Federal Register / Vol. 62, No. 26 / Friday, February 7, 1997 / Notices 5881

1See Exempt. of Rail Abandonment—Offers of

Finan. Assist., 4 I.C.C.2d 164 (1987).

deflection) will not necessarily

eliminate light from down the road as

shown by the example. Additionally,

the likelihood of the light source being

damaged by installation is probably very

small. Furthermore, the other headlamp

on the vehicle (presumably in

compliance) would not be affected and

would continue to help illuminate the

roadway, even if there were an adverse

change in illumination from the

headlamp with the damaged light

source. Also as Philips stated regarding

filament location, many other factors are

involved in roadway illumination for a

particular vehicle, e.g. trunk loads move

the aim upward and would move the

seeing point farther away. Additionally,

most state laws on headlamp aim allow

headlamp aim range to be ±0.75 degree.

This is over twice the angular error that

might result from the worst Philips light

source tested. Thus, viewing the totality

of the task of properly illuminating the

roadway, the probability is very small

that any one of the Philips’ light sources

would result in a materially higher risk

of crash involvement.

The agency does not consider PLC’s

comparison of the FMVSS and SAE

tolerances as relevant to this decision.

The SAE tolerances are recommended

industry practices, but the FMVSS

tolerances are mandatory Federal

standards.

Overall, for the reasons expressed

above, the petitioner has met its burden

of persuasion that the noncompliance

herein described is inconsequential to

motor vehicle safety, and the agency

grants PLC’s application for exemption

from notification of the noncompliance

as required by 49 U.S.C. 30118 and from

remedy as required by 49 U.S.C. 30120.

Although PLC also requested that it be

permitted to distribute and sell the

noncomplying light sources, the

agency’s authority under the

inconsequentiality provisions is limited

to providing relief from the obligation to

notify and remedy noncompliances for

items already sold to customers.

Accordingly, the further sale or

distribution of such light sources as PLC

has determined do not conform to

FMVSS No. 108, whether by PLC or its

distributors, would violate 49 U.S.C.

30112(a), and render the violaters liable

for civil penalties.

(49 U.S.C. 30118, 30120; delegations of

authority at 49 CFR 1.50 and 501.8).

Issued on: January 31, 1997.

L. Robert Shelton,

Associate Administrator for Safety

Performance Standards.

[FR Doc. 97–3041 Filed 2–6–97; 8:45 am]

BILLING CODE 4910–59–P

Surface Transportation Board

Agency Form Submitted for OMB

Review

AGENCY: Surface Transportation Board,

Office of Economic and Environmental

Analysis and Administration.

SUMMARY: The Surface Transportation

Board has submitted to the Office of

Management and Budget for review and

approval the following proposal for

collection of information under the

provisions of the Paperwork Reduction

Act of 1995 (44 U.S.C. Chapter 35).

Type of Request: Reinstatement of an

expired form without any change in the

substance or in the method of

collection.

Title of Form: Annual Report.

OMB Form Number: 2140–0029.

Agency Form Number: R–1.

No. of Respondents: 10.

Total Burden Hours: 8,000.

FOR FURTHER INFORMATION CONTACT:

Requests for copies of the form and

supporting documents may be obtained

from the Agency Clearance Officer,

Ellen R. Keys, (202) 927–5673.

Comments regarding this information

collection should be addressed to Ward

L. Ginn, Jr., Office of Economic and

Environmental Analysis and

Administration Surface Transportation

Board, Washington, DC. 20423–0001

and to the Office of Management and

Budget, Office of Information and

Regulatory Affairs, Attn: Desk Officer

for the Surface Transportation Board,

Washington, DC 20503. When

submitting comments, refer to the OMB

number and the title of the Form.

