18338 Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Proposed Rules 

§ 242.101 Activities by distribution 

participants. 

* * * * * 

(c) * * * 

(2) Certain nonconvertible and assetbacked securities. (i) The 

nonconvertible debt securities and 

nonconvertible preferred securities of 

issuers for which the probability of 

default, estimated as of the day of the 

determination of the offering pricing 

and over the horizon of 12 calendar 

months from such day, is less than 

0.055%, as determined and documented 

in writing by the distribution 

participant using a structural credit risk 

model; provided, however, that, for 

purposes of this paragraph, the term 

‘‘structural credit risk model’’ shall 

mean any commercially or publicly 

available model that calculates the 

probability that the value of the issuer 

may fall below a threshold based on an 

issuer’s balance sheet; or 

(ii) Asset-backed securities that are 

offered pursuant to an effective shelf 

registration statement filed on Form SF– 

3 (17 CFR 239.45). 

* * * * * 

§ 242.102 [Amended] 

■ 5. Amend § 242.102 by removing and 

reserving paragraph (d)(2). 

By the Commission. 

Dated: March 23, 2022. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2022–06583 Filed 3–29–22; 8:45 am] 

BILLING CODE 8011–01–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket Number USCG–2022–0190] 

RIN 1625–AA00 

Special Local Regulation, Sabine 

River, Orange, TX 

AGENCY: Coast Guard, Homeland 

Security (DHS). 

ACTION: Notice of proposed rulemaking. 

SUMMARY: The Coast Guard is proposing 

to establish a temporary safety zone for 

certain navigable waters of the Sabine 

River, extending the entire width of the 

river, adjacent to the public boat ramp 

located in Orange, TX. The special local 

regulation is necessary to protect 

persons and vessels from hazards 

associated with a high-speed boat race 

competition in Orange, TX. Entry of 

vessels or persons into this zone would 

be prohibited unless authorized by the 

Captain of the Port Marine Safety Unit 

Port Arthur or a designated 

representative. We invite your 

comments on this proposed rulemaking. 

DATES: Comments and related material 

must be received by the Coast Guard on 

or before April 29, 2022. 

ADDRESSES: You may submit comments 

identified by docket number USCG– 

2022–0190 using the Federal Decision 

Making Portal at https://

www.regulations.gov. See the ‘‘Public 

Participation and Request for 

Comments’’ portion of the 

SUPPLEMENTARY INFORMATION section for 

further instructions on submitting 

comments. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions about this proposed 

rulemaking, call or email Mr. Scott 

Whalen, Marine Safety Unit Port Arthur, 

U.S. Coast Guard; telephone 409–719– 

5086, email Scott.K.Whalen@uscg.mil. 

SUPPLEMENTARY INFORMATION: 

I. Table of Abbreviations 

CFR Code of Federal Regulations 

DHS Department of Homeland Security 

FR Federal Register 

NPRM Notice of proposed rulemaking 

§ Section 

U.S.C. United States Code 

II. Background, Purpose, and Legal 

Basis 

On March 9, 2022, the City of Orange, 

TX, notified the Coast Guard that it 

would be sponsoring high speed boat 

races from 9 a.m. to 6 p.m. on May 21 

and 22, 2022, adjacent to the public boat 

ramp in Orange, TX. The Captain of the 

Port Marine Safety Unit Port Arthur 

(COTP) has determined that potential 

hazards associated with high speed boat 

races would be a safety concern for 

spectator craft and vessels in the 

vicinity of these race events. 

The purpose of this rulemaking is to 

ensure the safety of vessels and the 

navigable waters of the Sabine River 

adjacent to the public boat ramp in 

Orange, TX, before, during, and after the 

scheduled event. The Coast Guard is 

proposing this rulemaking under 

authority in 46 U.S.C. 70034 (previously 

33 U.S.C. 1231). 

III. Discussion of Proposed Rule 

The COTP is proposing to establish a 

special local regulation from 8:30 a.m. 

on May 21, 2022, through 6 p.m. on May 

22, 2022. The safety zone would be 

enforced from 8:30 a.m. to 6 p.m. on 

both May 21st and May 22nd. The safety 

zone would cover all navigable waters 

of the Sabine River, extending the entire 

width of the river, adjacent to the public 

boat ramp located in Orange, TX, 

bounded to the north by the Orange 

Public Wharf and latitude 30°05′50′′ N 

and to the south at latitude 30°05′33′′ N. 

