Federal Register / Vol. 75, No. 165 / Thursday, August 26, 2010 / Rules and Regulations 52459 

Section 301.6103(j)(1)–1 of the 

regulations formerly permitted 

disclosure of the total number of 

documents reported on Form 1096 

transmitting Forms 1099–MISC and the 

total amount reported on Form 1096 

transmitting Forms 1099–MISC. At the 

request of the Secretary of Commerce, 

the Treasury Department removed these 

items from the list of items of return 

information authorized to be disclosed 

(See TD 9372, 72 FR 73262 [Dec. 27, 

2007]). This removal was consistent 

with the Secretary of Commerce’s 

practice to seek revocation of 

authorizations for disclosure of return 

information no longer considered 

necessary for the structuring of censuses 

or related statistical activity. 

The Secretary of Commerce has since 

determined that these items of return 

information are necessary for the 

structuring of census and conducting 

related statistical activities authorized 

by law because these items provide 

critical data about contract labor that is 

needed to estimate total employment 

and payroll in the United States. The 

employment and compensation data 

compiled by the Census Bureau are 

important to analysts and policy makers 

in both the public and private sectors. 

The Secretary of Commerce asserts that, 

because of the strong need for this data 

in order to accurately reflect total 

employment and payroll in the United 

States, good cause exists to amend 

Section 301.6103(j)(1)–1 of the 

regulations to restore the items listed in 

this section to the list of items of return 

information that may be disclosed. The 

Treasury Department and the IRS agree 

that amending existing regulations to 

permit disclosure of these items to the 

Bureau is appropriate to meet the 

analytical needs of the Bureau. 

Special Analyses 

It has been determined that this 

Treasury decision is not a significant 

regulatory action as defined in 

Executive Order 12866. Therefore, a 

regulatory assessment is not required. It 

also has been determined that section 

553(b) of the Administrative Procedures 

Act (5 U.S.C. chapter 5) does not apply 

to these regulations. For applicability of 

the Regulatory Flexibility Act, please 

refer to the cross-referenced notice of 

proposed rulemaking published 

elsewhere in this Federal Register. 

Pursuant to section 7805(f) of the Code, 

this regulation has been submitted to 

the Chief Counsel for Advocacy of the 

Small Business Administration for 

comment on its impact on small 

business. 

Drafting Information 

The principal author of these 

regulations is Melissa Segal, Office of 

the Associate Chief Counsel (Procedure 

& Administration). 

List of Subjects in 26 CFR Part 301 

Employment taxes, Estate taxes, Gift 

taxes, Income taxes, Penalties, Reporting 

and recordkeeping requirements. 

Adoption of Amendments to the 

Regulations 

■ Accordingly, 26 CFR part 301 is 

amended as follows: 

PART 301—PROCEDURE AND 

ADMINISTRATION 

■ Paragraph 1. The authority citation 

for part 301 continues to read in part as 

follows: 

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

■ Par. 2. Section 301.6103(j)(1)–1 is 

amended by adding paragraph 

(b)(3)(xxv) and revising paragraph (e) to 

read as follows: 

§ 301.6103(j)(1)–1 Disclosure of return 

information reflected on returns to officers 

and employees of the Department of 

Commerce for certain statistical purposes 

and related activities. 

* * * * * 

(b) * * * 

(3) * * * 

(xxv) From Form 6765 (when filed 

with corporation income tax returns)— 

total qualified research expenses. 

* * * * * 

(e) Effective/applicability date. 

Paragraph (b)(3)(xxv) of this section is 

applicable to disclosures to the Bureau 

of the Census on or after August 26, 

2010. 

■ Par. 3. Section 301.6103(j)(1)–1T is 

amended by: 

■ 1. Reserve paragraphs (b)(3)(xxvi) 

through (b)(3)(xxviii). 

■ 2. Adding paragraphs (b)(3)(xxix) and 

(b)(3)(xxx). 

■ 3. Revising paragraph (e). 

■ 4. Adding a sentence at the end of 

paragraph (f). 

§ 301.6103(j)(1)–1T Disclosures of return 

information reflected on returns to officers 

and employees of the Department of 

Commerce, for certain statistical purposes 

and related activities (temporary). 

* * * * * 

(b)(3)(xxvi) through (b)(3)(xxviii) 

[Reserved]. For further guidance, see 

§ 301.6103(j)(1)–1(b)(3)(xxvi) through 

(b)(3)(xxviii). 

(xxix) Total number of documents 

reported on Form 1096 transmitting 

Forms 1099–MISC. 

(xxx) Total amount reported on Form 

1096 transmitting Forms 1099–MISC. 

* * * * * 

(e) Effective/applicability date. 

Paragraph (b)(3)(xxix) through 

(b)(3)(xxx) of this section is applicable 

to disclosures to the Bureau of the 

Census on or after August 26, 2010. 

