Federal Register / Vol. 90, No. 14 / Thursday, January 23, 2025 / Notices 8087 

80 17 CFR 200.30–3(a)(12). 

1See 15 U.S.C. 7201 et seq. 

2See Commission Statement of Policy 

Reaffirming the Status of the FASB as a Designated 

Private-Sector Standard Setter, Release No. 33–8221 

(Apr. 25, 2003) [68 FR 23333 (May 1, 2003)]. 

3The Financial Accounting Foundation’s Board 

of Trustees approved the FASB’s budget on Nov. 19, 

2024. The FAF submitted the approved budget to 

the Commission on Nov. 22, 2024. 

4See OMB Report to the Congress on the 

BBEDCA 251A Sequestration for Fiscal Year 2025 

(Mar. 11, 2024), available at https://

www.whitehouse.gov/wp-content/uploads/2024/03/ 

BBEDCA_251A_Sequestration_Report_FY2025.pdf. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.80

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–01621 Filed 1–22–25; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Securities Act of 1933 Release No. 11360/ 

January 17, 2025; Securities Exchange Act 

of 1934 Release No. 102235/January 17, 

2025] 

Order Regarding Review of Financial 

Accounting Standards Board (‘‘FASB’’) 

Accounting Support Fee for 2025 

Under Section 109 of the SarbanesOxley Act of 2002 

The Sarbanes-Oxley Act of 2002 

(‘‘SOX’’ or the ‘‘Act’’) provides that the 

Securities and Exchange Commission 

(the ‘‘Commission’’) may recognize, as 

generally accepted for purposes of the 

securities laws, any accounting 

principles established by a standardsetting body that meets certain criteria.1

Section 109 of SOX provides that all of 

the budget of such a standard-setting 

body shall be payable from an annual 

accounting support fee assessed and 

collected against each issuer, as may be 

necessary or appropriate to pay for the 

budget and provide for the expenses of 

the standard-setting body, and to 

provide for an independent, stable 

source of funding, subject to review by 

the Commission. Under Section 109(f) 

of the Act, the amount of fees collected 

for a fiscal year shall not exceed the 

‘‘recoverable budget expenses’’ of the 

standard-setting body. Section 109(i) of 

SOX amends Section 13(b)(2) of the 

Securities Exchange Act of 1934 to 

require issuers to pay the allocable share 

of a reasonable annual accounting 

support fee or fees, determined in 

accordance with Section 109 of the Act. 

On April 25, 2003, the Commission 

issued a policy statement concluding 

that the Financial Accounting Standards 

Board and its parent organization, the 

Financial Accounting Foundation 

(‘‘FAF’’), satisfied the criteria for an 

accounting standard-setting body under 

the Act, and recognizing the FASB’s 

financial accounting and reporting 

standards as ‘‘generally accepted’’ under 

Section 108 of the Act.2 Accordingly, 

the Commission undertook a review of 

the FASB’s accounting support fee for 

calendar year 2025.3 In connection with 

its review, the Commission also 

reviewed the budget for the FAF and the 

FASB for calendar year 2025. 

Section 109 of SOX provides that, in 

addition to the accounting support fee, 

the standard-setting body can have 

additional sources of revenue for its 

activities, such as earnings from sales of 

publications, provided that each 

additional source of revenue shall not 

jeopardize, in the judgment of the 

Commission, the actual or perceived 

independence of the standard setter. In 

this regard, the Commission also 

considered the interrelation of the 

operating budgets of the FAF, the FASB, 

and the Governmental Accounting 

Standards Board (‘‘GASB’’), the FASB’s 

sister organization, which sets 

accounting standards used by state and 

local government entities. The 

Commission has been advised by the 

FAF that neither the FAF, the FASB, nor 

the GASB accept contributions from the 

accounting profession. 

The Commission understands that the 

Office of Management and Budget 

(‘‘OMB’’) has determined the FASB’s 

spending of the 2025 accounting 

support fee is sequestrable under the 

Budget Control Act of 2011.4 So long as 

sequestration is applicable, we 

anticipate that the FAF will work with 

the Commission and Commission staff 

as appropriate regarding its 

implementation of sequestration. 

After its review, the Commission 

determined that the 2025 annual 

accounting support fee for the FASB is 

consistent with Section 109 of the Act. 

Accordingly, 

It is ordered, pursuant to Section 109 

of SOX, that the FASB may act in 

accordance with this determination of 

the Commission. 

By the Commission. 

Sherry R. Haywood, 

Assistant Secretary. 

[FR Doc. 2025–01614 Filed 1–22–25; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

[Disaster Declaration #20960 and #20961; 

TEXAS Disaster Number TX–20043] 

Administrative Declaration of a 

Disaster for the State of Texas 

AGENCY: U.S. Small Business 

Administration. 

