Federal Register / Vol. 79, No. 11 / Thursday, January 16, 2014 / Rules and Regulations 2775 

and small agricultural producers are 

defined as those having annual receipts 

of less than $750,000 (13 CFR 121.201). 

According to Committee data and 

information from the National 

Agricultural Statistical Service, the 

average price for Florida avocados 

during the 2011–12 season was 

approximately $20.79 per 55-pound 

bushel container and total shipments 

were slightly higher than 1.2 million 55- 

pound bushels. Using the average price 

and shipment information, the majority 

of avocado handlers could be 

considered small businesses under 

SBA’s definition. In addition, based on 

avocado production, producer prices, 

and the total number of Florida avocado 

producers, the average annual producer 

revenue is less than $750,000. 

Consequently, the majority of avocado 

handlers and producers may be 

classified as small entities. 

This rule increases the assessment 

rate for the 2013–14 and subsequent 

fiscal periods from the current rate of 

$0.25 to $0.30 per 55-pound bushel 

container of avocados. The Committee 

unanimously recommended the 

increased assessment rate, and 2013–14 

expenditures of $472,553. The increase 

was recommended to provide an 

additional $100,000 for research to 

address the Laurel Wilt fungus, which 

can infect and kill avocado trees. As 

previously stated, income from handler 

assessments and interest, and funds 

from reserves, should be adequate to 

meet this year’s expenses. 

Alternative expenditure and 

assessments levels were discussed prior 

to arriving at this budget. However, the 

Committee agreed on $472,553 in 

expenditures, reviewed the quantity of 

assessable avocados and available 

reserves, and recommended an 

assessment rate of $0.30 per 55-pound 

bushel container. 

This action increases the assessment 

obligation imposed on handlers. While 

assessments impose some additional 

costs on handlers, the costs are minimal 

and uniform on all handlers. Some of 

the additional costs may be passed on 

to producers. However, these costs are 

offset by the benefits derived by the 

operation of the marketing order. In 

addition, the Committee’s meeting was 

widely publicized throughout the 

Florida avocado industry and all 

interested persons were invited to 

attend the meeting and participate in 

Committee deliberations on all issues. 

Like all Committee meetings, the June 

12, 2013, meeting was a public meeting 

and all entities, both large and small, 

were able to express views on this issue. 

In accordance with the Paperwork 

Reduction Act of 1995, (44 U.S.C. 

Chapter 35), the order’s information 

collection requirements have been 

previously approved by the Office of 

Management and Budget (OMB) and 

assigned OMB No. 0581–0189 Generic 

OMB Fruit Crops. No changes in those 

requirements as a result of this action 

are necessary. Should any changes 

become necessary, they would be 

submitted to OMB for approval. 

This rule imposes no additional 

reporting or recordkeeping requirements 

on either small or large Florida avocado 

handlers. As with all Federal marketing 

order programs, reports and forms are 

periodically reviewed to reduce 

information requirements and 

duplication by industry and public 

sector agencies. As noted in the initial 

regulatory flexibility analysis, USDA 

has not identified any relevant Federal 

rules that duplicate, overlap, or conflict 

with this final rule. 

AMS is committed to complying with 

the E-Government Act, to promote the 

use of the internet and other 

information technologies to provide 

increased opportunities for citizen 

access to Government information and 

services, and for other purposes. 

A proposed rule concerning this 

action was published in the Federal 

Register on September 17, 2013 (78 FR 

57099). Copies of the proposed rule 

were also mailed or sent via facsimile to 

all Florida avocado handlers. Finally, 

the proposal was made available 

through the internet by USDA and the 

Office of the Federal Register. A 15-day 

comment period ending October 2, 

2013, was provided for interested 

persons to respond to the proposal. No 

comments were received. 

A small business guide on complying 

with fruit, vegetable, and specialty crop 

marketing agreements and orders may 

be viewed at: http://www.ams.usda.gov/ 

MarketingOrdersSmallBusinessGuide. 

Any questions about the compliance 

guide should be sent to Jeffrey Smutny 

at the previously mentioned address in 

the FOR FURTHER INFORMATION CONTACT

section. 

After consideration of all relevant 

material presented, including the 

information and recommendation 

submitted by the Committee and other 

available information, it is hereby found 

that this rule, as hereinafter set forth, 

will tend to effectuate the declared 

policy of the Act. 

