### Federal Register/Vol. 74, No. 13/Thursday, January 22, 2009/Rules and Regulations

PART 240-GENERAL RULES AND REGULATIONS, SECURITIES EXCHANGE ACT OF 1934

114. The authority citation forPart 240 continues to read, inpart, as follows:

Authority: 15 U.S.C. 77c, 77d,77g, 77j, 77s, 77z-2, 77z-3, 77eee, 77ggg, 77nnn, 77sss, 77ttt, 78c, 78d,78e, 78f, 78g, 78i, 78j, 78j-1, 78k, 78k-1, 781,78m, 78n, 78o, 78p, 78q, 78s, 78u-5, 78w, 78x, 7811,78mm, 80a20,80a-23,80a-29,80a-37,80b-3,80b-4, 80b-11, and 7201 etseq.,and 18 U.S.C. 1350, unless otherwise noted.

* 5. Section 240.12a-10T is addedto read as follows: 

### §240.12a-10T Temporary exemption of eligiblecreditdefault swaps fromSection 12(a) ofthe Act.

(a)The provisions ofSection 12(a) of the Act (15 U.S.C. 781(a)) do not apply inrespect ofany eligible credit default swap, as defined inRule 239T ofthe Securities Act of 1933 (17 CFR 230.239T) issued or cleared by a clearing agency registered as a clearing
agency under Section 17A ofthe Act (15 U.S.C. 78q-1) or exempt from registration under Section 17A ofthe Act pursuant to arule, regulation, or order ofthe Commission, that will be purchased by or sold to an eligible contract participant (as defined in Section la(12) ofthe Commodity Exchange Act (7 U.S.C. la(12)) as in effect on the date ofadoption ofthis section, other than a person who is an eligible contract participant tnder Section 1(a)(12)(C) ofthe Commodity Exchange Act.

(b)This temporary rule will expire on September 25, 2009. * 6. Section 240.12h-1 is amendedby adding paragraph (h)Tto read as follows:
§240.12h-1 Exemptions from registration under section 12(g) ofthe Act.

(h)T any eligible credit default swap,
as defined in-Rule 239T ofthe Securities Act of 1933 (17 CFR 230.239T), issued

or cleared by a clearing agency registered as a clearing agency under Section 17A ofthe Act (15 U.S.C. 78q1) or exempt from registration under Section 17A ofthe Act pursuant to a rule, regulation, or order ofthe Commission that willbe purchased by

or sold to an eligible contract participant (as defined in Section la(12) ofthe Commodity Exchange Act (7 U.S.C. la(12)) as ineffect onthe date of adoption ofthis section, other than a person who is an eligible contract participantunder Section 1(a)(12)(C) of the Commodity Exchange Act. This temporary rule will expire on September 25, 2009.

PART 260--GENERAL RULES AND REGULATIONS, TRUST INDENTURE ACT OF 1939

N7.The authority citation forPart 260 continues to read as follows:

Authority: 15U.S.C. 77eee, 77ggg, 77nnn, 77sss, 7811(d), 80b-3, 80b-4, and 8ob-11. * 8. Section 260.4d-11T is added to read as follows: 

### §260.4d-1iT Temporary exemption for eligible creditdefault swaps offered and sold in reliance onSecurities Act of1933 Rule 239T (§230.239T).

Any eligible credit default swap (as defined inRule 239Tofthis chapter, 17 CFR 230.239T), whether or notissued under an indenture, is exempt from the Act ifoffered and sold in reliance on Rule 239Tofthis chapter. This temporary rule will expire on September 25, 2009.

By the Commission. Dated: January 14, 2009. Elizabeth M. Murphy, Secretary. [FR Doc.E9-1123 Filed 1-21-09; 8:45 am]

BILUNG CODE 8011-01-P

ENVIRONMENTAL PROTECTION

AGENCY

40 CFR Part 52
[EPA-R09-OAR-2008-0705; FRL-8748-7]
Approvaland Promulgation of Implementation Plans; Nevada; Vehicle Inspection and Maintenance Program

AGENCY: Environmental Protection Agency (EPA). ACTION: Final rule.

