-
                                       -
                                   3,122.28
                                       -

                                    391.38
                                   -2,730.90

Source: Number of submissions Table 4-13. Hours per submission, Table 4-6

Table A- 5: Base Case and Change in Industry Burden Hours (Year 6)
                                Submission Type
                     Baseline Number of Annual Submissions
                                Baseline Burden
                  Post Exemption Number of Annual Submissions
                        Post Exemption Industry Burden
                        Total Change in Industry Burden

                           Burden per Report (Hours)
                             Total Burden (hours)

                           Burden per Report (Hours)
                             Total Burden (hours))

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       3
                                    520.38
                                   1,561.14
                                       0
                                    520.38
                                       0
                                   -1,561.14
                            MCAN  -  small business
                                       3
                                    520.38
                                   1,561.14
                                       0
                                    520.38
                                       0
                                   -1,561.14
                          TIER II  -  large business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                          TIER II  -  small business
                                       0
                                    276.38
                                       0
                                       0
                                    276.38
                                       0
                                       0
                                    TIER I
                                       0
                                     19.00
                                       0
                                       5
                                     19.00
                                     95.00
                                     95.00
                                     Total
                                       6
                                       -
                                   3,122.28
                                       6
                                       -
                                    371.38
                                   -2,750.90
                           Rule Familiarization Cost
                                     Total
                                       0
                                      20
                                       0
                                       0
                                      20
                                       0
                                       0
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                   3,122.28
                                       -

                                    371.38
                                   -2,750.90

Source: Number of submissions Table 4-13. Hours per submission, Table 4-6.

Table A- 6: Base Case and Change in Industry Burden Hours (Year 7)
                                Submission Type
                     Baseline Number of Annual Submissions
                                Baseline Burden
                  Post Exemption Number of Annual Submissions
                        Post Exemption Industry Burden
                        Total Change in Industry Burden

                           Burden per Report (Hours)
                             Total Burden (hours)

                           Burden per Report (Hours)
                             Total Burden (hours)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       4
                                    520.38
                                   2,082.52
                                       0
                                    520.38
                                       0
                                   -2,082.52
                            MCAN  -  small business
                                       3
                                    520.38
                                   1,561.14
                                       0
                                    520.38
                                       0
                                   -1,561.14
                          TIER II  -  large business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                          TIER II  -  small business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                                    TIER I
                                       0
                                     19.00
                                       0
                                       5
                                     19.00
                                     95.00
                                     95.00
                                     Total
                                       7
                                       -
                                   3,642.66
                                       7
                                       -
                                    647.76
                                   -2,994.90
                           Rule Familiarization Cost
                                     Total
                                       0
                                      20
                                       0
                                       0
                                      20
                                       0
                                       0
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                   3,643.66
                                       -

                                    647.76
                                   -2,994.90

Source: Number of submissions Table 4-13. Hours per submission, Table 4-6.

Table A- 7: Base Case and Change in Industry Burden Hours (Year 8)
                                Submission Type
                     Baseline Number of Annual Submissions
                                Baseline Burden
                  Post Exemption Number of Annual Submissions
                        Post Exemption Industry Burden
                        Total Change in Industry Burden

                           Burden per Report (Hours)
                             Total Burden (hours)

                           Burden per Report (Hours)
                             Total Burden (hours)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       4
                                    520.38
                                   2,082.52
                                       0
                                    520.38
                                       0
                                   -2,082.52
                            MCAN  -  small business
                                       4
                                    520.38
                                   2,082.52
                                       0
                                    520.38
                                       0
                                   -2,082.52
                          TIER II  -  large business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                          TIER II  -  small business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                                    TIER I
                                       0
                                     19.00
                                       0
                                       6
                                     19.00
                                    114.00
                                    114.00
                                     Total
                                       8
                                       -
                                   4,163.04
                                       8
                                       -
                                    666.76
                                   -3,496.28
                           Rule Familiarization Cost
                                     Total
                                       0
                                      20
                                       0
                                       0
                                      20
                                       0
                                       0
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                   4,163.04
                                       -

                                    666.76
                                   -3,496.28

Source: Number of submissions Table 4-13. Hours per submission, Table 4-6.

Table A- 8: Base Case and Change in Industry Burden Hours (Year 9)
                                Submission Type
                     Baseline Number of Annual Submissions
                                Baseline Burden
                  Post Exemption Number of Annual Submissions
                        Post Exemption Industry Burden
                        Total Change in Industry Burden

                           Burden per Report (Hours)
                             Total Burden (hours)

                           Burden per Report (Hours)
                             Total Burden (hours)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       5
                                    520.38
                                   2,601.90
                                       0
                                    520.38
                                       0
                                   -2,601.90
                            MCAN  -  small business
                                       4
                                    520.38
                                   2,082.52
                                       0
                                    520.38
                                       0
                                   -2,082.52
                          TIER II  -  large business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                          TIER II  -  small business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                                    TIER I
                                       0
                                     19.00
                                       0
                                       7
                                     19.00
                                    133.00
                                    133.00
                                     Total
                                       9
                                       -
                                   4,683.42
                                       9
                                       -
                                    685.76
                                   -3,997.66
                           Rule Familiarization Cost
                                     Total
                                       0
                                      20
                                       0
                                       0
                                      20
                                       0
                                       0
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                   4,683.42
                                       -

                                    685.76
                                   -3,997.66

Source: Number of submissions Table 4-13. Hours per submission, Table 4-6.

