48630 Federal Register / Vol. 82, No. 201 / Thursday, October 19, 2017 / Rules and Regulations 

group’s income, deductions, gain, loss, 

basis, or other items. 

(3) Manner of making election. An 

Institution or consolidated group makes 

the election provided by this paragraph 

(c) by including a written statement as 

a part of the taxpayer’s or consolidated 

group’s first annual federal income tax 

return filed on or after October 19, 2017. 

The statement must contain the 

following legend at the top of the page: 

‘‘THIS IS AN ELECTION UNDER 

§ 1.597–7(c),’’ and must contain the 

name, address, and taxpayer 

identification number of the taxpayer or 

agent for the group making the election. 

The statement must include a 

declaration that ‘‘TAXPAYER AGREES 

TO EXTEND THE STATUTE OF 

LIMITATIONS ON ASSESSMENT FOR 

THREE YEARS FROM THE DATE OF 

THE FILING OF THIS ELECTION 

UNDER § 1.597–7(c), IF THE 

LIMITATIONS PERIOD WOULD 

EXPIRE EARLIER WITHOUT SUCH 

EXTENSION, FOR ANY ITEMS 

AFFECTED IN ANY TAXABLE YEAR 

BY THE FILING OF THIS ELECTION,’’ 

and a declaration that either 

‘‘AMENDED RETURNS WILL BE FILED 

FOR ALL TAXABLE YEARS AFFECTED 

BY THE FILING OF THIS ELECTION 

WITHIN 180 DAYS OF MAKING THIS 

STATEMENT, UNLESS SUCH 

REQUIREMENT IS WAIVED IN 

WRITING BY THE INTERNAL 

REVENUE SERVICE’’ or ‘‘ALL 

RETURNS PREVIOUSLY FILED ARE 

CONSISTENT WITH THE PROVISIONS 

OF §§ 1.597–1 THROUGH 1.597–6.’’ An 

election with respect to a consolidated 

group must be made by the agent for the 

group, not an Agency, and applies to all 

members of the group. 

Kirsten Wielobob, 

Deputy Commissioner for Services and 

Enforcement. 

Approved: August 22, 2017. 

David J. Kautter, 

Assistant Secretary for Tax Policy. 

[FR Doc. 2017–21129 Filed 10–18–17; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

38 CFR Part 8a 

RIN 2900–AP49 

Veterans’ Mortgage Life Insurance— 

Coverage Amendment 

AGENCY: Department of Veterans Affairs. 

ACTION: Final rule. 

SUMMARY: This document amends 

Department of Veterans Affairs (VA) 

regulations governing the Veterans’ 

Mortgage Life Insurance (VMLI) 

program in order to provide VMLIeligible individuals the option to lower 

their premiums by purchasing less than 

the minimum coverage amount required 

under current VA regulations. The final 

rule also amends current VA regulations 

to reflect that the statutory maximum 

amount of coverage available under the 

VMLI program was previously increased 

to $200,000, to define the term ‘‘eligible 

individual,’’ and to clarify that 

eligibility for VMLI coverage has been 

extended to include servicemembers as 

well as veterans. 

DATES: Effective October 19, 2017. 

FOR FURTHER INFORMATION CONTACT: 

Jeanne King, Department of Veterans 

Affairs Regional Office and Insurance 

Center (310/290B), 5000 Wissahickon 

Avenue, P.O. Box 8079, Philadelphia, 

PA 19101, (215) 842–2000, ext. 4839 

(this is not a toll-free number). 

SUPPLEMENTARY INFORMATION: The 

Veterans’ Mortgage Life Insurance 

(VMLI) program was established in 

1971, to provide mortgage protection 

insurance to service-disabled veterans 

who receive Specially Adapted Housing 

Grants from VA. Section 2106(g) of title 

38 of the United States Code mandates 

that the amount of VMLI in force shall 

be the amount necessary to pay the 

covered mortgage indebtedness in full, 

except as limited by section 2106(b) or 

‘‘regulations prescribed by the Secretary 

under this section.’’ Section 2106(b) 

currently limits the amount of VMLI 

available to $200,000. VA has 

prescribed a regulation to reduce the 

amount of VMLI coverage required. 

