Federal Register / Vol. 63, No. 102 /Thursday, May 28, 1998 / Proposed Rules 29167

considered before taking action on the

proposed rule. The proposal contained

in this notice may be changed in light

of comments received. All comments

submitted will be available for

examination in the Rules Docket, FAA,

Great Lakes Region, Office of the

Assistant Chief Counsel, 2300 East

Devon Avenue, Des Plaines, Illinois,

both before and after the closing date for

comments. A report summarizing each

substantive public contact with FAA

personnel concerned with this

rulemaking will be filed in the docket.

Availability of NPRM’s

Any person may obtain a copy of this

Notice of Proposed Rulemaking (NPRM)

by submitting a request to the Federal

Aviation Administration, Office of

Public Affairs, Attention: Public Inquiry

Center, APA–230, 800 Independence

Avenue, S.W., Washington, DC 20591,

or by calling (202) 267–3484.

Communications must identify the

notice number of this NPRM. Persons

interested in being placed on a mailing

list for future NPRM’s should also

request a copy of Advisory Circular No.

11–2A, which describes the application

procedure.

The Proposal

The FAA is considering an

amendment to 14 CFR part 71 to modify

Class E airspace at Marshall, MN, to

accommodate aircraft executing the

proposed VOR Rwy 12, Amendment 7,

SIAP, at Marshall Municipal-Ryan Field

Airport, MN, by increasing the radius of

the existing controlled airspace.

Controlled airspace extending upward

from 700 to 1200 feet AGL is needed to

contain aircraft executing the approach.

The area would be depicted on

appropriate aeronautical charts. Class E

airspace designations for airspace areas

extending upward from 700 feet or more

above the surface of the earth are

published in paragraph 6005 of FAA

Order 7400.9E dated September 10,

1997, and effective September 16, 1997,

which is incorporated by reference in 14

CFR 71.1. The Class E airspace

designation listed in this document

would be published subsequently in the

Order.

The FAA has determined that this

proposed regulation only involves an

established body of technical

regulations for which frequent and

routine amendments are necessary to

keep them operationally current.

Therefore this, proposed regulation—(1)

is not a ‘‘significant regulatory action’’

under Executive Order 12866; (2) is not

a ‘‘significant rule’’ under DOT

Regulatory Policies and Procedures (44

FR 11034; February 26, 1979); and (3)

does not warrant preparation of a

Regulatory Evaluation as the anticipated

impact is so minimal. Since this is a

routine matter that will only affect air

traffic procedures and air navigation, it

is certified that this proposed rule will

not have a significant economic impact

on a substantial number of small entities

under the criteria of the Regulatory

Flexibility Act.

List of Subjects in 14 CFR Part 71

Airspace, Incorporation by reference,

Navigation (air).

The Proposed Amendment

Accordingly, pursuant to the

authority delegated to me, the Federal

Aviation Administration proposes to

amend 14 CFR part 71 as follows:

PART 71—DESIGNATION OF CLASS A,

CLASS B, CLASS C, CLASS D, AND

CLASS E AIRSPACE AREAS;

AIRWAYS; ROUTES; AND REPORTING

POINTS

1. The authority citation for part 71

continues to read as follows:

Authority: 49 U.S.C. 106(g), 40103, 40113,

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–

1963 Comp., p. 389.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of the Federal Aviation

Administration Order 7400.9E, Airspace

Designations and Reporting Points,

dated September 10, 1997, and effective

September 16, 1997, is amended as

follows:

Paragraph 6005 Class E airspace areas

extending upward from 700 feet or more

above the surface of the earth.

* * * * *

AGL MI E5 Marshall, MN [Revised]

Marshall Municipal-Ryan Field Airport, MN

(lat. 44°27′00′′ N., long. 95°49′20′′ W.)

That airspace extending upward from 700

feet above the surface within a 7.5-mile

radius of the Marshall Municipal-Ryan Field

Airport.

* * * * *

Issued in Des Plaines, Illinois on May 7,

1998.

Maureen Woods,

Manager, Air Traffic Division.

[FR Doc. 98–14173 Filed 5–27–98; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Airspace Docket No. 98–AGL–32]

Proposed Modification of Class E

Airspace; Prairie Du Chien, WI

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Notice of proposed rulemaking.

