This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents. Prices of

new books are listed in the first FEDERAL

REGISTER issue of each week.

Rules and Regulations Federal Register

20423 

Vol. 72, No. 79 

Wednesday, April 25, 2007 

DEPARTMENT OF HOMELAND 

SECURITY 

6 CFR Part 27 

[DHS–2007–0025] 

Notice to Facilities to Begin 

Registration for Chemical Security 

Assessment Tool 

AGENCY: Department of Homeland 

Security. 

ACTION: Notice. 

SUMMARY: The Department of Homeland 

Security (DHS or Department) 

recommends that chemical facilities 

begin the registration process to gain 

access to the Chemical Security 

Assessment Tool (CSAT) system. This is 

a voluntary registration process for 

facilities that think they may be covered 

by DHS’s Chemical Facility AntiTerrorism Standards located in 6 CFR 

Part 27 and that would like to initiate 

the process to determine whether or not 

they are covered by 6 CFR Part 27. 

DATES: Effective April 25, 2007. 

FOR FURTHER INFORMATION CONTACT: 

Matthew Bettridge, Chemical Security 

Regulatory Task Force, Department of 

Homeland Security, 703–235–5263. 

SUPPLEMENTARY INFORMATION: Section 

550 of the Homeland Security 

Appropriations Act of 2007 provided 

the Department of Homeland Security 

(DHS or Department) with authority to 

promulgate ‘‘interim final regulations’’ 

for the security of certain chemical 

facilities in the United States. See Pub. 

L. 109–295, sec. 550. On December 28, 

2006, the Department issued an 

Advance Notice of Rulemaking seeking 

comment on the significant issues and 

regulatory text (see 71 FR 78276), and 

on April 9, 2007, the Department 

published an Interim Final Rule 

establishing anti-terrorism standards for 

chemical facilities (see 72 FR 17688). 

The Interim Final Rule is effective June 

8, 2007. 

Although the Interim Final Rule does 

not go into effect until June, DHS 

strongly recommends that facilities 

begin the registration process as soon as 

possible to gain access to the Chemical 

Security Assessment Tool (CSAT) 

system. The CSAT is a suite of four 

applications, including the User 

Registration, Top-Screen, Security 

Vulnerability Assessment, and Site 

Security Plan, through which the 

Department will collect and analyze key 

data from chemical facilities. Facilities 

will submit information to DHS through 

an on-line, web-based component of the 

CSAT system. CSAT user registration is 

the first step in the process of 

determining whether or not facilities are 

covered by the Interim Final Rule. 

In the course of the CSAT user 

registration process, facilities will 

provide basic information to DHS (e.g., 

the name, contact information, and 

mailing address for the submitter), and 

DHS will, in turn, provide each 

approved CSAT user with a user 

identification and password, so that 

they can access the CSAT system. DHS 

will provide approved users with user 

identifications and passwords in the 

weeks just before the interim final rule 

becomes effective (i.e., June 8, 2007). 

By beginning and encouraging early 

user registration, DHS believes that it 

will facilitate the efficient roll-out of the 

Interim Final Rule. The registration 

process can take some time, as there are 

several parts involved: Potential users 

must complete an online form, DHS 

must create an account, and potential 

users must then sign the user 

registration form and return it to DHS. 

Facilities who have registered early will 

have completed this process and will be 

able to begin completing the Top-Screen 

as soon as the rule goes into effect. 

Until the effective date of the rule, 

this is a voluntary registration process 

for facilities that think they may be 

covered by DHS’s Chemical Facility 

Anti-Terrorism Standards located in 6 

CFR Part 27 and that would like to 

initiate the process to determine 

whether or not they are covered by 6 

CFR Part 27. By registering with DHS, 

facilities will obtain access to the CSAT 

system, so that they can obtain a user 

registration and password, complete the 

Top-Screen, etc. Note that this Federal 

Register Notice is not notice under 6 

CFR 27.200(b) that DHS is seeking 

information from certain chemical 

facilities. This notice does not impose 

any obligation or requirement on any 

party. Instead, it simply provides 

written notice of the Web site available 

for parties voluntarily choosing to 

access the CSAT system. 

