Federal Register / Vol. 63, No. 148 / Monday, August 3, 1998 / Notices 41303

Dated: July 28, 1998.

Sam Duraiswamy,

Chief, Nuclear Reactors Branch.

[FR Doc. 98–20599 Filed 7–31–98; 8:45 am]

BILLING CODE 7590–01–P

NUCLEAR REGULATORY

COMMISSION

Draft NUREG Report; Issuance,

Availability

The Nuclear Regulatory Commission

has issued for public comment Draft

NUREG–1521 titled ‘‘Technical Review

of Risk-Informed, Performance-Based

Methods for Nuclear Power Plant Fire

Protection Analyses.’’

As part of the staff’s efforts to focus

licensee and NRC resources on risksignificant activities, and to decrease the

prescriptiveness of its regulations

through performance-based methods

that allow licensees increased flexibility

in implementing NRC regulations, the

staff has conducted a technical review

to identify opportunities in the fire

protection area. Draft NUREG–1521

presents a technical review and analysis

of risk-informed, performance-based

methods that are alternatives to those in

current prescriptive fire protection

requirements or guidance that could

allow cost-effective methods for

implementing safety objectives, focusing

licensee efforts, and achieving greater

efficiency in the use of resources for

plant safety. A technical analysis of the

usefulness of the results and insights

derived from these methods (including

accounting for the uncertainties in the

results) in improving regulatory

decision making is presented.

Public comments are being solicited

on Draft NUREG–1521. Comments may

be accompanied by additional relevant

information or supporting data. The

staff specifically requests comments on

(1) whether information on any other

technical methods and models for riskinformed, performance applications not

covered in the report exist and should

be reviewed and included, and (2) riskinformed, performance-based

applications beyond those discussed in

the report that would provide regulatory

focus on risk significant issues, and

flexibility to licensees in implementing

NRC safety objectives.

A free single copy of Draft NUREG–

1521 may be requested by written

request to the U.S. Nuclear Regulatory

Commission, ATTN: Distribution and

Mail Services Section, Office of

Administration, Washington, DC 20555–

0001. Written comments may be

submitted to the Rules and Directives

Branch, Office of Administration, U.S.

Nuclear Regulatory Commission,

Washington, DC 20555–0001. Hand

deliver comments on draft NUREG–

1521 to 11545 Rockville Pike, Maryland

between 7:45 a.m. and 4:15 p.m on

Federal Workdays. Copies of comments

received may be examined at the NRC

Public Document Room, 2120 L Street

NW., Washington, DC. Comments will

be most helpful if received by November

30, 1998. This document is also

available at the NRC Web Site, http://

www.nrc.gov. See the link under

‘‘Technical Reports in the NUREG

Series’’ on the ‘‘Reference Library’’ page.

You may also provide comments at this

NRC Web Site. Instructions for sending

comments electronically are included

with the document, NUREG–1521, at

the web site.

Dated at Rockville, Maryland, this 28th day

of July 1998.

For the Nuclear Regulatory Commission.

Thomas L. King,

Director, Division of Systems Technology,

Office of Nuclear Regulatory Research.

[FR Doc. 98–20600 Filed 7–31–98; 8:45 am]

BILLING CODE 7590–01–P

OFFICE OF MANAGEMENT AND

BUDGET

Budget Rescissions and Deferrals

TO THE CONGRESS OF THE UNITED

STATES:

In accordance with the Congressional

Budget and Impoundment Control Act of

1974, I herewith report one proposed

rescission of budgetary resources, totaling

$5.2 million.

The proposed rescission affects programs

of the Department of the Interior.

William J. Clinton

THE WHITE HOUSE,

July 24, 1998.

Rescission Proposal No. R98–25

PROPOSED RESCISSION OF BUDGET

AUTHORITY

Report Pursuant to Section 1012 of P.L.