Until VA exercised this regulatory 

authority, program participants were 

required to carry an amount of 

insurance equal to the lesser of $200,000 

or the unpaid principal of their 

mortgage. This requirement caused 

some eligible individuals to forego any 

VMLI protection. Therefore, VA 

amended its regulations to permit 

program participants to carry VMLI in 

an amount less than both the $200,000 

statutory maximum and the amount 

necessary to pay the covered mortgage 

indebtedness in full. 

The comment period for the proposed 

rule ended on December 19, 2016, and 

VA received one comment. The 

commenter recommended that VA 

mandate a minimum amount of 

coverage that insureds should be 

required to purchase, in order to 

decrease the likelihood that the balance 

of the mortgage still owed after death 

would be burdensome for the insured’s 

survivors. VA believes that it is 

preferable for veterans to participate in 

the VMLI program to the extent they can 

financially, rather than potentially 

foregoing coverage entirely because they 

cannot afford the mandatory-minimum 

amount required by VA. If an eligible 

individual opts out of the program 

because the cost to carry a mandated 

minimum amount of coverage was too 

costly, his or her survivors could 

ultimately be forced to assume an even 

greater indebtedness than if the 

individual carried some VMLI coverage. 

Therefore, the final rule is being 

adopted as is without any changes, and 

provides that VMLI insureds may select 

a level of coverage that is most 

appropriate in addressing their own 

unique financial circumstances. 

The final rule amends the regulations 

to reflect that the maximum coverage 

amount is currently $200,000. It also 

provides a definition for the term 

‘‘eligible individual’’ and clarifies that 

both servicemembers and veterans are 

entitled to apply for coverage under the 

program. Additionally, the final rule 

provides for one technical change to 38 

CFR 8a.2(b)(8). 

Unfunded Mandates 

The Unfunded Mandates Reform Act 

of 1995 requires, at 2 U.S.C. 1532, that 

agencies prepare an assessment of 

anticipated costs and benefits before 

issuing any rule that may result in an 

expenditure by State, local, and tribal 

governments, in the aggregate, or by the 

private sector, of $100 million or more 

(adjusted annually for inflation) in any 

one year. This final rule would have no 

such effect on State, local, and tribal 

governments or on the private sector. 

Paperwork Reduction Act 

This final rule contains no provisions 

constituting a collection of information 

under the Paperwork Reduction Act of 

1995 (44 U.S.C. 3501–3521). 

Executive Orders 12866 and 13563 

Executive Orders 12866 and 13563 

direct agencies to assess all costs and 

benefits of available regulatory 

alternatives and, when regulation is 

necessary, to select regulatory 

approaches that maximize net benefits 

(including potential economic, 

environmental, public health and safety 

effects, and other advantages; 

distributive impacts; and equity). 

Executive Order 13563 (Improving 

Regulation and Regulatory Review) 

emphasizes the importance of 

quantifying both costs and benefits, 

reducing costs, harmonizing rules, and 

promoting flexibility. Executive Order 

12886 (Regulatory Planning and 

Review) defines a ‘‘significant 

regulatory action,’’ which requires 


rmajette on DSKBCKNHB2PROD with RULES
Federal Register / Vol. 82, No. 201 / Thursday, October 19, 2017 / Rules and Regulations 48631 

review by the Office of Management and 

Budget (OMB), unless OMB waives such 

review, as ‘‘any regulatory action that is 

likely to result in a rule that may: (1) 

Have an annual effect on the economy 

of $100 million or more or adversely 

affect in a material way the economy, a 

sector of the economy, productivity, 

competition, jobs, the environment, 

public health or safety, or State, local, 

or tribal governments or communities; 

(2) Create a serious inconsistency or 

otherwise interfere with an action taken 

or planned by another agency; (3) 

Materially alter the budgetary impact of 

entitlements, grants, user fees, or loan 

programs or the rights and obligations of 

recipients thereof; or (4) Raise novel 

legal or policy issues arising out of legal 

mandates, the President’s priorities, or 

the principles set forth in this Executive 

Order.’’ 