(f) * * * The applicability of 

paragraphs (b)(3)(xxix) through 

(b)(3)(xxx) of this section expires on or 

before August 26, 2013. 

Steven T. Miller, 

Deputy Commissioner for Services and 

Enforcement. 

Approved: August 11, 2010. 

Michael Mundaca, 

Assistant Secretary of the Treasury (Tax 

Policy). 

[FR Doc. 2010–21049 Filed 8–25–10; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Fiscal Service 

31 CFR Parts 317, 351, 353, and 359 

Regulations Governing Agencies for 

Issue of United States Savings Bonds; 

Offering of United States Savings 

Bonds, Series EE; Regulations 

Governing Definitive United States 

Savings Bonds, Series EE and HH; 

Offering of United States Savings 

Bonds, Series I 

AGENCY: Bureau of the Public Debt, 

Fiscal Service, Treasury. 

ACTION: Final rule. 

SUMMARY: Treasury is discontinuing the 

issuance of definitive (paper) savings 

bonds through payroll savings plans. 

DATES: Effective Date: The amendments 

to 31 CFR 351.47 and 31 CFR 359.35 are 

effective on October 1, 2010; all other 

amendments are effective on January 1, 

2011. 

ADDRESSES: You can download this 

Final Rule at the following Internet 

addresses: http:// 

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

www.gpo.gov, or http:// 

www.regulations.gov. 

FOR FURTHER INFORMATION CONTACT: 

Elisha Whipkey, Director, Division of 

Program Administration, Office of Retail 

Securities, Bureau of the Public Debt, at 

(304) 480–6319 or 

elisha.whipkey@bpd.treas.gov. 

Ann Fowler, Attorney-Adviser, Susan 

Sharp, Attorney-Adviser, Dean Adams, 

Assistant Chief Counsel, Edward 

Gronseth, Deputy Chief Counsel, Office 

of the Chief Counsel, Bureau of the 

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52460 Federal Register / Vol. 75, No. 165 / Thursday, August 26, 2010 / Rules and Regulations 

Public Debt, at (304) 480–8692 or 

ann.fowler@bpd.treas.gov. 

SUPPLEMENTARY INFORMATION: United 

States Savings Bonds are nonmarketable Treasury securities which 

have been sold continuously since 

March 1935. Savings bonds were 

introduced as a means of encouraging 

broad public participation in 

government financing by making 

Treasury securities available in small 

denominations specially tailored to the 

small investor. Today, savings bonds 

continue to be an important savings and 

investment tool for individuals, and 

Treasury is committed to offering 

savings bonds to the public as 

efficiently as possible. 

In order to reduce costs, to increase 

the reliability and security of 

transactions by moving from paper to 

electronics, and to minimize the 

Treasury’s impact on the environment, 

Treasury is discontinuing the issuance 

of definitive (paper) savings bonds 

through payroll savings plans. Treasury 

will eliminate the option to purchase 

paper savings bonds through payroll 

deductions for United States 

government employees on October 1, 

2010, and for all other employees on 

January 1, 2011. This policy covers only 

paper savings bonds purchased through 

payroll sales; individuals will still be 

able to purchase paper savings bonds at 

financial institutions for themselves and 

as gifts. Payroll savers will be 

encouraged to continue their purchases 

through TreasuryDirect®, a web-based 

system that allows investors to buy and 

hold electronic savings bonds. 

Transitioning employees to electronic 

payroll purchases saves employers 

administrative costs and allows 

employees to manage their own savings 

bond accounts. 

Procedural Requirements 

Executive Order 12866. This rule is 

not a significant regulatory action 

pursuant to Executive Order 12866. 

Administrative Procedure Act (APA). 

Because this rule relates to United 

States securities, which are contracts 

between Treasury and the owner of the 

security, this rule falls within the 

contract exception to the APA, 5 U.S.C. 

553(a)(2). As a result, the notice, public 

comment, and delayed effective date 

provisions of the APA are inapplicable 

to this rule. 

Regulatory Flexibility Act. The 

provisions of the Regulatory Flexibility 

Act, 5 U.S.C. 601 et seq., do not apply 

to this rule because, pursuant to 5 

U.S.C. 553(a)(2), it is not required to be 

issued with notice and opportunity for 

public comment. 

Paperwork Reduction Act (PRA). 

There is no new collection of 

information contained in this final rule 

that would be subject to the PRA, 44 

U.S.C. 3501 et seq. Under the PRA, an 

agency may not conduct or sponsor, and 

a person is not required to respond to, 

a collection of information unless it 

displays a valid Office of Management 

and Budget control number. The Office 

of Management and Budget already has 

approved all collections of information 

in 31 CFR Part 353 (OMB No. 1535– 

0009, 1535–0023, 1535–0063) and Part 

359 (OMB No. 1535–0111). 

