2894 Federal Register / Vol. 63, No. 12 / Tuesday, January 20, 1998 / Rules and Regulations

personnel from the IRS and Treasury

Department participated in their

development.

List of Subjects

26 CFR Part 1

Income taxes, Reporting and

recordkeeping requirements.

26 CFR Part 602

Reporting and recordkeeping

requirements.

Adoption of Amendments to the

Regulations

Accordingly, 26 CFR parts 1 and 602

are amended as follows:

PART 1—INCOME TAXES

Paragraph 1. The authority citation

for part 1 continues to read in part as

follows:

Authority: 26 U.S.C. 7805 * * *

Par. 2. Section 1.468A–2 is amended

as follows:

1. The text of paragraph (f)(3)

following the heading is designated as

paragraph (f)(3)(i).

2. Paragraph (f)(3)(ii) is added.

The addition reads as follows:

§ 1.468A–2 Treatment of electing taxpayer.

* * * * *

(f) * * *

(3) * * *

(i) * * *

(ii) The requirement of this paragraph

(f)(3) does not apply if the taxpayer

determines its schedule of ruling

amounts under a formula or method

obtained under § 1.468A–3(a)(4) and the

cost of service amount is a variable

element of that formula or method.

* * * * *

Par. 3. Section 1.468A–3 is amended

as follows:

1. Paragraph (a)(4) is revised.

2. Paragraph (e)(5) is added.

3. Paragraphs (i)(1)(ii)(A),

(i)(1)(iii)(A)(3), and (i)(1)(iii)(B) are

revised.

4. Paragraph (i)(1)(iii)(C) is added.

The revisions and additions read as

follows:

§ 1.468A–3 Ruling amount.

(a) * * *

(4) The Internal Revenue Service will

approve, at the request of the taxpayer,

a formula or method for determining a

schedule of ruling amounts (rather than

a schedule specifying a dollar amount

for each taxable year) that is consistent

with the principles and provisions of

this section. See paragraph (i)(1)(ii) of

this section for a special rule relating to

the mandatory review of ruling amounts

that are determined pursuant to a

formula or method.

* * * * *

(e) * * *

(5) A formula or method obtained

under paragraph (a)(4) of this section

may provide for changes in an estimated

date described in paragraph (e)(1) or (2)

of this section to reflect changes in the

ratemaking assumptions used to

determine rates (whether interim or

final) that are established or approved

by the applicable public utility

commission after the filing of the

request for approval of a formula or

method.

* * * * *

(i) * * *

(1) * * *

(ii)(A) Any taxpayer that has obtained

a formula or method for determining a

schedule of ruling amounts for any

taxable year under paragraph (a)(4) of

this section must file a request for a

revised schedule on or before the earlier

of the deemed payment deadline for the

fifth taxable year that begins after its

taxable year in which the most recent

formula or method was approved or the

deemed payment deadline for the first

taxable year that begins after a taxable

year in which there is a substantial

variation in the ruling amount

determined under the most recent

formula or method. There is a

substantial variation in the ruling

amount determined under the formula

or method in effect for a taxable year if

the ruling amount for the year and the

ruling amount for any earlier year since

the most recent formula or method was

approved differ by more than 50 percent

of the smaller amount.

* * * * *

(iii) * * *

(A) * * *

(3) Reduces the amount of

decommissioning costs to be included

in cost of service for any taxable year;

(B) The taxpayer’s most recent request

for a schedule of ruling amounts did not

provide notice to the Internal Revenue

Service of such action by the public

utility commission; and

(C) In the case of a taxpayer that

determines its schedule of ruling

amounts under a formula or method

obtained under paragraph (a)(4) of this

section, the item increased, adjusted, or

reduced is a fixed (rather than a

variable) element of that formula or

method.

* * * * *

Par. 4. Section 1.468A–8 is amended

by adding paragraph (b)(12) to read as

follows:

§ 1.468A–8 Effective date and transitional

rules.

* * * * *

(b) * * *

(12) Use of formula or method.

Section 1.468A–2(f)(3)(ii) and § 1.468A–

3(a)(4) (to the extent it permits a formula

or method when the applicable public

utility commission estimates the cost of

decommissioning in future dollars),

(e)(5), (i)(1)(ii)(A) (to the extent it

requires the taxpayer to file a request for

a revised schedule because of a

substantial variation in ruling amounts),

and (i)(1)(iii)(C) apply only to requests

for a formula or method submitted on or

after January 20, 1998 and to formulas

and methods obtained in response to

those requests.

PART 602—OMB CONTROL NUMBERS

UNDER THE PAPERWORK

REDUCTION ACT

Par. 5. The authority citation for part

602 continues to read as follows:

Authority: 26 U.S.C. 7805.

