Federal Register / Vol. 63, No. 126 /Wednesday, July 1, 1998 /Rules and Regulations 35807

However, these standards are not

applicable to the actual language of

State regulatory programs and program

amendments since each such program is

drafted and promulgated by a specific

State, not by OSM. Under sections 503

and 505 of SMCRA (30 U.S.C. 1253 and

1255) and 30 CFR 730.11, 732.15, and

732.17(h)(10), decisions on proposed

State regulatory programs and program

amendments submitted by the States

must be based solely on a determination

of whether the submittal is consistent

with SMCRA and its implementing

Federal regulations and whether the

other requirements of 30 CFR Parts 730,

731, and 732 have been met.

National Environmental Policy Act

No environmental impact statement is

required for this rule since section

702(d) of SMCRA (30 U.S.C. 1292(d))

provides that agency decisions on

proposed State regulatory program

provisions do not constitute major

Federal actions within the meaning of

section 102(2)(C) of the National

Environmental Policy Act (42 U.S.C.

4332(2)(C)).

Paperwork Reduction Act

This rule does not contain

information collection requirements that

require approval by OMB under the

Paperwork Reduction Act (44 U.S.C.

3507 et seq.).

Regulatory Flexibility Act

The Department of the Interior has

determined that this rule will not have

a significant economic impact on a

substantial number of small entities

under the Regulatory Flexibility Act (5

U.S.C. 601 et seq.). The State submittal

which is the subject of this rule is based

upon corresponding Federal regulations

for which an economic analysis was

prepared and certification made that

such regulations would not have a

significant economic effect upon a

substantial number of small entities.

Accordingly, this rule will ensure that

existing requirements previously

promulgated by OSM will be

implemented by the State. In making the

determination as to whether this rule

would have a significant economic

impact, the Department relied upon the

data and assumptions for the

corresponding Federal regulations.

Unfunded Mandates

OSM has determined and certifies

pursuant to the Unfunded Mandates

Reform Act (2 U.S.C. 1502 et seq.) that

this rule will not impose a cost of $100

million or more in any given year on

local, state, or tribal governments or

private entities.

List of Subjects in 30 CFR Part 901

Intergovernmental relations, Surface

mining, Underground mining.

Dated: June 23, 1998.

Brent Wahlquist,

Regional Director, Mid-Continent Regional

Coordinating Center.

For the reasons set out in the

preamble, 30 CFR Part 901 is amended

as set forth below:

PART 901—ALABAMA

1. The authority citation for Part 901

continues to read as follows:

Authority: 30 U.S.C. 1201 et seq.

2. Section 901.15 is amended in the

table by adding a new entry in

chronological order by ‘‘Date of final

publication’’ to read as follows:

§ 901.15 Approval of Alabama regulatory

program amendments.

* * * * *

Original

amendment

submission

date

Date of final

publication

Citation/description

* * * * *

April 14, 1998 July 6, 1998 Code of Ala.

Sections

9–16–83(c)

and (h); 9–

16–91(e).

[FR Doc. 98–17526 Filed 6–30–98; 8:45 am]

BILLING CODE 4310–05–M

DEPARTMENT OF THE TREASURY

Fiscal Service

31 CFR Part 357

[Department of the Treasury Circular, Public

Debt Series, No. 2–86]

Regulations Governing Book-Entry

Treasury Bonds, Notes, and Bills;

Determination Regarding State

Statutes; Georgia, Florida and

Connecticut

AGENCY: Bureau of the Public Debt,

Fiscal Service, Treasury.

ACTION: Determination of substantially

identical state statutes.

SUMMARY: The Department of the

Treasury is announcing that it has

reviewed the statutes of Georgia, Florida

and Connecticut which have recently

enacted laws adopting Revised Article 8

of the Uniform Commercial Code—

Investment Securities (‘‘Revised Article

8’’) and determined that they are

substantially identical to the uniform

version of Revised Article 8 for

purposes of interpreting the rules in 31

CFR Part 357, Subpart B (the ‘‘TRADES’’

regulations). Therefore, that portion of

the TRADES rule requiring application

of Revised Article 8 if a state has not

adopted Revised Article 8 will no longer

be applicable for those 3 states.

EFFECTIVE DATE: July 1, 1998.