Table A- 9: Base Case and Change in Industry Burden Hours (Year 10)
                                Submission Type
                     Baseline Number of Annual Submissions
                                Baseline Burden
                  Post Exemption Number of Annual Submissions
                        Post Exemption Industry Burden
                        Total Change in Industry Burden

                           Burden per Report (Hours)
                             Total Burden (hours)

                           Burden per Report (Hours)
                             Total Burden (hours)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       5
                                    520.38
                                   2,601.90
                                       0
                                    520.38
                                       0
                                   -2,601.90
                            MCAN  -  small business
                                       4
                                    520.38
                                   2,082.52
                                       0
                                    520.38
                                       0
                                   -2,082.52
                          TIER II  -  large business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                          TIER II  -  small business
                                       0
                                    276.38
                                       0
                                       1
                                    276.38
                                    276.38
                                    276.38
                                    TIER I
                                       0
                                     19.00
                                       0
                                       7
                                     19.00
                                    133.00
                                    133.00
                                     Total
                                       9
                                       -
                                   4,683.42
                                       9
                                       -
                                    685.76
                                   -3,997.66
                           Rule Familiarization Cost
                                     Total
                                       0
                                      20
                                       0
                                       1
                                      20
                                      20
                                      20
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                   4,683.42
                                       -

                                    705.76
                                   -3,977.66

Source: Number of submissions Table 4-13. Hours per submission, Table 4-6.

.

Industry Cost
This section contains tables that derive the industry cost for years 2 through 10 of the rule. (The Year 1 cost was presented in Table 4-16.) Cost estimates are calculated following the method outlined for Year 1 in Section 4.6 of this report. This analysis assumed 23 percent of Tier I and Tier II submissions each year for T. reesei and B. amyloliquefaciens will be Tier II submissions. It assumes that there will be four new Tier I and Tier II submissions for T. reesei and B. amyloliquefaciens in year 1, and that the rate of annual submissions will grow at 10 percent per year. Table 4-18 presents the change in industry cost for all ten years. Table A- 10  through Table A- 18 present the change in industry cost for years 2 through 10.

Table A- 10: Base Case and Change in Industry Cost (Year 2)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       2
                                  $55,099.71
                                  $110,199.42
                                       0
                                  $55,099.71
                                     $0.00
                                 -$110,199.42
                            MCAN  -  small business
                                       2
                                  $41,899.71
                                  $83,799.42
                                       0
                                  $41,899.71
                                     $0.00
                                  -$83,799.42
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       0
                                  $21,631.19
                                     $0.00
                                     $0.00
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       3
                                   $1,496.60
                                   $4,489.81
                                   $4,489.81
                                     Total
                                       4
                                       -
                                  $193,998.83
                                       4
                                       -
                                  $29,881.00
                                 -$164,117.83
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       0
                                   $1,601.88
                                     $0.00
                                     $0.00
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $193,998.83
                                       -
                                       -
                                  $29,881.00
                                 -$164,117.83
Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.

Table A- 11: Base Case and Change in Industry Cost (Year 3)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       3
                                  $55,099.71
                                  $165,299.12
                                       0
                                  $55,099.71
                                     $0.00
                                 -$165,299.12
                            MCAN  -  small business
                                       2
                                  $41,899.71
                                  $83,799.42
                                       0
                                  $41,899.71
                                     $0.00
                                  -$83,799.42
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       0
                                  $21,631.19
                                     $0.00
                                     $0.00
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       4
                                   $1,496.60
                                   $5,986.42
                                   $5,986.42
                                     Total
                                       5
                                       -
                                  $249,098.54
                                       5
                                       -
                                  $31,377.61
                                 -$217,720.93
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       0
                                   $1,601.88
                                     $0.00
                                     $0.00
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $249,098.54
                                       -
                                       -
                                  $31,377.61
                                 -$217,720.93
Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.

Table A- 12: Base Case and Change in Industry Cost (Year 4)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       3
                                  $55,099.71
                                  $165,299.12
                                       0
                                  $55,099.71
                                     $0.00
                                 -$165,299.12
                            MCAN  -  small business
                                       2
                                  $41,899.71
                                  $83,799.42
                                       0
                                  $41,899.71
                                     $0.00
                                  -$83,799.42
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       0
                                  $21,631.19
                                     $0.00
                                     $0.00
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       4
                                   $1,496.60
                                   $5,986.42
                                   $5,986.42
                                     Total
                                       5
                                       -
                                  $249,098.54
                                       5
                                       -
                                  $31,377.61
                                 -$217,720.93
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       0
                                   $1,601.88
                                     $0.00
                                     $0.00
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $249,098.54
                                       -
                                       -
                                  $31,377.61
                                 -$217,720.93

Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.

Table A- 13: Base Case and Change in Industry Cost (Year 5)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       3
                                  $55,099.71
                                  $165,299.12
                                       0
                                  $55,099.71
                                     $0.00
                                 -$165,299.12
                            MCAN  -  small business
                                       3
                                  $41,899.71
                                  $125,699.12
                                       0
                                  $41,899.71
                                     $0.00
                                 -$125,699.12
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       0
                                  $21,631.19
                                     $0.00
                                     $0.00
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       5
                                   $1,496.60
                                   $7,483.02
                                   $7,483.02
                                     Total
                                       6
                                       -
                                  $290,998.25
                                       6
                                       -
                                  $32,874.21
                                 -$258,124.04
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       1
                                   $1,601.88
                                   $1,601.88
                                   $1,601.88
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $290,998.25
                                       -
                                       -
                                  $34,476.09
                                 -$256,522.15
Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.