To begin the CSAT registration 

process, facilities should go to http:// 

www.DHS.gov/chemicalsecurity and 

follow the instructions for gaining 

access to the CSAT system. DHS has 

activated this CSAT Web page 

concurrent with its publication of the 

interim final rule on April 9, 2007. In 

addition, DHS notes that it has 

established a help desk for CSAT users. 

The phone number for the help desk is 

located on the CSAT Web page. 

Robert B. Stephan, 

Assistant Secretary for Infrastructure 

Protection, Department of Homeland 

Security. 

[FR Doc. E7–7923 Filed 4–24–07; 8:45 am] 

BILLING CODE 4410–10–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9315] 

RIN 1545–BD10 

Dual Consolidated Loss Regulations; 

Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Correcting amendments. 

SUMMARY: This document contains 

corrections to final regulations (TD 

9315) that were published in the 

Federal Register on Monday, March 19, 

2007 (72 FR 12902) regarding dual 

consolidated losses. Section 1503(d) 

generally provides that a dual 

consolidated loss of a dual resident 

corporation cannot reduce the taxable 

income of any other member of the 

affiliated group unless, to the extent 

provided in regulations, the loss does 

not offset the income of any foreign 

corporation. 

DATES: These correcting amendments 

are effective April 25, 2007. 


cprice-sewell on PRODPC61 with RULES
20424 Federal Register / Vol. 72, No. 79 / Wednesday, April 25, 2007 / Rules and Regulations 

FOR FURTHER INFORMATION CONTACT: 

Jeffrey P. Cowan, (202) 622–3860 (not a 

toll-free number). 

SUPPLEMENTARY INFORMATION: 

Background 

The final regulations that are the 

subject of this document are under 

section 1503(d) of the Internal Revenue 

Code. 

Need for Correction 

As published, final regulations (TD 

9315) 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 amendments: 

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 * * * 

■ Par. 2. Section 1.1503(d)–0 is 

amended by revising the entries (1) and 

(2) of Section 1.1503(d)–8(b). The 

revisions read as follows: 

§ 1.1503(d)–0 Table of contents. 

* * * * * 

§ 1.1503(d)–8 Effective dates. 

* * * * * 

(b) * * * 

(1) Reduction of term of agreements 

filed under §§ 1.1503–2A(c)(3), 1.1503–

2A(d)(3), 1.1503–2(g)(2)(i), or 1.1503–

2T(g)(2)(i). 

(2) Reduction of term of agreements 

filed under §§ 1.1503–2(g)(2)(iv)(B)(2)(i) 

(1992), 1.1503–2(g)(2)(iv)(B)(3)(i), or 

Rev. Proc. 2000–42. 

* * * * * 

■ Par. 3. Section 1.1503(d)–5 is 

amended by revising the last sentence of 

paragraph (a), the second sentence of 

paragraph (c)(4)(i)(A), and the only 

sentence of paragraph (d) to read as 

follows: 

§ 1.1503(d)–5 Attribution of items and 

basis adjustments. 

(a) * * * The rules in this section 

apply for purposes of §§ 1.1503(d)–1 

through 1.1503(d)–7. 

* * * * * 

(c) * * * 

(4) * * * 

(i) * * * 

(A) * * * For purposes of 

determining items of income, gain, 

deduction, and loss of the domestic 

owner that are attributable to the 

domestic owner’s foreign branch 

separate unit described in the preceding 

sentence, only items of income, gain, 

deduction, and loss that are attributable 

to the domestic owner’s interest in the 

hybrid entity, or transparent entity, as 

provided in paragraph (c)(3) of this 

section, shall be taken into account. 

* * * 

* * * * * 

(d) * * * The fact that a particular 

item taken into account in computing 

the income or dual consolidated loss of 

a dual resident corporation or a separate 

unit, or the income or loss of an interest 

in a transparent entity, is not taken into 

account in computing income (or loss) 

subject to a foreign country’s income tax 

shall not cause such item to be excluded 

from being taken into account under 

paragraph (b), (c), or (e) of this section. 