The duration of the safety zone is 

intended to protect participants, 

spectators, and other persons and 

vessels, in the navigable waters of the 

Sabine River during high-speed boat 

races and will include breaks and 

opportunity for vessels to transit 

through the regulated area. 

No vessel or person would be 

permitted to enter the safety zone 

without obtaining permission from the 

COTP or a designated representative. 

They may be contacted on VHF–FM 

channel 13 or 16, or by phone at 409– 

719–5070. 

The COTP or a designated 

representative may prohibit or control 

the movement of all vessels in the zone. 

When hailed or signaled by an official 

patrol vessel, a vessel shall come to an 

immediate stop and comply with the 

directions given. Failure to do so may 

result in expulsion from the area, 

citation for failure to comply, or both. 

The COTP or a designated 

representative may terminate the 

operation of any vessel at any time it is 

deemed necessary for the protection of 

life or property. The COTP or a 

designated representative may terminate 

enforcement of the special local 

regulation at the conclusion of the 

event. 

IV. Regulatory Analyses 

We developed this proposed rule after 

considering numerous statutes and 

Executive orders related to rulemaking. 

Below we summarize our analyses 

based on a number of these statutes and 

Executive orders, and we discuss First 

Amendment rights of protestors. 

A. Regulatory Planning and Review 

Executive Orders 12866 and 13563 

direct agencies to assess the costs and 

benefits of available regulatory 

alternatives and, if regulation is 

necessary, to select regulatory 

approaches that maximize net benefits. 

This NPRM has not been designated a 

‘‘significant regulatory action,’’ under 

Executive Order 12866. Accordingly, 

the NPRM has not been reviewed by the 

Office of Management and Budget 

(OMB). 

This regulatory action determination 

is based on the proposed size, location 

and duration of the rule. The safety zone 

would encompass a less than half-mile 

stretch of the Sabine River for eight 

hours on each of two days. The Coast 

Guard would notify the public by 

issuing Local Notice to Mariners (LNM), 


khammond on DSKJM1Z7X2PROD with PROPOSALS
Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Proposed Rules 18339 

and/or Marine Safety Information 

Bulletin (MSIB) and Broadcast Notice to 

Mariners via VHF–FM radio and the 

rule will allow vessels to seek 

permission to enter the zone during 

scheduled breaks. 

B. Impact on Small Entities 

The Regulatory Flexibility Act of 

1980, 5 U.S.C. 601–612, as amended, 

requires Federal agencies to consider 

the potential impact of regulations on 

small entities during rulemaking. The 

term ‘‘small entities’’ comprises small 

businesses, not-for-profit organizations 

that are independently owned and 

operated and are not dominant in their 

fields, and governmental jurisdictions 

with populations of less than 50,000. 

The Coast Guard certifies under 5 U.S.C. 

605(b) that this proposed rule would not 

have a significant economic impact on 

a substantial number of small entities. 

While some owners or operators of 

vessels intending to transit the 

temporary safety zone may be small 

entities, for the reasons stated in section 

IV.A above, this proposed rule would 

not have a significant economic impact 

on any vessel owner or operator. 

If you think that your business, 

organization, or governmental 

jurisdiction qualifies as a small entity 

and that this proposed rule would have 

a significant economic impact on it, 

please submit a comment (see 

ADDRESSES) explaining why you think it 

qualifies and how and to what degree 

this rule would economically affect it. 

Under section 213(a) of the Small 

Business Regulatory Enforcement 

Fairness Act of 1996 (Pub. L. 104–121), 

we want to assist small entities in 

understanding this proposed rule. If the 

proposed rule would affect your small 

business, organization, or governmental 

jurisdiction and you have questions 

concerning its provisions or options for 

compliance, please call or email the 

person listed in the FOR FURTHER

INFORMATION CONTACT section. The Coast 

Guard will not retaliate against small 

entities that question or complain about 

this proposed rule or any policy or 

action of the Coast Guard. 