93–344

Agency: DEPARTMENT OF THE

INTERIOR

Bureau: Bureau of Land Management

Account: Mineral leasing and associated

payments

New budget authority: $5,200,000

Other budgetary resources:——

Total budgetary resources: 5,200,000

Amount proposed for rescission:

5,200,000

Proposed appropriations language:

The budget authority provided by

section 503 of Public Law 105–83 is

hereby rescinded.

Justification: The proposal would

rescind $5,200 thousand for a

conveyance to the State of Montana of

Federal mineral rights. This amount was

canceled under the Line Item Veto Act,

which the Supreme Court ruled

unconstitutional on June 25, 1998.

In connection with the Crown Butte/

New World Mine acquisition (addressed

in section 502 of P. L. 105–83), section

503 provides for the uncompensated

conveyance to the State of Montana of

either $10 million in Federal mineral

rights in Montana or the Federal mineral

rights in Otter Creek Tracts 1, 2, and 3

(in Montana).

Section 503 would cause Federal

taxpayers to lose their share of royalties

from Federally-owned lands, which

would normally be split between the

State where the Federally-owned lands

are located and the U.S. Treasury upon

development of Federal mineral rights.

The Federal share would be $5.2

million. The section would set a costly,

unnecessary precedent by requiring the

Federal Government to ‘‘compensate’’ a

State for a purchase or exchange of

lands between the Federal Government

and a willing seller. This precedent

could, therefore, discourage innovative,

cost-effective land protection solutions

in the future.

This proposed rescission applies to

the budget authority under each of the

alternative conveyances under sections

503(a)(1) and 503(a)(2).

This action is taken pursuant to the

Antideficiency Act (31 U.S.C. 1512).

Estimated programmatic effect: As a

result of the proposed rescission, net

Federal outlays will decrease, as

specified below.

(Note: The amount of the effect depends on

whether mineral rights would have been

conveyed under section 503(a)(1) or under

section 503(a)(2). As discussed below, the

Administration estimates that mineral rights

would more likely have been conveyed under

section 503(a)(1).) This will have a

commensurate effect on the Federal budget

deficit.
41304 Federal Register / Vol. 63, No. 148 / Monday, August 3, 1998 / Notices

1 Initially, the Great Plains Equity Fund will be

the only Portfolio investing in an Underlying

Portfolio, which will be the Great Plains

International Equity Fund.

2Applicants also request relief for each registered

open-end management investment company that

currently, or in the future, is part of the same

‘‘group of investment companies’’ as the Trust as

defined in section 12(d)(1)(G)(ii) of the Act. All

registered open-end management investment

companies which currently intend to rely on the

order are named as applicants. Any registered openOUTLAY CHANGES UNDER RESCISSION OF SECTION 503(A)(1)

Effect on outlays (in thousands of dollars)

FY 1998 FY 1999 FY 2000 FY 2001 FY 2003 Total

¥1,300 ¥1,300 ¥1,300 ¥1,300 ................................... ¥5,200

OUTLAY CHANGES UNDER RESCISSION OF SECTION 503(A)(2)

Effect on outlays (in thousands of dollars)

FY 1998 FY 1999 FY 2000 FY 2001 FY 2003 Total

.................................... ................................... ................................... ................................... ¥1,352 ¥1,352

The negotiations requirement in

section 503(b), and the legislative

history of section 503, make clear that

the intent of the section was that the

Secretary of the Interior would convey

$10 million in Federal mineral rights in

the State of Montana under section

503(a)(1), rather than all Federal mineral

rights in Otter Creek Tracts 1, 2, and 3

under section 503(a)(2), and it is most

likely that this is what the Secretary

would have done.

The discretionary budget authority in

both section 503(a)(1) and section

503(a)(2) is proposed to be rescinded,

but because the Secretary could not

have made both conveyances, and the

dollar amount of discretionary budget

authority for the intended and most

likely conveyance under section

503(a)(1) exceeds the dollar amount of

discretionary budget authority for the

alternative conveyance under section

503(a)(2) through FY 2003, the dollar

amount of discretionary budget

authority proposed for rescission above

of $5,200,000 is based upon the most

likely conveyance under section

503(a)(1).

