Federal Register / Vol. 65, No. 117 / Friday, June 16, 2000 / Rules and Regulations 37701

Paperwork Reduction Act

The Paperwork Reduction Act does

not apply because this temporary rule

does not impose recordkeeping or

information collection requirements or

the collection of information from

offerors, contractors, or members of the

public that require the approval of the

Office of Management and Budget under

44 U.S.C. 501 et seq. We already have

all of the necessary information to

implement this rule.

National Environmental Policy Act

This temporary rule is categorically

excluded from the preparation of an

environmental assessment or an

environmental impact statement under

the National Environmental Policy Act

of 1969, 42 U.S.C. 4321 et seq., because

its environmental effects are too broad,

speculative, or conjectural to lend

themselves to meaningful analysis and

the road projects funded as a result of

this temporary rule will be subject later

to the National Environmental Policy

Act process, either collectively or caseby-case. Further, no extraordinary

circumstances exist to require

preparation of an environmental

assessment or environmental impact

statement.

Government-to-Government

Relationship With Tribes

In accordance with the President’s

memorandum of May 14, 1998,

‘‘Consultation and Coordination with

Indian Tribal Governments’’ (63 FR

27655) and 512 DM 2, we have

evaluated any potential effects upon

federally-recognized Indian tribes and

have determined that this temporary

rule preserves the integrity and

consistency of the relative need formula

process we have used since 1993.

However, based on comments we

received on the first temporary rule and

data compiled and reviewed by the BIA

Division of Transportation, we are

adjusting the FHWA Price Trends

Report data for two states which do not

have current data reports. The yearly

FHWA Report is used as part of the

process to determine the cost-toimprove portion of the relative need

formula. All states except Alaska and

Washington have updated reports

through 1998. For the indices for those

two states, we have gone back to their

latest reporting years and used those

figures in the cost-to-improve portion of

the relative need formula. By accounting

for the two indices for the two nonreporting states, we are adjusting the

relative need formula in those regions

which adjusts the allocation for all

regions for the remaining distribution of

fiscal year 2000 IRR funds. The

adjustments in this distribution account

for any differences between the amounts

distributed under the first temporary

rule and this one. Consultation with

tribal governments and tribal

organizations is ongoing as part of the

TEA–21 negotiated rulemaking process.

List of Subjects in 25 CFR Part 170

Indians—Highways and roads.

For the reasons set out in the

preamble, we are temporarily amending

part 170 in chapter I of title 25 of the

Code of Federal Regulations as follows.

PART 170—ROADS OF THE BUREAU

OF INDIAN AFFAIRS

1. The authority citation for part 170

continues to read as follows:

AUTHORITY: 36 Stat. 861; 78 Stat. 241, 253,

257; 45 Stat. 750 (25 U.S.C. 47; 42 U.S.C.

2000e(b), 2000e–2(i); 23 U.S.C. 101(a), 208,

308), unless otherwise noted.

2. Revise § 170.4b to read as follows:

§ 170.4b What formula will you use to

distribute the remaining fiscal year 2000

Indian Reservation Roads funds?

From June 16, 2000 through

September 30, 2000, the Secretary will

distribute the remaining fiscal year 2000

IRR funds authorized under Section

1115 of the Transportation Equity Act

for the 21st Century, Public Law 105–

178, in accordance with this section.

(a) The Secretary will distribute funds

to Indian Reservation Roads and Bridges

projects on or near Indian reservations

under the relative need formula

established and approved in January

1993.

(b) The Secretary will adjust the

relative need formula to account for

non-reporting states by inserting the

latest data reported for those states for

use in the relative need formula process

(23 U.S.C. 202(d)).

Dated: June 9, 2000.

Kevin Gover,

Assistant Secretary—Indian Affairs.

[FR Doc. 00–15151 Filed 6–15–00; 8:45 am]

BILLING CODE 4310–02–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8888]

RIN 1545–AU96

Real Estate Mortgage Investment

Conduits; Reporting Requirements and

Other Administrative Matters

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Final regulations.

