21954 Federal Register / Vol. 61, No. 93 / Monday, May 13, 1996 / Rules and Regulations

which is incorporated by reference in 14

CFR 71.1. The Class D and E airspace

designations listed in this document

would be published subsequently in the

Order.

The Rule

This amendment to part 71 of the

Federal Aviation Regulations (14 CFR

part 71) modifies Class D and E2 and

establishes Class E4 airspace at Jackson,

TN, for the McKellar-Sipes Regional

Airport.

The FAA has determined that this

regulation only involves an established

body of technical regulations for which

frequent and routine amendments are

necessary to keep them operationally

current. It, therefore, (1) is not a

‘‘significant regulatory action’’ under

Executive Order 12866; (2) is not a

‘‘significant rule’’ under DOT

Regulatory Policies and Procedures (44

FR 11034; February 26, 1979); and (3)

does not warrant preparation of a

regulatory evaluation as the anticipated

impact is so minimal. Since this is a

routine matter that will only affect air

traffic procedures and air navigation, it

is certified that this rule will not have

a significant economic impact on a

substantial number of small entities

under the criteria of the Regulatory

Flexibility Act.

List of Subjects in 14 CFR Part 71

Airspace, Incorporation by reference,

Navigation (air).

Adoption of the Amendment

In consideration of the foregoing, the

Federal Aviation Administration

amends 14 CFR part 71 as follows:

PART 71—[AMENDED]

1. The authority citation for 14 CFR

part 71 continues to read as follows:

Authority: 49 U.S.C. 106(g); 40103, 40113,

40120; EO 10854, 24 FR 9565, 3 CFR, 1959–

1963 Comp., p. 389; 14 CFR 11.69.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of Federal Aviation

Administration Order 7400.9C, Airspace

Designations and Reporting Points,

dated August 17, 1995, and effective

September 16, 1995, is amended as

follows:

Paragraph 5000 Class D airspace.

* * * * *

ASO TN D Jackson, TN [Revised]

McKellar-Sipes Regional Airport, TN

(lat. 35°35′59′′ N, long. 88°54′56′′ W)

That airspace extending upward from the

surface to and including 2900 feet MSL

within a 4.2-mile radius of the McKellarSipes Regional Airport. This Class D airspace

area is effective during the specific days and

times established in advance by a Notice to

Airmen. The effective days and times will

thereafter be continuously published in the

Airport/Facility Directory.

* * * * *

Paragraph 6002 Class E airspace areas

designated as a surface area for an airport.

* * * * *

ASO TN E2 Jackson, TN [Revised]

McKellar-Sipes Regional Airport, TN

(lat. 35°35′59′′ N, long. 88°54′56′′ W)

Within a 4.2-mile radius of the McKellarSipes Regional Airport. This Class E airspace

area is effective during the specific days and

times established in advance by a Notice to

Airmen. The effective days and times will

thereafter be continuously published in the

Airport/Facility Directory.

* * * * *

Paragraph 6004 Class E airspace areas

designated as an extension to a Class D

surface area.

* * * * *

ASO TN E4 Jackson, TN [New]

McKellar-Sipes Regional Airport, TN

(lat. 35°35′59′′ N, long. 88°54′56′′ W)

McKellar VOR/DME

(lat. 35°36′13′′ N, long. 88°54′38′′ W)

That airspace extending upward from the

surface within 3.1 miles each side of the

McKellar VOR/DME 206° radial, extending

from the 4.2-mile radius of the McKellarSipes Regional Airport to 7 miles southwest

of the VOR/DME. This Class E airspace area

is effective during the specific days and times

established in advance by a Notice to

Airmen. The effective days and times will

thereafter be continuously published in the

Airport/Facility Directory.

* * * * *

Issued in College Park, Georgia, on April

25, 1996.

Wade T. Carpenter,

Acting Manager, Air Traffic Division,

Southern Region.

[FR Doc. 96–11931 Filed 5–10–96; 8:45 am]

BILLING CODE 4910–13–M

COMMODITY FUTURES TRADING

COMMISSION

17 CFR Parts 10 and 140

Change of Address; Change in Titles

of Office and Personnel

AGENCY: Commodity Futures Trading

Commission.

ACTION: Final rule.