Par. 6. In § 602.101(c), the entry for

1.468A–3 in the table is revised to read

as follows:

§ 602.101 OMB Control numbers.

* * * * *

(c) * * *

CFR part or section where

identified or described

Current

OMB control No.

* * * * *

1.468A–3 ................................... 1545–1269

1545–1378

1545–1511

* * * * *

Michael P. Dolan,

Deputy Commissioner of Internal Revenue.

Approved: January 9, 1998.

Donald C. Lubick,

Acting Assistant Secretary of the Treasury

(Tax Policy).

[FR Doc. 98–1177 Filed 1–16–98; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR Part 117

[CGD01–96–002]

RIN 2115–AE47

Drawbridge Operation Regulations:

Mystic River, MA

AGENCY: Coast Guard, DOT.
Federal Register / Vol. 63, No. 12 / Tuesday, January 20, 1998 / Rules and Regulations 2895

ACTION: Final rule.

SUMMARY: The Coast Guard is changing

the operating rules for the S99, Alford

Street Bridge, mile 1.4, over the Mystic

River in Boston, Massachusetts by

requiring an eight hour advance notice

for openings be provided during the

evenings in the winter months.

The Coast Guard has also removed the

regulations governing the draws of the

Boston and Maine Railroad Bridge, mile

1.8, and the General Lawrence Bridge,

mile 3.6, since both bridges have been

replaced with fixed bridges.

Additionally, the requirement to pass

public vessels as soon as possible has

been removed because it is not listed

under the general requirements for the

operation of bridges.

These changes are expected to

provide for the reasonable needs of

navigation and relieve the bridge owner

of the burden of unnecessarily crewing

the bridge at night during the winter

months as well as removing obsolete

regulatory language from the regulation.

DATES: This final rule is effective

February 19, 1998.

ADDRESSES: Documents as indicated in

this preamble are available for

inspection or copying at the First Coast

Guard District Office, 408 Atlantic

Avenue, Boston, Massachusetts, 02116,

7 a.m. to 3 p.m., Monday through

Friday, except Federal holidays.

FOR FURTHER INFORMATION CONTACT:

John McDonald, Project Officer, First

Coast Guard District, (617) 223–8364.

SUPPLEMENTARY INFORMATION:

Regulatory History

The Coast Guard published a notice of

proposed rulemaking entitled

Drawbridge Operation Regulations:

Mystic River, MA. in the Federal

Register (62 FR 3636; Jan. 24, 1997) to

evaluate changes to the operating rules.

The Coast Guard received no comments

in response to the notice of proposed

rulemaking. No public hearing was

requested and none was held.

Background and Purpose

The S99 Alford Street Bridge owned

by the City of Boston, has a vertical

clearance of 16 feet at mean low water

and 7 feet at mean high water. The

operating regulations listed under

§ 117.609(a) require that the S99 Alford

Street Bridge and the Boston and Maine

Railroad Bridge shall open on signal;

except that, from 7:45 a.m. to 9 a.m.,

9:10 a.m. to 10 a.m., and 5 p.m. to 6

p.m. except Sundays and holidays, the

draw need not be opened for the passage

of vessels with a draft of less than 18

feet. Additionally, § 117.609(b) states

that the Wellington and General

Lawrence Bridges need not be opened

for the passage of vessels.

The Coast Guard received a request

from the City of Boston, in November

1995, to change the operating rules for

the S99 Alford Street Bridge by

amending § 117.609(a) to require an

eight hour advance notice to the bridge

owner for bridge openings between 11

p.m. and 7 a.m. November 1 to March

31, yearly. The Coast Guard believes

that the operating hours for the S99

Alford Street Bridge should be changed

based upon the fact that the Mystic

River users that transit through the

bridge are recreational users and seldom

use the waterway during the winter

months at the time period requested.

The exemption in the existing rules

for vessels with a draft of eighteen feet

is removed as part of this final rule

because the commercial vessels to

which this provision once applied no

longer transit through the S99 Alford

Street Bridge.

The requirement that public vessels

be passed as soon as possible is

removed from § 117.609(a) since it is

now listed as a requirement under

§ 117.31 of the general operating

regulations for bridges.

This final rule also eliminates

references to the Boston and Maine

Bridge and the General Lawrence Bridge

which have been replaced by fixed

bridges.

Discussion of Comments and Changes

No comments were received in

response to the notice of proposed

rulemaking; therefore, no changes to the

final rule have been made.