The economic, interagency, 

budgetary, legal, and policy 

implications of this regulatory action 

have been examined, and it has been 

determined not to be a significant 

regulatory action under Executive Order 

12866. VA’s impact analysis can be 

found as a supporting document at 

www.regulations.gov, usually within 48 

hours after the rulemaking document is 

published. Additionally, a copy of the 

rulemaking and its impact analysis are 

available on VA’s Web site at 

www.va.gov/orpm/, by following the 

link for ‘‘VA Regulations Published 

From FY 2004 Through Fiscal Year to 

Date.’’ 

Regulatory Flexibility Act 

The Secretary of Veterans Affairs 

hereby certifies that this final rule 

would 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. This final rule would directly affect 

only individuals and would not directly 

affect any small entities. Therefore, 

pursuant to 5 U.S.C. 605(b), this 

rulemaking is exempt from the initial 

and final regulatory flexibility analysis 

requirements of sections 603 and 604. 

Catalog of Federal Domestic Assistance 

The Catalog of Federal Domestic 

Assistance number and title for the 

program affected by this document is 

64.103, Life Insurance for Veterans. 

List of Subjects in 38 CFR Part 8a 

Life insurance, Mortgage insurance, 

Veterans. 

Signing Authority 

The Secretary of Veterans Affairs, or 

designee, approved this document and 

authorized the undersigned to sign and 

submit the document to the Office of the 

Federal Register for publication 

electronically as an official document of 

the Department of Veterans Affairs. Gina 

S. Farrisee, Deputy Chief of Staff, 

Department of Veterans Affairs, 

approved this document on August 24, 

2017, for publication. 

Dated: October 16, 2017. 

Michael Shores, 

Director, Office of Regulation Policy & 

Management, Office of the Secretary, 

Department of Veterans Affairs. 

For the reasons stated in the 

preamble, VA amends 38 CFR part 8a as 

set forth below: 

PART 8a—VETERANS MORTGAGE 

LIFE INSURANCE 

■ 1. The authority citation for part 8a 

continues to read as follows: 

Authority: 38 U.S.C. 501, and 2101 

through 2106, unless otherwise noted. 

■ 2. Amend § 8a.1 as follows: 

■ a. In paragraph (a), remove ‘‘veteran’’ 

each place it appears and add in its 

place ‘‘individual’’; 

■ b. In paragraph (b), remove ‘‘veterans’’ 

the second time it appears and add in 

its place ‘‘individuals’’; 

■ c. Revise paragraph (c); 

■ d. In paragraph (d) and paragraph (e) 

introductory text, remove ‘‘veteran’’ and 

add in its place ‘‘individual’’; 

■ e. Add paragraph (f); and 

■ f. Add an authority citation to the end 

of the section. 

The revision and additions read as 

follows: 

§ 8a.1 Definitions. 

* * * * * 

(c) The term initial amount of 

insurance means the amount of 

insurance selected by the insured, 

which may be less than the statutory 

maximum of $200,000 and less than the 

amount necessary to pay the mortgage 

indebtedness in full. 

* * * * * 

(f) The term eligible individual means 

a person who has been determined by 

the Secretary to be eligible for benefits 

pursuant to 38 U.S.C. chapter 21. 

