64910 Federal Register / Vol. 66, No. 242 / Monday, December 17, 2001 / Rules and Regulations

not have sufficient federalism

implications to warrant the preparation

of a Federalism Assessment.

The FAA has determined that this

regulation is noncontroversial and

unlikely to result in adverse or negative

comments. For the reasons discussed in

the preamble, this regulation only

involves an established body of

technical regulations for which frequent

and routine amendments are necessary

to keep them operationally current.

Therefore, this regulation—(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—DESIGNATION OF CLASS A,

CLASS B, CLASS C, CLASS D, AND

CLASS E AIRSPACE AREAS; ROUTES;

AND REPORTING POINTS

1. The authority citation for 14 CFR

part 71 continues to read as follows:

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

40120; E.O. 18054, 24 FR 9565, 3 CFR, 1959–

1963 Comp., p. 389.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of the Federal Aviation

Administration Order 7400.9J, Airspace

Designations and Reporting Points,

dated August 31, 2001, and effective

September 16, 2001, is amended as

follows:

* * * * *

Paragraph 6006 Enroute Domestic Airspace

Areas.

* * * * *

Bristol Mountains, CA [Established]

That airspace extending upward from 1200

feet above the surface bounded on the north

by V8–210, bounded on the east by V514–

538, bounded on the south by V264, bounded

on the west by V386 and V8–21–283–587,

excluding that airspace within the

Twentynine Palms, CA Class E airspace area,

the Sundance MOA, and that airspace

designated for federal airways.

Issued in Los Angeles, California, on

October 31, 2001.

Dawna J. Vicars,

Acting Manager, Air Traffic Division,

Western-Pacific Region.

[FR Doc. 01–30999 Filed 12–14–01; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Airspace Docket No. 01–AWP–23]

Revocation of Class E Surface Area at

Lompoc, CA

AGENCY: Federal Aviation

Administration (FAA), DOT.

ACTION: Direct final rule, request for

comments.

SUMMARY: This action revokes the Class

E Surface Area airspace at Lompoc

Airport in Lompoc, CA. The airport

does not meet Class E Surface Area

criteria due to inadequate radio

communications capabilities between

the Los Angeles Air Route Traffic

Control Center (ARTCC) and operators

on the airport surface at Lompoc, CA.

DATES: Effective Date: 0901 UTC

February 21, 2002. Comment date:

Comments for inclsion in the Rules

Docket must be received on or before

January 16, 2002.

ADDRESSES: Send comments on the

direct final rule in triplicate to: Federal

Aviation Administration, Attn:

Manager,Airspace Branch, AWP–520,

Docket No. 01–AWP–23, Air Traffic

Division, P.O. Box 92007, Los Angeles,

California 90009.

The official docket may be examined

in the Office of the Assistant Chief

Counsel, Western-Pacific Region,

Federal Aviation Administration, Room

6007, 15000 Aviation Boulevard,

Lawndale, California 90261.

An informal docket may also be

examined during normal business hours

at the Office of the Manager, Airspace

Branch, Air Traffic Division at the above

address.

FOR FURTHER INFORMATION CONTACT: Jeri

Carson, Air Traffic Division, Airspace

Specialist, AWP–520, Western-Pacific

Region, Federal Aviation

Administration, 15000 Aviation

Boulevard, Lawndale, California 90261,

telephone (310) 725–6611.

SUPPLEMENTARY INFORMATION: This

action revokes the Class E2 airspace

designated as a Surface Area at Lompoc

Airport in Lompoc, CA. Existing Class

E5 airspace, extending upward from 700

feet above the surface, will continue to

support instrument operations at

Lompoc Airport, and will not be

changed as a result of this action. The

intended effect of this action is to retain

only the minimum Class E airspace

required to protect instrument

operations at Lompoc Airport,

consistent with airspace criteria

contained in FAA Order 7400.2E,

Procedures for Handling Airspace

Matters. Class E airspace areas

designated as surface areas for airports

are published in Paragraph 6002 of FAA

Order 7400.9J dated August 31, 2001,

and effective September 16, 2001, which

is incorporated by reference in 14 CFR

71.1. The Class E airspace revocation

listed in this document will be

published subsequently in that Order.

The Direct Final Rule Procedure

The FAA anticipates that this

regulation will not result in adverse or

negative comment and therefore is

issuing it as a meet final rule. Unless a

written adverse or negative comment, or

a written notice of intent to submit an

adverse or negative comment is received

within the comment period, the

regulation will become effective on the

date specified above. After the close of

the comment period, the FAA will

publish a document in the Federal

Register indicating that no adverse or

negative comments were received and

confirming the date on which the final

rule will become effective. If the FAA

does receive, within the comment

period, an adverse or negative comment,

or written notice of intent to submit

such a comment, a document

withdrawing the direct final rule will be

published in the Federal Register, and

a notice of proposed rulemaking may be

published with a new comment period.

Comments Invited

Although this action is in the form of

a final rule and was not preceded by a

notice of proposed rulemaking,

comments are invited on this rule.

Interested persons are invited to

comment on this rule by submitting

such written data, views, or arguments,

as they may desire. Communications

should identify the Rules Docket

number and be submitted in triplicate to

the address specified under the caption

ADDRESSES. All communications

received on or before the closing date

for comments will be considered, and

this rule may be amended or withdrawn

in light of the comments received.

