Federal Register / Vol. 61, No. 120 / Thursday, June 20, 1996 / Proposed Rules 31479

interest rate hedges to all of the members of

its consolidated group. Because of the

efficiencies created by having a centralized

risk manager, group policy prohibits

members other than HC from entering into

derivative interest rate positions with outside

parties. HC regularly holds itself out as being

willing and able to, and in fact does, enter

into either side of interest rate swaps with its

fellow members. HC periodically computes

its aggregate position and hedges the net risk

with an unrelated party. HC does not

otherwise enter into interest rate positions

with persons that are not members of the

consolidated group. Because HC attempts to

operate at cost and the terms of its swaps do

not factor in any risk of default by the

affiliate, HC’s affiliates receive somewhat

more favorable terms then they would

receive from an unrelated swaps dealer.

(2) Holding. Because HC regularly holds

itself out as being willing and able to enter

into transactions enumerated in section

475(c)(1)(B), HC is a dealer in securities for

purposes of section 475(c)(1)(B) and the other

members are its customers.

* * * * *

§ 1.475 [Amended]

Par. 7. Section 1.475(c)-2, as proposed

on December 29, 1993 (58 FR 68798),

and amended on January 4, 1995 (60 FR

405), is amended as follows:

1. Paragraphs (b), (c), and (d) are

redesignated as paragraphs (c), (d), and

(b), respectively.

2. Paragraph (a) and newly designated

paragraph (c) are revised by removing

the phrase ‘‘paragraph (b)’’ each place it

appears and replacing it with

‘‘paragraph (c)’’ each place it appeared.

3. Newly designated paragraph (d) is

revised by removing the phrase

‘‘paragraphs (a)(3) and (b)’’ and

replacing it with ‘‘paragraphs (a)(3) and

(c)’’. Newly designated paragraph (d) is

further revised by removing the phrase

‘‘this paragraph (c)(1)).’’ and replacing it

with the phrase ‘‘this paragraph

(d)(1)).’’.

4. Newly designated paragraph (b) is

revised by removing the words ‘‘See

§ 1.475(b)–4(c)’’ and replacing them

with the words ‘‘See § 1.475(b)-2(c)’’.

Par. 8. Section 1.475(e)–1, as

proposed on December 29, 1993 (58 FR

68798), and amended on January 4,

1995 (60 FR 405), is revised to read as

follows:

§ 1.475(e)–1 Effective dates.

(a) Section 1.475(a)–1 (concerning

mark-to-market for debt instruments)

applies to taxable years beginning on or

after January 1, 1995.

(b) Section 1.475(a)–2 (concerning

marking a security to market upon

disposition) applies to dispositions or

terminations of ownership occurring on

or after January 4, 1995.

(c) Section 1.475(a)–3 (concerning

acquisition by a dealer of a security with

a substituted basis) applies to securities

acquired, originated, or entered into on

or after January 4, 1995.

(d) Section 1.475(b)–1 (concerning the

scope of exemptions from the mark-tomarket requirement) applies as follows:

(1) Section 1.475(b)–1(a) (concerning

securities held for investment or not

held for sale) applies to taxable years

ending on or after December 31, 1993.

(2) Except as provided elsewhere in

this paragraph (d)(2), § 1.475(b)–1(b)(1)

(concerning securities deemed

identified as held for investment)

applies to taxable years ending on or

after December 31, 1993.

(i) Section 1.475(b)–1(b)(1)(i)

(concerning equity interests issued by a

related person) applies on or after June

19, 1996. If, on June 18, 1996, a security

is subject to mark-to-market accounting

and, on June 19, 1996, § 1.475(b)–1(b)(1)

begins to apply to the security solely

because of the effective dates in this

paragraph (d)(2) (rather than because of

a change in facts), then the rules of

§ 1.475(b)–1(b)(4)(i)(A) (concerning the

prohibition against marking) apply, but

§ 1.475(b)–1(b)(4)(i)(B) (imposing a mark

to market on the day before the onset of

the prohibition) does not apply.