(Authority: 38 U.S.C. 501, 2101, 2101A, 

2106) 

■ 3. Amend § 8a.2 as follows: 

■ a. In paragraph (a), remove ‘‘veteran’’ 

each place it appears and add in its 

place ‘‘individual’’; add ‘‘an initial 

amount of insurance’’ between 

‘‘authorized’’ and ‘‘up’’; and remove 

‘‘$90,000’’ and add in its place 

‘‘$200,000’’. 

■ b. Revise paragraph (b)(1); 

■ c. In paragraphs (b)(2) through (6), 

remove ‘‘veteran’’ each place it appears 

and add in its place ‘‘individual’’; 

■ d. In paragraph (b)(7), remove 

‘‘veterans’’ each place it appears and 

add in its place ‘‘individuals’’; 

■ e. In paragraph (b)(8), remove 

‘‘veterans’’ and add in its place 

‘‘individuals’’; remove ‘‘(date of final 

publication)’’ and add in its place 

‘‘December 24, 1987’’; and remove 

‘‘veteran’’ and add in its place 

‘‘individual’’. 

■ f. In paragraph (c), remove ‘‘veteran’’ 

and add in its place ‘‘individual’’; and 

■ g. Revise the authority citation at the 

end of section. 

The revision reads as follows: 

§ 8a.2 Maximum amount of insurance. 

* * * * * 

(b) * * * 

(1) $200,000. 

* * * * * 

(Authority: 38 U.S.C. 501, 2101, 2101A, 

2106) 

■ 4. Amend § 8a.3 as follows: 

■ a. In paragraphs (a) and (b), remove 

‘‘veteran’’ each place it appears and add 

in its place ‘‘individual’’; 

■ b. In paragraph (c), remove ‘‘a 

veteran’’ and add in its place ‘‘an 

individual’’, and remove ‘‘the veteran’’ 

each place it appears and add in its 

place ‘‘the individual’’; 

■ c. In paragraphs (d) and (e), remove 

‘‘veteran’’ each place it appears and add 

in its place ‘‘individual’’; and 

■ d. Add an authority citation to the end 

of the section. 

The addition reads as follows: 

§ 8a.3 Effective date. 

* * * * * 

(Authority: 38 U.S.C. 501, 2101, 2101A, 

2106) 

■ 5. Amend § 8a.4 as follows: 

■ a. In paragraph (b), remove ‘‘$90,000’’ 

each place it appears and add in its 

place ‘‘$200,000’’; remove ‘‘available to’’ 

each place it appears and add in its 

place ‘‘selected by’’; and remove 

‘‘veteran’’ each place it appears and add 

in its place ‘‘individual’’; 

■ b. In paragraph (c), remove ‘‘$90,000’’ 

and add in its place ‘‘$200,000’’; remove 

‘‘available to’’ and add in its place 

‘‘selected by’’; remove ‘‘eligible veteran’’ 

each place it appears and add in its 

place ‘‘eligible individual’’; and remove 

‘‘a veteran’’ and add in its place ‘‘an 

individual’’; and 

■ c. Revise the authority citation at the 

end of section. 

The revision reads as follows: 

§ 8a.4 Coverage. 

* * * * * 


rmajette on DSKBCKNHB2PROD with RULES
48632 Federal Register / Vol. 82, No. 201 / Thursday, October 19, 2017 / Rules and Regulations 

(Authority: 38 U.S.C. 501, 2101, 2101A, 

2106) 

[FR Doc. 2017–22667 Filed 10–18–17; 8:45 am] 

BILLING CODE 8320–01–P 

POSTAL REGULATORY COMMISSION 

39 CFR Part 3020 

[Docket Nos. MC2010–21 and CP2010–36] 

Update to Product Lists 

AGENCY: Postal Regulatory Commission. 

ACTION: Final rule. 

SUMMARY: The Commission is updating 

the product lists. This action reflects a 

publication policy adopted by 

Commission order. The referenced 

policy assumes periodic updates. The 

updates are identified in the body of 

this document. The product lists, which 

are re-published in its entirety, include 

these updates. 