Table A- 14: Base Case and Change in Industry Cost (Year 6)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       3
                                  $55,099.71
                                  $165,299.12
                                       0
                                  $55,099.71
                                     $0.00
                                 -$165,299.12
                            MCAN  -  small business
                                       3
                                  $41,899.71
                                  $125,699.12
                                       0
                                  $41,899.71
                                     $0.00
                                 -$125,699.12
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       0
                                  $21,631.19
                                     $0.00
                                     $0.00
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       5
                                   $1,496.60
                                   $7,483.02
                                   $7,483.02
                                     Total
                                       6
                                       -
                                  $290,998.25
                                       6
                                       -
                                  $32,874.21
                                 -$258,124.04
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       0
                                   $1,601.88
                                     $0.00
                                     $0.00
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $290,998.25
                                       -
                                       -
                                  $32,874.21
                                 -$258,124.04
Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.

Table A- 15: Base Case and Change in Industry Cost (Year 7)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       4
                                  $55,099.71
                                  $220,398.83
                                       0
                                  $55,099.71
                                     $0.00
                                 -$220,398.83
                            MCAN  -  small business
                                       3
                                  $41,899.71
                                  $125,699.12
                                       0
                                  $41,899.71
                                     $0.00
                                 -$125,699.12
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       1
                                  $21,631.19
                                  $21,631.19
                                  $21,631.19
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       5
                                   $1,496.60
                                   $7,483.02
                                   $7,483.02
                                     Total
                                       7
                                       -
                                  $346,097.96
                                       7
                                       -
                                  $54,505.41
                                 -$291,592.55
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       0
                                   $1,601.88
                                     $0.00
                                     $0.00
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $346,097.96
                                       -
                                       -
                                  $54,505.41
                                 -$291,592.55

Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.

Table A- 16: Base Case and Change in Industry Cost (Year 8)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       4
                                  $55,099.71
                                  $220,398.83
                                       0
                                  $55,099.71
                                     $0.00
                                 -$220,398.83
                            MCAN  -  small business
                                       4
                                  $41,899.71
                                  $167,598.83
                                       0
                                  $41,899.71
                                     $0.00
                                 -$167,598.83
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       1
                                  $21,631.19
                                  $21,631.19
                                  $21,631.19
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       6
                                   $1,496.60
                                   $8,979.62
                                   $8,979.62
                                     Total
                                       8
                                       -
                                  $387,997.67
                                       8
                                       -
                                  $56,002.01
                                 -$331,995.66
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       0
                                   $1,601.88
                                     $0.00
                                     $0.00
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $387,997.67
                                       -
                                       -
                                  $56,002.01
                                 -$331,995.66

Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.
Table A- 17: Base Case and Change in Industry Cost (Year 9)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       5
                                  $55,099.71
                                  $275,498.54
                                       0
                                  $55,099.71
                                     $0.00
                                 -$275,498.54
                            MCAN  -  small business
                                       4
                                  $41,899.71
                                  $167,598.83
                                       0
                                  $41,899.71
                                     $0.00
                                 -$167,598.83
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       1
                                  $21,631.19
                                  $21,631.19
                                  $21,631.19
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       7
                                   $1,496.60
                                  $10,476.23
                                  $10,476.23
                                     Total
                                       9
                                       -
                                  $443,097.37
                                       9
                                       -
                                  $57,498.61
                                 -$385,598.76
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       0
                                   $1,601.88
                                     $0.00
                                     $0.00
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $443,097.37
                                       -
                                       -
                                  $57,498.61
                                 -$385,598.76

Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.
Table A- 18: Base Case and Change in Industry Cost (Year 10)
                                Submission Type
                     Baseline Number of Annual Submissions
                                 Baseline Cost
                  Post Exemption Number of Annual Submissions
                         Post Exemption Industry Cost
                     Total Change in Industry Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                            Cost per Report ($2018)
                              Total Cost ($2018)

                         Submissions and Recordkeeping
                            MCAN  -  large business
                                       5
                                  $55,099.71
                                  $275,498.54
                                       0
                                  $55,099.71
                                     $0.00
                                 -$275,498.54
                            MCAN  -  small business
                                       4
                                  $41,899.71
                                  $167,598.83
                                       0
                                  $41,899.71
                                     $0.00
                                 -$167,598.83
                          TIER II  -  large business
                                       0
                                  $25,391.19
                                     $0.00
                                       1
                                  $25,391.19
                                  $25,391.19
                                  $25,391.19
                          TIER II  -  small business
                                       0
                                  $21,631.19
                                     $0.00
                                       1
                                  $21,631.19
                                  $21,631.19
                                  $21,631.19
                                    TIER I
                                       0
                                   $1,496.60
                                     $0.00
                                       7
                                   $1,496.60
                                  $10,476.23
                                  $10,476.23
                                     Total
                                       9
                                       -
                                  $443,097.37
                                       9
                                       -
                                  $57,498.61
                                 -$385,598.76
                           Rule Familiarization Cost
                                     Total
                                       0
                                   $1,601.88
                                     $0.00
                                       1
                                   $1,601.88
                                   $1,601.88
                                   $1,601.88
                              Total Industry Cost
                                     Total
                                       -
                                       -
                                  $443,097.37
                                       -
                                       -
                                  $59,100.50
                                 -$383,996.88

Source: Table 4-13 contains the number of MCAN, Tier I, and Tier II submissions. Table 4-7 contains the cost per MCAN, Tier I, and Tier II submission. Table 4-14 contains the total industry rule familiarization cost. Rule case assumes 4 different submitters at 20 hours/organization. Values may not sum due to rounding.

