23868 Federal Register / Vol. 66, No. 91 / Thursday, May 10, 2001 / Proposed Rules

Each Bank, after consultation with its

Advisory Council, may set aside

annually, in the aggregate, up to the

greater of $3.0 million or 25 percent of

its annual required AHP contribution to

provide funds to members participating

in the Bank’s homeownership set-aside

programs, pursuant to the requirements

of this part. Any homeownership setaside funds that are not committed or

used by the end of the year in which

they were set aside shall be committed

or used by the end of such year to fund

project modifications or the next highest

scoring AHP applications in the Bank’s

final funding period of the year for its

competitive application program. In

cases where the amount of

homeownership set-aside funds applied

for by members in a given year exceeds

the amount available for that year, a

Bank may allocate up to the greater of

$3.0 million or 25 percent of its annual

required AHP contribution for the

subsequent year to the current year’s

homeownership set-aside programs

pursuant to written policies adopted by

the Bank’s board of directors. Beginning

in 2002 and for subsequent years, the

maximum dollar limits set forth in this

paragraph shall be adjusted annually by

the Finance Board to reflect any

percentage increase in the preceding

year’s Consumer Price Index (CPI) for all

urban consumers, as published by the

Department of Labor. Each year, as soon

as practicable after the publication of

the previous year’s CPI, the Finance

Board shall publish notice by Federal

Register, distribution of a

memorandum, or otherwise, of the CPIadjusted limits on the maximum setaside dollar amount. A Bank may

establish one or more homeownership

set-aside programs pursuant to written

policies adopted by the Bank’s board of

directors. A Bank’s board of directors

shall not delegate to Bank officers or

other Bank employees the responsibility

for adopting such policies.

* * * * *

§ 951.4 [Amended]

3. Amend § 951.4 by:

a. In paragraph (a), adding ‘‘and/or

community lending’’ after ‘‘housing’’;

b. In paragraph (b), adding ‘‘and/or

community lending’’ after ‘‘housing’’;

c. In paragraph (f)(1), removing

‘‘community investment’’ wherever it

appears and adding, in its place,

‘‘community lending’’; and

d. In paragraph (f)(3), removing

‘‘community development’’ and adding,

in its place, ‘‘community lending’’.

§ 951.5 [Amended]

4. Amend § 951.5 by removing

paragraph (a)(7)(iii).

§ 951.8 [Amended]

5. Amend § 951.8(c)(3) by:

a. Removing the heading for

paragraph (c)(3)(i);

b. Removing paragraph designation

(c)(3)(i); and

c. Redesignating paragraph (c)(3)(ii) as

paragraph (c)(4).

6. Amend § 951.10 by:

a. Revising paragraph (a)(1)(ii);

b. In paragraph (a)(2)(ii), removing

‘‘the member and’’ and ‘‘the member or’’

wherever they appear; and

c. In paragraph (b)(2), removing

paragraph (b)(2)(ii), and removing

paragraph designation (b)(2)(i).

The revision reads as follows:

§ 951.10 Initial monitoring requirements.

(a) * * *

(1) * * *

(ii) Where AHP subsidies are used to

finance the purchase of owner-occupied

units, the project sponsor must maintain

household income verification

documentation available for review by

the member or the Bank.

* * * * *

Dated: May 2, 2001.

By the Board of Directors of the Federal

Housing Finance Board.

Allan I. Mendelowitz,

Chairman.

[FR Doc. 01–11706 Filed 5–9–01; 8:45 am]

BILLING CODE 6725–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Parts 1 and 301

[REG–101739–00]

RIN–1545–AX75

Clarification of Entity Classification

Rules; Hearing Cancellation

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Cancellation of notice of public

hearing on proposed rulemaking.

SUMMARY: This document provides

notice of cancellation of a public

hearing on proposed regulations relating

to section 7701 that address the Federal

tax classification of a business entity

wholly owned by a foreign government

and provide that a nonbank entity that

is wholly owned by a foreign bank

cannot be disregarded as an entity

separate from its owner for purposes of

applying the special rules of the Internal

Revenue Code applicable to banks.

DATES: The public hearing originally

scheduled for May 16, 2001, at 10 a.m.,

is cancelled.

FOR FURTHER INFORMATION CONTACT:

Sonya M. Cruse of the Regulations Unit

at (202) 622–7180 (not a toll-free

number).