SUMMARY: This notice proposes to

modify Class E airspace Prairie Du

Chien, WI. A Global Positioning System

(GPS) Standard Instrument Approach

Procedure (SIAP) to Runway (Rwy) 29

has been developed for Prairie Du Chien

Municipal Airport. Controlled Airspace

extending upward from 700 to 1200 feet

above ground level (AGL) is needed to

contain aircraft executing the approach.

This action would increase the radius of

the existing controlled airspace for

Prairie Du Chien Municipal Airport.

DATES: Comments must be received on

or before July 7, 1998.

ADDRESSES: Send comments on the

proposal in triplicate to: Federal

Aviation Administration, Office of the

Assistant Chief Counsel, AGL–7, Rules

Docket No. 98–AGL–32, 2300 East

Devon Avenue, Des Plaines, Illinois

60018.

The official docket may be examined

in the Office of the Assistant Chief

Counsel, Federal Aviation

Administration, 2300 East Devon

Avenue, Des Plaines, Illinois. An

informal docket may also be examined

during normal business hours at the Air

Traffic Division, Airspace Branch,

Federal Aviation Administration, 2300

East Devon Avenue, Des Plaines,

Illinois.

FOR FURTHER INFORMATION CONTACT:

Michelle M. Behm, Air Traffic Division,

Airspace Branch, AGL–520, Federal

Aviation Administration, 2300 East

Devon Avenue, Des Plaines, Illinois

60018, telephone (847) 294–7568.

SUPPLEMENTARY INFORMATION:

Comments Invited

Interested parties are invited to

participate in this proposed rulemaking

by submitting such written data, views,

or arguments as they may desire.

Comments that provide the factual basis

supporting the views and suggestions

presented are particularly helpful in

developing reasoned regulatory

decisions on the proposal. Comments

are specifically invited on the overall

regulatory, aeronautical, economic,

environmental, and energy-related
29168 Federal Register / Vol. 63, No. 102 /Thursday, May 28, 1998 / Proposed Rules

aspects of the proposal.

Communications should identify the

airspace docket number and be

submitted in triplicate to the address

listed above. Commenters wishing the

FAA to acknowledge receipt of their

comments on this notice must submit

with those comments a self-addressed,

stamped postcard on which the

following statement is made:

‘‘Comments to Airspace Docket No. 98–

AGL–32.’’ The postcard will be date/

time stamped and returned to the

commenter. All communications

received on or before the specified

closing date for comments will be

considered before taking action on the

proposed rule. The proposal contained

in this notice may be changed in light

of comments received. All comments

submitted will be available for

examination in the Rules Docket, FAA,

Great Lakes Region, Office of the

Assistant Chief Counsel, 2300 East

Devon Avenue, Des Plaines, Illinois,

both before and after the closing date for

comments. A report summarizing each

substantive public contact with FAA

personnel concerned with this

rulemaking will be filed in the docket.

Availability of NPRM’s

Any person may obtain a copy of this

Notice of Proposed Rulemaking (NPRM)

by submitting a request to the Federal

Aviation Administration, Office of

Public Affairs, Attention: Public Inquiry

Center, APA–230, 800 Independence

Avenue, S.W., Washington, DC 20591,

or by calling (202) 267–3484.

Communications must identify the

notice number of this NPRM. Persons

interested in being placed on a mailing

list for future NPRM’s should also

request a copy of Advisory Circular No.

11–2A, which describes the application

procedure.

The Proposal

The FAA is considering an

amendment to 14 CFR part 71 to modify

Class E airspace at Prairie Du Chien, WI,

to accommodate aircraft executing the

proposed GPS Rwy 29 Prairie Du Chien

Municipal Airport by increasing the

radius of the existing controlled

airspace for the airport. Controlled

airspace extending upward from 700 to

1200 feet AGL is needed to contain

aircraft executing the approach. The

area would be defected on appropriate

aeronautical charts. Class E airspace

designations for airspace areas

extending upward from 700 feet or more

above the surface of the earth are

published in paragraph 6005 of FAA

Order 7400.9E dated September 10,

1997, and effective September 16, 1997,

which is incorporated by reference in 14

CFR 71.1 The Class E airspace

designation listed in this document

would be published subsequently in the

Order.

