4042 Federal Register / Vol. 71, No. 16 / Wednesday, January 25, 2006 / Rules and Regulations 

section 1291 even though the foreign 

corporation in which they own stock is 

no longer treated as a PFIC under 

section 1297(a) or (e). 

DATES: This correction is effective 

December 8, 2005. 

FOR FURTHER INFORMATION CONTACT: 

Ethan Atticks, (202) 622–3840 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

The temporary regulations are under 

sections 1291(d)(2), 1297(e) and 

1298(b)(1) of the Internal Revenue Code. 

Need for Correction 

As published, the temporary 

regulations (TD 9232) contain errors that 

may prove to be misleading and are in 

need of clarification. 

List of Subjects in 26 CFR Part 1 

Income taxes, Reporting and 

recordkeeping requirements. 

Correction of Publication 

■ Accordingly, 26 CFR part 1 is 

corrected by making the following 

correcting amendment: 

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 * * *. 

§ 1.1297–3T [Corrected] 

■ 1. Section 1.1297–3T(e)(1)(i), the 

language ‘‘December 31, 2005’’ is 

removed and the language ‘‘June 30, 

2006’’ is added in its place. 

■ 2. Section 1.1298–3T(e)(1)(i), the 

language ‘‘December 31, 2005’’ is 

removed and the language ‘‘June 30, 

2006’’ is added in its place. 

Cynthia E. Grigsby, 

Acting Chief, Publications and Regulations 

Branch, Legal Processing Division, Associate 

Chief Counsel, (Procedure and 

Administration). 

[FR Doc. 06–682 Filed 1–24–06; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9232] 

RIN 1545–BD33 

Guidance on Passive Foreign 

Investment Company (PFIC) Purging 

Elections; Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correction to temporary 

regulation. 

SUMMARY: This document contains a 

correction to temporary regulations that 

were published in the Federal Register 

on Thursday, December 8, 2005 (70 FR 

72908) that provide certain elections for 

taxpayers that continue to be subject to 

the PFIC excess distribution regime of 

section 1291 even though the foreign 

corporation in which they own stock is 

no longer treated as a PFIC under 

section 1297(a) or (e). 

FOR FURTHER INFORMATION CONTACT: 

Ethan Atticks, (202) 622–3840 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

The temporary regulation that is the 

subject of this correction is under 

sections 1291(d)(2), 1297(e) and 

1298(b)(1) of the Internal Revenue Code. 

Need for Correction 

As published, the temporary 

regulation (TD 9232) contain an error 

that may prove to be misleading and is 

in need of clarification. 

Correction of Publication 

■ Accordingly, the publication of the 

temporary regulation (TD 9232), which 

were the subject of FR Doc. 05–23630, 

is corrected as follows: 

■ On page 72909, column 1, in the 

preamble under the caption heading 

DATES, lines 4 and 5, the language 

‘‘applicability, see §§ 1.1297–

3T(f),1.1298–3T(f) is corrected to read 

‘‘applicability, see §§ 1.1291–9T(K), 

1.1297–3T(f), and 1.1298–3T(f).’’. 

Cynthia E. Grigsby, 

Acting Chief, Publications and Regulations 

Branch, Legal Processing Division, Associate 

Chief Counsel, (Procedure and 

Administration). 

[FR Doc. 06–683 Filed 1–24–06; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Parts 31 and 32 

[TD 9233] 

RIN 1545–BC89 

Sickness or Accident Disability 

Payments; Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correction to final regulations. 

SUMMARY: This document corrects final 

regulations (TD 9233) that were 

published in the Federal Register on 

December 15, 2005 (70 FR 74198). The 

final regulations provide guidance 

regarding the treatment of payments 

made on account of sickness or accident 

disability under a workers’

compensation law for purposes of the 

Federal Insurance Contributions Act 

(FICA). 

DATES: This correction is effective 

December 15, 2005. 