Manufacturing and Substitute Information for Cellulosic and Corn-Based Ethanol
This appendix briefly discusses the manufacturing and use of T. reesei in cellulosic and corn-based ethanol, as well as the commercial substitutes for ethanol from both corn and cellulosic biomass.
Corn-Based Ethanol Manufacturing
Corn-based ethanol is manufactured from the corn kernels, the starchy part of the corn plant. T. reesei is used in the commercial manufacturing of corn-based fuel ethanol. Fuel ethanol is mostly manufactured using a dry mill process. In the dry mill process the corn is first ground into "meal." The meal is moved into a slurry tank where it is mixed with water and other ingredients including the hydrolyzing enzyme, a thermostable alpha-amylase (Kwiatkowski et al., 2005). This enzyme has been commercially manufactured using Bacillus licheniformis (Peckous, 1999) and T. reesei (Genencor, 2008). The slurry is then liquefied using heat and the alpha-amylase enzyme, which breaks the corn starch into olosaccharides known as dextrins.
The dextrins are then moved into the saccharification tank where the glucoamylase enzymes are added to further hydrolyze the dextrins into fermentable sugars (Kwiatkowski et al., 2005). Glucoamylase enzymes used in corn-based ethanol manufacturing have been manufactured commercially using A. niger (Genencor, 2008). However, patents have been issued for the use of T. reesei in the manufacturing of the glucoamylase enzymes (Danisco Patent, 2009).
As described by Kwiatkowski et al, the slurry with glucose is then moved into the fermentation tanks where it is fermented using yeast, and creates "beer." This beer is moved into the beer column where the ethanol is recovered. In the final step, the recovered ethanol moved into a new tank where it is mixed with about 5 percent gasoline (denaturant) to create fuel ethanol (Kwiatkowski et al., 2005).
Figure 2: Simplified Corn-Based Ethanol Dry Mill Manufacturing Process
                                      5.
                       Ethanol recovery from "beer"
                                      5.
                       Ethanol recovery from "beer"
                                      1.
                                  Corn Grind
                                      1.
                                  Corn Grind
                                      2.
                      Liquefaction with Enzymes and Heat
                                      2.
                      Liquefaction with Enzymes and Heat
                                      4.
                                 Fermentation
                                      4.
                                 Fermentation
                                      3.
Saccharification
                                      3.
Saccharification
Glucoamylase enzymes from A. niger or other microbes
Alpha-amylase enzymes from B. licheniformis T. reesei, or other microbes
                                     Yeast
Glucoamylase enzymes from A. niger or other microbes
Alpha-amylase enzymes from B. licheniformis T. reesei, or other microbes
                                     Yeast