Pursuant to 5 U.S.C. 553, it is also 

found and determined that good cause 

exists for not postponing the effective 

date of this rule until 30 days after 

publication in the Federal Register 

because handlers are already receiving 

avocadoes from the 2013–14 crop from 

growers, the fiscal period began on 

April 1, 2013, and the assessment rate 

applies to all Florida avocados received 

during the 2013–14 and subsequent 

seasons. Further, handlers are aware of 

this rule which was recommended at a 

public meeting. Also, a 15-day comment 

period was provided for in the proposed 

rule and no comments were received. 

List of Subjects in 7 CFR Part 915 

Avocados, Reporting and 

recordkeeping requirements. 

For the reasons set forth in the 

preamble, 7 CFR part 915 is amended as 

follows: 

PART 915—AVOCADOS GROWN IN 

SOUTH FLORIDA 

■ 1. The authority citation for 7 CFR 

part 915 continues to read as follows: 

Authority: 7 U.S.C. 601–674. 

■ 2. Section 915.235 is revised to read 

as follows: 

§ 915.235 Assessment rate. 

On and after April 1, 2013, an 

assessment rate of $0.30 per 55-pound 

container or equivalent is established 

for avocados grown in South Florida. 

Dated: January 10, 2014. 

Rex A. Barnes, 

Associate Administrator, Agricultural 

Marketing Service. 

[FR Doc. 2014–00753 Filed 1–15–14; 8:45 am] 

BILLING CODE 3410–02–P 

DEPARTMENT OF AGRICULTURE 

Agricultural Marketing Service 

7 CFR Part 930 

[Doc. No. AMS–FV–13–0030; FV13–930–2 

FIR] 

Tart Cherries Grown in the States of 

Michigan, New York, Pennsylvania, 

Oregon, Utah, Washington, and 

Wisconsin; Revising Handler 

Reporting and Grower Diversion 

Requirements 

AGENCY: Agricultural Marketing Service, 

USDA. 

ACTION: Affirmation of interim rule as 

final rule. 

SUMMARY: The Department of 

Agriculture (USDA) is adopting, as a 

final rule, without change, an interim 

rule that changed handler reporting and 

grower diversion requirements 

prescribed under the marketing order 

for tart cherries grown in the States of 

Michigan, New York, Pennsylvania, 

Oregon, Utah, Washington, and 

Wisconsin (order). The Cherry Industry 


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2776 Federal Register / Vol. 79, No. 11 / Thursday, January 16, 2014 / Rules and Regulations 

Administrative Board (Board) locally 

administers the order. The interim rule 

changed the deadline for submitting the 

handler reserve plan from November 1 

to October 1 and extended the deadline 

for redeeming or transferring grower 

diversion certificates from November 1 

to June 30 of a given crop year. These 

changes provide the industry with a 

more complete and timely picture of the 

available supply of tart cherries earlier 

in the season and give handlers more 

time and flexibility in meeting their 

obligations under volume regulation. 

DATES: Effective January 17, 2014. 

FOR FURTHER INFORMATION CONTACT: 

Jennie M. Varela, Marketing Specialist, 

or Christian D. Nissen, Regional 

Director, Southeast Marketing Field 

Office, Marketing Order and Agreement 

Division, Fruit and Vegetable Program, 

AMS, USDA; Telephone: (863) 324– 

3375, Fax: (863) 325–8793, or Email: 

Jennie.Varela@ams.usda.gov or 

Christian.Nissen@ams.usda.gov. 

Small businesses may obtain 

information on complying with this and 

other marketing order and agreement 

regulations by viewing a guide at the 

following Web site: http://

www.ams.usda.gov/

MarketingOrdersSmallBusinessGuide; 

or by contacting Jeffrey Smutny, 

Marketing Order and Agreement 

Division, Fruit and Vegetable Program, 

AMS, USDA; 1400 Independence 

Avenue SW., STOP 0237, Washington, 

DC 20250–0237; Telephone: (202) 720– 

2491, Fax: (202) 720–8938, or Email: 

Jeffrey.Smutny@ams.usda.gov. 