SUMMARY: Under the Clean Air Act, EPA is approving certain revisions, and disapproving certain other revisions, to the Nevada State Implementation Plan submitted by the Nevada Division of Environmental Protection. These revisions relate to the application ofthe State's vehicle inspection and maintenance program to vehicles operated on Federal installations. EPA is also correcting certain plan revisions related to this subject that EPA previously approved in error. The intended effect is to ensure that vehicles operated on Federal installations are subject only to those requirements ofthe State's vehicle inspection and maintenance program that apply in the

same manner and to the same extent to nongovernmental entities. DATES: Effective Date:This rule is effective on February 23, 2009. ADDRESSES: EPA has established docket number EPA-RO9-OAR-2008-0705 for this action. The index to the docket is available electronically at http:// www.regulations.govand in hard copy at EPA Region IX, 75 Hawthorne Street, San Francisco, California. While all documents in the docket are listed in the index, some information maybe publicly available only at the hard copy location (e.g., copyrighted material), and

some may notbe publicly available in either location (e.g., CBI). To inspect the hard copy materials, please schedule an appointment during normal business hours with the contact listed inthe FOR FURTHER INFORMATION CONTACT section. FOR FURTHER INFORMATION CONTACT: Eleanor Kaplan, Air Planning Office (AIR-2), U.S. Environmental Protection Agency, Region IX, (415) 947-4147, kaplan.eleanor@epa.gov. SUPPLEMENTARY INFORMATION: Throughout this document, "we", "us" and "our" refer to EPA.
Table ofContents
I.Proposed Action IH.

Public Comments III. EPA Action IV. Statutory andExecutive Order Reviews

I. Proposed Action

On September 25, 2008 (73 FR55466), under the Clean AirAct (CAA or "Act"), EPA proposed to approve certain revisions, and to disapprove certain other revisions, to the Nevada State Implementation Plan (SIP)submitted by the NevadaDivision ofEnvironmental Protection (NDEP). These revisions relate to the application ofthe State's vehicle inspection and maintenance (I/M) program to vehicles operated on Federal installations. EPA also proposed
to correct certain SIPrevisions related to this subject that EPA previously approved in error.

Specifically, EPA proposed to approve paragraphs (a), (b) and (c) of subsection (2) ofNevada Administrative Code (NAC) section 445B.595 ("Inspections ofvehicles owned by. State orpolitical subdivisions or operated on federal installations"). NDEP submitted NAC 445B.595 to EPA

on May 11, 2007. We proposed to approve these paragraphs ofNAC 445B.595(2) because they extend the

same vehicle I/Mtesting, standards, and certification requirements to motor vehicles operated on Federal installations as apply to nongovernmental entities, consistent with CAA section 118(a). See our September 25, 2008 proposed rule at 73 FR 55467. By the same token, we 

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proposed to disapprove paragraph (d)of NAC 445B.595(2) because it would establish an additional vehicle I/M requirement for motor vehicles operated

onFederal installations that do not apply to nongovernmental entities and thereby would exceed the limits on the waiver of sovereign immunity established in CAA section 118(a). See

our proposed rule at 73 FR 55468.

In our September 25, 2008 proposed rule, we also proposed to rescind our previous approval ofparagraph (d) of NAC 445B.595(2) and our previous approvals ofanother State vehicle I/M requirement, paragraph (d)ofNAC 445B.461(3). We approved both of these provisions in our 2004 approval ofthe State's vehicle I/M program in Las Vegas Valley and Boulder City, and we approved NAC 445B.461(3) again in our 2008 approval ofthe State's update to its mobile source SIP. See 69 FR 56351 (September 21, 2004) and 73 FR 38124 (July 3; 2008). We proposed these rescissions under the error correction authority provided to us under CAA section110(k)(6). As explained in our proposed rule at 73 FR 55468, we proposed to rescind our previous approvals ofNAC 445B.595(2)(d) and NAC 445B.461(3)(d) because these provisions establish certain additional requirements under the State's vehicle I/ M program for motor vehicles operated

on Federal installations that do not apply to nongovernmental entities and thus are inconsistent with the limits of sovereign immunity established in CAA section 118(a).

Our September 25, 2008proposed rule provides additionalbackground information and a more detailed rationale for our actions summarized above.

II. Public Comments

EPA's September 25, 2008 proposed rule provided a 30-day public comment period. No comments were submitted.

IH.EPA Action

As authorized under section 110(k) of the Clean Air Act, and for the reasons provided in summary fashion herein and in more detail in our proposed rule,

we are approving NDEP's submittal on May 11, 2007 ofparagraphs (a), (b), and (c) ofNAC 445B.595(2) as consistent with all applicable CAA requirements but disapproving paragraph (d) ofNAC 445B.595(2) as inconsistent with the limits on the waiver ofsovereign immunity established inCAA section 118(a). In addition, under CAA section 110(k)(6), we are rescinding our previous approvals ofNAC 445B.461(3)(d) and 445B.595(2)(d) since they would otherwise setforth additional requirements under the vehicle I/M program formotor vehicles operated on Federal installations that do
not apply to nongovernmental entities and thus wouldbe inconsistent with CAA section 118(a).