Congressional Review Act (CRA). This 

rule is not a major rule pursuant to the 

CRA, 5 U.S.C. 801 et seq., because it is 

a minor amendment that is expected to 

decrease costs for taxpayers and for 

employers; therefore, this rule is not 

expected to lead to any of the results 

listed in 5 U.S.C. 804(2). This rule may 

take immediate effect after we submit a 

copy of it to Congress and the 

Comptroller General. 

List of Subjects 

31 CFR Part 317 

Bonds, Electronic funds transfers, 

Federal Reserve System, Government 

securities, Securities. 

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. 

■ Accordingly, for the reasons set out in 

the preamble, 31 CFR Chapter II, 

Subchapter B, is amended as follows: 

PART 317—REGULATIONS 

GOVERNING AGENCIES FOR ISSUE 

OF UNITED STATES SAVINGS BONDS. 

■ 1. Revise the authority citation for part 

317 to read as follows: 

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

U.S.C. 1767; and 31 U.S.C. 3105. 

■ 2. Amend § 317.1 by revising 

paragraph (c)(2) to read as follows: 

§ 317.1 Definitions. 

* * * * * 

(c) * * * 

(2) Each organization that is 

authorized to inscribe bonds sold overthe-counter. 

* * * * * 

§ 317.2 [Amended] 

■ 3. Amend § 317.2 by removing 

paragraph (c), and redesignating 

paragraph (d) as paragraph (c). 

■ 4. Amend § 317.3(a) by revising the 

second sentence to read as follows: 

§ 317.3 Procedure for qualifying and 

serving as issuing agent. 

(a) * * * However, if an organization 

seeks qualification under § 317.2(c), it 

shall make application directly to the 

Bureau of the Public Debt for approval 

by the Commissioner of the Bureau of 

the Public Debt. * * * 

* * * * * 

■ 5. Amend § 317.7 by revising the first 

sentence to read as follows: 

§ 317.7 Obtaining and accounting for bond 

stock. 

An issuing agent that is authorized to 

inscribe bonds sold over-the-counter 

may obtain bond stock from the 

designated Federal Reserve Bank. * * * 

§ 317.8 [Amended] 

■ 6. In § 317.8, remove the Appendix to 

§ 317.8. 

PART 351—OFFERING OF UNITED 

STATES SAVINGS BONDS, SERIES EE 

■ 7. 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. 

§ 351.46 [Amended] 

■ 8. Amend § 351.46 by removing 

footnote 2. 

■ 9. Revise § 351.47 to read as follows: 

§ 351.47 May I purchase definitive Series 

EE savings bonds through a payroll 

savings plan? 

Treasury discontinued the issuance of 

definitive Series EE savings bonds 

through a payroll savings plan: 

(a) Effective October 1, 2010, for 

United States government employees, 

and 

(b) Effective January 1, 2011, for all 

other employees. 

§ 351.70 [Amended] 

■ 10. Amend § 351.70 by redesignating 

footnote 3 as footnote 2. 

PART 353—REGULATIONS 

GOVERNING DEFINITIVE UNITED 

STATES SAVINGS BONDS, SERIES EE 

AND HH 

■ 11. 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. 

■ 12. Amend § 353.6 by: 

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Federal Register / Vol. 75, No. 165 / Thursday, August 26, 2010 / Rules and Regulations 52461 

■ a. Redesignating paragraph (d) as 

paragraph (e); 

■ b. Redesignating paragraph (c) as 

paragraph (d); 

■ c. Redesignating paragraph (b)(4) as 

paragraph (c) and revising it to read as 

follows: 

§ 353.6 Restrictions on registration. 

* * * * * 

(c) Nonresident aliens. A nonresident 

alien may be designated co-owner or 

beneficiary or, on authorized reissue, 

owner, unless the nonresident alien is a 

resident of an area with respect to 

which the Department of the Treasury 

restricts or regulates the delivery of 

checks drawn against funds of the 

United States or its agencies or 

instrumentalities. See Department of the 

Treasury Circular No. 655, current 

revision (31 CFR part 211). Registration 

is not permitted in any form which 

includes the name of any alien who is 

a resident of any restricted area. 

* * * * * 

PART 359—OFFERING OF UNITED 

STATES SAVINGS BONDS, SERIES I 

■ 13. 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. 

§ 359.34 [Amended] 

■ 14. Amend § 359.34 by removing 

footnote 4. 

■ 15. Revise § 359.35 to read as follows: 

§ 359.35 May I purchase definitive Series I 

savings bonds through a payroll savings 

plan? 

Treasury discontinued the issuance of 

definitive Series I savings bonds 

through a payroll savings plan: 

(a) Effective October 1, 2010, for 

United States government employees, 

and 

(b) Effective January 1, 2011, for all 

other employees. 