DATES: Effective date: October 19, 2017. 

For applicability dates, see 

SUPPLEMENTARY INFORMATION. 

FOR FURTHER INFORMATION CONTACT: 

David A. Trissell, General Counsel, at 

202–789–6800. 

SUPPLEMENTARY INFORMATION: 

Applicability Dates 

July 13, 2017, Priority Mail & FirstClass Package Service Contract 47 

(MC2017–154 and CP2017–218); July 

17, 2017, Parcel Select Contract 22 

(MC2017–155 and CP2017–219); July 

19, 2017, Priority Mail Contract 332 

(MC2017–156 and CP2017–220); July 

20, 2017, Priority Mail Contract 333 

(MC2017–157 and CP2017–221); July 

20, 2017, Transferring First-Class Mail 

Parcels to the Competitive Product List 

(MC2015–7); July 24, 2017, Priority Mail 

Contract 334 (MC2017–158 and 

CP2017–222); July 31, 2017, Priority 

Mail Express, Priority Mail & First-Class 

Package Service Contract 20 (MC2017– 

159 and CP2017–223); August 7, 2017, 

Priority Mail Contract 335 (MC2017–161 

and CP2017–226); August 7, 2017, 

Priority Mail & First Class Package 

Service Contract 48 (MC2017–160 and 

CP2017–225); August 8, 2017, Priority 

Mail Contract 337 (MC2017–163 and 

CP2017–228); August 8, 2017, Priority 

Mail & First-Class Package Service 

Contract 49 (MC2017–164 and CP2017– 

229); August 14, 2017, Priority Mail 

Contract 338 (MC2017–166 and 

CP2017–246); August 14, 2017, Priority 

Mail & First-Class Package Service 

Contract 50 (MC2017–165 and CP2017– 

245); August 15, 2017, Priority Mail 

Contract 336 (MC2017–162 and 

CP2017–227); August 17, 2017, Priority 

Mail Contract 339 (MC2017–167 and 

CP2017–260); August 17, 2017, Priority 

Mail Express, Priority Mail & First-Class 

Package Service Contract 21 (MC2017– 

168 and CP2017–261); August 18, 2017, 

Priority Mail Contract 340 (MC2017–169 

and CP2017–262); August 29, 2017, 

Priority Mail Contract 341 (MC2017–171 

and CP2017–272); August 29, 2017, 

First-Class Package Service Contract 78 

(MC2017–172 and CP2017–273); August 

29, 2017, Priority Mail & Frist-Class 

Package Service Contract 51 (MC2017– 

173 and CP2017–274); August 30, 2017, 

Priority Mail Express, Priority Mail & 

First-Class Package Service Contract 22 

(MC2017–177 and CP2017–278); August 

30, 2017, Priority Mail & First-Class 

Package Service Contract 52 (MC2017– 

174 and CP2017–275); August 30, 2017, 

Priority Mail & First-Class Package 

Service Contract 53 (MC2017–175 and 

CP2017–276); August 30, 2017, Priority 

Mail Contract 342 (MC2017–176 and 

CP2017–277); August 31, 2017, Priority 

Mail Contract 343 (MC2017–178 and 

CP2017–279); August 31, 2017, Priority 

Mail Contract 344 (MC2017–179 and 

CP2017–280); September 8, 2017, 

Priority Mail Contract 345 (MC2017–180 

and CP2017–281); September 8, 2017, 

Priority Mail Contract 346 (MC2017–181 

and CP2017–282); September 8, 2017, 

Priority Mail Contract 347 (MC2017–182 

and CP2017–283); September 19, 2017, 

Priority Mail Contract 348 (MC2017–184 

and CP2017–285); September 19, 2017, 

Priority Mail Contract 349 (MC2017–185 

and CP2017–286); September 19, 2017, 

Priority Mail Contract 350 (MC2017–186 

and CP2017–287); September 19, 2017, 

Priority Mail Contract 351 (MC2017–187 

and CP2017–288); September 19, 2017, 

Priority Mail Contract 352 (MC2017–188 

and CP2017–289); September 20, 2017, 

Priority Mail & First-Class Package 

Service Contract 54 (MC2017–192 and 

CP2017–293); September 20, 2017, FirstClass Package Service Contract 79 

(MC2017–193 and CP2017–294); 