* * * * * 

■ Par. 4. Section 1.1503(d)–7(c) is 

amended by revising the last sentence of 

paragraph (iv) of Example 5 and the last 

sentence of paragraph (C) of Example 

40(ii). 

The revisions read as follows: 

§ 1.1503(d)–7 Examples. 

* * * * * 

(c) * * * 

Example 5. * * * 

(iv) * * * In addition, pursuant to 

§ 1.1503(d)–6(f)(1) and (3), the deemed 

transfers pursuant to Rev. Rul. 99–5 as a 

result of the sale are not treated as triggering 

events described in § 1.1503(d)–6(e)(1)(iv) or 

(v). 

* * * * * 

Example 40. * * * 

(ii) * * * 

(C) * * * Pursuant to § 1.1503(d)–

6(j)(1)(iii), the domestic use agreement filed 

by the P consolidated group with respect to 

the year 1 dual consolidated loss of the 

Country X separate unit is terminated and 

has no further effect. 

* * * * * 

■ Par. 5. Section 1.1503(d)–8 is 

amended by revising the heading texts 

of paragraphs (b)(1) and (2), the only 

sentence of paragraph (b)(1), the first 

sentence of paragraph (b)(2) and the last 

sentence of paragraph (b)(4). 

The revisions read as follows: 

§ 1.1503(d)–8 Effective dates. 

* * * * * 

(b) * * * 

(1) Reduction of term of agreements 

filed under §§ 1.1503–2A(c)(3), 1.1503– 

2A(d)(3), 1.1503–2(g)(2)(i), or 1.1503– 

2T(g)(i). If an agreement is filed in 

accordance with §§ 1.1503–2A(c)(3), 

1.1503–2A(d)(3), 1.1503–2(g)(2)(i), or 

1.1503–2T(g)(2)(i) with respect to a dual 

consolidated loss incurred in a taxable 

year beginning prior to the application 

date and an event requiring recapture 

with respect to the dual consolidated 

loss subject to the agreement has not 

occurred as of the application date, then 

such agreement will be considered by 

the Internal Revenue Service to apply 

only for any taxable year up to and 

including the fifth taxable year 

following the year in which the dual 

consolidated loss that is the subject of 

the agreement was incurred and 

thereafter will have no effect. 

(2) Reduction of term of agreements 

filed under §§ 1.1503–2(g)(2)(iv)(B)(2)(i) 

(1992), 1.1503–2(g)(2)(iv)(B)(3)(i), or 

Rev. Proc. 2000–42. Taxpayers subject to 

the terms of a closing agreement entered 

into with the Internal Revenue Service 

pursuant to §§ 1.1503–2(g)(2)(iv)(B)(2)(i) 

(1992), 1.1503–2(g)(2)(iv)(B)(3)(i), or 

Rev. Proc. 2000–42 (2000–2 CB 394), see 

§ 601.601(d)(2)(ii)(b) of this chapter, will 

be deemed to have satisfied the closing 

agreement’s fifteen-year certification 

period requirement if the five-year 

certification period specified in 

§ 1.1503(d)–1(b)(20) has elapsed, 

provided such closing agreement is still 

in effect as of the application date, and 

provided the dual consolidated losses 

have not been recaptured. * * * 

* * * * * 

(4) * * * Notwithstanding the general 

application of this paragraph (b)(4) to 

events described in § 1.1503–

2(g)(2)(iv)(B)(1)(i) through (iii) that 

occur after April 18, 2007, a taxpayer 

may choose to apply this paragraph 

(b)(4) to events described in § 1.1503–

2(g)(2)(iv)(B)(1)(i) through (iii) that 

occur after March 19, 2007 and on or 

before April 18, 2007. 

* * * * * 

LaNita Van Dyke, 

Chief, Publications and Regulations Branch, 

Legal Processing Division, Associate Chief 

Counsel, (Procedure and Administration). 

[FR Doc. E7–7782 Filed 4–24–07; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[TD 9315] 

RIN 1545–BD10 

Dual Consolidated Loss Regulations; 

Correction 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 


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