Regulatory Evaluation

This final rule is not a significant

regulatory action under section 3(f) of

Executive Order 12866, and does not

require an assessment of potential costs

and benefits under section 6(a)(3) of that

order. This regulation has not been

reviewed by the Office of Management

and Budget under that order. This

regulation is not significant under the

regulatory policies and procedures of

the Department of Transportation (DOT)

(44 FR 11040; Feb. 26, 1979). The Coast

Guard expects the economic impact of

this final rule to be so minimal that a

full Regulatory Evaluation, under

paragraph 10e of the regulatory policies

and procedures of DOT is unnecessary.

This conclusion is based on the fact that

bridges must operate in accordance with

the reasonable needs of navigation

while providing for the reasonable

needs of land transportation. This final

rule adopts the operating hours which

the Coast Guard believes to be

appropriate since the recreational

boaters that use this waterway seldom

transit during night time in winter and,

thus, a requirement for the bridge

operator to be present during that time

period is unwarranted. The Coast Guard

believes this final rule achieves the

requirement of balancing the

navigational rights of recreational

boaters and the needs of land based

transportation.

Small Entities

Under the Regulatory Flexibility Act

(5 U.S.C. 601 et seq.), the Coast Guard

considered whether this final rule will

have a significant economic impact on

a substantial number of small entities.

‘‘Small entities’’ include small

businesses, not-for-profit organizations

that are independently owned and

operated and are not dominant in their

fields, and governmental jurisdictions

with populations less than 50,000.

Therefore, for the reasons discussed in

the Regulatory Evaluation section above,

the Coast Guard certifies under section

605(b) of the Regulatory Flexibility Act

that this final rule will not have a

significant economic impact on a

substantial number of small entities.

Collection of Information

This final rule does not provide for a

collection of information under the

Paperwork Reduction Act of 1995 (44

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

Federalism

The Coast Guard has analyzed this

final rule in accordance with the

principles and criteria contained in

Executive Order 12612 and has

determined that this final rule does not

have sufficient federalism implications

to warrant the preparation of a

Federalism Assessment.

Environment

The Coast Guard considered the

environmental impact of this final rule

and concluded that, under section

2.B.2.e.(34) of Commandant Instruction

M16475.1B, this final rule is

categorically excluded from further

environmental documentation. A

‘‘Categorical Exclusion Determination’’

is available in the docket for inspection

or copying where indicated under

ADDRESSES.

List of Subjects in 33 CFR Part 117

Bridges.

Regulations

For the reasons set out in the

preamble, the Coast Guard amends 33

CFR part 117 as follows:
2896 Federal Register / Vol. 63, No. 12 / Tuesday, January 20, 1998 / Rules and Regulations

PART 117—[AMENDED]

1. The authority citation for part 117

continues to read as follows:

Authority: 33 U.S.C. 499; 49 CFR 1.46; 33

CFR 1.05–1(g); section 117.255 also issued

under the authority of Pub. L. 102–587, 106

Stat. 5039.

2. Section 117.609 is revised to read

as follows:

§ 117.609 Mystic River.

(a) The draw of the S99 Alford Street

Bridge, mile 1.4, small open on signal;

except that Monday through Saturday

(excluding holidays) from 7:45 a.m. to 9

a.m., 9:10 a.m. to 10 a.m. and 5 p.m. to

6 p.m., the draw need not open for the

passage of vessels. From November 1

through March 31, between 11 p.m. and

7 a.m., at least an 8 hour advance notice

is required for bridge openings by

calling the number posted at the bridge.

(b) The draw of the Wellington

Bridge, mile 2.5, need not be opened for

vessels.

Dated: January 5, 1998.

R. M. Larrbee,

Rear Admiral, U.S. Coast Guard Commander,

First Coast Guard District.

[FR Doc. 98–1274 Filed 1–16–98; 8:45 am]

BILLING CODE 4910–14–M

ENVIRONMENTAL PROTECTION

AGENCY

40 CFR Part 272

[FRL–5948–1]

Hazardous Waste Management

Program: Incorporation by Reference

of Approved State Hazardous Waste

Program for Florida

AGENCY: Environmental Protection

Agency.

ACTION: Immediate final rule.

SUMMARY: Under the Resource

Conservation and Recovery Act of 1976,

as amended (RCRA), the United States

Environmental Protection Agency (EPA)

may grant Final Authorization to States

to operate their hazardous waste

management programs in lieu of the

Federal program. EPA uses Part 272 of

Title 40 Code of Federal Regulations

(CFR) to provide notice of the

authorization status of State programs,

and to incorporate by reference those

provisions of the State statutes and

regulations that EPA will enforce under

RCRA Sections 3008, 3013 and 7003.