September 20, 2017, Priority Mail 

Contract 353 (MC2017–189 and 

CP2017–290); September 20, 2017, 

Priority Mail Express Contract 50 

(MC2017–190 and CP2017–291); 

September 20, 2017, Priority Mail 

Express & Priority Mail Contract 50 

(MC2017–191 and CP2017–292); 

September 21, 2017, First-Class Package 

Service Contract 80 (MC2017–194 and 

CP2017–295); September 21, 2017, 

Priority Mail & First-Class Package 

Service Contract 55 (MC2017–195 and 

CP2017–296); September 21, 2017, 

Priority Mail Contract 354 (MC2017–196 

and CP2017–297); September 21, 2017, 

Priority Mail Contract 355 (MC2017–197 

and CP2017–298); September 21, 2017, 

Priority Mail & First-Class Package 

Service Contract 56 (MC2017–198 and 

CP2017–299); September 22, 2017, 

Priority Mail Contract 356 (MC2017–199 

and CP2017–302); September 22, 2017, 

Priority Mail Contract 357 (MC2017–200 

and CP2017–303); September 22, 2017, 

Priority Mail & First-Class Package 

Service Contract 57 (MC2017–201 and 

CP2017–304); September 22, 2017, 

Priority Mail Express & Priority Mail 

Contract 51 (MC2017–202 and CP2017– 

305); September 26, 2017, First-Class 

Package Service Contract 81 (MC2017– 

203 and CP2017–310); September 27, 

2017, Global Expedited Package 

Services 8 (MC2017–183 and CP2017– 

284). 

This document identifies updates to 

the market dominant and the 

competitive product lists, which appear 

as 39 CFR Appendix A to Subpart A of 

Part 3020—Market Dominant Product 

List and 39 CFR Appendix B to Subpart 

A of Part 3020—Competitive Product 

List, respectively. Publication of the 

updated product lists in the Federal 

Register is addressed in the Postal 

Accountability and Enhancement Act 

(PAEA) of 2006. 

Authorization. The Commission 

process for periodic publication of 

updates was established in Docket Nos. 

MC2010–21 and CP2010–36, Order No. 

445, April 22, 2010, at 8. 

Changes. The product lists are being 

updated by publishing replacements in 

their entirety of 39 CFR Appendix A to 

Subpart A of Part 3020—Market 

Dominant Product List and 39 CFR 

Appendix B to Subpart A of Part 3020— 

Competitive Product List. The following 

products are being added, removed, or 

moved within the product lists: 

Market Dominant Product List 

1. Transferring First-Class Mail 

Parcels to the Competitive Product List 

(MC2015–7) (Order No. 4009), moved 

July 20, 2017. 

Competitive Product List 

1. Priority Mail & First-Class Package 

Service Contract 47 (MC2017–154 and 

CP2017–218) (Order No. 3998), added 

July 13, 2017. 

2. Parcel Select Contract 22 (MC2017– 

155 and CP2017–219) (Order No. 4004), 

added July 17, 2017. 

3. Priority Mail Contract 332 

(MC2017–156 and CP2017–220) (Order 

No. 4007), added July 19, 2017. 

4. Priority Mail Contract 333 

(MC2017–157 and CP2017–221) (Order 

No. 4008), added July 20, 2017. 

5. Transferring First-Class Mail 

Parcels to the Competitive Product List 

(MC2015–7) (Order No. 4009), moved 

July 20, 2017. 


rmajette on DSKBCKNHB2PROD with RULES