SUMMARY: The Commodity Futures

Trading Commission is amending its

regulations to reflect changes in office

titles, personnel titles and address in its

regulations.

EFFECTIVE DATE: May 13, 1996.

FOR FURTHER INFORMATION CONTACT:

Stacy Yochum, Office of the Executive

Director, Commodity Futures Trading

Commission, Three Lafayette Centre,

1155 21st Street NW., Washington, DC

20581, (202) 418–5157.

SUPPLEMENTARY INFORMATION: On

October 26, 1995, the Commission

published in the Federal Register a

notice to execute certain office and

personnel name changes in Part 10. (60

FR 54801) Specifically, the changes

implemented 1984 title changes making

the Office of Hearings and Appeals part

of the Office of Proceedings and

changing the title of the Hearing Clerk

to Proceedings Clerk. The purpose of

this release is to change these titles in

section 10.102(e)(2) which was

inadvertently omitted from the previous

release. The previous release also

reflected the reassignment of the duties

of the vacant position of Chief

Administrative Law Judge to the

Director of the Office of Proceedings.

Section 10.84(b) was inadvertently

omitted in the previous release.

In addition, the Commission’s Office

of Personnel has changed its name to

the Office of Human Resources. The

Director of the Office of Human

Resources serves as the Commission’s

security officer. This release changes

references in Part 140 from ‘‘Personnel

Security Officer’’ to ‘‘Security Officer’’

and from ‘‘Director of Personnel’’ to

‘‘Director of Human Resources.’’

List of Subjects in 17 CFR Parts 10 and

140

Administrative practice and

procedure, Commodity Futures Trading

Commission.

Based upon the foregoing, pursuant to

its authority contained in section

2(a)(11) of the Commodity Exchange

Act, 7 U.S.C. 4a(j), the Commission

hereby amends 17 CFR Chapter I of the

Code of Federal Regulations as follows:

PART 10—[AMENDED]

1. The authority for part 10 continues

to read as follows:

Authority: Pub. L. 93–463, sec. 101(a)(11),

88 Stat. 1391; 7 U.S.C. 4a(j), unless otherwise

noted.

§ 10.84 [Amended]

2. Section 10.84, paragraph (b) is

amended by removing ‘‘Chief

Administrative Law Judge’’ and adding

in its place ‘‘Director of the Office of

Proceedings.’’

§ 10.102 [Amended]

3. Section 10.102, paragraph (e)(2) is

amended by removing ‘‘Office of

Hearings and Appeals’’ and adding

‘‘Office of Proceedings’’ in its place and
Federal Register / Vol. 61, No. 93 / Monday, May 13, 1996 / Rules and Regulations 21955

by removing ‘‘Hearing Clerk’’ and

adding ‘‘Proceedings Clerk’’ in its place.

PART 140—[AMENDED]

1. The authority citation for part 140

continues to read as follows:

7 U.S.C. 4a and 12a.

§ 140.20 [Amended]

2. Section 140.20, paragraph (a) is

amended by removing ‘‘Personnel

Security Officer’’ and adding ‘‘Security

Officer’’ in its place.

§ 140.24 [Amended]

3. Section 140.24, paragraph (a)(6) is

amended by removing ‘‘Personnel

Security Officer’’ and adding ‘‘Security

Officer’’ in its place.

§ 140.735–8 [Amended]

4. Section 140.735–8, paragraph (a)(3)

is amended by removing ‘‘Director of

Personnel’’ and adding ‘‘Director of

Human Resources’’ in its place.

5. Section 140.735–8, paragraph (c)(2)

is amended by removing ‘‘Director of

Personnel’’ and adding in its place

‘‘Director of Human Resources.’’

6. Section 140.735–8, paragraphs (e)

and (f) are amended by removing

‘‘Director of Personnel’’ and adding in

its place ‘‘Director of Human

Resources.’’

The foregoing rules shall be effective

May 13, 1996. The Commission finds

that the amendments relate solely to

agency organization, procedure or

practice and that the public procedures

and publication prior to the effective

date of the amendments, in accordance

with the Administrative Procedure Act,

as codified, 5 U.S.C. 553, are not

required.

Issued in Washington, DC, on May 6, 1996,

by the Commission.

Jean Webb,

Secretary of the Commission.