(ii) Section 1.475(b)–1(b)(2)

(concerning relevant relationships for

purposes of determining whether equity

interests in related persons are

prohibited from being marked to

market) applies on or after June 19,

1996.

(iii) Section 1.475(b)–1(b)(3)

(concerning certain activelytraded

securities) generally applies on or after

June 19, 1996 to securities held on or

after that date. In the case, however, of

securities described in § 1.475(b)–

1(d)(1)(i) (concerning equity interests

issued by controlled entities),

§ 1.475(b)–1(b)(3) applies on or after the

date thirty days after final regulations

on this subject are published in the

Federal Register to securities held on or

after that date. If § 1.475(b)–1(b)(1)

ceases to apply to a security by virtue

of the operation of this paragraph

(d)(2)(ii), the rules of § 1.475(b)–

1(b)(4)(ii) apply to the cessation.

(iv) Except to the extent provided in

paragraph (d)(2)(i) of this section,

§ 1.475(b)–1(b)(4) (concerning changes

in status) applies on or after June 19,

1996.

(e) Section 1.475(b)–2 (concerning the

identification requirements for

obtaining an exemption from mark-tomarket treatment) applies to

identifications made on or after January

4, 1995.

(f) Section 1.475(b)–3 (concerning

exemption of securities in certain

securitization transactions) applies to

securities acquired, originated, or

entered into on or after January 4, 1995.

(g) Section 1.475(b)–4 (concerning

transitional issues relating to

exemptions) applies to taxable years

ending on or after December 31, 1993.

(h) Section 1.475(c)–1(a) (concerning

the dealer-customer relationship),

except for § 1.475(c)–1(a)(1), (a)(2)(ii),

and (a)(3), applies to taxable years

beginning on or after January 1, 1995.

Section 1.475(c)–1(a)(2)(ii) and (a)(3)

(concerning certain aspects of the

dealer-customer relationship) apply to

taxable years beginning on or after June

20, 1996.

(i) Section 1.475(c)–1(b) (concerning

sellers of nonfinancial goods and

services) and (c) (concerning taxpayers

that purchase securities but do not sell

more than a negligible portion of the

securities) applies to taxable years

ending on or after December 31, 1993.

(j) Section 1.475(c)–1(d) (concerning

the issuance of life insurance products)

applies to taxable years beginning on or

after January 1, 1995.

(k) Section 1.475(c)–2 (concerning the

definition of security) applies to taxable

years ending on or after December 31,

1993. Note, however, that, by its terms,

§ 1.475(c)–2(a)(3) applies only to

interests or arrangements that are

acquired on or after January 4, 1995, and

that the integrated transactions to which

§ 1.475(c)–2(b) applies will exist only

after the effective date of § 1.1275–6.

(l) Section 1.475(d)–1 (concerning the

character of gain or loss) applies to

taxable years ending on or after

December 31, 1993.

Margaret Milner Richardson,

Commissioner of Internal Revenue.

[FR Doc. 96–15666 Filed 6–19–96; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF VETERANS

AFFAIRS

38 CFR Part 1

RIN 2900–AI21

Disinterments in National Cemeteries

AGENCY: Department of Veterans Affairs.

ACTION: Proposed rule.

SUMMARY: The Department of Veterans

Affairs (VA) proposes to amend

regulations concerning disinterments

from national cemeteries. Current

regulations permit disinterment of

persons buried in a national cemetery

with the consent of immediate family

members. The definition of immediate

family members includes a surviving

spouse only if unmarried. It is proposed
31480 Federal Register / Vol. 61, No. 120 / Thursday, June 20, 1996 / Proposed Rules

to change the definition of immediate

family members for purposes of

disinterments to include a surviving

spouse regardless of whether remarried

or not. This appears to be necessary

since we believe the emotional ties of

the surviving spouse would be sufficient

to justify his or her consent as a

condition of disinterment. This

document also would make

nonsubstantive changes for purposes of

clarification.

DATES: Comments must be received on

or before August 19, 1996.

