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 for Part 240

continues to read, in part, 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 added to

read as follows:

§ 240.12a-10T Temporary exemption of

eligible credit default swaps from Section

12(a) of the Act.

(a) The provisions of Section 12(a) of

the Act (15 U.S.C. 781(a)) do not apply

in respect of any eligible credit default

swap, as defined in Rule 239T of the

Securities Act of 1933 (17 CFR

230.239T) issued or cleared by a

clearing agency registered as a clearing

agency under Section 17A of the Act (15

U.S.C. 78q-1) or exempt from

registration under Section 17A of the

Act pursuant to a rule, regulation, or

order of the Commission, that will be

purchased by or sold to an eligible

contract participant (as defined in

Section la(12) of the Commodity

Exchange Act (7 U.S.C. la(12)) as in

effect on the date of adoption of this

section, other than a person who is an eligible contract participant tnder

Section 1(a)(12)(C) of the Commodity

Exchange Act.

(b) This temporary rule will expire on

September 25, 2009.

* 6. Section 240.12h-1 is amended by

adding paragraph (h)T to read as

follows:

§240.12h-1 Exemptions from registration

under section 12(g) of the Act.

(h)T any eligible credit default swap,

as defined in-Rule 239T of the Securities

Act of 1933 (17 CFR 230.239T), issued

or cleared by a clearing agency

registered as a clearing agency under

Section 17A of the Act (15 U.S.C. 78q1) or exempt from registration under

Section 17A of the Act pursuant to a rule, regulation, or order of the

Commission that will be purchased by

or sold to an eligible contract

participant (as defined in Section la(12)

of the Commodity Exchange Act (7

U.S.C. la(12)) as in effect on the date of

adoption of this section, other than a

person who is an eligible contract

participant under 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

N 7. The authority citation for Part 260

continues to read as follows:

Authority: 15 U.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 credit default swaps offered and

sold in reliance on Securities Act of 1933

Rule 239T (§230.239T).

Any eligible credit default swap (as

defined in Rule 239T of this chapter, 17

CFR 230.239T), whether or not issued

under an indenture, is exempt from the

Act if offered and sold in reliance on

Rule 239T of this 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]

Approval and 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 of the

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 of the

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.gov and 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 may be

publicly available only at the hard copy

location (e.g., copyrighted material), and some may not be 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 in the 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 of Contents

I. Proposed Action

IH. Public Comments

III. EPA Action

IV. Statutory and Executive Order Reviews

I. Proposed Action

On September 25, 2008 (73 FR 55466),

under the Clean Air Act (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 Nevada Division of Environmental

Protection (NDEP). These revisions

relate to the application of the State's

vehicle inspection and maintenance

(I/M) program to vehicles operated on

Federal installations. EPA also proposed

to correct certain SIP revisions related to

this subject that EPA previously

approved in error. Specifically, EPA proposed to

approve paragraphs (a), (b) and (c) of

subsection (2) of Nevada Administrative

Code (NAC) section 445B.595

("Inspections of vehicles owned by.

State or political subdivisions or

operated on federal installations").

NDEP submitted NAC 445B.595 to EPA

on May 11, 2007. We proposed to

approve these paragraphs of NAC

445B.595(2) because they extend the

same vehicle I/M testing, 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

on Federal 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 of paragraph (d) of

NAC 445B.595(2) and our previous

approvals of another State vehicle I/M

requirement, paragraph (d) of NAC

445B.461(3). We approved both of these

provisions in our 2004 approval of the

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 of the 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 of NAC 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, 2008 proposed

rule provides additional background

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 of paragraphs (a), (b), and

(c) of NAC 445B.595(2) as consistent

with all applicable CAA requirements

but disapproving paragraph (d) of NAC

445B.595(2) as inconsistent with the

limits on the waiver of sovereign

immunity established in CAA section

118(a). In addition, under CAA section

110(k)(6), we are rescinding our

previous approvals of NAC

445B.461(3)(d) and 445B.595(2)(d) since

they would otherwise set forth

additional requirements under the

vehicle I/M program for motor vehicles

operated on Federal installations that do

not apply to nongovernmental entities

and thus would be inconsistent with

CAA section 118(a).

IV. Statutory and Executive Order

Reviews

Under the Clean Air Act, the

Administrator is required to approve a

SIP submission that complies with the

provisions of the 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 of the 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. For that reason,

this action:

* Is not a "significant regulatory

action" subject to review by the Office

of Management and Budget under

Executive Order 12866 (58 FR 51735,

October 4, 1993);

* Does not impose an information

collection burden under the provisions

of the Paperwork Reduction Act (44

U.S.C. 3501 et seq.);

* Is certified as not having a

significant economic impact on a

substantial number of small entities

under the Regulatory Flexibility Act (5

U.S.C. 601 et seq.);

* Does not contain any unfunded

mandate or significantly or uniquely

affect small governments, as described

in the 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 significant regulatory action

subject to Executive Order 13211 (66 FR

28355, May 22, 2001);

* Is not subject to requirements of

Section 12(d) of the National

Technology Transfer and Advancement

Act of 1995 (15 U.S.C. 272 note) because

application of those requirements would

be inconsistent 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, this rule does not have

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 on tribal governments or preempt

tribal law.

The Congressional Review Act, 5

U.S.C. section 801 et seq., as added by

the Small Business Regulatory

Enforcement Fairness Act of 1996,

generally provides that before a rule

may take effect, the agency

promulgating the rule must submit a

rule report, which includes a copy of.

the rule, to each House of the Congress

and to the Comptroller General of the

United States. EPA will submit a report

containing this rule and other required

information to the U.S. Senate, the U.S.

House of Representatives, and the

Comptroller General of the United

States prior to publication of the rule in

the Federal Register. A major rule

cannot take effect until 60 days after it

is published in the Federal Register.

This action is not a "major rule" as

defined by 5 U.S.C. section 804(2).

Under section 307(b)(1) of the Clean

Air Act, petitions for judicial review of

this action must be filed in the United

States Court of Appeals for the

appropriate circuit by March 23, 2009.

Filing a petition for reconsideration by

the Administrator of this final rule does

not affect the finality of this rule for the

purposes of judicial review, nor does it

extend the time within which a petition

for judicial review may be filed, and

shall not postpone 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).)

List of Subjects in 40 CFR Pat 52

Environmental protection, Air

pollution control, Incorporation by

reference, Intergovernmental relations,

Reporting and recordkeeping

requirements.

Dated: November 21, 2008.

Laura Yoshi,

Acting Regional Administrator, Region IX.

0 Part 52, chapter I, title 40 of the Code

of Federal Regulations is amended as

follows:

PART 52--[AMENDED]

1. The authority citation for Part 52

continues to read as follows:

Authority: 42 U.S.C. 7401 et seq.

Subpart DD-Nevada

N 2. Section 52.1470 is amended by:

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* a. Adding paragraph (c)(48)(i)(A)(2);

* b. Adding paragraph (c)(71)(i)(A)(3);

and

7 c. Adding paragraph (c)(71)(i)(A)(4) to

read as follows:

§ 52.1470 Identification of 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) of this

section and now deleted from the SIP

without replacement: Nevada

Administrative Code (NAC) section:

445B.461(3)(d).

(4) New or amended 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) of subsection (2) of section

445B.595, "Inspections of vehicles

owned by State or political subdivisions

or operated on federal installations."

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

BILLING CODE 6560-50-P

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