Federal Register / Vol. 63, No. 77 /Wednesday, April 22, 1998 / Proposed Rules 19873

§ 1.1374–8 Section 1374(d)(8) transactions.

* * * * *

(b) Separate determination of tax.

* * * If a C corporation elects to be

treated as an S corporation, and also

makes a QSSS election under section

1361(b)(3) (effective on the same date as

the S election) with respect to a

subsidiary, the assets held by the QSSS

at the time of the QSSS election will be

treated as assets held by the parent

when it became an S corporation. The

preceding sentence applies to QSSS

elections made after the date final

regulations are published in the Federal

Register.

* * * * *

Michael P. Dolan,

Deputy Commissioner of Internal Revenue.

[FR Doc. 98–10373 Filed 4–21–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

29 CFR Part 2550

Insurance Company General

Accounts; Notice of Hearing

AGENCY: Pension and Welfare Benefits

Administration, Labor.

ACTION: Proposed regulation; notice of

hearing.

SUMMARY: This document provides

notice of a public hearing regarding a

proposed regulation under section

401(c) of the Employee Retirement

Income Security Act of 1974 as

amended (ERISA) which clarifies the

application of ERISA to insurance

company general accounts. The

proposed regulation was set forth in a

notice of proposed rulemaking

published in the Federal Register at 62

FR 66908 on December 22, 1997.

DATES: The hearing will be held on

Monday, June 1, 1998, and Tuesday,

June 2, 1998, beginning at 9:30 a.m. and

ending at 5:00 p.m. E.S.T. on each day.

ADDRESSES: The hearing will be held in

Room C–5310 of the Department of

Labor Building, 200 Constitution

Avenue, N.W., Washington, D.C. 20210.

FOR FURTHER INFORMATION CONTACT:

Wendy McColough, Office of Exemption

Determinations, Pension and Welfare

Benefits Administration, U.S.

Department of Labor, Room N–5649,

200 Constitution Avenue, N.W.,

Washington, D.C. 20210, (202) 219–

8194. This is not a toll-free number.

SUPPLEMENTARY INFORMATION: On

December 22, 1997, the Department of

Labor (the Department) published a

notice of proposed rulemaking in the

Federal Register (62 FR 66908) which

clarifies the application of ERISA to

insurance company general accounts. In

that notice, the Department invited all

interested persons to submit written

comments concerning the proposed

regulation on or before March 23, 1998.

In view of the importance of the

proposed regulation, the Department

has decided to hold a hearing on the

proposed regulation on Monday, June 1,

1998, and Tuesday, June 2, 1998,

beginning at 9:30 a.m. and ending at

5:00 p.m. E.S.T. on each day, in Room

C–5310 of the Department of Labor

Building, 200 Constitution Avenue,

N.W., Washington D.C. 20210.

Any interested person who wishes to

be assured of an opportunity to present

oral comments at the hearing should

submit by 3:30 p.m. E.S.T. May 15,

1998: (1) a written request to be heard

and (2) an outline (preferably five

copies) of the topics to be discussed,

indicating the time allocated to each

topic. The request to be heard and

accompanying outline should be sent to

the Office of Exemption Determinations,

Pension and Welfare Benefits

Administration, U.S. Department of

Labor, Room N–5649, 200 Constitution

Avenue, N.W., Washington, D.C. 20210,

and marked ‘‘Attention: Insurance

Company General Accounts Hearing.’’

Individuals who did not file written

comments regarding the proposed

regulation may nonetheless submit a

request to make oral comments at the

hearing.

The Department will prepare an

agenda indicating the order of

presentation of oral comments. In the

absence of special circumstances, each

commentator will be allotted fifteen

minutes in which to complete his or her

presentation and answer questions that

may be posed by a panel of Pension and

Welfare Benefits Administration

employees and by the Department’s

consultant on this proposed regulation,

Dr. Dan McGill. Information about the

agenda may be obtained on or after May

21, 1998 by telephoning Wendy

McColough, Washington, D.C. (202)

219–8194 (not a toll free number).

Individuals not listed in the agenda will

be allowed to make oral comments at

the hearing to the extent time permits.

Those individuals who make oral

comments at the hearing should be

prepared to answer questions regarding

their comments. The hearing will be

transcribed.

Individuals with disabilities, who

need special accommodations, should

notify Wendy McColough on or before

May 21, 1998.

Notice of Public Hearing

Notice is hereby given that a public

hearing will be held on Monday, June 1,

1998, and Tuesday, June 2, 1998,

regarding a proposed regulation which

clarifies the application of ERISA to

insurance company general accounts.

The hearing will be held beginning at

9:30 a.m. E.S.T. on each day, in Room

C–5310 of the Department of Labor

Building, 200 Constitution Avenue,

N.W., Washington D.C. 20210.

Signed at Washington, D.C., this 16th day

of April, 1998.

Alan D. Lebowitz,

Deputy Assistant Secretary for Program

Operations, Pension and Welfare Benefits

Administration, Department of Labor.

[FR Doc. 98–10635 Filed 4–21–98; 8:45 am]

BILLING CODE 4510–29–P

DEPARTMENT OF LABOR

Mine Safety and Health Administration

30 CFR Part 75

Self-Rescue Devices; Use and

Location Requirements

AGENCY: Mine Safety and Health

Administration, (MSHA) Labor.

ACTION: Extension of comment period.

SUMMARY: Due to requests from the

mining community, MSHA is extending

the comment period on its draft policy

letter (PPL) relating to the approval

guidelines for storage plans for SelfContained Self-Rescue (SCSR) Devices

in underground coal mines.

DATES: Submit all comments on or

before May 29, 1998.

ADDRESSES: Comments may be

transmitted by electronic mail, fax or

mail. Comments by electronic mail must

be clearly identified as such and sent to

this e-mail address:

comments@msha.gov. Comments by fax

must be clearly identified as such and

sent to: Mine Safety and Health

Administration, Office of Standards,

Regulations and Variances, 703–235–

5551. Send mail comments to: Mine

Safety and Health Administration,

Office of Standards, Regulations and

Variances, Room 631, 4015 Wilson

Boulevard, Arlington, Virginia 22203–

1984. Interested persons are encouraged

to supplement written comments with

computer files or disks; please contact

the Agency with any questions about

format.

FOR FURTHER INFORMATION CONTACT:

Milton D. Conley, Division of Health,

Coal Mine Safety and Health, (703) 235–

1358.