SUPPLEMENTARY INFORMATION: The

Surface Transportation Board is, by

statute, responsible for the economic

regulation of surface transportation

carriers operating in interstate and

foreign commerce. Annual reports are

required to be filed by all Class I

railroads pursuant to authority in 49

U.S.C. 11145, 11144 and 11901 of the

ICC Termination Act (ICCTA). This

information collection was approved

June 13, 1985 and extended to March

31, 1996.

Decided: January 31, 1997.

Vernon A. Williams,

Secretary.

[FR Doc. 97–3107 Filed 2–6–97; 8:45 am]

BILLING CODE 4915–00–P

[STB Docket No. AB–290 (Sub–No. 183X)]

Norfolk Southern Railway Company—

Abandonment Exemption—in

Greenwood and Newberry Counties,

SC

AGENCY: Surface Transportation Board,

Transportation.

ACTION: Notice of exemption.

SUMMARY: The Board, pursuant to 49

U.S.C. 10502, exempts Norfolk Southern

Railway Company (NS) from the prior

approval requirements of 49 U.S.C.

10903 to permit NS to abandon a 13-

mile line of railroad between milepost

V–58.0, at Conrad, and milepost V–71.0,

at Brickdale, in Greenwood and

Newberry Counties, SC, subject to an

environmental condition and standard

employee protective conditions.

DATES: Provided no formal expression of

intent to file an offer of financial

assistance (OFA) has been received, this

exemption will be effective on March 9,

1997. Formal expressions of intent to

file an OFA under 49 CFR

1152.27(c)(2) 1 and requests for issuance

of a notice of interim trail use/rail

banking under 49 CFR 1152.29 must be

filed by February 18, 1997, petitions to

stay must be filed by February 24, 1997,

requests for a public use condition

conforming to 49 CFR 1152.28(a)(2)

must be filed by February 27, 1997, and

petitions to reopen must be filed by

March 4, 1997.

ADDRESSES: Send pleadings, referring to

STB Docket No. AB–290 (Sub-No. 183X)

to: (1) Surface Transportation Board,

Office of the Secretary, Case Control

Branch, 1201 Constitution Avenue,

NW., Washington, DC 20423; and (2)

James R. Paschall, Three Commercial

Place, Norfolk, VA 23510–2191.

FOR FURTHER INFORMATION CONTACT:

Beryl Gordon, (202) 927–5660. [TDD for

the hearing impaired: (202) 927–5721.]

SUPPLEMENTARY INFORMATION:

Additional information is contained in

the Board’s decision. To purchase a

copy of the full decision, write to, call,

or pick up in person from: DC Data &

News, Inc., Room 2229, 1201

Constitution Avenue, NW., Washington,

DC 20423. Telephone: (202) 289–4357/

4359. [Assistance for the hearing

impaired is available through TDD

services (202) 927–5721.]

Decided: January 30, 1997.
5882 Federal Register / Vol. 62, No. 26 / Friday, February 7, 1997 / Notices

By the Board, Chairman Morgan and Vice

Chairman Owen.

Vernon A. Williams,

Secretary.

[FR Doc. 97–3106 Filed 2–6–97; 8:45 am]

BILLING CODE 4915–00–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

[FI–54–93]

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–54–93 (TD 8554), Clear

Reflection of Income in the Case of

Hedging Transactions (§ 1.146–4(d)).

DATES: Written comments should be

received on or before April 8, 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: Clear Reflection of Income in

the Case of Hedging Transactions.

OMB Number: 1545–1412.

Regulation Project Number: FI–54–93.

Abstract: This regulation provides

guidance to taxpayers regarding when

gain or loss from common business

hedging transactions is recognized for

tax purposes and requires that the books

and records maintained by a taxpayer

disclose the method or methods used to

account for different types of hedging

transactions.

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:

110,000.

Estimated Time Per Respondent: 12

minutes.

Estimated Total Annual Burden

Hours: 22,000.

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: February 3, 1997.

Garrick R. Shear,

IRS Reports Clearance Officer.

[FR Doc. 97–3126 Filed 2–6–97; 8:45 am]

BILLING CODE 4830–01–U