C. Collection of Information 

This proposed rule would not call for 

a new collection of information under 

the Paperwork Reduction Act of 1995 

(44 U.S.C. 3501–3520). 

D. Federalism and Indian Tribal 

Governments 

A rule has implications for federalism 

under Executive Order 13132 

(Federalism), if it has a substantial 

direct effect on the States, on the 

relationship between the National 

Government and the States, or on the 

distribution of power and 

responsibilities among the various 

levels of government. We have analyzed 

this proposed rule under that order and 

have determined that it is consistent 

with the fundamental federalism 

principles and preemption requirements 

described in Executive Order 13132. 

Also, this proposed rule does not have 

tribal implications under Executive 

Order 13175 (Consultation and 

Coordination with Indian Tribal 

Governments) because it would not 

have a substantial direct effect on one or 

more Indian tribes, on the relationship 

between the Federal Government and 

Indian tribes, or on the distribution of 

power and responsibilities between the 

Federal Government and Indian tribes. 

If you believe this proposed rule has 

implications for federalism or Indian 

tribes, please call or email the person 

listed in the FOR FURTHER INFORMATION

CONTACT section. 

E. Unfunded Mandates Reform Act 

The Unfunded Mandates Reform Act 

of 1995 (2 U.S.C. 1531–1538) requires 

Federal agencies to assess the effects of 

their discretionary regulatory actions. In 

particular, the Act addresses actions 

that may result in the expenditure by a 

State, local, or tribal government, in the 

aggregate, or by the private sector of 

$100,000,000 (adjusted for inflation) or 

more in any one year. Though this 

proposed rule would not result in such 

an expenditure, we do discuss the 

potential effects of this proposed rule 

elsewhere in this preamble. 

F. Environment 

We have analyzed this proposed rule 

under Department of Homeland 

Security Directive 023–01, Rev. 1, 

associated implementing instructions, 

and Environmental Planning 

COMDTINST 5090.1 (series), which 

guide the Coast Guard in complying 

with the National Environmental Policy 

Act of 1969 (42 U.S.C. 4321–4370f), and 

have made a preliminary determination 

that this action is one of a category of 

actions that do not individually or 

cumulatively have a significant effect on 

the human environment. This proposed 

rule involves a safety zone that would 

last 8.5 hours on each of two days and 

that would prohibit entry on less than 

a half-mile stretch of the Sabine River in 

Orange, TX. Normally such actions are 

categorically excluded from further 

review under paragraph L60 of 

Appendix A, Table 1 of DHS Instruction 

Manual 023–01–001–01, Rev. 1. A 

preliminary Record of Environmental 

Consideration supporting this 

determination is available in the docket. 

For instructions on locating the docket, 

see the ADDRESSES section of this 

preamble. We seek any comments or 

information that may lead to the 

discovery of a significant environmental 

impact from this proposed rule. 

G. Protest Activities 

The Coast Guard respects the First 

Amendment rights of protesters. 

Protesters are asked to call or email the 

person listed in the FOR FURTHER

INFORMATION CONTACT section to 

coordinate protest activities so that your 

message can be received without 

jeopardizing the safety or security of 

people, places, or vessels. 

V. Public Participation and Request for 

Comments 

We view public participation as 

essential to effective rulemaking, and 

will consider all comments and material 

received during the comment period. 

Your comment can help shape the 

outcome of this rulemaking. If you 

submit a comment, please include the 

docket number for this rulemaking, 

indicate the specific section of this 

document to which each comment 

applies, and provide a reason for each 

suggestion or recommendation. 