Cellulosic Ethanol Manufacturing Steps
Cellulosic ethanol is manufactured from the non-starchy portions of corn plants, such as cornstalks, and from other inedible biomass such as wood chips, sugarcane waste, and grass.
In cellulosic ethanol manufacturing, the hard cell wall of the feedstock is fermented into ethanol. The cell wall consists of chain polymers known as microfibrils. These microfibrils are composed of three main parts: (1) the hard cellulose, (2) the soft hemicellulose, and (3) irregular lignin.
Both the five-carbon sugars (pentoses) from the hemicellulose and the six-carbon sugars from the cellulose are fermented into ethanol. The lignin is discarded or used to generate steam for the ethanol process. The main steps in converting the cellulosic biomass into ethanol via biochemical manufacturing are discussed below.
The process described below is a generic process that may not apply to every situation, and some practices may be replaced by newer technologies:
   Step 1: Biomass Handling - The biomass feedstock (wood, switchgrass, cornstalks, etc.) is reduced in size for more efficient processing (DOE, 2009c).
   Step 2: Biomass Pretreatment - The biomass is then pretreated to open up the lignocellulose, making hemicellulose and cellulose more accessible to being broken down later by enzymes (Knauf and Moniruzzaman, 2004). A common process known as the dilute acid process hydrolyzes much of the hemicellulose  -- but not the cellulose -- into sugars (Knauf and Moniruzzaman, 2004).
   Step 3: Enzymatic hydrolysis - Cellulase enzymes, typically from T. reesei, catalyze the degradation of cellulose into glucose, a 6-carbon sugar. This enzymatic hydrolysis reaction is also known as cellulose saccharification (DOE, 2009c). Cellulose is made up of units of the simple sugar, glucose. A number of enzymes are needed to degrade cellulose to glucose, including endogluconases, exogluconases, cellobiohydrolases which release cellobiose (disaccharides of two glucoses) from crystalline cellulose, and beta-glucosidases (which cleave cellobiose to glucose) (Knauf and Moniruzzaman, 2004, p.148).
   Enzymes also break down the complex sugars of the hemicellulose into simple sugars. Hemicellulose from agricultural wastes such as corn stover is predominately made up of the five-carbon sugar, xylose, but also includes arabinose [five-carbon], galactose [six carbon], and mannose [six carbon]. Xylanases and other hemicellulases break down hemicellulose to xylose and other sugars. (Moller, 2006, p.11).
   Cellulase enzymes are grown in-house or purchased from a commercial enzyme company (DOE, 2009c)
   Step 4: Fermentation - After enzymatic hydrolysis, the six-carbon glucose is converted to ethanol and CO2 through fermentation. Commonly this uses a yeast, Saccharomyces cerevisiae.
   The five-carbon (pentose) sugars such as xylase that were released from hemicellulose can also be fermented to ethanol. The conventional fermentation organism, S. cerevisiae, can use only the six-carbon sugar, glucose. However, genetically modified bacteria such as Z. mobilis or E. coli or a genetically modified Saccharomyces (yeast) can ferment both five-carbon and six-carbon sugars (Knauf and Moniruzzaman, 2004; DOE, 2009a; Purdue, 2004).
   The hydrolysis of amorphous cellulose into glucose (saccharification) and fermentation to ethanol can be combined in one process (Knauf and Moniruzzaman, 2004, p.149).
   Step 5: Ethanol Recovery - The ethanol-CO2 mixture from fermentation is sent to a distiller. Impurities such as lignin and residual ligninocellulosic biomass are removed from the ethanol broth and may be used to manufacture energy for the ethanol plant. Any bacterial organisms in the ethanol are heated and killed during this process. All water is also removed from the mixture, recovering only the ethanol (DOE, 2009c).
Non-biological Alternatives for Manufacturing Cellulosic Ethanol
In addition to enzymatic hydrolysis, other methods for manufacturing cellulosic ethanol from biomass include acid hydrolysis and gasification. Acid hydrolysis uses an acid bath to break the hemicellulose and cellulose in biomass into simple xylose and glucose sugars, which are subsequently fermented into ethanol. Gasification uses wood chips as feedstock and uses pressure "to create a synthesis gas ... that is passed over a catalyst to make ethanol" (CEN, 2009). None of these technologies are currently considered cost-competitive with corn ethanol or gasoline (CEN, 2009).
Those supporting the T. reesei application asserted the following:
    [T]here simply is no viable chemical alternative to enzymes for a commercially feasible process to obtain quality saccharides in sufficient yields. Mineral acids such as hydrochloric and sulfuric acids have been tried for years, but the quality and the yields of products is simply far too low using this route to be commercially feasible. In addition, a "chemical" approach adds an environmental burden through the generation of chemical waste and the significant costs associated with disposal" (BIO and ETA, 2010, p.9).
However, as with cellulosic ethanol, it is possible that non-biological technologies could become competitive in the future. In 2007, the US Department of Energy (DOE) awarded grants to six cellulosic ethanol manufacturers to develop and test these ethanol manufacturing methods (CEN, 2009). Range Fuels, one of the grant recipients, is constructing a large-scale gasification plant for operation in 2010, and BlueFire Ethanol, another recipient, is negotiating for a permit to build an acid hydrolysis plant in the near future (CEN, 2009).
Substitutes for Fuel Ethanol
Gasoline is the fuel alternative to ethanol. Gasoline has more energy per unit than ethanol, can be transported in current pipelines, and can be used in current engines. At present gasoline is less expensive per mile, although this can change with fluctuations in gas prices. Due to its chemical makeup, ethanol cannot be transported in current pipelines nor used in conventional auto engines beyond a certain percentage of the gasoline/ethanol mix. On the other hand, ethanol provides an octane boost to gasoline. In this function, it replaces Methyl tert-Butyl Ether (MTBE), which has raised concerns when found in drinking water supplies.
From a societal viewpoint, cellulosic ethanol is thought to have environmental advantages over corn ethanol and gasoline, especially lower greenhouse gas emissions. Compared to corn ethanol, depending on the feedstock, it is also likely to use less fertilizer (see Section 5.2).
Domestic cellulosic ethanol manufacturing may decrease US dependency on foreign oil supplies. Unlike corn ethanol, the feedstocks used in cellulosic ethanol manufacturing (corncobs, or crops grown for specifically for ethanol manufacturing , such as grasses or wood) are not human food crops (DOE, 2009b), so increased demand for cellulosic ethanol feedstock may put less upward pressure on food prices. These crops may be grown on land that is unsuitable for growing other crops and it generally takes less energy to manufacture cellulosic ethanol biomass than sugar- and starch-based biomass (DOE, 2009b).


MEMORANDUM

DATE:12/17/2014
FROM: 		Laura Farris/EPA Region 8
TO:CLEAN Power Plan for Existing Power Plants; Docket Id: OAR - 2013-0602
SUBJECT:UTe Tribe Tribal Consultation held on 12/16/2014

SUMMARY:

EPA Region 8 participated in a tribal consultation with the Ute Tribe of the Uintah and Ouray Indian Reservation held on 12/16/2014 to discuss the proposed Clean Power Plan Supplemental for Existing Power Plants that was issued on October 28, 2014.

ATTENDEES:

Attendees on Behalf of the Ute Tribe
Chris Reagen
Fredericks Peebles & Morgan LLP
Louisville, CO

Ute Tribal Business Committee
Gordon Howell, Chairperson, Whiteriver Band Rep.
Phillip Chimburas, Whiteriver Band Rep.
Ronald Wopsock, Vice Chairperson, Uintah Band Rep.
Bruce Ignacio, Uintah Band Rep.
Tony Small, Uncompahgre Band Rep.
Stewart Pike, Uncompahgre Band Rep.