SUMMARY: This document eliminates the

regulatory requirement that the issuer of

a collateralized debt obligation (CDO) or

regular interest in a real estate mortgage

investment conduit (REMIC) set forth

certain information on the face of the

CDO or regular interest. This action

eliminates a reporting burden imposed

on issuers of CDOs and regular interests.

EFFECTIVE DATE: These regulations are

effective June 16, 2000.

FOR FURTHER INFORMATION CONTACT:

Kenneth Christman, (202) 622–3950 (not

toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

On May 19, 1999, the IRS published

in the Federal Register a notice of

proposed rulemaking [REG–100905–

97(64 FR 27221)] intending to eliminate

the regulatory requirement that certain

information be set forth on the face of

a certificate representing a CDO or

REMIC regular interest.

The public hearing scheduled for

September 13, 1999, was canceled

because no one requested to speak, and

the only written comment received

supports finalizing the regulations in

the form proposed. This Treasury

decision, therefore, adopts the proposed

regulations with no change.

Special Analyses

It has been determined that this

Treasury decision is not a significant

regulatory action as defined in

Executive Order 12866. Therefore, a

regulatory assessment is not required. It

has also been determined that section

553(b) of the Administrative Procedure

Act (5 U.S.C. chapter 5) does not apply

to these regulations, and, because the

regulations do not impose a collection

of information on small entities, the

Regulatory Flexibility Act (5 U.S.C.

chapter 6) does not apply. Pursuant to

section 7805(f) of the Internal Revenue

Code, the notice of proposed rulemaking

preceding these regulations was

submitted to the Chief Counsel for

37702 Federal Register / Vol. 65, No. 117 / Friday, June 16, 2000 / Rules and Regulations

Advocacy of the Small Business

Administration for comment on its

impact on small business.

Drafting Information

The principal author of these

regulations is Kenneth Christman,

Office of Assistant Chief Counsel

(Financial Institutions and Products).

However, other personnel from the IRS

and Treasury Department participated

in their development.

List of Subjects in 26 CFR Part 1

Income taxes, Reporting and

recordkeeping requirements.

Adoption of Amendments to the

Regulations

Accordingly, 26 CFR part 1 is

amended as follows:

PART 1—INCOME TAXES

Paragraph 1. The authority citation

for part 1 continues to read in part as

follows:

Authority: 26 U.S.C. 7805 * * *

§ 1.6049–7 [Amended]

Par. 2. In § 1.6049–7, paragraph (g) is

removed.

John M. Dalrymple,

Acting Deputy Commissioner of Internal

Revenue.

Approved: June 1, 2000.

Jonathan Talisman,

Deputy Assistant Secretary of the Treasury.

[FR Doc. 00–15050 Filed 6–15–00; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE INTERIOR

Office of the Secretary

43 CFR Part 12

RIN 1090–AA67

Administrative and Audit

Requirements and Cost Principles for

Assistance Programs

AGENCY: Office of the Secretary, Interior.

ACTION: Final rule.

SUMMARY: This action finalizes an

interim rule the Department of the

Interior (Department) published in

response to the issuance of Executive

Order 13043 of April 16, 1997,

‘‘IncreasingSeat Belt Use in the United

States’’ (Order). Under Section 1(c), after

the date of the Order, each Federal

agency was required to seek to

encourage contractors, subcontractors,

and grantees to adopt and enforce onthe-job seat belt policies and programs

for their employees when operating

company-owned, rented, or personally

owned vehicles. Section 2 of the Order

directed all agencies of the executive

branch to promulgate rules and take

other appropriate measures within their

existing programs to further the policies

of the Order.

The Department published an interim

final rule on December 27, 1999,

because there had been no governmentwide implementation of this policy.