Thus, EPA intends to codify Florida’s

authorized State program in 40 CFR Part

272. The purpose of this action is to

incorporate by reference EPA’s approval

of Florida’s base hazardous waste

program and its revisions to that

program.

DATES: This document will be effective

March 23, 1998 unless EPA publishes a

prior Federal Register (FR) action

withdrawing this immediate final rule.

All comments on this action must be

received by the close of business

February 19, 1998. The incorporation by

reference of certain Florida statutes and

regulations was approved by the

Director of the Federal Register as of

March 23, 1998 in accordance with 5

U.S.C. 552(a) and 1 CFR Part 51.

ADDRESSES: Written comments should

be sent to Narindar Kumar, RCRA

Programs Branch, Waste Division,

Environmental Protection Agency,

Atlanta Federal Center, 61 Forsyth

Street, Atlanta, Georgia 30303.

Telephone number is 404–562–8440.

FOR FURTHER INFORMATION CONTACT:

Narindar Kumar, RCRA Programs

Branch, Waste Division, Environmental

Protection Agency, Atlanta Federal

Center, 61 Forsyth Street, Atlanta,

Georgia 30303. Telephone number is

404–562–8440.

SUPPLEMENTARY INFORMATION:

Background

Section 3006 of RCRA 42 U.S.C. 6926

et seq., allows the EPA to authorize

State hazardous waste programs to

operate in the State in lieu of the

Federal hazardous waste program. The

purpose of today’s Federal Register

document is to incorporate by reference

EPA’s approval of Florida’s base

hazardous waste management program

and its twelve revisions to that program.

On January 29, 1985, EPA published

a Federal Register notice announcing its

decision to grant final authorization for

the RCRA base program to the State of

Florida (see 50 FR 3908). Effective

January 30, 1988 (52 FR 45634); October

30, 1988 (53 FR 34759); January 3, 1989

(53 FR 50529); February 12, 1991 (55 FR

51416); April 6, 1992 (57 FR 4370 and

57 FR 4371); April 7, 1992 (57 FR 4738);

July 20, 1992 (57 FR 21351); January 10,

1994 (58 FR 59367); September 9, 1994

(59 FR 35266); October 17, 1994 (59 FR

41979); December 27, 1994 (59 FR

53753); and June 2, 1997 (62 FR 15407),

EPA granted Florida additional

authorization.

On January 29, 1989, Florida

transferred Parts I, II, III, IV and V of

Chapter 17–30 F.A.C. to a new rule,

Chapter 17–730 F.A.C. The Chapter

entitled Hazardous Waste remained the

same.

EPA provides both notice of its

approval of State programs in 40 CFR

Part 272 and incorporates by reference

therein the State statutes and

regulations that EPA will enforce under

Sections 3008, 3013 and 7003 of RCRA.

This effort will provide clearer notice to

the public of the scope of the authorized

program in Florida. Such notice is

particularly important in light of the

Hazardous and Solid Waste Act

Amendments of 1984 (HSWA), Public

Law 98–616. Revisions to State

hazardous waste programs are necessary

when Federal statutory or regulatory

authority is modified. Because HSWA

extensively amended RCRA, State

programs must be modified to reflect

those amendments. By incorporating by

reference the authorized Florida

program and by amending the Code of

Federal Regulations whenever a new or

different set of requirements is

authorized in Florida, the status of

Federally approved requirements of the

Florida program will be readily

discernible.

The Agency will only enforce those

provisions of the Florida hazardous

waste management program for which

authorization approval has been granted

by EPA. This document incorporates by

reference provisions of State hazardous

waste statutes and regulations and

clarifies which of these provisions are

included in the authorized and

Federally enforceable program.

Concerning HSWA, some State

requirements may be similar to HSWA

requirements that are in effect under

Federal statutory authority in that State.

However, a State’s HSWA-type

requirements are not authorized and

will not be codified into the CFR until

the Regional Administrator publishes

his final decision to authorize the State

for specific HSWA requirements. Until

such time, EPA will enforce the HSWA

requirements and not the State

analogues.

Florida’s Authorized Hazardous Waste

Program

To incorporate by reference the

Florida authorized hazardous waste

program, EPA intends to add Subpart K

to 40 CFR Part 272. The State statutes

and regulations are incorporated by

reference at 40 CFR 272.501(b)(1) and

the Memorandum of Agreement, the

Attorney General’s Statement and the

Program Description are referenced at

40 CFR 271.501(b)(5), (b)(6) and (b)(7),

respectively.

The Agency retains the authority

under Sections 3007, 3008, 3013 and

7003 of RCRA to undertake enforcement

actions in authorized States. With

respect to such an enforcement action,

the Agency will rely on Federal

sanctions, Federal inspection

authorities, and the Federal