Federal Register / Vol. 63, No. 145 /Wednesday, July 29, 1998 / Proposed Rules 40383

SUMMARY: This document announces the

existence of and requests comments on

proposed airworthiness design

standards for acceptance of the Model

Deland Travelaire airplane under FAA’s

rules on designation of applicable

regulations for primary category aircraft.

DATES: Comments must be received on

or before August 28, 1998.

ADDRESSES: Send all comments to the

FAA, Standards Office, Small Airplane

Directorate (ACE–110), Aircraft

Certification Service, 601 East 12th

Street, Kansas City, MO 64106.

FOR FURTHER INFORMATION CONTACT: Tim

Smyth, Aerospace Engineer, Standards

Office (ACE–111), Small Airplane

Directorate, Aircraft Certification

Service, FAA; telephone number (816)

426–6941, fax number (816) 426–2169.

SUPPLEMENTARY INFORMATION: Any

person may obtain a copy of this

information by contacting the person

named above under FOR FURTHER

INFORMATION CONTACT.

Comments Invited

We invite interested parties to submit

comments on the proposed

airworthiness standards to the address

specified above. Commenters must

identify the design standards

(Department of Commerce Aeronautics

Bulletin 7A, as amended October 1,

1934, as the design standard for the

unmodified airplane structure and

Transport Canada’s TP10141E Ultralight

(Sportplane) design standard for all

modifications) and submit comments to

the address specified above. The FAA

will consider all communications

received on or before the closing date

before issuing the final acceptance. The

proposed airworthiness design

standards and comments received may

be inspected at the FAA, Small Airplane

Directorate, Aircraft Certification

Service, Standards Office (ACE–110),

1201 Walnut, Room 900, Kansas City,

MO 64106, between the hours of 7:30

a.m. and 4:00 p.m. weekdays, except

Federal holidays.

Background

The ‘‘primary’’ category for aircraft

was created specifically for the simple,

low performance personal aircraft.

Section 21.17(f) provides a means for

applicants to propose airworthiness

standards for their particular primary

category aircraft. The FAA procedure

establishing appropriate airworthiness

standards includes reviewing and

possibly revising the applicant’s

proposal, publication of the submittal in

the Federal Register for public review

and comment, and addressing the

comments. After all necessary revisions,

the standards are published as approved

FAA airworthiness standards.

Accordingly, the applicant, Orlando

Helicopter Airways, Inc., has submitted

a request to the FAA to include the

Department of Commerce Aeronautics

Bulletin 7A, as amended October 1,

1934, as the design standard for the

unmodified airplane structure and

Transport Canada’s TP10141E Ultralight

(Sportplane) design standard for all

modifications. The Department of

Commerce Aeronautics Bulletin 7A was

used in the original certification in

March 1928 of the Curtiss Travel Aire

2000; therefore, the FAA considers this

standard as continuing to be valid for

the unmodified parts of the Deland

Travelaire.

The authority citation for the

proposed airworthiness standards is as

follows:

Authority: 42 U.S.C. 7572; 49 U.S.C.

106(g), 40105, 40113, 44701–44702, 44707,

44709, 44711, 44713, 44715, 45303.

Proposed Airworthiness Standards for

Acceptance Under the Primary

Category Rule

The FAA is requiring 500 hours of

operational aviation service history of

the derivative V8 engine/woodpropeller combination on an airplane

rather than the 200 hours offered by the

applicant. The applicant has agreed to

this position; therefore, the certification

basis for the Deland Travelaire will be

the Primary Category Rule (part 21,

21.24) with Department of Commerce

Aeronautics Bulletin 7A, as amended

October 1, 1934, as the design standard

of the unmodified airplane structure

and Transport Canada’s TP10141E

Ultralight (Sportplane) Design Standard

will be used for all modifications.

Compliance with the acoustical

standards of the latest amendment to 14

CFR part 36 at the time of certification

will be required.

Issued in Kansas City, Missouri, on July 8,

1998.

