17286 Federal Register / Vol. 60, No. 65 / Wednesday, April 5, 1995 / Proposed Rules

airspace included within the Abilene

Regional Airport, TX, Class C airspace area.

* * * * *

AWP CA C Santa Barbara Municipal

Airport, CA (Revised)

Santa Barbara Municipal Airport, CA

(lat. 34°25′34′′ N., long. 119°50′26′′ W.)

That airspace within a 5-mile radius of the

Santa Barbara Municipal Airport extending

upward from the surface to and including

4,000 feet MSL; and that airspace within a

10-mile radius of the airport extending

upward from 1,500 feet MSL to and

including 4,000 feet MSL, excluding that

airspace from the 295° bearing from the

airport, between the 5- and 10-mile radius,

clockwise to the 090° bearing from the

airport. This Class C airspace area is effective

during the specific dates and times

established in advance by a Notice to

Airmen. The effective date and time will

thereafter be continuously published in the

Airport/Facility Directory.

* * * * *

Paragraph 6002—Class E Airspace Areas

Designated as a Surface Area for an Airport

* * * * *

ACE IA E2 Cedar Rapids Municipal Airport,

IA (New) Cedar Rapids Municipal Airport,

IA

(lat. 41°53′05′′ N., long. 91°42′40′′ W.)

Within a 4.2-mile radius of the Cedar

Rapids Municipal Airport. This Class E

airspace area is effective during the specific

dates and times established in advance by a

Notice to Airmen. The effective date and time

will thereafter be continuously published in

the Airport/Facility Directory.

* * * * *

Issued in Washington, DC, on March 29,

1995.

Nancy B. Kalinowski,

Acting Manager, Airspace-Rules and

Aeronautical Information Division.

[FR Doc. 95–8370 Filed 4–4–95; 8:45 am]

BILLING CODE 4910–13–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[EE–12–95]

RIN 1545–AT27

Valuation of Plan Distributions

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

section of this issue of the Federal

Register, the IRS is issuing temporary

regulations that provide guidance to

employers in determining the present

value of an employee’s benefit in a

qualified defined benefit pension plan,

for purposes of determining the amount

of a distribution made in any form other

than a nondecreasing annuity payable

for a period not less than the life of the

participant or, in the case of a qualified

preretirement survivor annuity, the life

of the surviving spouse. The text of

those temporary regulations also serves

as the text of these proposed

regulations. This document also

provides notice of a public hearing on

these proposed regulations.

DATES: Written comments must be

received by July 5, 1995. Outlines of

topics to be discussed at the public

hearing scheduled for Tuesday, July 25,

1995, at 10 a.m. must be received by

July 7, 1995.

ADDRESSES: Send submissions to:

CC:DOM:CORP:T:R (EE–12–95), room

5228, Internal Revenue Service, POB

7604, Ben Franklin Station, Washington,

DC 20044. In the alternative,

submissions may be hand delivered

between the hours of 8 a.m. and 5 p.m.

to: CC:DOM:CORP:T:R (EE–12–95),

Courier’s Desk, Internal Revenue

Service, 1111 Constitution Avenue NW.,

Washington, DC. The public hearing

will be held in the Auditorium, Internal

Revenue Building, 1111 Constitution

Avenue NW., Washington, DC.

FOR FURTHER INFORMATION CONTACT:

Concerning the regulations, Linda S. F.

Marshall, (202) 622–4606; concerning

submissions and the hearing, Michael

Slaughter, (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

to section 417. The temporary

regulations provide guidance to

employers in determining the present

value of an employee’s benefit in a

qualified defined benefit pension plan.

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.

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 also has

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

Analysis 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 (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, July 25, 1995, at 10 a.m. in

the Auditorium, 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 July 5, 1995 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 July 7, 1995.

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 author of the

regulations is Linda S. F. Marshall,

Office of the Associate Chief Counsel

(Employee Benefits and Exempt

Organizations). 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 Amendments 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 is amended by adding an entry

in numerical order to read as follows:
Federal Register / Vol. 60, No. 65 / Wednesday, April 5, 1995 / Proposed Rules 17287

Authority: 26 U.S.C. 7805 * * *

Section 1.417(e)–1 also issued under 26

U.S.C. 417(e)(3)(A)(ii)(II).

§ 1.417 [Amended]

Par. 2. Paragraph (d) of § 1.417(e)–1 is

revised to read as follows:

[The text of proposed paragraph (d) is

the same as the text of § 1.417(e)–1T(d)

published elsewhere in this issue of the

Federal Register].

Margaret Milner Richardson,

Commissioner of Internal Revenue.

[FR Doc. 95–8230 Filed 4–4–95; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF TRANSPORTATION

Coast Guard

[CGD 95–029]

33 CFR Chapter I

46 CFR Chapter I

Regulatory Reinvention Public

Meetings

AGENCY: Coast Guard, DOT.

ACTION: Notice of meetings; request for

comments.

SUMMARY: As part of the President’s

Regulatory Reinvention Initiative, the

Coast Guard will conduct several public

meetings outside the Washington, DC

area. The meetings are intended to open

additional lines of communication

between the Coast Guard and the

regulated public. Each meeting will be

attended by a senior Coast Guard

official, and will be open to the public.

DATES: The meetings will be held April

11, 1995 in New York, NY; April 12,

1995 in Boston, MA; and April 21 in

Seattle, WA. Times for each meeting are

provided below under SUMMARY. Written

comments should be received by June 5,

1995.

