Federal Register / Vol. 80, No. 89 / Friday, May 8, 2015 / Proposed Rules 26499 

Issued in Seattle, Washington, on April 27, 

2015. 

Christopher Ramirez, 

Acting Manager, Operations Support Group, 

Western Service Center, AJV–W2. 

[FR Doc. 2015–10499 Filed 5–7–15; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF COMMERCE 

Office of the Secretary 

15 CFR Part 4 

[Docket No. 150324296–5296–01] 

RIN 0605–AA38 

Public Information, Freedom of 

Information Act and Privacy Act 

Regulations 

AGENCY: Department of Commerce. 

ACTION: Notice of proposed rulemaking. 

SUMMARY: This rule proposes revisions 

to the Department of Commerce’s 

(Department) regulations under the 

Privacy Act. The Privacy Act regulations 

are being updated to make technical 

changes to the applicable exemptions. 

DATES: To be considered, written 

comments must be submitted on or 

before June 8, 2015. 

Unless comments are received, the 

amended system of records will become 

effective as proposed on the date of 

publication of a subsequent notice in 

the Federal Register. 

ADDRESSES: You may submit comments, 

identified by Regulatory Information 

Number (RIN) 0605–AA38, by any of the 

following methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

• Fax: (202) 482–0827. Include the 

RIN 0605–AA38 in the subject line. 

• Mail: Ms. Brenda Dolan, 

Departmental Freedom of Information & 

Privacy Act Officer, Office of Privacy 

and Open Government, U.S. Department 

of Commerce, 1401 Constitution Avenue 

NW., Suite A300, Room A326, 

Washington, DC 20230. 

Instructions: All submissions received 

must include the agency name and 

docket number or RIN for this 

rulemaking. All comments received will 

be posted without change to 

regulations.gov, including any personal 

information provided. For detailed 

instructions on submitting comments 

and additional information on the 

rulemaking process, see the ‘‘Public 

Participation’’ heading of the 

SUPPLEMENTARY INFORMATION section of 

this document. 

FOR FURTHER INFORMATION CONTACT: Ms. 

Brenda Dolan, Departmental Freedom of 

Information & Privacy Act Officer, 

Office of Privacy and Open Government, 

U.S. Department of Commerce, 202– 

482–3258. 

SUPPLEMENTARY INFORMATION: 

Public Participation: Comments sent 

by any other method, to any other 

address or individual, or received after 

the end of the comment period, may not 

be considered by the Department. If you 

want to submit personal identifying 

information (such as your name, 

address, etc.) as part of your comment, 

but do not want it to be posted online, 

you must include the phrase 

‘‘PERSONAL IDENTIFYING 

INFORMATION’’ in the first paragraph 

of your comment. You must also locate 

all the personal identifying information 

you do not want posted online in the 

first paragraph of your comment and 

identify what information you want 

redacted. If you want to submit 

confidential business information as 

part of your comment but do not want 

it to be posted online, you must include 

the phrase ‘‘CONFIDENTIAL BUSINESS 

INFORMATION’’ in the first paragraph 

of your comment. You must also 

prominently identify confidential 

business information to be redacted 

within the comment. If a comment has 

so much confidential business 

information that it cannot be effectively 

redacted, all or part of the comment may 

not be posted on http://

www.regulations.gov. 

Personal identifying information and 

confidential business information 

identified and located as set forth above 

will be placed in the agency’s public 

docket file, but not posted online. If you 

wish to inspect the agency’s public 

docket file in person by appointment, 

please see the FOR FURTHER INFORMATION

CONTACT paragraph. 

This rule proposes revisions to the 

Department’s regulations under the 

Privacy Act. In particular, the action 

will amend the Department’s Privacy 

Act regulations regarding applicable 

exemptions to reflect new Department 

wide systems of records notices 

published since the last time the 

regulations were updated. The revisions 

of the Privacy Act regulations in subpart 

B of part 4 incorporate changes to the 

language of the regulations in the 

following provisions: § 4.33 (General 

exemptions); and § 4.34 (Specific 

exemptions). 

Dated: April 28, 2015. 

Catrina D. Purvis, 

Chief Privacy Officer and Director for Open 

Government. 

For the reasons stated in the 

preamble, the Department of Commerce 

proposes to amend 15 CFR part 4 as 

follows: 

PART 4—[AMENDED] 

■ 1. The authority citation for part 4 

continues to read as follows: 

Authority: 5 U.S.C. 301; 5 U.S.C. 552; 5 

U.S.C. 553; 31 U.S.C. 3717; 41 U.S.C. 3101; 

Reorganization Plan No. 5 of 1950. 