Michael Gallagher,

Manager, Small Airplane Directorate, Aircraft

Certification Service.

[FR Doc. 98–20112 Filed 7–28–98; 8:45 am]

BILLING CODE 4910–13–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG–110332–98]

RIN 1545–AW43

Conversion to the Euro

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice of proposed rulemaking

by cross-reference to temporary

regulations and notice of public hearing.

SUMMARY: In the Rules and Regulations

of this issue of the Federal Register, the

IRS is issuing temporary regulations

relating to the change to the euro. The

text of those temporary regulations also

serves as the text of these proposed

regulations. This document also

provides a notice of public hearing on

these proposed regulations.

DATES: Written comments must be

received by October 1, 1998. Requests to

speak and outlines of oral comments to

be discussed at the public hearing

scheduled for October 20, at 10 a.m.,

must be received by September 29,

1998.

ADDRESSES: Send submissions to:

CC:DOM:CORP:R (REG–110332–98),

room 5226, Internal Revenue Service,

POB 7604, Ben Franklin Station,

Washington, DC 20044. Submissions

may be hand delivered between the

hours of 8 a.m. and 5 p.m. to:

CC:DOM:CORP:R (REG–110332–98)

Courier’s Desk, Internal Revenue

Service, 1111 Constitution Avenue NW.,

Washington, DC. Alternatively,

taxpayers may submit comments

electronically via the Internet by

selecting the ‘‘Tax Regs’’ option of the

IRS Home Page, or by submitting

comments directly to the IRS Internet

site at: http://www.irs.ustreas.gov/prod/

taxlregs/comments.html. The public

hearing will be held in room 2615,

Internal Revenue Building, 1111

Constitution Avenue NW., Washington,

DC.

FOR FURTHER INFORMATION CONTACT:

Concerning the regulations, Howard

Wiener, (202) 622–3870 or Thomas

Preston, (202) 622–3930; concerning

submissions and the hearing, LaNita

VanDyke, 202–622–7190 (not toll-free

numbers).

SUPPLEMENTARY INFORMATION:

Background

Temporary regulations in the Rules

and Regulations section of this issue of

the Federal Register amend the Income

Tax Regulations (26 CFR part 1) relating
40384 Federal Register / Vol. 63, No. 145 /Wednesday, July 29, 1998 / Proposed Rules

to sections 985 and 1001. The temporary

regulations contain rules relating to

conversion to the euro.

The text of those temporary

regulations also serves as the text of

these proposed regulations. The

preamble to the temporary regulations

explains the temporary regulations.

Request for Additional Comments

The Treasury and IRS request

additional comments on the following

issues.

(1) Whether the final regulations

should contain guidance (and the

substance of any such guidance)

concerning the application of sections

1092 and 1259. Comments should

separately address the rules for periods

before May 3, 1998, between May 3,

1998 and December 31, 1998, and after

December 31, 1998.

(2) Whether guidance is necessary

with respect to section 905, relating to

the redetermination of taxes in postconversion years.

(3) Whether a QBU whose functional

currency was a currency other than a

legacy currency, but whose functional

currency should properly be the euro

after the conversion, should be deemed

to have automatically changed its

functional currency to the euro.

(4) Whether the regulations

adequately address QBUs with

functional currencies of countries that

adopt the euro in the future. The

Treasury and IRS also request comments

regarding guidance clarifying the

treatment of section 988 transactions

that are held by euro functional

currency QBUs and that are

denominated in a currency that is

replaced by the euro in the future.

(5) Whether guidance is necessary to

address integrated section 988 hedging

transactions. It is intended that these

regulations be applied to section 988

integrated hedging transactions under

section 988(d) on an integrated basis. If

a QBU subsequently legs out of a

position of a section 988 integrated

hedging transaction after the euro

conversion, a leg that formerly was a

legacy currency position prior to the

conversion will be a euro denominated

position after the conversion, and the

section 988 rules should then be applied

to the euro denominated position.