SUPPLEMENTARY INFORMATION: This rule 

is issued under Marketing Order and 

Agreement No. 930, as amended (7 CFR 

part 930), regulating the handling of tart 

cherries grown in the States of 

Michigan, New York, Pennsylvania, 

Oregon, Utah, Washington, and 

Wisconsin, hereinafter referred to as the 

‘‘order.’’ The order is effective under the 

Agricultural Marketing Agreement Act 

of 1937, as amended (7 U.S.C. 601–674), 

hereinafter referred to as the ‘‘Act.’’ 

USDA is issuing this rule in 

conformance with Executive Orders 

12866 and 13563. 

Prior to this change, handlers were 

required to submit a handler reserve 

plan and use grower diversion credits 

by November 1 of the crop year. A crop 

year is a 12-month period beginning on 

July 1 and ending on June 30 of the 

following year. The order was recently 

amended to exempt cherries diverted in 

the orchard (grower diversion) from 

inclusion in a handler’s total volume 

calculation. When a volume regulation 

is issued, handlers are obligated to keep 

a percentage of their total volume in 

reserve or account for the restricted 

volume with diversion certificates. 

These certificates can be earned through 

export sales, new market or new 

product sales, or through grower 

diversion. Before the amendment, the 

volume of cherries represented by a 

grower diversion certificate was added 

to the handler’s total volume. 

As the volume represented by 

diversion certificates is no longer part of 

the total volume calculation, handlers 

no longer need these certificates to 

complete the reserve plan. 

Consequently, the Board believes 

handlers will be able to complete the 

simplified reserve plan at an earlier date 

and recommended changing the date of 

submission from November 1 to October 

1 to provide the industry with a more 

complete and timely picture of the 

available supply of tart cherries. 

Further, with the amendment to the 

order, grower diversion certificates no 

longer need to be linked to when the 

handler reserve plan is due. To bring 

consistency to the use of all types of 

diversion certificates, the Board 

recommended allowing handlers to 

transfer and redeem grower diversion 

certificates through the end of the 

season, June 30. This change provides 

handlers with additional time and 

flexibility in meeting their restriction 

obligations. 

In addition to adjusting the deadline 

for submitting the handler reserve plan 

and extending the deadline for 

redeeming grower diversion certificates, 

this rule also makes a minor wording 

change to § 930.158 to facilitate the 

change in date. 

In an interim rule published in the 

Federal Register on August 1, 2013, and 

effective on August 2, 2013, (78 FR 

46494, Doc. No. AMS–FV–13–0030; 

FV13–930–2 IR), § 930.158 was 

amended by changing the date 

‘‘November 1’’ to ‘‘June 30.’’ Further, 

§ 930.159 was amended by changing 

‘‘November’’ to ‘‘October’’ in the first 

sentence and by revising the words 

‘‘certificates redeemed’’ to read 

‘‘certificates to be redeemed’’ in the 

fourth sentence. 

Final Regulatory Flexibility Analysis 

Pursuant to requirements set forth in 

the Regulatory Flexibility Act (RFA) (5 

U.S.C. 601–612), the Agricultural 

Marketing Service (AMS) has 

considered the economic impact of this 

action on small entities. Accordingly, 

AMS has prepared this final regulatory 

flexibility analysis. 

The purpose of the RFA is to fit 

regulatory actions to the scale of 

businesses subject to such actions in 

order that small businesses will not be 

unduly or disproportionately burdened. 

Marketing orders issued pursuant to the 

Act, and the rules issued thereunder, are 

unique in that they are brought about 

through group action of essentially 

small entities acting on their own 

behalf. 

There are approximately 600 tart 

cherry producers in the regulated area 

and approximately 40 tart cherry 

handlers who are subject to regulation 

under the order. Small agricultural 

producers are defined by the Small 

Business Administration (SBA) as those 

having annual receipts of less than 

$750,000 and small agricultural service 

firms have been defined as those having 

annual receipts of less than $7,000,000 

(13 CFR 121.201). 

According to data from the National 

Agricultural Statistics Service and the 

Board, the average annual grower price 

for tart cherries during the 2012–13 

season was $0.54 per pound, and total 

shipments were around 85 million 

pounds. Therefore, average receipts for 

tart cherry producers were around 

$76,200, well below the SBA threshold 

for small producers. In 2013, The Food 

Institute estimated an f.o.b. price of 

$0.84 per pound for frozen tart cherries, 

which make up the majority of 

processed tart cherries. Based on this 

information, average annual handler 

receipts were about $1.8 million, also 

below the SBA threshold for small 

agricultural service firms. Assuming a 

normal distribution, the majority of tart 

cherry producers and handlers may be 

classified as small entities. 