Submitting comments. We encourage 

you to submit comments through the 

Federal Decision Making Portal at 

https://www.regulations.gov. To do so, 

go to https://www.regulations.gov, type 

USCG–2022–0190 in the search box and 

click ‘‘Search.’’ Next, look for this 

document in the Search Results column, 

and click on it. Then click on the 

Comment option. If you cannot submit 

your material by using https://

www.regulations.gov, call or email the 

person in the FOR FURTHER INFORMATION

CONTACT section of this proposed rule 

for alternate instructions. 

Viewing material in docket. To view 

documents mentioned in this proposed 

rule as being available in the docket, 

find the docket as described in the 

previous paragraph, and then select 

‘‘Supporting & Related Material’’ in the 

Document Type column. Public 

comments will also be placed in our 

online docket and can be viewed by 

following instructions on the https://

www.regulations.gov Frequently Asked 

Questions web page. We review all 

comments received, but we will only 

post comments that address the topic of 

the proposed rule. We may choose not 

to post off-topic, inappropriate, or 

duplicate comments that we receive. 

Personal information. We accept 

anonymous comments. Comments we 

post to https://www.regulations.gov will 

include any personal information you 

have provided. For more about privacy 


khammond on DSKJM1Z7X2PROD with PROPOSALS
18340 Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Proposed Rules 

and submissions to the docket in 

response to this document, see DHS’s 

eRulemaking System of Records notice 

(85 FR 14226, March 11, 2020). 

List of Subjects in 33 CFR Part 165 

Harbors, Marine safety, Navigation 

(water), Reporting and recordkeeping 

requirements, Security measures, 

Waterways. 

For the reasons discussed in the 

preamble, the Coast Guard is proposing 

to amend 33 CFR part 165 as follows: 

PART 165—REGULATED NAVIGATION 

AREA AND LIMITED ACCESS AREAS 

■ 1. The authority citation for part 165 

continues to read as follows: 

Authority: 46 U.S.C. 70034, 70051; 33 CFR 

1.05–1, 6.04–1, 6.04–6, and 160.5; 

Department of Homeland Security Delegation 

No. 00170.1, Revision No. 01.2. 

■ 2. Add § 165.T08–0190 to read as 

follows: 

§ 165.T08–0190 Safety Zone; Sabine River, 

Orange, Texas. 

(a) Location. The following area is a 

safety zone: all navigable waters of the 

Sabine River, extending the entire width 

of the river, adjacent to the public boat 

ramp located in Orange, TX, bounded to 

the north by the Orange Public Wharf 

and latitude 30°05′50′′ N and to the 

south at latitude 30°05′33′′ N. The 

duration of the safety zone is intended 

to protect participants, spectators, and 

other persons and vessels, in the 

navigable waters of the Sabine River 

during high-speed boat races and will 

include breaks and opportunity for 

vessels to transit through the regulated 

area. 

(b) Effective period. This section is 

effective from 9 a.m. on May 21, 2022, 

through 6 p.m. on May 22, 2022. 

(c) Enforcement periods. This section 

will be enforced from 9 a.m. through 6 

p.m. daily. 

(d) Regulations. (1) In accordance 

with the general regulations in § 165.23, 

entry of vessels or persons into this zone 

is prohibited unless authorized by the 

Captain of the Port Marine Safety Unit 

Port Arthur (COTP) or a designated 

representative. They may be contacted 

on VHF–FM channel 13 or 16, or by 

phone at by telephone at 409–719–5070. 

(2) The COTP or a designated 

representative may forbid and control 

the movement of all vessels in the 

regulated area. When hailed or signaled 

by an official patrol vessel, a vessel shall 

come to an immediate stop and comply 

with the directions given. Failure to do 

so may result in expulsion from the 

area, citation for failure to comply, or 

both. 

(3) The COTP or a designated 

representative may terminate the event 

or the operation of any vessel at any 

time it is deemed necessary for the 

protection of life or property. 

(4) The COTP or a designated 

representative will terminate 

enforcement of the special local 

regulations in this section at the 

conclusion of the event. 

(e) Informational broadcasts. The 

COTP or a designated representative 

will inform the public of the effective 

period for the safety zone as well as any 

changes in the dates and times of 

enforcement through Local Notice to 

Mariners (LNMs), Broadcast Notices to 

Mariners (BNMs), and/or Marine Safety 

Information Bulletins (MSIBs) as 

appropriate. 