FOR FURTHER INFORMATION CONTACT: 

David Ford (202) 622–6040 (not a tollfree number). 

SUPPLEMENTARY INFORMATION: 

Background 

The final regulations (TD 9233) that 

are the subject of this correction are 

under section 3121 of the Internal 

Revenue Code. 

Need for Correction 

As published, the final regulation (TD 

9233) contain errors that may prove to 

be misleading and are in need of 

clarification. 

Correction of the Publication 

Accordingly, the publication of the 

final regulations (TD 9233), which were 

the subject of FR Doc. 05–23945, is 

corrected as follows: 

1. On page 74198, column 2, in the 

preamble under the paragraph heading 

‘‘Background’’, lines 5 and 6, the 

language ‘‘for Federal Insurance 

Contributions Act (FICA) purposes 

payments made on ‘‘ is corrected to read 

‘‘for FICA purposes payment made on’’. 

2. On page 74199, column 1, in the 

preamble under the paragraph heading 

‘‘Explanation of Provisions’’, first 

paragraph of the column, line 3, the 

language ‘‘extent necessary. The Service 


cprice-sewell on PROD1PC66 with RULES
Federal Register / Vol. 71, No. 16 / Wednesday, January 25, 2006 / Rules and Regulations 4043 

has’’ is corrected to read ‘‘extent 

necessary. The IRS has’’. 

Cynthia E. Grigsby, 

Acting Chief, Publications and Regulations 

Branch, Legal Processing Division, Associate 

Chief Counsel, (Procedure and 

Administration). 

[FR Doc. 06–681 Filed 1–24–06; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[CGD 13–06–002] 

RIN 1625–AA00 

Safety Zone: North Portland Harbor 

Dredging Operations; Portland, OR 

AGENCY: Coast Guard, DHS. 

ACTION: Temporary final rule. 

SUMMARY: The Coast Guard is 

establishing a temporary safety zone on 

the Columbia River, in the vicinity of 

Hayden Island at North Portland Harbor. 

The Captain of the Port, Portland, 

Oregon is taking this action to safeguard 

individuals and vessels from safety 

hazards associated with dredging 

operations. Entry into this safety zone is 

prohibited unless authorized by the 

Captain of the Port. 

DATES: This rule is effective from 

January 17, 2005 8 a.m. (PST) through 

March 15, 2005 at 5 p.m. (PST). 

ADDRESSES: Documents indicated in this 

preamble as being available in the 

docket are part of docket [CGD13–06–

002] and are available for inspection or 

copying at U. S. Coast Guard Sector 

Portland, 6767 North Basin Ave. 

Portland, Oregon 97217 between 7 a.m. 

and 4 p.m., Monday through Friday, 

except Federal holidays. 

FOR FURTHER INFORMATION CONTACT: 

Petty Officer Charity Keuter, c/o Captain 

of the Port Portland, 6767 N. Basin Ave. 

Portland, Oregon 97217 at 503–240–

9301. 

SUPPLEMENTARY INFORMATION: 

Regulatory Information 

We did not publish a notice of 

proposed rulemaking (NPRM) for this 

regulation. Under 5 U.S.C. 553(b)(B) and 

5 U.S.C. 553(d)(3), the Coast Guard finds 

that good cause exists for not publishing 

an NPRM and for making this rule 

effective less than 30 days after 

publication in the Federal Register. The 

Coast Guard did not receive notice of 

this operation until 7 days prior to the 

beginning of the operation. The 

dredging operation will have a floating 

pipeline that will stretch from Port of 

Portland Terminal 6 to the lower end of 

Hayden Island and on to Kelly Point 

Park. This pipeline will be a hazard to 

navigation due to location and vessel 

traffic in the area. 

If normal notice and comment 

procedures were followed, this rule 

would not become effective until after 

the dates of the event. For this reason, 

following normal rulemaking 

procedures in this case would be 

impracticable and contrary to the public 

interest. 