[FR Doc. 98–20571 Filed 7–31–98; 8:45 am]

BILLING CODE 3110–01–P

SECURITIES AND EXCHANGE

COMMISSION

[Investment Company Act Release No.

23332; 812–10754]

Great Plains Funds, et al.; Notice of

Application

July 27, 1998.

AGENCY: Securities and Exchange

Commission (‘‘Commission’’).

ACTION: Notice of Application for

Exemption under the Investment

Company Act of 1940 (the ‘‘Act’’).

RELEVANT ACT SECTIONS: Order requested

under section 12(d)(1)(J) of the Act for

an exemption from section 12(d)(1) of

the Act, and under sections 6(c) and

17(b) of the Act for an exemption from

section 17(a) of the Act.

SUMMARY OF APPLICATION: Applicants

request an order that would permit them

to implement a ‘‘fund of funds’’

arrangement. The fund of funds would

invest in funds in the same group of

investment companies and in other

funds within the limits of section

12(d)(1)(F) of the Act. Applicants also

seek an exemption from the sales load

limitation in section 12(d)(1)(F) of the

Act.

APPLICANTS: Great Plains Fund (the

‘‘Trust’’) and First Commerce Investors,

Inc. (the ‘‘Adviser’’).

FILING DATES: The application was filed

on August 13, 1997, and amended on

May 15, 1998 and July 14, 1998.

Applicants have agreed to file an

amendment during the notice period,

the substance of which is reflected in

this notice.

HEARING OR NOTIFICATION OF HEARING: An

order granting the application will be

issued unless the Commission orders a

hearing. Interested persons may request

a hearing by writing to the

Commission’s Secretary and serving

applicants with a copy of the request,

personally or by mail. Hearing requests

should be received by the Commission

by 5:30 p.m. on August 21, 1998, and

should be accompanied by proof of

service on applicants in the form of an

affidavit or, for lawyers, a certificate of

service. Hearing requests should state

the nature of the writer’s interest, the

reason for the request, and the issues

contested. Persons who wish to be

notified of a hearing may request

notification by writing to the

Commission’s Secretary.

ADDRESSES: Secretary, Securities and

Exchange Commission, 450 Fifth Street,

NW., Washington, DC 20549. Great

Plains Funds, 5800 Corporate Drive,

Pittsburgh, PA 15237–7010. First

Commerce Investors, Inc., 610 NBC

Center, Lincoln, NB 68508.

FOR FURTHER INFORMATION CONTACT:

Kathleen L. Knisely, Staff Attorney, at

(202) 942–0517, or Nadya B. Roytblat,

Assistant Director, at (202) 942–0564

(Office of Investment Company

Regulation, Division of Investment

Management).

SUPPLEMENTARY INFORMATION: The

following is a summary of the

application. The complete application

may be obtained for a fee at the

Commission’s Public Reference Branch

(tel. 202–942–8090).

Applicants’ Representations

1. The Trust is registered as an openend management investment company

under the Act and currently consists of

five portfolios: Great Plains Equity

Fund, Great Plains Premier Fund, Great

Plains International Equity Fund, Great

Plains Intermediate Bond Fund, and

Great Plains Tax-Free Bond Fund. The

portfolios are advised by the Adviser,

which is registered under the

Investment Advisers Act of 1940.

2. Applicants request relief to permit

certain portfolios of the Trust (the

‘‘Portfolios’’) to invest in certain other

portfolios of the Trust (the ‘‘Underlying

Portfolios’’) that are in the same group

of investment companies as the

Portfolios.1 Applicants also request

relief to permit the Portfolios to invest

in other registered open-end

management investment companies that

are not part of the same group of

investment companies as the Portfolios

(the ‘‘Other portfolios’’) in accordance

with section 12(d)(1)(F) of the Act

discussed below.2 The Portfolios also