ADDRESSES: Mail written comments to:

Director, Office of Regulations

Management (02D), Department of

Veterans Affairs, 810 Vermont Ave.,

NW, Washington, DC 20420, or hand

deliver written comments to: Office of

Regulations Management, Room 1176,

801 Eye Street, NW., Washington, DC

20001. Comments should indicate that

they are submitted in response to ‘‘RIN

2900–AI21.’’ All written comments will

be available for public inspection in the

Office of Regulations Management,

Room 1176, 801 Eye Street, NW.,

Washington, DC 20001 between the

hours of 8:00 a.m. and 4:30 p.m.,

Monday through Friday (except

holidays).

FOR FURTHER INFORMATION CONTACT:

Mr. Ken Greenberg, Program Analyst,

Communications Division (402B1),

National Cemetery System, Department

of Veterans Affairs, 810 Vermont

Avenue, NW., Washington, DC 20420.

Telephone: 202–273–5179 (this is not a

toll-free number).

SUPPLEMENTARY INFORMATION: As stated

in 38 CFR 1.621, burials in VA national

cemeteries are considered permanent

and final and disinterments are

permitted only for cogent reasons.

The current regulations concerning

disinterments from national cemeteries

(38 CFR 1.621) require the written and

notarized consent of all living

immediate family members of the

decedent in order for a disinterment

request to be approved. The current

regulations, however, do not require the

notarized signature of the surviving

spouse of the deceased if the spouse has

married again.

It appears that approving a

disinterment without the consent of all

living immediate family members

including a remarried surviving spouse

does not adequately serve the needs of

veterans and their families. For

example, a spouse may die and be

buried in a national cemetery. The

surviving spouse later remarries and the

National Cemetery System (NCS)

receives a written and notarized

disinterment request from all family

members except the remarried spouse.

Under current regulations, NCS takes

action concerning the disinterment

without the remarried spouse being

notified, thereby eliminating any

opportunity to object. Furthermore, a

remarried surviving spouse may, now,

upon the termination of the remarriage,

regain eligibility for burial in a national

cemetery as the surviving spouse of an

eligible decedent. See Pub. L. No. 103–

446, section 802, 108 Stat. 4675 (1994);

38 U.S.C. 2402(5).

VA requires that disinterment

requests be executed on VA Form 40–

4970, Request for Disinterment. VA

would amend that form accordingly to

reflect the change in regulations if the

proposed rule is made final.

In addition, the second sentence of

current § 1.621(c), which states that the

Department of Veterans Affairs or

officials of the cemetery should not be

made a party to a court action regarding

disinterment, would be deleted since it

has no binding effect.

Paperwork Reduction Act

The collection of information

contained in this notice of proposed

rulemaking has been submitted to the

Office of Management and Budget for

review in accordance with the

Paperwork Reduction Act (44 U.S.C.

3504(h)). Comments on the collection of

information should be sent to the Office

of Management and Budget, Attention:

Desk Officer for the Department of

Veterans Affairs, Office of Information

and Regulatory Affairs, Washington, DC

20503, with copies to the Director,

Office of Regulations Management

(02D), Department of Veterans Affairs,

810 Vermont Avenue, NW, Washington,

DC 20420.

This collection of information

included in 38 CFR 1.621 concerns an

application for authority to disinter

remains that must be submitted on VA

Form 40–4970. It is proposed to change

the information on the form to reflect

that the written and notarized consent

of a remarried surviving spouse is

prerequisite for a disinterment from a

national cemetery.

The Department of considers

comments by the public on these

proposed collections of information in—

• Evaluating whether the proposed

collection(s) of information are

necessary for the proper performance of

the functions of the Department,

including whether the information will

have practical utility;

• Evaluating the accuracy of the

Department’s estimate of the burden of

the proposed collection(s) of

information, including the validity of

the methodology and assumptions used;

• Enhancing the quality, usefulness,

and clarity of the information to be

collected; and

• Minimizing the burden of the

collection of information on those who

are to respond, including through the

use of appropriate automated,

electronic, mechanical, or other

technological collection techniques or

other forms of information technology,

e.g., permitting electronic submission of

responses.