SUPPLEMENTARY INFORMATION: A notice

of proposed rulemaking and notice of

public hearing that appeared in the

Federal Register on Friday, January 12,

2001, (66 FR 2854), announced that a

public hearing was scheduled for May

16, 2001, at 10 a.m., in room 6718. The

subject of the public hearing is proposed

regulations under section 7701 of the

Internal Revenue Code. The public

comment period for these regulations

expired on April 25, 2001.

The notice of proposed rulemaking

and notice of public hearing, instructed

those interested in testifying at the

public hearing to submit a request to

speak and an outline of the topics to be

addressed. As of Friday, May 4, 2001,

no one has requested to speak.

Therefore, the public hearing scheduled

for May 16, 2001, is cancelled.

Cynthia E. Grigsby,

Chief, Regulations Unit, Office of Special

Counsel (Modernization & Strategic

Planning).

[FR Doc. 01–11842 Filed 5–9–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE INTERIOR

Office of Surface Mining Reclamation

and Enforcement

30 CFR Part 904

[SPATS No. AR–038–FOR]

Arkansas Regulatory Program

AGENCY: Office of Surface Mining

Reclamation and Enforcement, Interior.

ACTION: Proposed rule; reopening and

extension of public comment period on

proposed amendment.

SUMMARY: The Office of Surface Mining

Reclamation and Enforcement (OSM) is

announcing receipt of revisions to a

previously proposed amendment to the

Arkansas regulatory program (Arkansas

program) under the Surface Mining

Control and Reclamation Act of 1977

(SMCRA). The revisions concern

submission and processing of requests

for valid existing rights determinations;

interpretative rule related to subsidence

due to underground coal mining in

areas designated by Act of Congress;

road systems; public notices of filing of

permit applications; and legislative

public hearings. Arkansas intends to

revise its program to be consistent with

the corresponding Federal regulations.

Federal Register / Vol. 66, No. 91 / Thursday, May 10, 2001 / Proposed Rules 23869

DATES: We will accept written

comments until 4 p.m., c.d.t., May 25,

2001.

ADDRESSES: You should mail or hand

deliver written comments to Michael C.

Wolfrom, Director, Tulsa Field Office at

the address listed below.

You may review copies of the

Arkansas program, the amendment, and

all written comments received in

response to this document at the

addresses listed below during normal

business hours, Monday through Friday,

excluding holidays. You may receive

one free copy of the amendment by

contacting OSM’s Tulsa Field Office.

Michael C. Wolfrom, Director, Tulsa

Field Office, Office of Surface Mining,

5100 East Skelly Drive, Suite 470, Tulsa,

Oklahoma 74135–6547, Telephone:

(918) 581–6430.

Arkansas Department of

Environmental Quality, Surface Mining

and Reclamation Division, 8001

National Drive, Little Rock, Arkansas

72219–8913, Telephone (501) 682–0744.

FOR FURTHER INFORMATION CONTACT:

Michael C. Wolfrom, Director, Tulsa

Field Office. Telephone: (918) 581–

6430. Internet: mwolfrom@osmre.gov.

SUPPLEMENTARY INFORMATION:

I. Background on the Arkansas

Program

On November 21, 1980, the Secretary

of the Interior conditionally approved

the Arkansas program. You can find

background information on the

Arkansas program, including the

Secretary’s findings, the disposition of

comments, and the conditions of

approval in the November 21, 1980,

Federal Register (45 FR 77003). You can

find later actions on the Arkansas

program at 30 CFR 904.10, 904.12,

904.15, and 904.16.

II. Discussion of the Proposed

Amendment

By letter dated March 1, 2001

(Administrative Record No. AR–567.04),

Arkansas sent us an amendment to its

program under SMCRA and the Federal

regulations at 30 CFR 732.17(b).

Arkansas sent the amendment in

response to a letter dated August 23,

2000 (Administrative Record No. AR–

567), that we sent to Arkansas under 30

CFR 732.17(c). We announced receipt of

the amendment in the April 6, 2001,

Federal Register (66 FR 18216) and

invited public comment on its

adequacy. The public comment period

closed May 7, 2001.

During our review of the amendment,

we identified concerns relating to

submission and processing of requests

for valid existing rights determinations;

interpretative rule related to subsidence

due to underground coal mining in

areas designated by Act of Congress;

road systems; public notices of filing of

permit applications; and legislative

public hearings. We notified Arkansas

of these concerns by letter dated April

11, 2001 (Administrative Record No.