■ 2. Amend § 4.33 by adding paragraph 

(b)(4) to read as follows; 

§ 4.33 General exemptions. 

* * * * * 

(4) Access Control and Identity 

Management System—COMMERCE/

DEPT–25. Pursuant to 5 U.S.C. 

552a(j)(2), these records are hereby 

determined to be exempt from all 

provisions of the Act, except 5 U.S.C. 

552a(b), (c)(1) and (2), (e)(4)(A) through 

(F), (e)(6), (7), (9), (10), and (11), and (i). 

These exemptions are necessary to 

ensure the proper functioning of the law 

enforcement activity, to protect 

confidential sources of information, to 

fulfill promises of confidentiality, to 

maintain the integrity of the law 

enforcement process, to avoid 

premature disclosure of the knowledge 

of criminal activity and the evidentiary 

bases of possible enforcement actions, to 

prevent interference with law 

enforcement proceedings, to avoid 

disclosure of investigative techniques, 

and to avoid endangering law 

enforcement personnel. 

■ 3. Amend § 4.34 by revising 

paragraphs (a)(1), paragraph (b) 

introductory text, paragraphs (b)(1). 

(b)(2)(i), (b)(2)(i)(C), (b)(2)(i)(F) and 

(b)(4)(i). 

§ 4.34 Specific exemptions. 

(a)(1) Certain systems of records 

under the Act that are maintained by the 

Department may occasionally contain 

material subject to 5 U.S.C. 552a(k)(1), 

relating to national defense and foreign 

policy materials. The systems of records 

published in the Federal Register by the 

Department that are within this 

exemption are: COMMERCE/BIS–1, 

COMMERCE/ITA–2, COMMERCE/ITA– 

3, COMMERCE/NOAA–5, COMMERCE– 

PAT–TM–4, COMMERCE/DEPT–12, 

COMMERCE/DEPT–13, COMMERCE/

DEPT–14, and COMMERCE/DEPT–25. 

* * * * * 

(b) The specific exemptions 

determined to be necessary and proper 


asabaliauskas on DSK5VPTVN1PROD with PROPOSALS
26500 Federal Register / Vol. 80, No. 89 / Friday, May 8, 2015 / Proposed Rules 

with respect to systems of records 

maintained by the Department, 

including the parts of each system to be 

exempted, the provisions of the Act 

from which they are exempted, and the 

justification for the exemption, are as 

follows: 

(1) Exempt under 5 U.S.C. 552a(k)(1). 

The systems of records exempt 

hereunder appear in paragraph (a) of 

this section. The claims for exemption 

of COMMERCE/DEPT–12, COMMERCE/ 

ITA–1, COMMERCE/NOAA–5, and 

COMMERCE/DEPT–25 under this 

paragraph are subject to the condition 

that the general exemption claimed in 

§ 4.33(b) is held to be invalid. 

* * * * * 

(2)(i) Exempt under 5 U.S.C. 

552a(k)(2). The systems of records 

exempt (some only conditionally), the 

sections of the Act from which 

exempted, and the reasons therefor are 

as follows: 

* * * * * 

(C) Fisheries Law Enforcement Case 

Files—COMMERCE/NOAA–5, but only 

on condition that the general exemption 

claimed in § 4.33(b)(2) is held to be 

invalid; 

* * * * * 

(F) Access Control and Identity 

Management System—COMMERCE/

DEPT–25, but only on condition that the 

general exemption claimed in 

§ 4.33(b)(4) is held to be invalid; 

* * * * * 

(4)(i) Exempt under 5 U.S.C. 

552a(k)(5). The systems of records 

exempt (some only conditionally), the 

sections of the Act from which 

exempted, and the reasons therefor are 

as follows: 

(A) Applications to U.S. Merchant 

Marine Academy (USMMA)— 

COMMERCE/MA–1; 

(B) USMMA Midshipman Medical 

Files—COMMERCE/MA–17; 

(C) USMMA Midshipman Personnel 

Files—COMMERCE/MA–18; 

(D) USMMA Non-Appropriated Fund 

Employees—COMMERCE/MA–19; 

(E) Applicants for the NOAA Corps— 

COMMERCE/NOAA–1; 

(F) Commissioned Officer Official 

Personnel Folders—COMMERCE/

NOAA–3; 

(G) Conflict of Interest Records, 

Appointed Officials—COMMERCE/

DEPT–3: 

(H) Investigative and Inspection 

Records—COMMERCE/DEPT–12, but 

only on condition that the general 

exemption claimed in § 4.33(b)(3) is 

held to be invalid; 

(I) Investigative Records— Persons 

within the Investigative Jurisdiction of 

the Department COMMERCE/DEPT–13; 

(J) Litigation, Claims, and 

Administrative Proceeding Records— 

COMMERCE/DEPT–14; and 

(K) Access Control and Identity 

Management System—COMMERCE/

DEPT–25, but only on condition that the 

general exemption claimed in 

§ 4.33(b)(4) is held to be invalid. 

