29654 Federal Register / Vol. 61, No. 114 / Wednesday, June 12, 1996 / Rules and Regulations

§ 26.2632–1 [Corrected]

11. On page 66914, column 3,

§ 26.2632–1, paragraph (d)(1), line 3

from the top of the column, the language

‘‘706 or Form 706NA and is effective as’’

is corrected to read ‘‘706, Form 706NA

or Form 709 (filed on or before the due

date of the transferor’s estate tax return)

and is effective as’’.

§ 26.2642–2 [Corrected]

12. On page 66916, column 2,

§ 26.2642–2, paragraph (b)(3)(ii)(B), line

6, the language ‘‘date of death and the

date of’’ is corrected to read ‘‘valuation

date and the date of’’.

§ 26.2642–4 [Corrected]

13. On page 66917, column 3,

§ 26.2642–4, paragraph (a)(3), lines 5

through 9 from the top of the column,

the language ‘‘not allocated to the trust,

the applicable fraction immediately

before death is not changed, if the trust

was not subject to an ETIP at the time

GST exemption was allocated to the

trust. The denominator’’ is corrected to

read ‘‘not allocated to the trust, then,

except as provided in this paragraph

(a)(3), the applicable fraction

immediately before death is not

changed, if the trust was not subject to

an ETIP at the time GST exemption was

allocated to the trust. In any event, the

denominator’’.

14. On page 66918, column 2,

§ 26.2642–4, paragraph (b), paragraph (i)

of Example 5, the last line, the language

‘‘is .50 (1¥($100,000/$200,000 = .50)’’

is corrected to read ‘‘is .50

(1¥($100,000/$200,000))’’.

§ 26.2652–1 [Corrected]

15. On page 66918, column 3,

§ 26.2652–1, paragraph (a)(2), line 2, the

language ‘‘or gift tax. For purposes of

this section,’’ is corrected to read ‘‘or gift

tax. For purposes of this chapter,’’.

16. On page 66919, column 1,

§ 26.2652–1, paragraph (a)(2), line 3

from the top of the column, the language

‘‘2501(a). A transfer is subject to

Federal’’ is corrected to read ‘‘2501(a)

(without regard to exemptions,

exclusions, deductions, and credits). A

transfer is subject to Federal’’.

17. On page 66919, columns 1 and 2,

§ 26.2652–1, paragraph (a)(6) Example

1, last two lines in column 1 and first

line in column 2, the language ‘‘benefit

of T’s grandchild. The transfer is a

completed gift under § 25.2511–2 of this

chapter. Thus, for purposes of chapter

13, T’’ is corrected to read ‘‘benefit of

T’s grandchild. The transfer is subject to

Federal gift tax because a gift tax is

imposed under section 2501(a) (without

regard to exemptions, exclusions,

deductions, and credits). Thus, for

purposes of chapter 13, T’’.

18. On page 66919, column 2,

§ 26.2652–1, paragraph (a)(6), Example

5, lines 13 and 14, the language

‘‘transfer by T is a completed transfer

within the meaning of § 25.2511–2 of

this chapter’’ is corrected to read

‘‘transfer by T is subject to Federal gift

tax because a gift tax is imposed under

section 2501(a) (without regard to

exemptions, exclusions, deductions,

and credits)’’.

§ 26.2654–1 [Corrected]

19. On page 66921, column 2,

§ 26.2654–1, paragraph (a)(1)(ii)(A), last

line, the language ‘‘person; or’’ is

corrected to read ‘‘person; and’’.

20. On page 66922, column 2,

§ 26.2654–1, paragraph (a)(5), Example

6, line 10 from the top of the column,

the language ‘‘contribution is 3⁄4

((2⁄3×$180,000) +’’ is corrected to read

‘‘contribution is 3⁄4 (((2⁄3×$180,000) +’’.

21. On page 66922, column 2,

§ 26.2654–1, paragraph (a)(5), Example

8, line 4 from the bottom of the

paragraph, the language ‘‘same if, the

trust instrument provided that’’ is

corrected to read ‘‘same if the trust

instrument provided that’’.

22. On page 66922, column 2,

§ 26.2654–1, paragraph (b)(1)(ii)(A),

lines 1 and 2, the language ‘‘(A) The

terms of each of the new trusts provide

for the same succession of’’ is corrected

to read ‘‘(A) The terms of the new trusts

provide in the aggregate for the same

succession of’’.

23. On page 66922, column 3,

§ 26.2654–1, paragraph (b)(1)(ii)(C)(1),

line 2 from the bottom of the paragraph,

the language ‘‘measured from the date of

death to the’’ is corrected to read

‘‘measured from the valuation date to

the’’.