AR–567.06). By letter dated April 19,

2001 (Administrative Record No. AR–

567.08), Arkansas sent us revisions for

the following provisions of the

amendment:

A. Section 761.16 Submission and

Processing of Requests for Valid Existing

Rights Determinations

1. Arkansas proposes to make an

editorial correction in the last sentence

in paragraph (b). The revised last

sentence will read as follows:

* * * This request may be submitted before

preparing and submitting an application for

a permit or boundary revision for the land

unless the applicable regulatory program

provides otherwise.

2. Arkansas proposes to revise

paragraph (d)(1) so that it states that the

Office of Surface Mining Reclamation

and Enforcement (OSM) instead of ‘‘the

agency’’ will publish a notice in the

Federal Register if the applicant’s

request for valid existing rights

determination involves Federal lands

within an area listed in Section

761.11(a) or (b).

3. Arkansas proposes to revise the last

sentence in paragraph (e)(5)(ii) so that it

states that the Office of Surface Mining

Reclamation and Enforcement (OSM)

instead of ‘‘the agency’’ will publish the

determination, together with an

explanation of appeal rights and

procedures, in the Federal Register if

the applicant’s request for valid existing

rights determination involves Federal

lands within an area listed in Section

761.11(a) or (b).

B. Section 761.200 Interpretative Rule

Related to Subsidence Due to

Underground Coal Mining in Areas

Designated by Act of Congress

Arkansas proposes to revise this

section by replacing obsolete

‘‘legislative version’’ citations of the

State Act with current ‘‘annotated

version’’ citations of the State Act. The

revised section will read as follows:

(a) Interpretation of Section 761.11—

AREAS WHERE MINING IS PROHIBITED OR

LIMITED. Subsidence due to underground

coal mining is not included in the definition

of surface coal mining operations under

Section 15–58–104(16) of the Act and Section

700.5 of this chapter and therefore is not

prohibited in areas protected under Section

15–58–501(a)(1) of the Act.

C. Section 780.37 Road Systems

Arkansas proposes to revise paragraph

(a)(4) by replacing the words ‘‘regulatory

authority’’ with the word ‘‘Director’’ for

consistency with the other regulations

in this section. The revised paragraph

will read as follows:

(4) Contain a description of measures to be

taken to obtain approval of the Director for

alteration or relocation of a natural stream

channel under Section 816.151(c)(5) of this

chapter;

D. Section 786.11 Public Notices of

Filing of Permit Applications

Arkansas proposes to revise paragraph

(a)(5) to require applicants to include

information on the approximate timing

of any proposed relocation or closure of

a public road. The revised paragraph

will read as follows:

(5) If an applicant seeks a permit to mine

within 100 feet of the outside right-of-way of

a public road or to relocate or close a public

road, except where public notice and hearing

have previously been provided for this

particular part of the road in accordance with

Section 761.14 of this Chapter, a concise

statement describing the public road, the

particular part to be relocated or closed, and

the approximate timing and duration of the

relocation or closing.

E. Section 786.14 Legislative Public

Hearings

Arkansas proposes to revise paragraph

(c) to reflect that the public hearings, if

requested under Section 761.14(c), are

required if the applicant proposes to

relocate or close a public road or

conduct surface coal mining operations

within 100 feet, measured horizontally,

of the outside right-of-way line of a

public road. The revised paragraph will

read as follows:

(c) Legislative Public Hearings held in

accordance with this Section may be used by

the Director as the public hearing required

under Section 761.14(c) where the applicant

proposes to relocate or close a public road or

conduct surface coal mining operations

within 100 feet, measured horizontally, of the

outside right-of-way line of a public road.

III. Public Comment Procedures

We are reopening the comment period

on the proposed Arkansas program

amendment to provide you an

opportunity to reconsider the adequacy

of the amendment in light of the

additional materials sent to us. Under

the provisions of 30 CFR 732.17(h), we

are requesting comments on whether the

amendment satisfies the program

approval criteria of 30 CFR 732.15. If we

approve the amendment, it will become

part of the Arkansas program.

