353–8656 before

visiting the Region 5 Office.)

FOR FURTHER INFORMATION CONTACT:

Patricia Morris, Environmental

Scientist, Regulation Development

Section, Air Programs Branch (AR–18J),

USEPA, Region 5, Chicago, Illinois

60604, (312) 353–8656.

SUPPLEMENTARY INFORMATION:

Throughout this document wherever

‘‘we,’’ ‘‘us,’’ or ‘‘our’’ is used we mean

EPA.

Table of Contents

I. Background

A. What is Transportation Conformity?

B. Why Must the State Submit a

Transportation Conformity SIP?

II. Review of the State Transportation

Conformity Rule.

A. What Did the State Submit?

B. How Does the Submittal Change the

Currently Approved State Transportation

Conformity Rules?

C. What is EPA Approving Today and

Why?

III. Rulemaking Actions

IV. Administrative Requirements

A. Executive Order 12866

B. Executive Orders on Federalism

C. Executive Order 13045

D. Executive Order 13084

E. Regulatory Flexibility Act

F. Unfunded Mandates

G. Submission to Congress and the

Comptroller General

H. National Technology Transfer and

Advancement Act

I. Petitions for Judicial Review

I. Background

A. What is Transportation Conformity?

The purpose of transportation

conformity is to assure that

transportation plans, programs and

projects, approved by the United States

Department of Transportation conform

to the purpose of the SIP to attain and

maintain the public health based air

quality standards. Conformity

provisions first appeared in the Clean

Air Act (CAA) amendments of 1977

(Public Law 95–95). Although these

provisions did not define the term

conformity, they provided that no

Federal department could engage in,

support in any way or provide financial

assistance for, license or permit, or

approve any activity which did not

conform to a SIP that has been approved

or promulgated for the nonattainment or

maintenance areas.

The CAA Amendments of 1990

expanded the scope and content of the

conformity provisions by defining

conformity to an implementation plan.

Conformity is defined in section 176(c)

of the CAA as conformity to the SIP’s

purpose of eliminating or reducing the

severity and number of violations of the

National Ambient Air Quality Standards

and achieving expeditious attainment of

such standards, and that affected

activities will not: (1) Cause or

contribute to any new violation of any

standard in any area, (2) increase the

frequency or severity of any existing

violation of any standard in any area, or

(3) delay timely attainment of any

standard or any required interim

emission reductions or other milestones

in any area.

The CAA requires EPA to promulgate

criteria and procedures for determining

conformity of all Federal actions in the

nonattainment or maintenance areas to

the SIP. Actions under title 23 United

States Code (U.S.C.) or the Federal

Transit Act are covered under the

transportation conformity rules codified

at 40 CFR part 51, subpart T and part

93, subpart A—Conformity to State or

Federal Implementation Plans of

Transportation Plans, Programs, and

Projects Developed, Funded or

Approved Under Title 23 U.S.C. or the

Federal Transit Act. The criteria and

procedures developed for all other

federal actions are called ‘‘general

conformity’’ rules.

B. Why Must the State Submit a

Transportation Conformity SIP?

The original 1993 conformity rule

required the States and local agencies to

adopt and submit a transportation

conformity SIP revision to the EPA not

later than November 24, 1994 (40 CFR

51.396). Ohio submitted its SIP revision

for state transportation conformity rules

on August 17, 1995.

The federal transportation conformity

rule however, was amended on August

8, 1995, and again on November 14,

1995. The November 14, 1995,

amendments allow 12 months, or until

November 14, 1996, for States to submit

a transportation conformity SIP revision

consistent with these amendments.

Ohio had submitted state conformity

rules consistent with the original

November 24, 1994, conformity rules on

August 17, 1995, and these rules were

conditionally approved by EPA on May

16, 1996 (61 FR 24702). The condition

of the approval was that Ohio update

the State transportation conformity rules

to be consistent with the federal

amendments. Ohio updated its State