[FR Doc. 96–11923 Filed 5–10–96; 8:45 am]

BILLING CODE 6351–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8670]

RIN 1545–AU20

Revision of Section 482 Cost Sharing

Regulations

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Final regulations.

SUMMARY: This document contains final

regulations relating to qualified cost

sharing arrangements under section 482

of the Internal Revenue Code. These

regulations reflect technical changes to

the requirements for qualification as a

controlled participant under the final

cost sharing regulations published in

the Federal Register on December 20,

1995.

DATES: These regulations are effective

May 13, 1996.

These regulations are applicable for

taxable years beginning on or after

January 1, 1996.

FOR FURTHER INFORMATION CONTACT: Lisa

Sams of the Office of Associate Chief

Counsel (International), IRS (202) 622–

3840 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

Section 482 was amended by the Tax

Reform Act of 1986, Public Law 99–514,

100 Stat. 2085, 2561, et. seq. (1986–3

C.B. (Vol. 1) 1, 478). On January 30,

1992, a notice of proposed rulemaking

concerning the section 482 amendment

in the context of cost sharing was

published in the Federal Register

(INTL–0372–88, 57 FR 3571).

Written comments were received with

respect to the notice of proposed

rulemaking, and a public hearing was

held on August 31, 1992.

On December 20, 1995, final

regulations were published in the

Federal Register (INTL–0372–88, 60 FR

65553) as Treasury Decision 8632.

These final regulations amend the

regulations contained in Treasury

Decision 8632 by making technical

changes to the requirements for

qualification as a controlled participant

contained in § 1.482–7(c).

The agency has decided not to issue

a second notice of proposed rulemaking

with respect to the modifications to TD

8632 contained in these final

regulations. The rules to which the

modifications relate (concerning

qualification as a controlled participant)

were the subject of the notice of

proposed rulemaking published on

January 30, 1992, and comments on

those rules were received in connection

with those proposed regulations.

Therefore, a further comment period on

these rules is unnecessary. Taxpayers

need prompt guidance on how to

conform their arrangements to the rules

set forth in TD 8632, which is effective

for taxable years beginning on or after

January 1, 1996, and which provides a

one year transition period for amending

arrangements. The modifications

contained in these final regulations will

aid taxpayers in that regard, and any

delay caused by a second notice of

proposed rulemaking would be

impracticable and contrary to the public

interest. Unsolicited comment letters

were received in connection with TD

8632 and are available for public

inspection in the FOIA reading room.

Explanation of Provisions

The purpose of these regulations is to

rectify problems in qualifying as a

controlled participant caused by the

technical requirements of the active

conduct rule of § 1.482–7(c). This rule

provided that a controlled taxpayer may

be a controlled participant only if it uses

or reasonably expects to use covered

intangibles in the active conduct of a

trade or business.

Under the 1992 proposed cost sharing

regulations, a member of a group of

controlled taxpayers could participate

in a qualified cost sharing arrangement

on behalf of, and could satisfy the active

conduct rule based on activities

performed by, one or more other

members of the group (a cost sharing

subgroup). The participating subgroup

member would then transfer or license

the intangibles developed under the

arrangement to the nonparticipating

subgroup member(s). The proposed

regulations would have measured

benefits in such case on the basis of the

benefits of the entire subgroup from

exploiting the intangibles. TD 8632, in

streamlining the participation rules,

omitted the subgroup rules. Taxpayers

commented that the change would force

them to amend existing arrangements to

include as a participant every operating

company that predictably would be

using covered intangibles.

These regulations further streamline

the participation rules. The principal

reason for the active conduct rule was

to ensure that a controlled participant

stands to benefit from the use of covered

intangibles in a manner that can be

reliably measured. The Treasury and

Service have concluded that this

purpose can be accomplished without

the active conduct rule. No distinction

need be made based on the nature of a

participant’s use of covered intangibles,

so long as its benefits from such use

(whether from directly exploiting the

intangibles or from transferring or

licensing them to others) can be reliably

measured.

Accordingly, these regulations

eliminate the active conduct rule of

§ 1.482–7(c) as a requirement for

qualification as a controlled participant

in a qualified cost sharing arrangement.

Section 1.482–7(c)(1) of these

regulations substitutes a general rule

that a controlled taxpayer may be a

controlled participant in a cost sharing

arrangement only if it reasonably

anticipates that it will derive benefits