Written Comments: If you submit

written or electronic comments on the

proposed rule during the 15-day

23870 Federal Register / Vol. 66, No. 91 / Thursday, May 10, 2001 / Proposed Rules

comment period, they should be

specific, should be confined to issues

pertinent to the notice, and should

explain the reason for your

recommendation(s). We may not be able

to consider or include in the

Administrative Record comments

delivered to an address other than the

one listed above (see ADDRESSES).

Electronic Comments: Please submit

Internet comments as an ASCII,

WordPerfect, or Word file avoiding the

use of special characters and any form

of encryption. Please also include ‘‘Attn:

SPATS NO. AR–038–FOR’’ and your

name and return address in your

Internet message. If you do not receive

a confirmation that we have received

your Internet message, contact the Tulsa

Field Office at (918) 581–6430.

Availability of Comments: Our

practice is to make comments, including

names and home addresses of

respondents, available for public review

during regular business hours at OSM’s

Tulsa Field Office (see ADDRESSES).

Individual respondents may request that

we withhold their home address from

the administrative record, which we

will honor to the extent allowable by

law. There also may be circumstances in

which we would withhold from the

administrative record a respondent’s

identity, as allowable by law. If you

wish us to withhold your name and/or

address, you must state this

prominently at the beginning of your

comment. However, we will not

consider anonymous comments. We

will make all submissions from

organizations or businesses, and from

individuals identifying themselves as

representatives or officials of

organizations or businesses, available

for public inspection in their entirety.

IV. Procedural Determinations

Executive Order 12866—Regulatory

Planning and Review

This rule is exempted from review by

the Office of Management and Budget

under Executive Order 12866.

Executive Order 12630—Takings

This rule does not have takings

implications. This determination is

based on the analysis performed for the

counterpart Federal regulations.

Executive Order 13132—Federalism

This rule does not have federalism

implications. SMCRA delineates the

roles of the Federal and State

governments with regard to the

regulation of surface coal mining and

reclamation operations. One of the

purposes of SMCRA is to ‘‘establish a

nationwide program to protect society

and the environment from the adverse

effects of surface coal mining

operations.’’ Section 503(a)(1) of

SMCRA requires that State laws

regulating surface coal mining and

reclamation operations be ‘‘in

accordance with’’ the requirements of

SMCRA, and section 503(a)(7) requires

that State programs contain rules and

regulations ‘‘consistent with’’

regulations issued by the Secretary

under SMCRA.

Executive Order 12988—Civil Justice

Reform

The Department of the Interior has

conducted the reviews required by

section 3 of Executive Order 12988 and

has determined that, to the extent

allowed by law, this rule meets the

applicable standards of subsections (a)

and (b) of this section. 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

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

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

1292(d)) provides that a decision on a

proposed State regulatory program

provision does not constitute a major

Federal action within the meaning of

section 102(2)(C) of the National

Environmental Policy Act (42 U.S.C.

4332(2)(C)). A determination has been

made that such decisions are

categorically excluded from the NEPA

process (516 DM 8.4.A).

Paperwork Reduction Act

This rule does not contain

information collection requirements that

require approval by the Office of

Management and Budget 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 counterpart 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.

Therefore, 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

counterpart Federal regulations.

Small Business Regulatory Enforcement

Fairness Act

This rule is not a major rule under 5.

U.S.C. 804(2), the Small Business

Regulatory Enforcement Fairness Act.

This rule:

a. Does not have an annual effect on

the economy of $100 million.

b. Will not cause a major increase in

costs or prices for consumers,

individual industries, federal, state, or

local government agencies, or

geographic regions.

c. Does not have significant adverse

effects on competition, employment,

investment, productivity, innovation, or

the ability of U.S. based enterprises to

compete with foreign-based enterprises.

This determination is based upon the

fact that the State submittal which is the

subject of this rule is based upon

counterpart Federal regulations for

which an analysis was prepared and a

determination made that the Federal

regulation was not considered a major

rule.

Unfunded Mandates

This rule will not impose a cost of

$100 million or more in any given year

on any governmental entity or the

private sector.

List of Subjects in 30 CFR Part 904

Intergovernmental relations, Surface

mining, Underground mining.

Dated: May 2, 2001.

John W. Coleman,

Acting Regional Director, Mid-Continent

Regional Coordinating Center.

[FR Doc. 01–11728 Filed 5–9–01; 8:45 am]

BILLING CODE 4310–05–P