EPA ATTENDEES

Office of Air and Radiation
William Niebling - Senior Advisor, Office of the Assistant Administrator
Pat Childers - Indian Program Manager, OAR
Rick Vetter - Office of General Counsel
Gregory Green - Division Director, OAQPS
Laura McKelvey - Manager, OAQPS
Melanie King - CPP Team, OAQPS
Mary Johnson - CPP Team OAQPS
Toni Colón - Tribal Outreach & Consultation, OAQPS

EPA Region 8
Carl Daly - Director, Air Program
Mike Boydston - Regional Counsel
Kimberly Varilek - Regional Counsel
Alfreda Mitre- Director, Tribal Assistance Program
Randy Brown -Tribal Program Manager
Laura Farris - Climate Change Coordinator
Robert Ward  -  Regional Counsel


PAPERWORK REDUCTION ACT SUBMISSION 1. Agency/ Subagency originating request U. S. EPA/ Office of Enforcement & Compliance/ Office of Compliance 2. OMB control number b. G None a. 2060 0290 3. Type of information collection ( check one) a. G New collection b. G Revision of a currently approved collection c. X Extension of a currently approved collection d. G Reinstatement, without change, of a previously approved collection for which approval has expired e. G Reinstatement, with change, of a previously approved collection for which approval has expired f. G Existing collection in use without an OMB control number 4. Type of review requested ( check one) a. X Regular b. G Emergency  Approval requested by: / / c. G Delegated 5. Small entities Will this information collection have a significant economic impact on a substantial number of small entities? G Yes X No For b f, note item A2 of Supporting Statement Instructions 6. Requested expiration date a. X Three years from approval date b. G Other Specify: / /___

7. Title: NESHAP: Epoxy Resin and Non Nylon Polyamide Production  Subpart W 8. Agency form number( s): 1681.04 9. Keywords: Air Pollution Control, Reporting & Recordkeeping Requirements, Hazardous Air Pollutants, Epichlorohydrin 10. Abstract This ICR requires recordkeeping and periodic reporting to delegated state or local agencies. Sources are owners/ operators of facilities which produce polymers and resins from epichlorohydrin and sources which manufacture epichlorohydrin modified non nylon polyamide resins. EPA and delegated states will use the information to identify new, modified , reconstructed, or existing sources, or process changes which may affect the source's status; ensure that affected sources are meeting the standards.

11. Affected public ( Mark primary with " P" and all others that apply with " X") a. Individuals or households d. Farms b. X Business or other for profit e. Federal Government c. Not for profit institutions f. State, Local or Tribal Government 12. Obligation to respond ( Mark primary with " P" and all others that apply with " X") a. G Voluntary b. G Required to obtain or retain benefits c. X Mandatory 13. Annual reporting and recordkeeping hour burden a. Number of respondents 13 b. Total annual responses 29 1. Percentage of these responses collected electronically 0 % c. Total annual hours requested 4525 d. Current OMB inventory 4525 e. Difference 0 f. Explanation of difference 1. Program Change 2. Adjustment 0 14. Annual reporting and recordkeeping cost burden ( in thousands of dollars)

a. Total annualized capital/ startup costs 0 b. Total annual costs ( O& M) 9 c. Total annualized cost requested 9 d. Current OMB inventory 9 e. Difference 0 f. Explanation of difference 1. Program change 0 2. Adjustment 0 15. Purpose of information collection ( Mark Primary With " P" and all others that apply with " X") a. __ Application for benefits e. __ Program planning or management b. __ Program evaluation f. __ Research c. __ General purpose statistics g. _ X_ Regulatory or compliance d. __ Audit 16. Frequency of recordkeeping or reporting ( check all that apply) a. X Recordkeeping b. Q Third party disclosure c. X Reporting 1. Q On occasion 2. Q Weekly 3. Q Monthly 4. X Quarterly 5. X Semi annually 6. Q Annually 7. Q Biannually 8. Q Other ( describe)

17. Statistical methods Does this information collection employ statistical methods?

Q Yes X No 18. Agency contact ( person who can best answer questions regarding the content of this submission) Name: Sally Sasnett Phone: ( 202) 564 7074 OMB 83 I 10/ 95 19. Certification for Paperwork Reduction Act Submissions Signature of Program Office Official James R. Edward, Director Compliance Assistance & Sector Programs Division Date Signature of Senior Official or designee Oscar Morales, Director Collection Strategies Division Office of Environmental Information ( OEI) Date OMB 83 I 10/ 95


[Federal Register Volume 85, Number 67 (Tuesday, April 7, 2020)]
[Notices]
[Page 19469]
[FR Doc No: 2020-07252]

-----------------------------------------------------------------------

DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER20-1417-000]

Roundhouse Renewable Energy, LLC; Supplemental Notice that
Initial Market-Based Rate Filing Includes Request for Blanket Section
204 Authorization

    This is a supplemental notice in the above-referenced Roundhouse
Renewable Energy, LLC's application for market-based rate authority,
with an accompanying rate tariff, noting that such application includes
a request for blanket authorization, under 18 CFR part 34, of future
issuances of securities and assumptions of liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone
filing a motion to intervene or protest must serve a copy of that
document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is April 21, 2020.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically should submit an original and
5 copies of the intervention or protest to the Federal Energy
Regulatory Commission, 888 First Street NE, Washington, DC 20426.
    The filings in the above-referenced proceeding are accessible in
the Commission's eLibrary system by clicking on the appropriate link in
the above list. They are also available for electronic review in the
Commission's Public Reference Room in Washington, DC. There is an
eSubscription link on the website that enables subscribers to receive
email notification when a document is added to a subscribed docket(s).
For assistance with any FERC Online service, please email
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.