FOR FURTHER INFORMATION CONTACT:

Sandy Dyson, Attorney-Advisor (202)

219–3320, or Cynthia E. Reese, Deputy

Chief Counsel (202) 219–3320.

ADDRESSES: Copies of this notice are

available for downloading from the

Bureau of the Public Debt home page at:

http://www.publicdebt.treas.gov.

SUPPLEMENTARY INFORMATION: On August

23, 1996, The Department published a

final rule to govern securities held in

the commercial book-entry system, now

referred to as the Treasury/Reserve

Automated Debt Entry System

(‘‘TRADES’’), 61 FR 43626.

In the commentary to the final

regulations, Treasury stated that for the

28 states that had by then adopted

Revised Article 8, the versions enacted

were ‘‘substantially identical’’ to the

uniform version for purposes of the rule.

Therefore, for those states, that portion

of the TRADES rule requiring

application of Revised Article 8 was not

invoked. Treasury also indicated in the

commentary that as additional states

adopt Revised Article 8, notice would

be provided in the Federal Register as

to whether the enactments are

substantially identical to the uniform

version so that the federal application of

Revised Article 8 would no longer be in

effect for those states. Treasury adopted

this approach in an attempt to provide

certainty in application of the rule in

response to public comments. Notices

have subsequently been published

setting forth Treasury’s determination

concerning 16 additional states’

enactment of Revised Article. See (62

FR 26, January 2, 1997, 62 FR 34010,

June 18, 1997, 62 FR 61912, November

20, 1997 and 63 FR 20099, April 23,

1998). Including the three states

addressed herein this brings the number

of states that have enacted Revised

Article 8 and have been the subject of

such a notice to 47. Treasury

understands that several more states

will soon enact versions of Revised

Article 8. Treasury will review those

enactments as soon as they are available

and will issue notices of determination

with respect to them.

This notice addresses the recent

adoption of Article 8 by Georgia, Florida

and Connecticut.
35808 Federal Register / Vol. 63, No. 126 /Wednesday, July 1, 1998 /Rules and Regulations

Treasury has reviewed the three state

enactments and has concluded all of

them are substantially identical to the

uniform version of Revised Article 8.

We note that in 1997 Connecticut

adopted a version of Revised Article 8

upon which Treasury did not issue a

determination (see 62 FR 61913,

November 20, 1997).

That law was repealed and replaced

with the 1998 Connecticut adoption of

Revised Article 8, to which this notice

applies.

Accordingly, if either § 357.10(b) or

§ 357.11(b) directs a person to Georgia,

Florida and Connecticut, the provisions

of §§ 357.10(c) and 357.11(d) of the

TRADES rule are not applicable.

Dated: June 25, 1998.

Van Zeck,

Commissioner of the Public Debt.

[FR Doc. 98–17474 Filed 6–26–98; 5:03 pm]

BILLING CODE 4810–39–P

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

31 CFR Parts 501, 515 and 560

Cuban Assets Control Regulations;

Iranian Transactions Regulations;

Reporting and Procedures

Regulations: Corrections

AGENCY: Office of Foreign Assets

Control, Treasury.

ACTION: Correction to final regulations.

SUMMARY: This document contains

corrections to final regulations

amending the Cuban Assets Control

Regulations, published May 18, 1998

(63 FR 27349), the Iranian Transactions

Regulations, published on August 4,

1997 (62 FR 41851), and to the issuance

of the Reporting and Procedures

Regulations, published on August 25,

1997 (62 FR 45098). The regulations

related to the prohibitions on travel–

related transactions in Cuba, the

payment of awards and settlements

relating to the Iran–U.S. Claims

Tribunal in The Hague, and to the

consolidation and standardization of

information collection provisions

administered by the Office of Foreign

Assets Control.

EFFECTIVE DATE: June 26, 1998.

FOR FURTHER INFORMATION CONTACT:

Steven I. Pinter, Chief of Licensing (tel.:

202/622–2480), David H. Harmon, Chief

of Enforcement (tel.: 202/622–2430), or

William B. Hoffman, Chief Counsel (tel.:

202/622–2410), Office of Foreign Assets

Control, Department of the Treasury,

Washington, DC 20220.

SUPPLEMENTARY INFORMATION:

Electronic Availability

This document is available as an

electronic file on The Federal Bulletin

Board the day of publication in the

Federal Register. By modem, dial 202/

512–1387 and type ‘‘/GO FAC,’’ or call

202/512–1530 for disk or paper copies.

