Federal Register / Vol. 72, No. 231 / Monday, December 3, 2007 / Rules and Regulations 67853 

DEPARTMENT OF THE TREASURY 

Fiscal Service 

31 CFR Parts 351, 353, 359, 360, and 

363 

Offering and Governing Regulations 

for Series EE and Series I Savings 

Bonds, TreasuryDirect 

AGENCY: Bureau of the Public Debt, 

Fiscal Service, Treasury. 

ACTION: Final rule. 

SUMMARY: This rule lowers the annual 

purchase limitation per person for 

Series EE and Series I savings bonds, 

and eliminates the definitive $10,000 

denomination for Series I savings bonds. 

DATES: Effective: January 1, 2008. 

ADDRESSES: You can download this final 

rule at the following Internet addresses: 

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

http://www.gpoaccess.gov/ecfr. 

FOR FURTHER INFORMATION CONTACT: 

Elisha Whipkey, Director, Division of 

Program Administration, Office of 

Securities Operations, Bureau of the 

Public Debt, at (304) 480–6319 or 

elisha.whipkey@bpd.treas.gov. 

Susan Sharp, Attorney-Adviser, Dean 

Adams, Assistant Chief Counsel, 

Edward Gronseth, Deputy Chief 

Counsel, Office of the Chief Counsel, 

Bureau of the Public Debt, at (304) 480–

8692 or susan.sharp@bpd.treas.gov. 

SUPPLEMENTARY INFORMATION: This rule 

lowers the annual purchase limitation 

for Series EE and Series I savings bonds. 

Prior to this rule, an investor could 

purchase $30,000 each of definitive and 

book-entry Series EE savings bonds and 

$30,000 each of definitive and bookentry Series I savings bonds per person, 

per calendar year. This rule will permit 

an investor to purchase a principal 

amount of $5,000 each of definitive and 

book-entry Series EE savings bonds and 

$5,000 each of definitive and book-entry 

Series I savings bonds per person, per 

calendar year. As a result of the change 

in the annual purchase limitation, we 

are withdrawing the $10,000 Series I 

definitive savings bond denomination 

on original issue. 

The change will permit Treasury to 

continue to offer savings options for 

investors with limited means and 

market opportunities, while 

encouraging those with greater financial 

resources to participate in marketable 

Treasury securities auctions, which are 

a more efficient means for Treasury to 

issue debt. Both savings bonds and 

marketable securities are offered to 

individuals through TreasuryDirect, 

which is an internet-accessed, bookentry system for purchasing, holding, 

and conducting transactions in Treasury 

securities. Reducing the cap on yearly 

purchases will not affect the vast 

majority of current savings bond 

purchasers, approximately 98 percent of 

whom buy less than $5,000, our new 

cap, annually. 

Procedural Requirements 

This final rule does not meet the 

criteria for a ‘‘significant regulatory 

action’’ as defined in Executive Order 

12866. Therefore, a regulatory 

assessment is not required. 

Because this final rule relates to 

matters of public contract and 

procedures for United States securities, 

notice and public procedure and 

delayed effective date requirements are 

inapplicable, pursuant to 5 U.S.C. 

553(a)(2). 

As no notice of proposed rulemaking 

is required, the Regulatory Flexibility 

Act (5 U.S.C. 601 et seq.) does not 

apply. 

We ask for no new collections of 

information in this final rule. Therefore, 

the Paperwork Reduction Act (44 U.S.C. 

3507) does not apply. 

List of Subjects 

31 CFR Part 351 

Bonds, Federal Reserve system, 

Government securities. 

31 CFR Part 353 

Banks and banking, Government 

securities, Federal Reserve system. 

31 CFR Part 359 

Bonds, Federal Reserve system, 

Government securities, Securities. 

31 CFR Part 360 

Bonds, Federal Reserve system, 

Government securities, Securities. 

31 CFR Part 363 

Bonds, Electronic funds transfer, 

Federal Reserve system, Government 

securities, Securities. 

■ Accordingly, for the reasons set out in 

the preamble, 31 CFR Chapter II, 

Subchapter B, is amended as follows: 

PART 351—OFFERING OF UNITED 

STATES SAVINGS BONDS, SERIES EE 

■ 1. The authority citation for Part 351 

continues to read as follows: 

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 

U.S.C. 3105. 

■ 2. Amend § 351.44 by revising the first 

sentence to read as follows: 

§ 351.44 What amount of definitive Series 

EE savings bonds may I purchase per year? 

The principal amount of definitive 

Series EE savings bonds that may be 

purchased in the name and TIN of any 

person in any calendar year is limited 

to $5,000. 