Dated: March 23, 2022. 

Molly A. Wike, 

Captain, U.S. Coast Guard, Captain of the 

Port, Marine Safety Zone Port Arthur. 

[FR Doc. 2022–06671 Filed 3–29–22; 8:45 am] 

BILLING CODE 9110–04–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 165 

[Docket Number USCG–2022–0200] 

RIN 1625–AA00 

Safety Zone; Hydroplane and Raceboat 

Museum Test Area, Lake Washington, 

WA 

AGENCY: Coast Guard, Homeland 

Security (DHS). 

ACTION: Notice of proposed rulemaking. 

SUMMARY: The Coast Guard is proposing 

to establish a temporary safety zone for 

all navigable waters within a 4,000-yard 

oval radius off the Stan Sayres Memorial 

Hydroplane Pits downward to the 

Adams Street Boat Ramp on Lake 

Washington. The safety zone is needed 

to protect personnel, vessels, and the 

marine environment from potential 

hazards in the vicinity of the Stan 

Sayres Memorial Park and Boat Launch 

and Adams Street Boat Ramp associated 

with test trials of a hydroplane race 

boat. This proposed rulemaking would 

prohibit persons and vessels from being 

in the safety zone unless specifically 

authorized by the Captain of the Port 

Sector Puget Sound or a designated 

representative. 

DATES: Comments and related material 

must be received by the Coast Guard on 

or before April 14, 2022. 

ADDRESSES: You may submit comments 

identified by docket number USCG– 

2022–0200 using the Federal Decision 

Making Portal at https://

www.regulations.gov. See the ‘‘Public 

Participation and Request for 

Comments’’ portion of the 

SUPPLEMENTARY INFORMATION section for 

further instructions on submitting 

comments. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions about this proposed 

rulemaking, call or email Mr. Rob 

Nakama, Sector Puget Sound Waterways 

Management Division, U.S. Coast 

Guard; telephone 206–217–6089, email 

SectorPugetSoundWWM@uscg.mil. 

SUPPLEMENTARY INFORMATION: 

I. Table of Abbreviations 

CFR Code of Federal Regulations 

DHS Department of Homeland Security 

FR Federal Register 

NPRM Notice of proposed rulemaking 

§ Section 

U.S.C. United States Code 

II. Background, Purpose, and Legal 

Basis 

On January 26, 2022, the Hydroplane 

and Raceboat Museum notified the 

Coast Guard that it will be conducting 

test trials of a high speed watercraft on 

Lake Washington from 10 a.m. until 2 

p.m. on May 24, 2022. Hazards 

associated with the test trial of a high 

speed watercraft include vessel 

collisions, unusual wake and accidental 

catastrophic human injury or death. The 

Captain of the Port Sector Puget Sound 

(COTP) has determined that potential 

hazards associated with the test trial 

would be a safety concern for anyone 

within a 4,000-yard oval radius of the 

planned test area. The purpose of this 

rulemaking is to ensure the safety of 

vessels and the navigable waters within 

a 4,000-yard radius of the test area 

before, during, and after the scheduled 

event. The Coast Guard is proposing this 

rulemaking under authority in 46 U.S.C. 

70034 (previously 33 U.S.C. 1231). 

III. Discussion of Proposed Rule 

The COTP is proposing to establish a 

safety zone from 10 a.m. until 2 p.m. on 

May 24, 2022. The safety zone would 

cover all navigable waters within a 

4,000-yard oval radius from position 

47°34′31′′ N, 122°16′34′′ W, thence to 

position 47°34′02′′ N, 122°15′44′′ W, 150 

yards offshore of the Stan Sayres 

Memorial Hydroplane Pits downward to 

150 yards off the Adams Street Boat 

Ramp which will be marked with buoys, 

located on Lake Washington. These 

coordinates are based on World 

Geodetic System (WGS 84). The 


khammond on DSKJM1Z7X2PROD with PROPOSALS