This rule continues in effect an 

interim rule that changed the deadline 

for submitting the handler reserve plan 

from November 1 to October 1 and 

extended the deadline for redeeming or 

transferring grower diversion certificates 

from November 1 to June 30 of a given 

crop year. These changes provide the 

industry with a more complete and 

timely picture of the available supply 

earlier in the season. In addition, the 

new deadline gives handlers more time 

and flexibility to meet their obligations 

under volume regulation. This rule 

amends the provisions of §§ 930.158 

and 930.159. Authority for the change in 

the order’s rules and regulations is 

provided in §§ 930.58 and 930.59. 

It is not anticipated that this rule will 

generate any additional costs for 

growers or handlers. This action is 

intended to adjust regulations to reflect 

recent amendments to the order and to 

allow the order to function more 

efficiently. These changes are expected 

to benefit the industry by providing a 

clear picture of available supply earlier 

in the season, and by allowing handlers 

more time to utilize grower diversion 


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Federal Register / Vol. 79, No. 11 / Thursday, January 16, 2014 / Rules and Regulations 2777 

1 15 U.S.C. 78o–4(a)(1). 

2Public Law 111–203, 124 Stat. 1376 (2010). 

3 15 U.S.C. 78o–4(a)(2). 

4See Registration of Municipal Advisors, Release 

No. 34–70462 (September 20, 2013), 78 FR 67467 

(November 12, 2013), available at http://

www.sec.gov/rules/final/2013/34-70462.pdf (the 

‘‘Adopting Release’’). 

certificates to meet their obligations 

under volume regulation. These changes 

should impact all entities positively, 

regardless of size. 

In accordance with the Paperwork 

Reduction Act of 1995, (44 U.S.C. 

Chapter 35), the order’s information 

collection requirements have been 

previously approved by the Office of 

Management and Budget (OMB) and 

assigned OMB No. 0581–0177, (Tart 

Cherries Grown in the States of 

Michigan, New York, Pennsylvania, 

Oregon, Utah, Washington, and 

Wisconsin). This rule required changes 

to Cherry Industry Administrative Board 

Form 4, ‘‘Handler Reserve Plan and 

Final Pack Report.’’ However, these 

changes are minor and the currently 

approved burden for the form remains 

the same. The revised form has been 

submitted to OMB for approval as part 

of the routine three-year renewal of all 

forms related to this order. 

This rule will not impose any 

additional reporting or recordkeeping 

requirements on either small or large 

tart cherry handlers. As with all Federal 

marketing order programs, reports and 

forms are periodically reviewed to 

reduce information requirements and 

duplication by industry and public 

sector agencies. In addition, USDA has 

not identified any relevant Federal rules 

that duplicate, overlap or conflict with 

this rule. 

Further, the Board’s meeting was 

widely publicized throughout the tart 

cherry industry and all interested 

persons were invited to attend 

videoconference meetings at regional 

locations or call in to participate in 

Board deliberations. Like all Board 

meetings, the March 21, 2013, meeting 

was a public meeting and all entities, 

both large and small, were able to 

express their views on this issue. 

Comments on the interim rule were 

required to be received on or before 

September 30, 2013. No comments were 

received. Therefore, for the reasons 

given in the interim rule, we are 

adopting the interim rule as a final rule, 

without change. 

To view the interim rule, go to: http:// 

www.regulations.gov/

#!documentDetail;D=AMS-FV-13-0030- 

0001. 

This action also affirms information 

contained in the interim rule concerning 

Executive Orders 12866, 12988, and 

13563, the Paperwork Reduction Act (44 

U.S.C. Chapter 35), and the E-Gov Act 

(44 U.S.C. 101). 

After consideration of all relevant 

material presented, it is found that 

finalizing the interim rule, without 

change, as published in the Federal 

Register (78 FR 46494, August 1, 2013) 

will tend to effectuate the declared 

policy of the Act. 

List of Subjects in 7 CFR Part 930 

Marketing agreements, Reporting and 

recordkeeping requirements, Tart 

cherries. 