ACTION: Notice. 

SUMMARY: This is a notice of an 

Administrative declaration of a disaster 

for the State of Texas dated January 16, 

2025. 

Incident: Severe Storm, Tornadoes, 

and Straight-line Winds. 

DATES: Issued on January 16, 2025. 

Incident Period: December 28, 2024. 

Physical Loan Application Deadline 

Date: March 17, 2025. 

Economic Injury (EIDL) Loan 

Application Deadline Date: October 16, 

2025. 

ADDRESSES: Visit the MySBA Loan 

Portal at https://lending.sba.gov to 

apply for a disaster assistance loan. 

FOR FURTHER INFORMATION CONTACT: 

Alan Escobar, Office of Disaster 

Recovery & Resilience, U.S. Small 

Business Administration, 409 3rd Street 

SW, Suite 6050, Washington, DC 20416, 

(202) 205–6734. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given that as a result of the 

Administrator’s disaster declaration, 

applications for disaster loans may be 

submitted online using the MySBA 

Loan Portal https://lending.sba.gov or 

other locally announced locations. 

Please contact the SBA disaster 

assistance customer service center by 

email at disastercustomerservice@

sba.gov or by phone at 1–800–659–2955 

for further assistance. 

The following areas have been 

determined to be adversely affected by 

the disaster: 

Primary Counties: Brazoria, 

Montgomery. 

Contiguous Counties: 

Texas: Fort Bend, Galveston, Grimes, 

Harris, Liberty, Matagorda, San 

Jacinto, Walker, Waller, Wharton. 

The Interest Rates are: 

Percent 

For Physical Damage: 

Homeowners with Credit Available Elsewhere ...................... 5.125 

Homeowners without Credit 

Available Elsewhere .............. 2.563 

Businesses with Credit Available Elsewhere ...................... 8.000 

Businesses without Credit 

Available Elsewhere .............. 4.000 

Non-Profit Organizations with 

Credit Available Elsewhere ... 3.625 


ddrumheller on DSK120RN23PROD with NOTICES1
8088 Federal Register / Vol. 90, No. 14 / Thursday, January 23, 2025 / Notices 

1The verified notice states that NFIR and FG&A 

are commonly controlled. 

2Although the verified notice states that the 

connection will be located at milepost ‘‘888,’’ the 

maps attached to the notice show the milepost as 

being 688. (Notice, Ex. 1.) 

Percent 

Non-Profit Organizations without Credit Available Elsewhere ..................................... 3.625 

For Economic Injury: 

Business and Small Agricultural 

Cooperatives without Credit 

Available Elsewhere .............. 4.000 

Non-Profit Organizations without Credit Available Elsewhere ..................................... 3.625 

The number assigned to this disaster 

for physical damage is 20960C and for 

economic injury is 209610. 

The State which received an EIDL 

Declaration is Texas. 

(Catalog of Federal Domestic Assistance 

Number 59008) 

Isabella Guzman, 

Administrator. 

[FR Doc. 2025–01588 Filed 1–22–25; 8:45 am] 

BILLING CODE 8026–09–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. FD 36824] 

North Florida Industrial Railroad, 

LLC—Lease and Operation 

Exemption—Rail Line in Columbia 

County, Fla. 

North Florida Industrial Railroad, LLC 

(NFIR), a noncarrier, has filed a verified 

notice of exemption under 49 CFR 

1150.31 to lease and operate 

approximately 4,891 feet of track in the 

vicinity of Lake City in Columbia 

County, Fla. (the Line), connecting the 

North Florida Mega Industrial Park 

(Park) with a rail line operated by 

Florida Gulf & Atlantic Railroad, LLC 

(FG&A).1 According to the verified 

notice, there are no designated 

mileposts on the Line, although it will 

connect with FG&A’s line at milepost 

688.2

This transaction is related to a 

concurrently filed petition for 

exemption in Docket No. FD 36823, 

Macquarie Infrastructure Partners V GP, 

LLC—Continuance in Control—North 

Florida Industrial Railroad, in which 

Macquarie Infrastructure Partners, for 

the benefit of the Macquarie 

Infrastructure Partners V fund vehicle; 

MIP V Rail, LLC; Pinsly Holdco, LLC; 

and Pinsly Railroad Company, LLC, 

seeks Board approval to continue in 

control of NFIR upon NFIR’s becoming 

a Class III rail carrier. 