* * * * * 

[FR Doc. 2015–10451 Filed 5–7–15; 8:45 am] 

BILLING CODE 3510–BX–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

26 CFR Part 1 

[REG–102656–15; REG–107548–11] 

RIN 1545–BM61; 1545–BK10 

Notional Principal Contracts; Swaps 

With Nonperiodic Payments 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Withdrawal of notice of 

proposed rulemaking; notice of 

proposed rulemaking by cross-reference 

to temporary regulations. 

SUMMARY: In the Rules and Regulations 

section of this issue of the Federal 

Register, the IRS is issuing final and 

temporary regulations that amend the 

treatment of nonperiodic payments 

made or received pursuant to certain 

notional principal contracts. These 

regulations provide that, subject to 

certain exceptions, a notional principal 

contract with a nonperiodic payment, 

regardless of whether it is significant, 

must be treated as two separate 

transactions consisting of one or more 

loans and an on-market, level payment 

swap. The regulations provide an 

exception from the definition of United 

States property. These regulations affect 

parties making and receiving payments 

under notional principal contracts, 

including United States shareholders of 

controlled foreign corporations and taxexempt organizations. The text of the 

temporary regulations also serves as the 

text of these proposed regulations. This 

document withdraws the notice of 

proposed rulemaking (REG–107548–11; 

RIN 1545–BK10) published in the 

Federal Register on May 11, 2012 (77 

FR 27669). 

DATES: Comments and requests for a 

public hearing must be received by 

August 6, 2015. 

ADDRESSES: Send submissions to 

CC:PA:LPD:PR (REG–102656–15), Room 

5203, Internal Revenue Service, P.O. 

Box 7604, Ben Franklin Station, 

Washington, DC 20044. Submissions 

may be hand-delivered Monday through 

Friday between the hours of 8 a.m. and 

4 p.m. to CC:PA:LPD:PR (REG–102656– 

15), Courier’s Desk, Internal Revenue 

Service, 1111 Constitution Avenue NW., 

Washington, DC 20224, or sent 

electronically via the Federal 

eRulemaking Portal at 

www.regulations.gov (IRS REG–102656– 

15). 

FOR FURTHER INFORMATION CONTACT: 

Concerning the proposed regulations 

under section 446, Alexa T. Dubert or 

Anna H. Kim at (202) 317–6895; 

concerning the proposed regulations 

under section 956, Kristine A. Crabtree 

at (202) 317–6934; concerning 

submissions of comments or to request 

a public hearing, Oluwafunmilayo 

Taylor, (202) 317–6901 (not toll-free 

numbers). 

SUPPLEMENTARY INFORMATION: 

Background and Explanation of 

Provisions 

On May 11, 2012, the Treasury 

Department and the IRS published 

temporary regulations under section 956 

(TD 9589) in the Federal Register (77 FR 

27612). On the same date, a notice of 

proposed rulemaking (REG–107548–11) 

by cross-reference to the temporary 

regulations was published in the 

Federal Register (77 FR 27669). This 

document withdraws those proposed 

regulations (REG–107548–11; RIN 1545– 

BK10) and provides new proposed 

regulations (REG–102656–15). 

Final and temporary regulations in 

the Rules and Regulations section of this 

issue of the Federal Register amend the 

Income Tax Regulations (26 CFR part 1). 

The final and temporary regulations 

amend the regulations under section 

446 of the Internal Revenue Code (Code) 

relating to the treatment of nonperiodic 

payments made or received pursuant to 

certain notional principal contracts for 

U.S. federal income tax purposes. The 

final and temporary regulations also 

amend the regulations under section 

956 of the Code regarding an exception 

from the definition of United States 

property. The text of the final and 

temporary regulations also serves as the 

text of these proposed regulations. The 

preamble to the final and temporary 

regulations explains those regulations 

and these proposed regulations. 

Special Analyses 

It has been determined that this notice 

of proposed rulemaking is not a 

significant regulatory action as defined 

in Executive Order 12866, as 

supplemented by Executive Order 

13653. Therefore, a regulatory 

assessment is not required. It also has 


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