The FAA has determined that this

proposed regulation only involves an

established body of technical

regulations for which frequent and

routine amendments are necessary to

keep them operationally current.

Therefore this, proposed regulation—(1)

is not a ‘‘significant regulatory action’’

under Executive Order 12866; (2) is not

a ‘‘significant rule’’ under DOT

Regulatory Policies and Procedures (44

FR 11034; February 26, 1979); and (3)

does not warrant preparation of a

Regulatory Evaluation as the anticipated

impact is so minimal. Since this is a

routine matter that will only affect air

traffic procedures and air navigation, it

is certified that this proposed rule will

not have a significant economic impact

on a substantial number of small entities

under the criteria of the Regulatory

Flexibility Act.

List of Subjects in 14 CFR Part 71

Airspace, Incorporation by reference,

Navigation (air).

The Proposed Amendment

Accordingly, pursuant to the

authority delegated to me, the Federal

Aviation Administration proposes to

amend 14 CFR part 71 as follows:

PART 71—DESIGNATION OF CLASS A,

CLASS B, CLASS C, CLASS D, AND

CLASS E AIRSPACE AREAS;

AIRWAYS; ROUTES; AND REPORTING

POINTS

1. The authority citation for part 71

continues to read as follows:

Authority: 49 U.S.C. 106(g), 40103, 40113,

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–

1963 Comp., p. 389.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of the Federal Aviation

Administration Order 7400.9E, Airspace

Designations and Reporting Points,

dated September 10, 1997, and effective

September 16, 1997, is amended as

follows:

Paragraph 6005 Class E airspace areas

extending upward from 700 feet or more

above the surface of the earth.

* * * * *

AGL WI E5 Prairie Du Chien, WI [Revised]

Prairie Du Chien Municipal Airport, WI

(lat. 43° 01′ 49′′N, long. 91° 32′ 14′′W)

Waukon VORTAC

(lat. 43° 16′ 49′′N, long. 91° 32′ 14′′W)

That airspace extending upward from 700

feet above the surface within a 9.3-mile

radius of Prairie Du Chien Municipal Airport,

and within 3.9 miles each side of the 130°

radial of the Waukon VORTAC extending

from the 9.3-mile radius to 16.1 miles

southeast of the airport.

* * * * *

Issued in Des Plaines, Illinois on May 7,

1998.

Maureen Woods,

Manager, Air Traffic Division.

[FR Doc. 98–14174 Filed 5–27–98; 8:45 am]

BILLING CODE 4910–13–M

SECURITIES AND EXCHANGE

COMMISSION

17 CFR Part 230

[Release No. 33–7541; S7–14–98]

RIN 3235–AH35

Revision of Rule 504 of Regulation D,

the ‘‘Seed Capital’’ Exemption

AGENCY: Securities and Exchange

Commission.

ACTION: Proposed rules.

SUMMARY: Rule 504 of Regulation D

provides an exemption from Securities

Act registration when non-reporting

issuers make securities offerings that do

not exceed an aggregate annual amount

of $1 million. These offerings are not

reviewed by the Commission. Instead,

state securities regulation plays an

important role in the oversight of these

transactions. Securities sold under Rule

504 are generally freely tradable except

by affiliates. Based on recent reports

from the Commission’s examination and

enforcement programs, it appears that

the freely tradable nature of these

securities may have facilitated some

later fraudulent secondary transactions

in the over-the-counter markets for

securities of ‘‘microcap’’ companies. In

light of this use, Rule 504 may need to

be strengthened. Therefore, we are

publishing for comment proposed

amendments to eliminate the freely

tradable nature of securities issued

under Rule 504.

DATES: Comments should be received on

or before July 27, 1998.

ADDRESSES: Please send three copies of

the comment letter to Jonathan G. Katz,

Secretary, U.S. Securities and Exchange

Commission, Mail Stop 6–9, 450 Fifth

Street, N.W., Washington, D.C. 20549.

Comments also may be submitted

electronically to the following e-mail

address: rule-comments@sec.gov. All

comment letters should refer to File

Number S7–14–98; this file number

should be included on the subject line

if e-mail is used. Anyone can inspect

and copy the comment letters in our

public reference room at 450 Fifth