IV. StatutoryandExecutive Order Reviews

Under the Clean Air Act, the Administrator is required to approve a SIPsubmission that complies with the provisions ofthe Act and applicable Federal regulations. 42 U.S.C. 7410(k); 40 CFR 52.02(a). Thus, in reviewing SIP submissions, EPA's role is to approve state choices, provided that they meet the criteria ofthe Clean Air Act. Accordingly, this action merely
approves state law as meeting Federal requirements and does not impose additional requirements beyond those imposed by state law. Forthat reason, this action:

* Is not a "significant regulatory action" subject to review by the Office ofManagement and Budget under Executive Order 12866 (58 FR 51735, October 4, 1993);

* Does not impose an information collection burden under the provisions ofthe PaperworkReduction Act (44 U.S.C. 3501 etseq.);

* Is certified asnot havinga significant economic impact on a substantial number ofsmall entities under the Regulatory Flexibility Act (5 U.S.C. 601 etseq.);

* Does not contain any unfunded mandate or significantly or uniquely affect small governments, as described inthe Unfunded Mandates Reform Act of 1995 (Pub.L. 104-4);

• Does not have Federalism implications as specified in Executive Order 13132 (64 FR 43255, August 10, 1999);

* Is not an economically significant regulatory action based on health or safety risks subject to Executive Order 13045 (62 FR 19885, April 23, 1997);

e Is not a significantregulatory action subject to Executive Order 13211 (66FR 28355, May 22, 2001);

* Is notsubject to requirements of Section 12(d) ofthe National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272 note) because application ofthose requirements would beinconsistent with the Clean Air Act; and

* Does not provide EPA with the discretionary authority to address, as appropriate, disproportionate human health or environmental effects, using practicable and legally permissible methods, under Executive Order 12898 (59 FR 7629, February 16, 1994). In addition, thisrule does nothave tribal implications as specified by Executive Order 13175 (65 FR 67249, November 9, 2000), because the SIP is
not approved to apply in Indian country located in the state, and EPA notes that it will not impose substantial direct
costs ontribal governments or preempt tribal law.

The Congressional Review Act, 5 U.S.C. section 801 etseq., as addedby the Small Business Regulatory Enforcement Fairness Act of 1996, generally provides that before arule may take effect, the agency promulgating the rule must submit a rule report, which includes a copy of. the rule, to each House ofthe Congress and to the Comptroller General ofthe United States. EPA will submit a report containing thisrule and other required information to the U.S. Senate, the U.S. House of Representatives, and the Comptroller General ofthe United States priorto publication ofthe rule in the Federal Register. A major rule
cannot take effect until 60 days after it is published inthe Federal Register. This action is not a "major rule" as defined by 5U.S.C. section 804(2).

Under section 307(b)(1) ofthe Clean Air Act, petitions forjudicial review of this action mustbe filed in the United States Court ofAppeals forthe appropriate circuitby March23, 2009. Filing a petition forreconsideration by the Administrator ofthis final rule does
not affect the finality ofthisrule forthe purposes ofjudicial review, nor does it extend the time within which a petition forjudicial review maybe filed, and shall notpostpone the effectiveness of such rule or action. This action may not be challenged later in proceedings to enforce its requirements. (See section 307(b)(2).)
Listof Subjects in40 CFR Pat 52

Environmental protection, Air pollution control, Incorporation by reference, Intergovernmental relations, Reporting and recordkeeping requirements.

Dated: November 21, 2008. LauraYoshi, ActingRegional Administrator, RegionIX. 0 Part 52, chapter I,title40 ofthe Code ofFederal Regulations is amended as follows:

PART 52--[AMENDED]

1.

The authority citationforPart 52 continues to read as follows:

Authority:42 U.S.C. 7401 etseq. Subpart DD-Nevada

N2.Section 52.1470 is amendedby: 

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* a. Addingparagraph (c)(48)(i)(A)(2); * b.Addingparagraph (c)(71)(i)(A)(3); and 7 c. Adding paragraph (c)(71)(i)(A)(4) to read as follows:
§52.1470 Identificationof plan.

(c) * * * (48) * * * 

### (i) * * * (A) *** (2) Previously approved on September 21, 2004, in paragraph (c)(48)(i)(A)(1) of this section and now deleted from the SIP without replacement: Nevada Administrative Code (NAC) sections: 445B.461(3)(d) and 445B.595(2)(d).

(71)** * 

### (i)* * (A) *** (3)Previously approved on July 3, 2008, in paragraph (c)(71)(i)(A)(2) ofthis section and now deleted from the SIP without replacement: Nevada Administrative Code (NAC) section: 445B.461(3)(d).

(4) New oramended rules related to mobile sources, including Nevada's vehicle inspection and maintenance
program in Las Vegas Valley/Boulder City and Truckee Meadows: Nevada Administrative Code, chapter 445B (January 2007 revision by the Legislative Counsel Bureau), paragraphs (a), (b), and (c) ofsubsection (2) ofsection 445B.595, "Inspections ofvehicles ownedby State or political subdivisions

oroperated on federal installations."

[FR Doc. E9-903 Filed 1-21-09; 8:45 am]

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