Background and Purpose 

The Coast Guard is establishing a 

temporary safety zone regulation to 

allow for safe dredging operation. This 

operation is necessary for the 

improvement of the Port of Portland 

Terminal 6, since in the coming months 

a new crane will be brought in to allow 

the Port to accompany larger vessels and 

more containers. This safety zone will 

be in effect during the time of January 

17, 2006 to March 15, 2006 while the 

floating pipeline is in the water. This 

safety zone will be enforced by 

representatives of the Captain of the 

Port, Portland, Oregon. The Captain of 

the Port may be assisted by other 

Federal and local agencies. 

Discussion of Rule 

This rule, for safety concerns, will 

control individuals and vessel 

movement in a regulated area 

surrounding the dredging operation. 

Due to safety concerns and likely 

delays, entry into this zone is prohibited 

unless authorized by the Captain of the 

Port, Portland or his designated 

representative. Those boaters transiting 

between the Columbia River and North 

Portland Harbor are requested to use the 

upriver end of Hayden Island. The 

Captain of the Port may be assisted by 

other Federal and local agencies. 

Regulatory Evaluation 

This rule is not a ‘‘significant 

regulatory action’’ under section 3(f) of 

Executive Order 12866, Regulatory 

Planning and Review, and does not 

require an assessment of potential costs 

and benefits under section 6(a)(3) of that 

Order. The Office of Management and 

Budget has not reviewed it under that 

Order. It is not ‘‘significant’’ under the 

regulatory policies and procedures of 

the Department of Homeland Security 

(DHS). The Coast Guard expects the 

economic impact of this rule to be so 

minimal that a full regulatory evaluation 

under the regulatory policies and 

procedures of the DHS is unnecessary. 

This expectation is based on the fact 

that this rule will be in effect for the 

minimum time necessary to safely 

conduct the dredging operation. While 

this rule is in effect, traffic will be 

allowed to pass through the zone with 

the permission of the Captain of the Port 

or his designated representatives onscene, if safe to do so and that traffic can 

be rerouted to another entrance into the 

Oregon Slough at the upriver end of 

Hayden Island. 

Small Entities 

Under the Regulatory Flexibility Act 

(5 U.S.C. 601–612), we have considered 

whether this rule would have a 

significant economic impact on a 

substantial number of small entities. 

The term ‘‘small entities’’ comprises 

small businesses, not-for-profit 

organizations that are independently 

owned and operated and are not 

dominant in their fields, and 

governmental jurisdictions with 

populations of less than 50,000. 

The Coast Guard certifies under 5 

U.S.C. 605(b) that this rule will not have 

a significant economic impact on a 

substantial number of small entities. 

This rule will affect the following 

entities, some of which may be small 

entities: the owners or operators of 

vessels intending to transit the 

designated area at the corresponding 

time as drafted in this rule. This safety 

zone will not have a significant 

economic impact on a substantial 

number of small entities for the 

following reasons. Traffic will be 

allowed to pass through the zone at 

selected times with the permission of 

the Captain of the Port or his designated 

representative on scene, if safe to do so 

and that boaters transiting the Oregon 

Slough can gain access to it by the 

upriver end of Hayden Island on the 

Columbia River. Before the effective 

period, we will issue maritime 

advisories widely available to users of 

the river. Because the impacts of this 

proposal are expected to be so minimal, 

the Coast Guard certifies under 5 U.S.C. 

605(b) that this final rule will not have 

a significant economic impact on a 

substantial number of small entities. 

If you think that your business, 

organization, or governmental 

jurisdiction qualifies as a small entity 

that this rule would have a significant 

economic impact on it, please submit a 

comment (see ADDRESSES) explaining 

why you think it qualifies and how and 

what degree this rule would 

economically affect it. 

Assistance for Small Entities 

Under section 213(a) of the Small 

Business Regulatory Enforcement 


cprice-sewell on PROD1PC66 with RULES