* * * * * 

■ 3. Revise § 351.65 to read as follows: 

§ 351.65 What amount of book-entry 

Series EE savings bonds may I acquire per 

year? 

The principal amount of book-entry 

Series EE savings bonds that you may 

acquire in your name and TIN per 

calendar year is limited to $5,000. 

PART 353—REGULATIONS 

GOVERNING DEFINITIVE UNITED 

STATES SAVINGS BONDS, SERIES EE 

AND HH 

■ 4. The authority citation for Part 353 

continues to read as follows: 

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 

U.S.C. 3105, 3125. 

■ 5. Revise the heading for Part 353 to 

read as set forth above. 

■ 6. Amend § 353.10 by revising 

paragraph (a)(1) to read as follows: 

§ 353.10 Amounts which may be 

purchased. 

* * * * * 

(a) Series EE—(1) General annual 

limitation. $5,000 (principal amount). 

* * * * * 

PART 359—OFFERING OF UNITED 

STATES SAVINGS BONDS, SERIES I 

■ 7. The authority citation for part 359 

continues to read as follows: 

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 

U.S.C. 3105. 

■ 8. Revise the first sentence of § 359.25 

to read as follows: 

§ 359.25 What are the denominations and 

prices of definitive Series I savings bonds? 

Definitive Series I saving bonds are 

issued in denominations of $50, $75, 

$100, $200, $500, $1,000, and 

$5,000. * * * 

■ 9. Revise § 359.29 to read as follows: 

§ 359.29 What amount of definitive Series 

I savings bonds may I purchase per year? 

The principal amount of definitive 

Series I savings bonds that may be 

purchased in the name and TIN of any 

person in any calendar year is limited 

to $5,000. 

■ 10. Revise § 359.50 to read as follows: 

§ 359.50 What amount of book-entry 

Series I savings bonds may I acquire per 

year? 

The principal amount of book-entry 

Series I savings bonds that you may 

acquire in your name and TIN in any 

calendar year is limited to $5,000. 


yshivers on PROD1PC62 with RULES
67854 Federal Register / Vol. 72, No. 231 / Monday, December 3, 2007 / Rules and Regulations 

PART 360—REGULATIONS 

GOVERNING DEFINITIVE UNITED 

STATES SAVINGS BONDS, SERIES I 

■ 11. The authority citation for Part 360 

continues to read as follows: 

Authority: 5 U.S.C. 301; 31 U.S.C. 3105 

and 3125. 

■ 12. Amend § 360.10 by revising 

paragraph (a) to read as follows: 

§ 360.10 Amounts which may be 

purchased. 

* * * * * 

(a) General annual limitation, $5,000 

(par value). 

* * * * * 

PART 363—REGULATIONS 

GOVERNING SECURITIES HELD IN 

TREASURYDIRECT 

■ 13. The authority citation for part 363 

continues to read as follows: 

Authority: 5 U.S.C. 301; 12 U.S.C. 391; 31 

U.S.C. 3102, et seq.; 31 U.S.C. 3121, et seq. 

■ 14. Amend § 363.52 by revising the 

heading and paragraph (a) to read as 

follows: 

§ 363.52 What amount of book-entry 

Series EE and Series I savings bonds may 

I purchase in one year? 

(a) Purchase limitation. The amount 

of book-entry savings bonds that you 

may purchase in any calendar year is 

limited to $5,000 for Series EE savings 

bonds and $5,000 for Series I savings 

bonds. 

* * * * * 

Dated: August 16, 2007. 

Kenneth E. Carfine, 

Fiscal Assistant Secretary. 

[FR Doc. 07–5888 Filed 11–30–07; 8:45 am] 

BILLING CODE 4810–39–M 

ENVIRONMENTAL PROTECTION 

AGENCY 

40 CFR Part 52 

[EPA–R01–OAR–2007–0401; FRL–8496–6] 

Approval and Promulgation of Air 

Quality Implementation Plans; 

Massachusetts; State Implementation 

Plan Revision To Implement the Clean 

Air Interstate Rule 

AGENCY: Environmental Protection 

Agency (EPA). 

ACTION: Final rule. 

SUMMARY: EPA is approving a State 

Implementation Plan (SIP) revision 

submitted by the State of Massachusetts 

on March 30, 2007. This revision 

addresses the requirements of EPA’s 

Clean Air Interstate Rule (CAIR), 

promulgated on May 12, 2005 and 

subsequently revised on April 28, 2006 

and December 13, 2006. EPA has 

determined that the SIP revision fully 

implements the CAIR requirements for 

Massachusetts. Therefore, as a 

consequence of the SIP approval, the 

Administrator of EPA will also, in a 

separate document, issue a final rule to 

withdraw the Federal Implementation 

Plan (FIP) concerning NOX ozoneseason emissions for Massachusetts. 