Factual information that supports the

commenter’s ideas and suggestions is

Federal Register / Vol. 66, No. 242 / Monday, December 17, 2001 / Rules and Regulations 64911

extremely helpful in evaluating the

effectiveness of this action and

determining whether additional

rulemaking action would be needed.

Comments are specifically invited on

the overall regulatory, economic,

environmental, and energy aspects of

the rule that might suggest a need to

modify the rule. All comments

submitted will be available, both before

and after the closing date for comments,

in the Rules Docket for examination by

interested persons. A report that

summarizes each FAA-public contact

concerned with the substance of this

action will be filed in the Rules Docket.

Commenters wishing the FAA to

acknowledge receipt of their comments

submitted in response to this rule must

submit a self-addressed, stamped

postcard on which the following

statement is made: ‘‘Comments to

Docket No. 01–AWP–23.’’ The postcard

will be date stamped and returned to the

commenter.

Agency Findings

The regulations adopted herein will

not have substantial direct effects on the

States, on the relationship between the

national government and the States, or

on the distribution of power and

responsibilities among the various

levels of government. Therefore, in

accordance with Executive Order 12612,

it is determined that this final rule does

not have sufficient federalism

implications to warrant the preparation

of a Federalism Assessment.

The FAA has determined that this

regulation is noncontroversial and

unlikely to result in adverse or negative

comments. For the reasons discussed in

the preamble, this regulation only

involves an established body of

technical regulations for which frequent

and routine amendments are necessary

to keep them operationally current.

Therefore, this regulation—(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—DESIGNATION OF CLASS A,

CLASS B, CLASS C, CLASS D, AND

CLASS E AIRSPACE AREAS;

AIRWAYS; ROUTES; AND REPORTING

POINTS

1. The authority citation for 14 CFR

part 71 continues to read as follows:

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

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–

1963 Comp., p. 389.

§ 71.1 [Amended]

2. The incorporation by reference in

14 CFR 71.1 of the Federal Aviation

Administration Order 7400.9J, Airspace

Designations and Reporting Points,

dated August 31, 2001, and effective

September 16, 2001, is amended as

follows:

* * * * *

Paragraph 6002 Class E Airspace Designated

as a Surface Area for an airport.

* * * * *

AWP CA E2 Lompoc, CA [Removed]

Lompoc Airport, CA

(Lat. 34°39′56′′ N, long. 120°28′00′′ W)

Within a 4.3-mile radius of Lompoc

Airport, excluding that airspace within

Restricted Areas R–2516 and R–2517. This

Class E airspace area is effective during the

specific dates and times established in

advance by a Notice to Airmen. The effective

date and time will thereafter be continuously

published in the Airport/Facility Directory.

* * * * *

Issued in Los Angeles, California, on

November 23, 2001.

Leonard A. Mobley,

Acting Manager, Air Traffic Division,

Western-Pacific Region.

[FR Doc. 01–31000 Filed 12–14–01; 8:45 am]

BILLING CODE 4910–13–M

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 301

[TD 8970]

RIN 1545–AY16

Amendment, Check the Box

Regulations

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Final regulations.

SUMMARY: This document contains final

regulations relating to elective changes

in entity classification under section

7701 of the Internal Revenue Code. The

regulations apply to subsidiary

corporations that elect to change their

classification for Federal tax purposes

from a corporation to either a

partnership or disregarded entity.

DATES: Effective Date: These regulations

are effective December 17, 2001.

FOR FURTHER INFORMATION CONTACT:

Beverly Katz, (202)622–3050 (not a tollfree number).

SUPPLEMENTARY INFORMATION:

Background

On November 29, 1999, final

regulations were published in the

Federal Register (TD 8844, 64 FR 66580

(1999–2 C.B. 661)) describing the

transactions that are deemed to occur

when an entity elects to change its

classification for Federal tax purposes.

Those regulations did not address

certain requirements of section 332 as

applied to the deemed liquidation

incident to an association’s election to

be classified as a partnership or to be

disregarded as an entity separate from

its owner. This amendment to the final

regulations addresses those

requirements.

On January 25, 2000, final regulations

were published in the Federal Register

(TD 8869, 65 FR 3843 (2000–6 I.R.B.

498)) relating to qualified subchapter S

subsidiaries (QSub). In order to permit

the deemed transaction resulting from a

QSub election to comply with the

requirement of section 332 that a plan

of liquidation has been adopted at the

time of a liquidating distribution, the

final regulations provide that a plan of

liquidation is deemed adopted

immediately before the deemed

liquidation incident to the QSub

election, unless a formal plan of

liquidation that contemplates the filing

of a QSub election is adopted on an

earlier date. The preamble to the QSub

regulations provides that Treasury and

the IRS intend to amend the section

7701 regulations regarding elective

changes in entity classification to

provide a similar rule concerning the

timing of the plan of liquidation.

Consistent with the commitment in

the preamble to the QSub regulations,

on January 17, 2001, proposed

regulations were published in the

Federal Register (REG–110659–00, 66

FR 3959 (2001–12 I.R.B. 917)) under

section 7701. No comments were

received from the public in response to

the proposed regulations. No public

hearing was requested or held. The

proposed regulations are adopted by

this Treasury decision.