ADDRESSES: The meetings will be held at

the following locations: New York,

NY—University of New York Maritime

College, Fort Schuyler, Throgs Neck

Station, New York; Boston, MA—Black

Falcon Passenger Terminal,

Massachusetts Port Authority, 1 Black

Falcon Ave., Boston, MA 02210; Seattle,

WA—Thirteenth Coast Guard District,

915 2nd Ave., Seattle, WA. Written

comments may be mailed to the

Executive Secretary, Marine Safety

Council, Commandant (G–LRA), U.S.

Coast Guard, 2100 Second Street SW.,

Washington, DC 20593, or may be

delivered to room 3406 at the same

address between 8 a.m. and 3 p.m.,

Monday through Friday, except Federal

holidays.

FOR FURTHER INFORMATION CONTACT:

Commander Thomas Cahill, Executive

Secretary, Marine Safety Council,

Commandant (G–LRA), U.S. Coast

Guard, 2100 Second Street SW.,

Washington, DC 20593, telephone (202)

267–0132.

SUPPLEMENTARY INFORMATION: Over the

past eighteen months, the Coast Guard

conducted a comprehensive review of

its regulatory process. This review

included meetings with members of

regulated communities and advisory

committees. Although the Coast Guard

is proud of its frequent and ongoing

interaction with the regulated

community, the need for additional

public involvement in the regulatory

process was an area specifically

identified for improvement. It is only

through keeping in touch with those

affected that the Coast Guard can truly

judge if its regulatory and compliance

efforts are effective and efficient. As a

result, the Coast Guard’s new regulatory

procedures manual requires regulatory

project managers to provide

opportunities for public involvement at

the earliest stages of a regulatory project.

Additionally, the Coast Guard’s ongoing

Maritime Regulatory Reform effort is

intended to remove unnecessary

regulatory burdens on the maritime

industry.

In his memorandum of March 4, 1995,

President Clinton directed the heads of

all Federal departments and agencies to

make regulatory reinvention a top

priority. He identified four steps to be

taken. These steps are: (1) Cut obsolete

regulations; (2) reward results, not red

tape; (3) get out of Washington and

create grassroots partnerships; and (4)

negotiate, don’t dictate. The Coast

Guard is taking a number of additional

actions to achieve the President’s goals

of reducing the regulatory burden and

improving compliance through

cooperation.

One of these actions is to conduct a

number of public meetings during the

month of April to discuss regulatory

reinvention. The meetings are intended

to allow members of the regulated

community the opportunity to talk

directly with senior Coast Guard

officials involved in the regulatory

process, and raise concerns with current

regulatory and enforcement policies.

The senior Coast Guard officials

identified below currently plan to

attend the meetings listed below. Rear

Admiral Gregory Penington, Chief of the

Office of Navigation Safety and

Waterway Services at Coast Guard

Headquarters, will attend the meeting of

the Navigation Safety Advisory Council

in Seattle, WA on April 21, 1995. This

meeting will begin at 8 a.m. Rear

Admiral James Card, Chief of the Office

of Marine Safety, Security, and

Environmental Protection at Coast

Guard Headquarters, will attend an

‘‘Industry Day’’ meeting in New York,

NY on April 11, 1995. This meeting will

begin at 9 a.m. Rear Admiral John

Shkor, Chief Counsel of the Coast Guard

and Chairman of the Marine Safety

Council, the Coast Guard’s regulatory

oversight body, will attend an ‘‘Industry

Day’’ meeting in Boston, MA on April

12, 1995. This meeting will begin at 9

a.m., with registration beginning at 8:30

a.m. The locations for these meetings

are listed above under ADDRESSES.

In addition to the above meetings, a

number of other ‘‘Industry Day’’

meetings are scheduled in Portland, OR;

Warren, RI; Valdez, AK; Cape Cod, MA;

Milwaukee, WI; Anchorage, AK;

Alameda, CA; Hampton Roads, VA;

Tampa, FL; Mobile, AL; and Agana,

Guam. These meetings will be hosted by

the local Coast Guard Captain of the

Port, and regulatory reinvention will be

a key topic. The Coast Guard Captain of

the Port for each area can provide

additional details on the date and time

for each meeting. Additionally, on April

20, 1995, the Coast Guard will hold a

public meeting in Washington, DC to

discuss regulatory reform. The details of

this meeting will be announced by a

separate notice in the Federal Register.

Persons affected by or interested in

Coast Guard regulatory actions are also

invited to submit written comments as

indicated under ADDRESSES above.

Dated: March 24, 1995.

John E. Shkor,

Rear Admiral, U.S. Coast Guard Chief

Counsel.

[FR Doc. 95–8389 Filed 4–4–95; 8:45 am]

BILLING CODE 4910–14–M

POSTAL SERVICE

39 CFR Part 232

Conduct on Postal Service Property

AGENCY: Postal Service.

ACTION: Proposed rule.

SUMMARY: This proposed rule will

amend Postal Service property

regulations by providing that when

conduct that is a violation of Federal or

State criminal law is committed on

Postal Service property, it is also a

violation of Postal Service regulations,

and that the fine and/or imprisonment

penalties of 39 CFR 232.1(p) may be

imposed for the proscribed conduct

when Federal and State prosecution of

the criminal law violation are declined.

DATES: Comments must be received on

or before May 5, 1995.