§ 26.2662–1 [Corrected]

24. On page 66923, column 3,

§ 26.2662–1, paragraph (c)(2)(vi),

Example 1, line 6, the language ‘‘T’s

grandchild GC, was named the sole’’ is

corrected to read ‘‘T’s grandchild, GC,

was named the sole’’.

§ 26.2663–2 [Corrected]

25. On page 66925, column 1,

§ 26.2663–2, paragraph (c)(2), the last

line, the language ‘‘the trust).’’ is

corrected to read ‘‘the trust)).’’.

26. On page 66925, column 2,

§ 26.2663–2, paragraph (d), Example 3,

line 8 from the bottom of the paragraph,

the language ‘‘Generation-Skipping

Transfer) Tax return’’ is corrected to

read ‘‘Generation-Skipping Transfer)

Tax Return’’.

27. On page 66925, column 3,

§ 26.2663–2, paragraph (e), line 11, the

language ‘‘prescribed in section 2632(c).

Thus, an’’ is corrected to read

‘‘prescribed in section 2632(c). Thus, a’’.

Cynthia E. Grigsby,

Chief, Regulations Unit, Assistant Chief

Counsel (Corporate).

[FR Doc. 96–14863 Filed 6–11–96; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR Part 117

[CGD07–95–057]

RIN 2115–AE47

Drawbridge Operation Regulations;

Atlantic Intracoastal Waterway, FL

AGENCY: Coast Guard, DOT.

ACTION: Final rule.

SUMMARY: The Coast Guard is changing

the regulations governing the operation

of the NASA Railroad bridge, mile

876.6, at Kennedy Space Center, by

removing the authorization for

automatic operation and returning the

draw to manual operation. This action

will accommodate the needs of railroad

traffic and still provide for the

reasonable needs of navigation.

EFFECTIVE DATE: July 29, 1996.

ADDRESSES: Documents are available for

inspection or copying at U.S. Coast

Guard Seventh District, Office of Aids to

Navigation, 909 S.E. 1st Avenue, Miami,

Florida 33131 between 8 a.m. and 4

p.m. EDT, Monday through Friday,

except Federal holidays.

FOR FURTHER INFORMATION CONTACT:

Mr. Walt Paskowsky, Project Manager,

Bridge Section, (305) 536–4103.

SUPPLEMENTARY INFORMATION:

Regulatory History

On February 22, 1996, the Coast

Guard published a notice of proposed

rulemaking entitled Drawbridge

Operation Regulations, Atlantic

Intracoastal Waterway, FL in the

Federal Register (61 FR 6803). The

comment period ended on April 22,

1996. The Coast Guard received no

comments on the proposal. A public

hearing was not requested and one was

not held.

Background and Purpose

The draw of the NASA railroad

bridge, mile 876.6 at Kennedy Space

Center was placed in automatic remote

controlled operation by the Florida East

Coast Railroad when it was put into

service in February 1964. Under remote
Federal Register / Vol. 61, No. 114 / Wednesday, June 12, 1996 / Rules and Regulations 29655

operation the span is normally in the

open position displaying flashing green

signals to allow the movement of water

traffic. When a train approaches the

bridge the lights go to flashing red, a

horn sounds 4 blasts, pauses, then

repeats 4 blasts. After an 8 minute

delay, the draw lowers and locks,

providing scanning equipment reveals

nothing under the span. The draw

remains down for a period of 8 minutes

or while the approach track circuit is

occupied. After the train clears, the

draw opens and the lights return to

flashing green.

The automatic remote control method

was discontinued in 1984 when

ownership of the bridge was transferred

from the Florida East Coast Railroad to

the Kennedy Space Center (NASA). The

purpose of this change is to describe in

the regulation how the bridge is actually

being operated.

Discussion of Comments and Changes

No comments were received on the

proposed rule. The final rule is therefore

unchanged from the proposed rule

published on February 22, 1996.

Regulatory Evaluation

This rule is not a significant

regulatory action under section 3(f) of

executive order 12866 and does not

require an assessment of potential costs

and benefits under section 6(a)(3) of that

order. It has not been reviewed by the

Office of Management and Budget under

that order. It is not significant under the

regulatory policies and procedures of

the Department of Transportation.

(DOT) (44 FR 11040; February 26, 1979).

The Coast Guard expects the economic

impact of this action to be so minimal

that a full Regulatory Evaluation under

paragraph 10e of the regulatory policies

and procedures of DOT is unnecessary.