According to the verified notice, the 

Line is owned by Columbia County, 

Fla., a noncarrier, and is currently 

inactive. The verified notice further 

states that Columbia County is in the 

process of developing the Park, and that 

lease and operation of the Line will 

enable tenants to receive inbound and 

originate outbound freight shipments 

via NFIR, which will interchange with 

FG&A. Pursuant to the proposed 

transaction, NFIR will maintain and 

operate the Line, provide switching and 

related rail services to the Park tenants, 

and effect the interchange and delivery 

of inbound and origination and 

interchange of outbound line-haul rail 

shipments. 

NFIR certifies that its projected 

annual revenues will not exceed $5 

million and will not result in the 

creation of a Class I or Class II rail 

carrier. NFIR also certifies that the 

proposed transaction does not involve 

any provision or agreement that would 

limit future interchange with a thirdparty connecting carrier. 

NFIR states that it intends to 

consummate the proposed transaction 

as soon as practicable after the effective 

dates of this exemption and the 

continuance in control exemption that 

is the subject of the related petition for 

exemption in Docket No. FD 36823. The 

effective date of this lease and operation 

exemption will be held in abeyance 

pending review of the petition for 

exemption. 

If the verified notice contains false or 

misleading information, the exemption 

is void ab initio. Petitions to revoke the 

exemption under 49 U.S.C. 10502(d) 

may be filed at any time. The filing of 

a petition to revoke will not 

automatically stay the effectiveness of 

the exemption. If the petition for 

exemption in Docket No. FD 36823 is 

granted, a deadline for filing petitions to 

stay this lease and operation exemption 

will be established in a decision that 

also establishes an effective date for this 

exemption. 

All pleadings, referring to Docket No. 

FD 36824, must be filed with the 

Surface Transportation Board either via 

e-filing on the Board’s website or in 

writing addressed to 395 E Street SW, 

Washington, DC 20423–0001. In 

addition, a copy of each pleading must 

be served on NFIR’s representative, 

Terence M. Hynes, Sidley Austin LLP, 

1501 K Street NW, Washington, DC 

20005. 

According to NFIR, this action is 

categorically excluded from 

environmental review under 49 CFR 

1105.6(c) and from historic preservation 

reporting requirements under 49 CFR 

1105.8(b). 

Board decisions and notices are 

available at www.stb.gov. 

Decided: January 17, 2024. 

By the Board, Scott M. Zimmerman, Acting 

Director, Office of Proceedings. 

Zantori Dickerson, 

Clearance Clerk. 

[FR Doc. 2025–01590 Filed 1–22–25; 8:45 am] 

BILLING CODE 4915–01–P 

SURFACE TRANSPORTATION BOARD 

[Docket No. EP 774 (Sub-No. 2)] 

Notice of Passenger Rail Advisory 

Committee Meeting 

AGENCY: Surface Transportation Board. 

ACTION: Notice of Passenger Rail 

Advisory Committee meeting. 

SUMMARY: Notice is hereby given of a 

meeting of the Passenger Rail Advisory 

Committee (PRAC), pursuant to the 

Federal Advisory Committee Act 

(FACA). 

DATES: The meeting will be held on 

February 11, 2025, at 9:00 a.m. E.T. 

ADDRESSES: The meeting will be held at 

the Surface Transportation Board 

headquarters at 395 E Street SW, 

Washington, DC 20423. 

FOR FURTHER INFORMATION CONTACT: 

Brian O’Boyle at (202) 245–0364 or 

Brian.Oboyle@stb.gov. If you require an 

accommodation under the Americans 

with Disabilities Act for this meeting, 

please call (202) 245–0245 by February 

7, 2025. 

SUPPLEMENTARY INFORMATION: The PRAC 

was formed in 2023 to provide advice 

and guidance to the Board on passenger 

rail issues on a continuing basis to help 

the Board better fulfill its statutory 

responsibilities in overseeing certain 

aspects of passenger rail service. 

Establishment of the Passenger Rail 

Advisory Comm., EP 774 (STB served 

Nov. 13, 2023). The purpose of this 

meeting is to facilitate discussions 

regarding ideas on how to improve 

efficiency on passenger rail routes, 

reduce disputes between passenger rail 

carriers and freight rail hosts, and 

improve regulatory processes related to 

intercity passenger rail. Potential agenda 

items for this meeting include selection 

and prioritization of topics for further 

exploration by the PRAC, initial 

discussions regarding the selected 

topics, and discussion of draft bylaws. 

The meeting, which is open to the 

public, will be conducted in accordance 

with FACA, 5 U.S.C. app. 2; Federal 

Advisory Committee Management 

regulations, 41 CFR part 102–3; PRAC’s 

charter; and Board procedures. Further 


ddrumheller on DSK120RN23PROD with NOTICES1