Federal Register / Vol. 62, No. 203 / Tuesday, October 21, 1997 / Notices 54687

Department’s personnel security

program established in TO 102–17

(hereafter ‘‘personnel security

program’’), except:

a. any matter in which, by law,

executive order, or regulation of outside

agencies, the personal decision of the

head of the agency or principal deputy

is required; and

b. the Assistant Secretary

Management and Chief Financial Officer

shall appoint members of any security

appeals panel convened pursuant to

section 5.2 of Executive Order (E.O.)

12968, ‘‘Access to Classified

Information.’’

2. Redelegation.

a. The Director, Office of Security,

shall redelegate to bureau heads and the

Inspector General the authority to

perform the operating functions relating

to personnel security, except as stated in

paragraph 2.c. and Section 4 below, but

including:

(1) the designation of position

sensitivity; and

(2) making determinations of

eligibility for access to classified

information, and the consequent

granting, suspending, denying, and

revoking of access to classified

information, in conformity with the

provisions of E.O. 12968;

b. Any authority so delegated to a

bureau head or the Inspector General

may be further redelegated, with the

concurrence of the Director, Office of

Security, within bureau headquarters or

the Office of Inspector General.

c. The Assistant Director (Personnel

Security), Office of Security, shall

perform the operating functions relating

to personnel security for the

Departmental Offices.

3. Responsibilities. The Director,

Office of Security, serves as the

principal adviser to the Assistant

Secretary Management and Chief

Financial Officer with respect to the

Department’s personnel security

program, and shall:

a. define the operating functions

relating to personnel security and

prescribe uniform policies and general

procedures in Treasury Department

Publication (TD P) 71–10, ‘‘Department

of the Treasury Security Manual;’’

b. serve as a member of, and chair,

any security appeals panel convened

pursuant to section 5.2 of E.O. 12968;

c. be responsible for overseeing and

implementing the National Industrial

Security Program within the Department

pursuant to E.O. 12829, ‘‘National

Industrial Security Program,’’

concerning contractors, subcontractors,

vendors, and suppliers requiring access

to classified information or material;

d. conduct periodic evaluations of

implementation and administration of

the personnel security program

throughout the Department;

e. represent the Department on all

interagency committees and act as

liaison with the Security Policy Board,

Federal agencies, and the White House

concerning personnel security matters;

and

f. act as liaison with the Department

of Energy on all matters pertaining to

clearances for access to information

designated ‘‘Restricted Data’’ or

‘‘Formerly Restricted Data’’ pursuant to

the Atomic Energy Act of 1954, as

amended.

4. Reserved Functions. The following

functions are reserved to the Director,

Office of Security, and may not be

redelegated outside of the Office of

Security:

a. receiving all reports of

investigations involving loyalty matters

on Department of the Treasury

employees and potential employees,

and directing such matters to

appropriate authorities for processing or

resolution;

b. assuming jurisdiction for all cases

within the Department involving a

potential determination that an

employee should be suspended,

reassigned, or terminated on the

grounds that such action is necessary in

the interests of the national security

pursuant to E.O. 10450, ‘‘Security

Requirements for Government

Employment,’’ and 5 U.S.C. 7532;

c. making disclosure determinations

concerning loyalty information

contained in personnel security files

throughout the Department pursuant to

31 CFR Part 1, including requests for

disclosure under the Freedom of

Information Act or Privacy Act (5 U.S.C.

552 and 552a); and

d. designating position sensitivity and

making determinations of eligibility for

access to classified information, and the

consequent granting, suspending,

denying, and revoking of access to

classified information, in conformity

with the provisions of E.O. 12968, for

the following positions:

(1) all presidential appointees in the

Department requiring confirmation by

the Senate, and the Inspector General, to

the extent of the Department’s authority

with respect to these officials;

(2) heads of bureaus and their first

deputies; and

(3) bureau security officers and any

official to whom the authority to grant

security clearances has been delegated.

5. Special Assistant To The Secretary

(National Security). The responsibilities

of the Special Assistant to the Secretary

(National Security) are not affected by

this Directive.

6. Authorities.

a. E.O. 10450, ‘‘Security Requirements

for Government Employment,’’ dated

April 27, 1953, as amended.

b. E.O. 12968, ‘‘Access to Classified

Information,’’ dated August 2, 1995.

c. E.O. 12958, ‘‘Classified National

Security Information,’’ dated October

17, 1995, as amended.

d. E.O. 12829, ‘‘National Industrial

Security Program,’’ dated January 6,

1993, as amended.

e. 5 U.S.C. 7531–7533.

f. TO 102–17, ‘‘Delegation of

Authority Concerning the Personnel

Security Program,’’ dated May 2, 1996.

7. References.

a. TD P 71–10, ‘‘Department of the

Treasury Security Manual.’’

b. The Atomic Energy Act of 1954 (42

U.S.C. 2011).

c. Presidential Decision Directive 29,

‘‘Security Policy Coordination,’’ dated

September 16, 1994.

8. Cancellation. TD 12–32,

‘‘Delegation of Authority Concerning

Personnel Security,’’ dated January 10,

1995, is superseded.

9. Expiration Date. This Directive

expires three years after the date of

issuance unless cancelled or superseded

by that date.

10. Office of Primary Interest. Office

of Security, Office of the Assistant

Secretary for Management and Chief

Financial Officer.