§ 359.55 [Amended] 

■ 16. Amend § 359.55 by redesignating 

footnote 5 as footnote 4. 

Richard L. Gregg, 

Fiscal Assistant Secretary. 

[FR Doc. 2010–21197 Filed 8–25–10; 8:45 am] 

BILLING CODE 4810–39–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2010–0775] 

Drawbridge Operation Regulation; 

Atlantic Intracoastal Waterway, 

Wrightsville Beach, NC and Northeast 

Cape Fear River, Wilmington, NC 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of temporary deviation 

from regulations. 

SUMMARY: The Commander, Fifth Coast 

Guard District, has issued a temporary 

deviation from the regulation governing 

the operation of two North Carolina 

Department of Transportation (NCDOT) 

drawbridges: The S.R. 74 Bridge, across 

the Atlantic Intracoastal Waterway, mile 

283.1, at Wrightsville Beach, NC, and 

the Isabel S. Holmes Bridge across the 

Northeast Cape Fear River, mile 1.0, at 

Wilmington, NC. The deviation is 

necessary to accommodate distance 

races. This deviation allows the bridges 

to remain in the closed position during 

the races. 

DATES: This deviation is effective from 

7 a.m. through 11:59 p.m. on November 

13, 2010. 

ADDRESSES: Documents mentioned in 

this preamble as being available in the 

docket are part of docket USCG–2010– 

0775 and are available online by going 

to http://www.regulations.gov, inserting 

USCG–2010–0775 in the ‘‘Keyword’’ box 

and then clicking ‘‘Search’’. They are 

also available for inspection or copying 

at the Docket Management Facility (M– 

30), U.S. Department of Transportation, 

West Building Ground Floor, Room 

W12–140, 1200 New Jersey Avenue, SE., 

Washington, DC 20590, between 9 a.m. 

and 5 p.m., Monday through Friday, 

except Federal holidays. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this rule, call or 

e-mail Lindsey Middleton, Coast Guard; 

telephone 757–398–6629, e-mail 

Lindsey.R.Middleton@uscg.mil. If you 

have questions on viewing the docket, 

call Renee V. Wright, Program Manager, 

Docket Operations, telephone 202–366– 

9826. 

SUPPLEMENTARY INFORMATION: The 

Wilmington Family YMCA on behalf of 

the NCDOT requested a temporary 

deviation from the current operating 

regulations of the S.R. 74 Bridge across 

the Atlantic Intracoastal Waterway 

(AIWW), mile 283.1, at Wrightsville 

Beach and the Isabel S. Holmes Bridge 

across the Northeast Cape Fear River, 

mile 1.0, at Wilmington. The current 

operating schedules for the 

aforementioned bridges are set out in 

33 CFR 117.821(a) (4) and 33 CFR 

117.829(a) respectively. The requested 

deviation is to accommodate the Third 

Annual Beach2Battleship Iron and HalfIron distance Triathlons scheduled for 

Saturday, November 13, 2010. 

The S.R. 74 Bridge at Wrightsville 

Beach is a lift drawbridge with a vertical 

clearance of 20 feet above mean high 

water (MHW) in the closed position. 

The Isabel S. Holmes Bridge at 

Wilmington is a lift drawbridge with a 

vertical clearance of 40 feet above MHW 

in the closed position. Vessels that can 

pass under the bridge in the closed-tonavigation position can do so at any 

time. The bridge will not be able to open 

for emergencies. 

The Coast Guard will inform the users 

of the waterways through our Local and 

Broadcast Notices to Mariners of the two 

bridge closures so that vessels can 

arrange their transits to minimize any 

impact caused by the temporary 

deviation. There are no alternate routes 

available to vessel traffic. 

To facilitate the races, the 

drawbridges will be maintained in the 

closed-to-navigation position on 

November 13, 2010, at the following 

times: From 7 a.m. to 10:30 a.m. for the 

S.R. 74 Bridge and from 12 p.m. to 11:59 

p.m. for the Isabel S. Holmes Bridge. 

In accordance with 33 CFR 117.35(e), 

the drawbridge must return to its regular 

operating schedule immediately at the 

end of the designated time period. This 

deviation from the operating regulations 

is authorized under 33 CFR 117.35. 

Dated: August 12, 2010. 

Waverly W. Gregory, Jr., 

Chief, Bridge Administration Branch, Fifth 

Coast Guard District. 

[FR Doc. 2010–21300 Filed 8–25–10; 8:45 am] 

BILLING CODE 9110–04–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2010–0761] 

Drawbridge Operation Regulation; 

Pocomoke River, Snow Hill, MD 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of temporary deviation 

from regulations. 

SUMMARY: The Commander, Fifth Coast 

Guard District, has issued a temporary 

deviation from the regulations 

governing the operation of the S12 

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