Small Entities

Under the Regulatory Flexibility Act

(5 U.S.C. 601 et seq.), the Coast Guard

must consider whether this rule will

have a significant economic impact on

a substantial number of small entities.

‘‘Small entities’’ may include small

businesses and not for profit

organizations that are independently

owned and operated and are not

dominant in their field and

governmental jurisdictions with

populations of less than 50,000. Because

it expects the impact of the action to be

minimal, the Coast Guard certifies

under 5 U.S.C. 605(b) that this final rule

will not have a significant economic

impact on a substantial number of small

entities.

Collection of Information

This rule contains no collection of

information requirements under the

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

3501 et seq.)

Federalism

The Coast Guard has analyzed the

rule under the principles and criteria

contained in Executive Order 12612,

and has determined that this rule does

not have sufficient federalism

implications to warrant the preparation

of a Federalism Assessment.

Environment

The Coast Guard considered the

environmental impact of this rule and

concluded that under section

2.B.2.e.(32) of Commandant Instruction

M16475.1B, promulgation of operating

requirements or procedures for

drawbridges is categorically excluded

from further environmental

documentation. A ‘‘Categorical

Exclusion Determination’’ is available in

the docket where listed under

ADDRESSES.

List of Subjects in 33 CFR Part 117

Bridges.

Final Regulation

For the reasons set out in the

preamble, the Coast Guard amends 33

CFR Part 117 as follows:

PART 117— [AMENDED]

1. The authority citation for Part 117

continues to read as follows:

Authority: 33 U.S.C. 499; 49 CFR 1.46; 33

CFR 1.05–1(g); section 117.255 also issued

under the authority of Pub. L. 102–587, 106

Stat. 5039.

2. Section 117.261 is amended by

revising paragraph (j) to read as follows:

§ 117.261 Atlantic Intracoastal Waterway

from St. Mary’s River to Key Largo

* * * * *

(j) NASA Railroad bridge, mile 876.6

at Kennedy Space Center.

(1) The draw is not constantly tended.

(2) The draw is normally in the fully

open position displaying flashing green

lights to indicate that vessels may pass.

(3) When a train approaches the

bridge, it stops and the operator initiates

a command to lower the bridge. The

lights go to flashing red and the draw

lowers and locks, providing scanning

equipment reveals nothing under the

draw. The draw remains down until a

manual raise command is initiated, or

will raise automatically 5 minutes after

the intermediate track circuit is no

longer occupied by a rail car.

(4) After the train has cleared, the

draw opens and the lights return to

flashing green.

* * * * *

Dated: May 21, 1996.

Roger T. Rufe, Jr.,

Rear Admiral, U.S. Coast Guard, Commander,

Seventh Coast Guard District.

[FR Doc. 96–14864 Filed 6–11–96; 8:45 am]

BILLING CODE 4910–14–M

33 CFR Part 165

[CGD 05–96–038]

RIN 2115–AA97

Safety Zone; Chesapeake Bay,

Hampton Roads, Elizabeth River,

Norfolk, VA

AGENCY: Coast Guard, DOT.

ACTION: Temporary rule.

SUMMARY: The Coast Guard is

establishing a temporary safety zone

around the Nauticus National Maritime

Center Norfolk, VA. The zone is needed

to protect U.S. Coast Guard Change of

Command participant vessels and

mariners operating in the vicinity from

8 a.m. to 2 p.m. on June 14, 1996. Entry

into this zone is prohibited unless

authorized by the Captain of the Port or

his designated representative.

EFFECTIVE DATES: This regulation is

effective from 8 a.m. to 2 p.m. on June

14, 1996, unless sooner terminated by

the Captain of the Port, Hampton Roads,

Virginia.

FOR FURTHER INFORMATION CONTACT:

Chief Petty Officer John Pekich, Project

Officer, USCG Marine Safety Office

Hampton Roads, telephone number

(804) 484–8192.

SUPPLEMENTARY INFORMATION: In

accordance with 5 U.S.C. 553, a Notice

of Proposed Rule Making (NPRM) was

not published for this rule and good

cause exists for making it effective less

than 30 days after Federal Register

publication. Publishing an NPRM and

delaying its effective date would be

contrary to the public interest since

immediate action is needed to protect

the vessels involved in the Change of

Command Ceremony and other mariners

operating in the vicinity

Discussion of the Regulation

This temporary rule is issued to

protect vessels involved in Change of

Command ceremonies at the Nauticus

National Maritime Center, Norfolk, VA.

or those transiting the area on the

Elizabeth River, Norfolk, VA. Therefore,

the Coast Guard is establishing a 100

yard radius safety zone around the