This file is available for downloading

without charge in WordPerfect 5.1,

ASCII, and Adobe AcrobatR readable

(*.PDF) formats. For Internet access, the

address for use with the World Wide

Web (Home Page), Telnet, or FTP

protocol is: fedbbs.access.gpo.gov. The

document is also accessible for

downloading in ASCII format without

charge from Treasury’s Electronic

Library (‘‘TEL’’) in the ‘‘Business, Trade

and Labor Mall’’ of the FedWorld

bulletin board. By modem, dial 703/

321–3339, and select self–expanding file

‘‘T11FR00.EXE’’ in TEL. For Internet

access, use one of the following

protocols: Telnet = fedworld.gov

(192.239.93.3); World Wide Web (Home

Page) = http://www.fedworld.gov; FTP

= ftp.fedworld.gov (192.239.92.205).

Additional information concerning the

programs of the Office of Foreign Assets

Control is available for downloading

from the Office’s Internet Home Page:

http://www.ustreas.gov/treasury/

services/fac/fac.html, or in fax form

through the Office’s 24–hour fax–on–

demand service: call 202/622–0077

using a fax machine, fax modem, or

(within the United States) a touch–tone

telephone.

Background

The final regulations that are the

subject of these corrections amended the

Cuban Assets Control Regulations, 31

CFR part 515 (the ‘‘CACR’’), the Iranian

Transactions Regulations, 31 CFR part

560 (the ‘‘ITR’’), and the Reporting and

Procedures Regulations, 31 CFR part

501 (the ‘‘RPR’’).

The CACR were amended to indicate

the existence of a presumption that

persons subject to U.S. jurisdiction who

have traveled to Cuba without the

authority of a general or specific license

have necessarily engaged in prohibited

travel–related transactions. This

presumption is subject to rebuttal upon

presentation of a statement, signed by

the traveler and accompanied by

appropriate supporting documentation,

that (1) no transactions were entered

into, or (2) the travel was fully hosted

by a person or persons not subject to the

jurisdiction of the United States and

was not in exchange for services

provided in Cuba or elsewhere. The ITR were amended to authorize

by general license the payment of

awards against Iran issued by the Iran–

U.S. Claims Tribunal in The Hague, and

implementation (other that certain

exports and reexports) and payment of

awards and settlements to which the

United States Government is a party.

The final rule also authorized by general

license the provision of certain legal

services to the Government of Iran and

persons in Iran.

Finally, the RPR consolidated and

standardized in a single part common

provisions on collections of information

and procedures in existing regulations

administered by the Office of Foreign

Assets Control. This final rule included

an initial and annual requirement to

report on blocked assets or retained

funds transfers — as well as periodic

reports on funds transfers rejected by

U.S. financial institutions — for

administrative and foreign policy

formulation purposes. The rule also

required reports on U.S. litigation and

other dispute resolution proceedings

where the proceedings may affect

blocked assets or funds retained by

banks that have stopped violative

transfers. In addition, new procedures

were set forth for persons seeking the

unblocking of funds they believe have

been blocked due to mistaken identity,

or seeking administrative review of their

designation or that of a vessel as

blocked. In addition, the reporting

requirements and licensing and other

procedures of the new part are made

applicable to transactions that have

become subject to economic sanctions

programs for which implementation and

administration are delegated to the

Office of Foreign Assets Control.

Need for Correction

As published, the final regulations

contain errors which may prove to be

misleading and are in need of

clarification.

Correction of Publication

Accordingly, the final regulations are

corrected as follows:

1. The publication on May 18, 1998,

which was the subject of FR Doc. 98–

13120 amending the Cuban Assets

Control Regulations, is corrected as

follows. On page 27351, in the second

column, amendatory instruction 2 is

corrected to read: ‘‘2. Paragraph (g) of

§ 515.560 is revised to read as follows:’’.

2. The publication on August 4, 1997,

which was the subject of FR Doc. 97–

20447 amending the Iranian

Transactions Regulations, is corrected as

follows. On page 41852 in the third

column, amendatory instruction 3 is

corrected to read: ‘‘3. The introductory

text of paragraph (a) and paragraphs

(a)(3) and (a)(5)(i) of § 560.525 are

revised to read as follows:’’.