In the SIP revision that EPA is 

approving, Massachusetts will meet 

CAIR requirements by participating in 

the EPA-administered cap-and-trade 

program addressing NOX ozone-season 

emissions. Massachusetts’s SIP revision 

is based on EPA’s model CAIR NOX

ozone season rule and is, in most 

respects, substantively identical to that 

model rule. The Massachusetts CAIR 

program has two major substantive 

differences from that model rule 

(expanded applicability, and a different 

methodology for allocating NOX

allowances), both of which are 

consistent with the flexibility allowed 

under CAIR for state participation in the 

EPA-administered cap-and-trade 

program. The SIP revision complies 

with the statutory and regulatory 

requirements for approval of a CAIR 

NOX ozone-season program. This action 

is being taken in accordance with the 

Clean Air Act. 

EFFECTIVE DATE: This rule is effective on 

December 3, 2007. 

ADDRESSES: EPA has established a 

docket for this action under Docket 

Identification No. EPA–R01–OAR–

2007–0401. All documents in the docket 

are listed on the http:// 

www.regulations.gov Web site. Although 

listed in the index, some information 

may not be publicly available, i.e., CBI 

or other information whose disclosure is 

restricted by statute. Certain other 

material, such as copyrighted material, 

is not placed on the Internet and will be 

publicly available only in hard copy 

form. Publicly available docket 

materials are available either 

electronically through http:// 

www.regulations.gov or in hard copy at 

the Office of Ecosystem Protection, U.S. 

Environmental Protection Agency, EPA 

New England Regional Office, One 

Congress Street, Suite 1100, Boston, 

MA. EPA requests that if at all possible, 

you contact the contact listed in the FOR

FURTHER INFORMATION CONTACT section to 

schedule your inspection. The Regional 

Office’s official hours of business are 

Monday through Friday, 8:30 a.m. to 

4:30 p.m., excluding legal holidays. 

Copies of the documents relevant to 

this action are also available for public 

inspection during normal business 

hours, by appointment at Division of Air 

Quality Control, Department of 

Environmental Protection, One Winter 

Street, 8th Floor, Boston, MA 02108. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions concerning today’s 

action, please contact Alison C. Simcox, 

Air Quality Planning Unit, U.S. 

Environmental Protection Agency, EPA 

New England Regional Office, One 

Congress Street, Suite 1100 (CAQ), 

Boston, MA 02114–2023, telephone 

number (617) 918–1684, fax number 

(617) 918–0684, e-mail 

simcox.alison@epa.gov. 

SUPPLEMENTARY INFORMATION: 

Table of Contents 

I. What Action Is EPA Taking? 

II. What Is the Regulatory History and 

General Requirements of CAIR and the 

CAIR FIPs? 

III. EPA Analysis of Massachusetts’s CAIR 

SIP Submittal 

A. State Budgets for Allowance Allocations 

B. CAIR Cap-and-Trade Programs 

C. Applicability Provisions for Non-EGU 

NOX SIP Call Sources 

D. NOX Allowance Allocations 

E. Individual Opt-in Units 

IV. Final Action. 

V. When Is This Action Effective? 

VI. Statutory and Executive Order Reviews. 

I. What Action Is EPA Taking? 

EPA is approving a revision to 

Massachusetts’s SIP, submitted on 

March 30, 2007. This SIP revision 

includes a new regulation, 310 CMR 

7.32, ‘‘Massachusetts Clean Air 

Interstate Rule,’’ and amendments to 

existing regulation 310 CMR 7.28, ‘‘NOX

Allowance Trading Program.’’ In its SIP 

revision, Massachusetts will meet CAIR 

requirements by requiring certain 

electric generating units (EGUs) to 

participate in the EPA-administered 

State CAIR cap-and-trade program 

addressing NOX ozone-season 

emissions. EPA has determined that the 

Massachusetts SIP as revised meets the 

applicable requirements of CAIR. On 

August 1, 2007, EPA proposed approval 

of the Massachusetts SIP (see 72 FR 

41970). No public comments were 

received on EPA’s notice of proposed 

rulemaking (NPR). 

As a consequence of the SIP approval, 

the Administrator of EPA will also, in 

a separate document, issue a final rule 

to withdraw the FIP concerning NOX

ozone-season emissions for 

Massachusetts. That action will delete 

and reserve 40 CFR 52.1140. The 

withdrawal of the CAIR FIP for 

Massachusetts is a conforming 

amendment that must be made once the 


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