This final rule applies to grants and

cooperative agreements awarded by the

Department, and provides a regulatory

basis for the inclusion of a provision in

grants and cooperative agreements

awarded by the Department.

In the event that the Office of

Management and Budget (OMB) chooses

to implement this requirement through

the issuance of a government-wide

directive, the Department will revise

this regulation, as appropriate.

DATES: Effective July 17, 2000.

FOR FURTHER INFORMATION CONTACT:

Debra E. Sonderman, (Director,Office of

Acquisition and Property Management),

(202) 208–6431.

SUPPLEMENTARY INFORMATION: On April

16, 1997, Executive Order 13043,

‘‘Increasing Seat Belt Use in the United

States,’’ was signed by President

Clinton. Section 1(c) directed each

Federal agency, in contracts,

subcontracts, and grants entered into

after the date of the Order, to encourage

contractors, subcontractors, and

grantees to adopt and enforce on-the-job

seat belt policies and programs for their

employees when operating companyowned, rented, or personally-owned

vehicles. Section 2 directed all agencies

of the executive branch to promulgate

rules and take other appropriate

measures within their existing programs

to further the policies of the Order.

The Department is revising Subpart A

of 43 CFR part 12, to implement the

requirements of the Executive Order for

grants/cooperative agreements awarded

by bureaus/offices. The requirements

also apply to subawards made under a

grant or cooperative agreement.

OMB generally publishes governmentwide administrative requirements for

grants and cooperative agreements and

agencies implement these requirements

in regulations. Agencies have not been

officially notified by OMB that they

intend to publish government-wide

requirements to implement the Order.

Because of the need to implement the

Order’s requirements, the Department is

publishing this regulation to cover the

Department’s awards of grants and

cooperative agreements. Through this

regulation the Department will include

a provision in grants and cooperative

agreements awarded by the Department

encouraging recipients to adopt and

enforce on-the-job seat belt use policies

and programs consistent with the Order.

For those bureaus/offices within the

Department which prefer to simply

reference this rule as 43 CFR part 12,

inclusion of the specific provision will

not be required.

Compliance With Laws, Executive

Orders, and Department Policy

This document was not subject to

review by the Office of Management and

Budget under Executive Order 12866.

This rule will not have an effect of

$100 million or more on the economy.

It will not adversely affect in a material

way the economy, productivity,

competition, jobs, the environment,

public health or safety, or State, local,

or tribal governments or communities.

This rule will not create a serious

inconsistency or otherwise interfere

with an action taken or planned by

another agency.

This rule does not alter the budgetary

effects or entitlements, grants, user fees,

or loan programs or the rights or

obligations of their recipients.

This rule does not raise novel legal or

policy issues.

The Department certifies that this rule

will not have a significant economic

effect on a substantial number of small

entities under the Regulatory Flexibility

Act (5 U.S.C. 601 et seq.). The

Department has determined that this

rule will not have a significant

economic impact on small entities since

any efforts undertaken by grantees to

implement the requirements of the

Order are not expected to have a

significant economic impact and no

additional costs will be imposed as a

result of this rule. Most grantees

probably already have programs in place

to conduct education and awareness

programs about the importance of

wearing seat belts and the consequences

of not wearing them.

This rule is not a major rule under 5

U.S.C. 804(2), the Small Business

Regulatory Enforcement Fairness Act.

This rule:

a. Does not have an annual effect on

the economy of $100 million or more.

Most grantees probably already have

programs in place to conduct education

and awareness programs about the

importance of wearing seat belts and the

consequences of not wearing them.

b. Will not cause a major increase in

costs or prices for consumers,

individual industries, Federal, State, or

local government agencies, or

geographic regions. Grantees are being

encouraged to adopt and enforce on-theVerDate 11<MAY>2000 11:33 Jun 15, 2000 Jkt 190000 PO 00000 Frm 00014 Fmt 4700 Sfmt 4700 E:\FR\FM\16JNR1.SGM pfrm07 PsN: 16JNR1