Nancy Killefer,

Assistant Secretary for and Chief Financial

Officer.

[FR Doc. 97–27823 Filed 10–20–97; 8:45 am]

BILLING CODE 4810–25–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[INTL–112–88]

Proposed Collection; Comment

Request for Regulation Project

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, as part of its continuing effort

to reduce paperwork and respondent

burden, invites the general public and

other Federal agencies to take this

opportunity to comment on proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995, Pub.

L. 104–13 (44 U.S.C. 3506(c)(2)(A)).
54688 Federal Register / Vol. 62, No. 203 / Tuesday, October 21, 1997 / Notices

Currently, the IRS is soliciting

comments concerning an existing final

regulation, INTL–112–88 (TD 8337),

Allocation and Apportionment of

Deduction for State Income Taxes

(§ 1.861–8(e)(6)).

DATES: Written comments should be

received on or before December 22, 1997

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the information collection

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5569, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Allocation and Apportionment

of Deduction for State Income Taxes.

OMB Number: 1545–1224.

Regulation Project Number: INTL–

112–88.

Abstract: This regulation provides

guidance on when and how the

deduction for state income taxes is to be

allocated and apportioned between

gross income from sources within and

without the United States in order to

determine the amount of taxable income

from those sources. The reporting

requirements in the regulation affect

those taxpayers claiming foreign tax

credits who elect to use an alternative

method from that described in the

regulation to allocate and apportion

deductions for state income taxes.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations.

Estimated Number of Respondents:

1,000.

Estimated Time Per Respondent: 1

hour.

Estimated Total Annual Burden

Hours: 1,000.

The following paragraph applies to all

of the collections of information covered

by this notice:

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid OMB control number.

Books or records relating to a collection

of information must be retained as long

as their contents may become material

in the administration of any internal

revenue law. Generally, tax returns and

tax return information are confidential,

as required by 26 U.S.C. 6103.

Request for Comments

Comments submitted in response to

this notice will be summarized and/or

included in the request for OMB

approval. All comments will become a

matter of public record. Comments are

invited on: (a) Whether the collection of

information is necessary for the proper

performance of the functions of the

agency, including whether the

information shall have practical utility;

(b) the accuracy of the agency’s estimate

of the burden of the collection of

information; (c) ways to enhance the

quality, utility, and clarity of the

information to be collected; (d) ways to

minimize the burden of the collection of

information on respondents, including

through the use of automated collection

techniques or other forms of information

technology; and (e) estimates of capital

or start-up costs and costs of operation,

maintenance, and purchase of services

to provide information.

Approved: October 15, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–27866 Filed 10–20–97; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[FI–43–94]

Proposed Collection; Comment

Request for Regulation Project

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice and request for

comments.

SUMMARY: The Department of the

Treasury, as part of its continuing effort

to reduce paperwork and respondent

burden, invites the general public and

other Federal agencies to take this

opportunity to comment on proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995, Pub.

L. 104–13 (44 U.S.C. 3506(c)(2)(A)).

Currently, the IRS is soliciting

comments concerning an existing final

regulation, FI–43–94 (TD 8649),

Regulations Under Section 1258 of the

Internal Revenue Code of 1986; Netting

Rule for Certain Conversion

Transactions (§ 1.1258–1).

DATES: Written comments should be

received on or before December 22, 1997

to be assured of consideration.

ADDRESSES: Direct all written comments

to Garrick R. Shear, Internal Revenue

Service, room 5571, 1111 Constitution

Avenue NW., Washington, DC 20224.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or

copies of the information collection

should be directed to Carol Savage,

(202) 622–3945, Internal Revenue

Service, room 5569, 1111 Constitution

Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

Title: Regulations Under Section 1258

of the Internal Revenue Code of 1986;

Netting Rule for Certain Conversion

Transactions.

OMB Number: 1545–1452.

Regulation Project Number: FI–43–94.

Abstract: Internal Revenue Code

section 1258 recharacterizes capital

gains from conversion transactions as

ordinary income to the extent of the

time value element. This regulation

provides that certain gains and losses

may be netted for purposes of

determining the amount of gain

recharacterized. To be eligible for

netting relief, the taxpayer must identify

on its books and records all the

positions that are part of the conversion

transaction. This must be done before

the close of the day on which the

positions become part of the conversion

transaction.

Current Actions: There is no change to

this existing regulation.

Type of Review: Extension of a

currently approved collection.

Affected Public: Business or other forprofit organizations, and not-for-profit

institutions.

Estimated Number of Respondents:

50,000.

Estimated Time Per Respondent: 6

minutes.

Estimated Total Annual Burden

Hours: 5,000.

The following paragraph applies to all

of the collections of information covered

by this notice:

An agency may not conduct or

sponsor, and a person is not required to

respond to, a collection of information

unless the collection of information

displays a valid OMB control number.

Books or records relating to a collection

of information must be retained as long

as their contents may become material

in the administration of any internal

revenue law. Generally, tax returns and

tax return information are confidential,

as required by 26 U.S.C. 6103.

Request for Comments

Comments submitted in response to

this notice will be summarized and/or

included in the request for OMB

approval. All comments will become a

matter of public record. Comments are

invited on: (a) Whether the collection of

information is necessary for the proper

performance of the functions of the