PART 930—TART CHERRIES GROWN 

IN THE STATES OF MICHIGAN, NEW 

YORK, PENNSYLVANIA, OREGON, 

UTAH, WASHINGTON, AND 

WISCONSIN 

Accordingly, the interim rule that 

amended 7 CFR part 930 and was 

published at 78 FR 46494 on August 1, 

2013, is adopted as a final rule, without 

change. 

Dated: January 10, 2014. 

Rex A. Barnes, 

Associate Administrator, Agricultural 

Marketing Service. 

[FR Doc. 2014–00769 Filed 1–15–14; 8:45 am] 

BILLING CODE 3410–02–P 

SECURITIES AND EXCHANGE 

COMMISSION 

17 CFR Parts 240 and 249 

[Release No. 34–71288; File No. S7–45–10] 

RIN 3235–AK86 

Registration of Municipal Advisors; 

Temporary Stay of Final Rule 

AGENCY: Securities and Exchange 

Commission. 

ACTION: Final rule; stay. 

SUMMARY: The Securities and Exchange 

Commission (‘‘Commission’’) is staying 

temporarily Rules 15Ba1–1 through 

15Ba1–8 and Rule 15Bc4–1 (‘‘Rules’’) 

under the Securities Exchange Act of 

1934 and Forms MA, MA–I, MA–W, and 

MA–NR (‘‘Forms’’) until July 1, 2014 

and making conforming, nonsubstantive amendments to Rule 15Ba1– 

8 regarding recordkeeping requirements 

to conform the dates referenced in 

certain provisions of that rule to the July 

1, 2014 date (the ‘‘Amendment’’). The 

effective date for the Rules and Forms 

was January 13, 2014. This stay of the 

Rules and Forms means that persons are 

not required to comply with the Rules 

and Forms until July 1, 2014. The 

Amendment is the only action the 

Commission is taking in this release 

with respect to the Rules and Forms. 

Therefore, the phased-in compliance 

period that begins on July 1, 2014, for 

the requirement to use the Forms to 

register as municipal advisors under the 

Rules remains unchanged. 

DATES: Effective January 13, 2014, 17 

CFR 240.15Ba1–1 through 15Ba1–8 and 

240.15Bc4–1 and 17 CFR 249.1300, 

249.1310, 249.1320, and 249.1330 are 

stayed until July 1, 2014. 

FOR FURTHER INFORMATION CONTACT: John 

Cross, Director; Jessica Kane, Senior 

Special Counsel to the Director; Rebecca 

Olsen, Attorney Fellow; Mary Simpkins, 

Senior Special Counsel; Edward Fierro, 

Attorney-Adviser; or Cori Shepherd, 

Attorney-Adviser; Office of Municipal 

Securities, Securities and Exchange 

Commission, 100 F Street NE., 

Washington, DC 20549–7010. Contact 

phone number: (202) 551–5680 

SUPPLEMENTARY INFORMATION: 

I. Discussion 

Section 15B(a)(1) of the Exchange 

Act,1 as amended by Section 

975(a)(1)(B) of the Dodd-Frank Act,2

makes it unlawful for a municipal 

advisor to provide advice to or on behalf 

of a municipal entity or obligated 

person with respect to municipal 

financial products or the issuance of 

municipal securities, or to undertake a 

solicitation of a municipal entity or 

obligated person, unless the municipal 

advisor is registered with the 

Commission. Section 15B(a)(2) of the 

Exchange Act,3 as amended by Section 

975(a)(2) of the Dodd-Frank Act, 

provides that a municipal advisor may 

be registered by filing with the 

Commission an application for 

registration in such form and containing 

such information and documents 

concerning the municipal advisor and 

any person associated with the 

municipal advisor as the Commission 

by rule may prescribe as necessary or 

appropriate in the public interest or for 

the protection of investors. 

On September 20, 2013, the 

Commission issued Rules and Forms to 

provide for municipal advisor 

registration under a permanent 

registration regime.4 The effective date 

for the Rules and Forms was January 13, 

2014. The Commission provided a 

phased-in compliance period, beginning 

on July 1, 2014, for the requirement to 

use the Forms to register as municipal 

advisors under the Rules. Municipal 

advisors currently are subject to the 

statutory regime under Section 15B of 

the Exchange Act, which imposes on 

municipal advisors a fiduciary duty to 

municipal entities, and the temporary 

registration regime under which 

municipal advisors are required to 


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