Special Analyses

It has been determined that this notice

of proposed rulemaking is not a

significant regulatory action as defined

in EO 12866. Therefore, a regulatory

assessment is not required. It has also

been determined that section 553(b) of

the Administrative Procedure Act (5

U.S.C. chapter 5) and the Regulatory

Flexibility Act (5 U.S.C. chapter 6) do

not apply to these regulations, and,

therefore, a Regulatory Flexibility

Analyses is not required. Pursuant to

section 7805(f) of the Internal Revenue

Code, this notice of proposed

rulemaking will be submitted to the

Chief Counsel for Advocacy of the Small

Business Administration for comment

on its impact on small business.

Comments and Public Hearing

Before these proposed regulations are

adopted as final regulations,

consideration will be given to any

written comments (preferably a signed

original and eight (8) copies) that are

submitted timely to the IRS. All

comments will be available for public

inspection and copying.

A public hearing has been scheduled

for Tuesday, October 20, 1998, at 10

a.m., in room 2615, Internal Revenue

Building, 1111 Constitution Avenue

NW., Washington, DC. Because of access

restrictions, visitors will not be

admitted beyond the building lobby

more than 15 minutes before the hearing

starts.

The rules of 26 CFR 601.601(a)(3)

apply to the hearing.

Persons that wish to present oral

comments at the hearing must submit

written comments by October 1, 1998,

and submit an outline of the topics to

be discussed and the time to be devoted

to each topic (signed original and eight

(8) copies) by September 29, 1998.

A period of 10 minutes will be

allotted to each person for making

comments.

An agenda showing the scheduling of

the speakers will be prepared after the

deadline for receiving outlines has

passed. Copies of the agenda will be

available free of charge at the hearing.

Drafting Information

The principal authors of these

regulations are Howard A. Wiener, of

the Office of Associate Chief Counsel

(International) and Thomas Preston of

the Office of Associate Chief Counsel

(Domestic). However, other personnel

from the IRS and Treasury Department

participated in their development.

List of Subjects in 26 CFR Part 1

Income taxes, Reporting and

recordkeeping requirements.

Proposed Amendment to the

Regulations

Accordingly, 26 CFR part 1 is

proposed to be 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 1.985–8 is added to

read as follows:

§ 1.985–8 Special rules applicable to the

European Monetary Union (conversion to

the euro).

[The text of this proposed section is

the same as the text of § 1.985–8T

published elsewhere in this issue of the

Federal Register.]

Par. 3. Section 1.1001–5 is added to

read as follows:

§ 1.1001–5 European Monetary Union

(conversion to the euro).

[The text of this proposed section is

the same as the text of § 1.1001–5T

published elsewhere in this issue of the

Federal Register.]

Michael P. Dolan,

Deputy Commissioner of Internal Revenue

Service.

[FR Doc. 98–20024 Filed 7–28–98; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE INTERIOR

Office of Surface Mining Reclamation

and Enforcement

30 CFR Part 950

[WY–028–FOR]

Wyoming Regulatory Program

AGENCY: Office of Surface Mining

Reclamation and Enforcement, Interior.

ACTION: Proposed rule; public comment

period and opportunity for public

hearing on proposed amendment.

SUMMARY: The Office of Surface Mining

Reclamation and Enforcement (OSM) is

announcing receipt of a proposed

amendment to the Wyoming regulatory

program (hereinafter, the ‘‘Wyoming

program’’) under the Surface Mining

Control and Reclamation Act of 1977

(SMCRA). The proposed amendment

consists of revisions to rules and

statutes pertaining to: fish and wildlife

habitat and resource information, shrub

density, certification of maps by a

registered professional engineer,

geologic descriptions, topsoil

substitutes, special bituminous coal

mines, archaeological and historic

resources, permit transfers, civil

penalties, and miscellaneous changes to

Appendix A, which concerns vegetation

sampling methods and reclamation

success standards for surface coal