OMB is required to make a decision

concerning the proposed collections of

information contained in this document

between 30 and 60 days after

publication of this document in the

Federal Register. Therefore, a comment

to OMB is best assured of having its full

effect if OMB receives it within 30 days

of publication. This does not affect the

deadline for the public to comment to

the Department on the proposed

regulations.

Title: Application for a Disinterment

from a National Cemetery.

Summary of collection of information:

The Department requires an application

with approval of all immediate family

members of a decedent in order for VA

to authorize disinterment of a

decedent’s remains from a national

cemetery. The requested information is

necessary in order to obtain the

approval of a remarried surviving

spouse of a decedent for disinterment.

Previously, a remarried surviving

spouse has not been considered an

immediate family member.

Description of the need for

information and proposed use of

information: The requested information

is necessary to obtain the approval of a

remarried surviving spouse of a

decedent for disinterment from a

national cemetery.

Description of likely respondents:

Surviving remarried spouses of

decedents interred in national

cemeteries.

Estimated total annual reporting

burden: 33 hours.

Estimated annual burden per

respondent: 10 minutes.

Estimated number of respondents:

200.

Estimated annual frequency of

responses: 1.

The Secretary certifies that this

proposed rule will not have a significant

economic impact on a substantial

number of small entities as they are

defined in the Regulatory Flexibility

Act, 5 U.S.C. 601–612. Pursuant to 5

U.S.C. 605(b), the proposed amended

regulation is exempt from the initial and

final regulatory flexibility analyses

requirements of sections 603 and 604.

This certification can be made because
Federal Register / Vol. 61, No. 120 / Thursday, June 20, 1996 / Proposed Rules 31481

the amendment does not affect any

small entities. Only individual VA

beneficiaries could be directly affected.

The proposed rule is not subject to the

Office of Management and Budget

review pursuant to E.O. 12291.

Catalog of Federal Domestic Assistance

Number for programs affected by this

regulation are 64.201 and 64.202.

List of Subjects in 38 CFR Part 1

Administrative practice and

procedure, Cemeteries, Claims, Privacy,

Security.

Approved: June 11, 1996.

Jesse Brown,

Secretary of Veterans Affairs.

For the reasons set out in the

preamble, 38 CFR part 1 is proposed to

be amended as follows:

PART 1—GENERAL PROVISIONS

1. The authority citation for part 1

continues to read as follows:

Authority: 38 U.S.C. 501(a), unless

otherwise noted.

2. In § 1.621, paragraph (c) is

amended by removing the second

sentence; paragraph (d) and the

designation ‘‘[Reserved]’’ are removed;

paragraph (e) is redesignated as

paragraph (d); and paragraphs (a) and

(b)(2) are revised to read as follows:

§ 1.621 Disinterments from national

cemeteries.

(a) Interments of eligible decedents in

national cemeteries are considered

permanent and final. Disinterment will

be permitted only for cogent reasons

and with the prior written authorization

of the National Cemetery Area Office

Director or Cemetery Director

responsible for the cemetery involved.

Disinterment from a national cemetery

will be approved only when all living

immediate family members of the

decedent, and the person who initiated

the interment (whether or not he or she

is a member of the immediate family),

give their written consent, or when a

court order or State instrumentality of

competent jurisdiction directs the

disinterment. For purposes of this

section, ‘‘immediate family members’’

are defined as surviving spouse,

whether or not he or she is remarried,

all adult children of the decedent, the

appointed guardian(s) of minor

children, and the appointed guardian(s)

of the surviving spouse or of the adult

child(ren) of the decedent. If the

surviving spouse and all of the children

of the decedent are deceased, the

decedent’s parents will be considered

‘‘immediate family members.’’

(b) * * *

(1) * * *

(2) Notarized statement(s) by all living

immediate family members of the

decedent, and the person who initiated

the interment (whether or not he or she

is a member of the immediate family),

that they consent to the proposed

disinterment.

* * * * *

[FR Doc. 96–15711 Filed 6–19–96; 8:45 am]

BILLING CODE 8320–01–M

FEDERAL COMMUNICATIONS

COMMISSION

47 CFR Part 64

[CC Docket No. 96–128; FCC 96–254]

Pay Telephone Reclassification and

Compensation Provisions of the

Telecommunications Act of 1996

AGENCY: Federal Communications

Commission.

ACTION: Proposed rule.

SUMMARY: The Telecommunications Act

of 1996 directs the Commission to

promulgate new rules governing the

payphone industry. Section 276 of the

1996 Act directs the Commission,

among other things, to ensure that all

payphone owners are compensated for

calls originated on their payphones, and

to ‘‘discontinue * * * all intrastate and

interstate’’ subsidies for payphones

owned by incumbent local exchange

carriers (‘‘LECs’’). In this NPRM, the

Commission proposed rules that would

accomplish the following objectives set

forth by Congress in Section 276:

compensation for ‘‘each and every

completed intrastate and interstate call

using [a] payphone[;]’’ termination of all

subsidies for LEC payphones, including

‘‘access charge payphone service

elements[;]’’ prescription of

nonstructural safeguards for Bell

Operating Company (‘‘BOC’’)

payphones; promulgation of rules

permitting the BOCs to negotiate with

the payphone location provider about a

payphone’s presubscribed interLATA

carrier, unless the Commission finds

that such negotiations are ‘‘not in the

public interest;’’ promulgation of rules

permitting all payphone providers to

negotiate with the location provider

about a payphone’s presubscribed

intraLATA carrier; and establishment of

a class of public interest payphones to

be located ‘‘where there would

otherwise not be a payphone[.]’’ The

intended effect of this NPRM is to

propose a rule implementing Section

276 of the Communications Act of 1996.

DATES: Written comments by the public

on the Further NPRM of Proposed Rule

Making and the proposed and/or

modified information collections are

due June 27, 1996. Reply comments are

due on July 8, 1996. Written comments

by the Office of Management and

Budget (OMB) on the proposed and/or

modified information collections on or

before August 19, 1996.

ADDRESSES: In addition to filing

comments with the Secretary, a copy of

any comments on the information

collections contained herein should be

submitted to Dorothy Conway, Federal

Communications Commission, Room

234, 1919 M Street, N.W., Washington,

DC 20554, or via the Internet to

dconway@fcc.gov and to Timothy Fain,

OMB Desk Officer, 10236 NEOB, 725

17th Street NW., Washington, DC 20503

or via the Internet to fainlt@al.eop.gov.

FOR FURTHER INFORMATION CONTACT:

Michael Carowitz, Enforcement

Division, Common Carrier Bureau, (202)

418–0960. For additional information

concerning the information collections

contained in this Further Notice of

Proposed Rule Making contact Dorothy

Conway at 202–418–0217, or via the

Internet at dconway@fcc.gov.

SUPPLEMENTARY INFORMATION: This is a

summary of the Commission’s Notice of

Proposed Rule Making in CC Docket No.

96–128, adopted on June 4, 1996 and

released June 6, 1996. The full text of

the Notice of Proposed Rule Making is

available for inspection and copying

during normal business hours in the

FCC Reference Center, Room 239, 1919

M Street, N.W., Washington, D.C. The

complete text of this decision may also

be purchased from the Commission’s

duplicating contractor, International

Transcription Services, 2100 M Street,

N.W., Suite 140, Washington, D.C.

20037 (202) 857–3800. This Notice of

Proposed Rule Making contains

proposed or modified information

collections subject to the Paperwork

Reduction Act of 1995 (PRA), Public

Law 104–13. It has been submitted to

the Office of Management and Budget

(OMB) for review under Section 3507(d)

of the PRA. OMB, the general public,

and other Federal agencies are invited to

comment on the proposed or modified

information collections contained in

this proceeding.

Paperwork Reduction Act

This NPRM contains eight proposed

or modified information collections.

The Commission, as part of its

continuing effort to reduce paperwork

burdens, invites the general public and

the Office of Management and Budget

(‘‘OMB’’) to comment on the