    Dated: April 1, 2020.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2020-07252 Filed 4-6-20; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 77, Number 221 (Thursday, November 15, 2012)]
[Notices]
[Pages 68185-68186]
[FR Doc No: 2012-27714]

-----------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-68181; File No. SR-CHX-2012-17]

Self-Regulatory Organizations; Chicago Stock Exchange, Inc.;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Alter Its Fee Schedule To Increase Its DEA Fees

November 8, 2012.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on November 1, 2012, the Chicago Stock Exchange, Inc. (``CHX'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II
and III below, which Items have been prepared by the Exchange. CHX has
filed the proposal pursuant to Section 19(b)(3)(A) of the Act \3\ and
Rule 19b-4(f)(2) thereunder,\4\ which renders the proposal effective
upon filing with the Commission. The Commission is publishing this
notice to solicit comments on the proposed rule change from interested
persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A).
    \4\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

I. Self-Regulatory Organization's Statement of the Terms of the
Substance of the Proposed Rule Change

    The CHX proposes to amend its Schedule of Participant Fees and
Assessments (the ``Fee Schedule''), effective November 1, 2012, to
alter its schedule of fees for Participants relating to its DEA fees
and renumber items in the Fee Schedule. The text of this proposed rule
change is available on the Exchange's Web site at http://www.chx.com/rules/proposed_rules.htm and in the Commission's Public Reference
Room, 100 F Street NE., Washington, DC 20549.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the CHX included statements
concerning the purpose of and basis for the proposed rule changes and
discussed any comments it received regarding the proposal. The text of
these statements may be examined at the places specified in Item IV
below. The CHX has prepared summaries, set forth in sections A, B and C
below, of the most significant aspects of such statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

1. Purpose
    Through this filing, the Exchange proposes to amend its Schedule of
Participant Fees and Assessments (the ``Fee Schedule''), effective
November 1, 2012, to amend its existing DEA fees and renumber items in
the Fee Schedule. This fee change is being proposed in response to the
increased importance and expense of the Exchange's regulatory efforts
and competitive pricing pressures and to ensure that the Fee Schedule's
numbering system is consistent.
    The Exchange proposes to increase its DEA fees to reflect increased
current and planned expenses related to the Exchange's regulatory
responsibilities. Currently, the Exchange's DEA fee is $1,000 per month
for each firm for which the Exchange is its DEA. Through this filing,
the Exchange proposes increasing the DEA fee to $1,200 per month. As
the Exchange participates in a highly competitive market in which
regulatory costs are continually increasing, the Exchange believes that
increasing its DEA fees will help enable the Exchange to continue to
fulfill its regulatory responsibilities.
    The Exchange also proposes to renumber certain items in its Fee
Schedule to correct the inadvertent absence of ``K'' in its numbering
system. Specifically, the Fee Schedule skipped letter ``K'' and
numbered ``J.'' to ``L.'' directly. Consequently, the Exchange proposes
to renumber items ``L.'' through ``P.'' to incorporate ``K.'' into its
numbering scheme. No other changes to these rules are being proposed at
this time.
2. Statutory Basis
    The Exchange believes that the proposed rule changes are consistent
with Section 6(b) of the Act \5\ in general, and further the objectives
of Section 6(b)(4) of the Act \6\ in particular, in that an increase
in, but still reasonable fees will be equitably allocated to
Participants for which the Exchange is the DEA. Further, the Exchange
believes the proposed changes are also consistent with Section 6(b)(1)
of the Act \7\ as the increased DEA fee will help ensure CHX has the
adequate resources to regulate its Participants and ensure their
accordance with provisions of the Exchange Act, rules thereunder, and
CHX's rules. Also, the Exchange believes that the proposed change is
reasonable because the increased fees reflect the higher regulatory
costs in the industry. Finally, the Exchange believes the change to the
Fee Schedule's numbering systems is reasonable in that it will further
clarity in the Exchange's rules and foster ease of use.
---------------------------------------------------------------------------

    \5\ 15 U.S.C. 78f.
    \6\ 15 U.S.C. 78f(b)(4).
    \7\ 15 U.S.C. 78f(b)(1).
---------------------------------------------------------------------------

B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act \8\ and subparagraph (f)(2) of Rule 19b-4
thereunder \9\ because it establishes or changes a due, fee or other
charge applicable to the Exchange's members and non-members, which
renders the proposed rule change effective upon filing.
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A)(ii).
    \9\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is necessary or
appropriate in the public interest, for the protection of investors, or
otherwise in furtherance of the purposes of the Act.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CHX-2012-17 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-CHX-2012-17. This file
number should be included on the subject line if email is used.
    To help the Commission process and review your comments more
efficiently, please use only one method. The Commission will post all
comments on the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments,
all written statements with respect to the proposed rule change that
are filed with the Commission, and all written communications relating
to the proposed rule change between the Commission and any person,
other than those that may be withheld from the public in accordance
with the provisions of 5 U.S.C. 552, will be available for Web site
viewing and printing in the Commission's Public Reference Room on
official business days between the hours of 10:00 a.m. and 3:00 p.m.
Copies of such filing also will be available for inspection and copying
at the principal offices of CHX. All comments received will be posted
without change; the Commission does not edit personal identifying
information from submissions. You should submit only information that
you wish to make available publicly. All submissions should refer to
File Number SR-CHX-2012-17, and should be submitted on or before
December 6, 2012.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\10\
---------------------------------------------------------------------------

    \10\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2012-27714 Filed 11-14-12; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 154 (Friday, August 9, 2013)]
[Notices]
[Pages 48736-48738]
[FR Doc No: 2013-19256]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-70110; File No. SR-Phlx-2013-77]

Self-Regulatory Organizations; NASDAQ OMX PHLX LLC; Notice of
Filing and Immediate Effectiveness of Proposed Rule Change To Modify
the Rule Governing Modification of Orders on NASDAQ OMX PSX in the
Event of an Issuer Corporate Action Related to a Dividend, Payment or
Distribution

August 5, 2013.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on July 22, 2013, NASDAQ OMX PHLX LLC (``Phlx'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission'') a
proposed rule change as described in Items I, II and III below, which
Items have been prepared by the Exchange. The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to modify the rule governing modification of
orders on NASDAQ OMX PSX (``PSX'') in the event of an issuer corporate
action related to a dividend, payment or distribution.
    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaqomxphlx.cchwallstreet.com/nasdaqomxphlx/phlx/,
at the principal office of the Exchange, and at the Commission's Public
Reference Room.

II. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

    In its filing with the Commission, the Exchange included statements
concerning the purpose of and basis for the proposed rule change and
discussed any comments it received on the proposed rule change. The
text of these statements may be examined at the places specified in
Item IV below. The Exchange has prepared summaries, set forth in
sections A, B, and C below, of the most significant aspects of such
statements.

A. Self-Regulatory Organization's Statement of the Purpose of, and
Statutory Basis for, the Proposed Rule Change

1. Purpose
    Phlx Rule 3311 addresses the treatment of quotes/orders in
securities that are the subject of issuer corporate actions related to
a dividend, payment or distribution. The rule applies to any trading
interest that is carried on the PSX book overnight.\4\ Phlx adopted the
rule through a recent proposed rule change.\5\ The rule provides that
in the event of any corporate action related to a dividend, payment or
distribution, Phlx will cancel open quotes/orders on the ex-date of the
action. The cancellation occurs immediately prior to the opening of
trading at 8 a.m. on the ex-date of the corporate action, and the
member receives a cancellation notice, so that it can, if it desired,
reenter the order at the commencement of trading on the ex-date.
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    \4\ Phlx notes that the use of such good-till-cancelled trading
interest is not prevalent and that the majority of quotes/orders
expire by their terms at the end of regular market hours.
    \5\ Securities Exchange Act Release No. 69632 (May 23, 2013), 78
FR 32501 (May 30, 2013) (SR-Phlx-2013-56).
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    Phlx is now proposing to implement limited, optional functionality
to allow open orders to be adjusted, rather than cancelled. The change
is responsive to member input indicating that such functionality may
assist with order management with respect to cash dividends and forward
splits, the most common type of corporate action.\6\ Under the
proposal, a member may designate that all orders with a time-in-force
of good-till-cancelled that are entered through one or more order entry
ports specified by the member will be processed in the manner specified
below.\7\
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    \6\ For other corporate actions, open orders will be cancelled,
regardless of the port through which they were entered.
    \7\ The member may opt for this processing on a port-by-port
basis, but not an order-by-order basis. Thus, the new provisions
providing for order adjustment will apply to all good-till-cancelled
orders entered through a port that has been specified by the member
for such processing.
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    (1) Cash Dividend. If an issuer is paying a cash dividend, the
price of an order to buy will be reduced by the amount of the sum of
all dividends payable, rounded up to the nearest whole cent; provided,
however, that there will be no adjustment if the sum of all dividends
is less than $0.01. For example, if the sum of all dividends is $0.381,
the price of the order will be reduced by $0.39. An order to sell will
be retained but will receive no price adjustment.
    (2) Forward Stock Split. If an issuer is implementing a forward
stock split (i.e., a stock split in which shares outstanding are
exchanged for a larger number of shares), the order will be cancelled
if its size is less than one round lot. If the order's size is greater
than one round lot, (i) the size of the order will be multiplied by the
ratio of post-split shares to pre-split shares, with the result rounded
downward to the nearest whole share, and (ii) the price of the order
will be multiplied by the ratio of pre-split shares to post-split
shares, with the result rounded down to the nearest whole penny in the
case of orders to buy and rounded up to the nearest whole penny in the
case of orders to sell. For example, if a member has entered a good-
till-cancelled order to buy 375 shares at $10.95 and the issuer
implemented a split under which each share would be exchanged for 2.25
shares, the size of the order would be adjusted to 843 shares (375 x
2.25/1 = 843.75, rounded down to 843) and the price of the order would
be adjusted to $4.86 ($10.95 x 1/2.25 = $4.8667, rounded down to
$4.86). An order to sell at the same price and size would be adjusted
to 843 shares with a price of $4.87.
    (3) Combination of Cash Dividend and Forward Stock Split. If an
issuer is implementing a cash dividend and a forward stock split on the
same date, the adjustments described above will both be applied, in the
order described in the notice of the corporate actions received by
Phlx.\8\
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    \8\ Phlx receives notice of corporate actions from the listing
exchange for the security.
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    All of the foregoing changes will be affected immediately prior to
the opening of the System at 8:00 a.m. on the ex-date of the applicable
corporate action. Open orders that are retained will be re-entered by
the System (as adjusted above) immediately prior to the opening of the
System, such that they will retain time priority over new orders
entered at or after 8:00 a.m.\9\
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    \9\ To the extent that multiple good-till-cancelled orders in a
particular security are adjusted and re-entered, such orders may not
retain the same time priority vis-[agrave]-vis one another that they
had on the preceding day. Rather, because such orders will be
entered simultaneously through multiple order entry ports, their
relative priority will be a function of the duration of system
processing associated with each individual order.
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    Phlx is also amending the language that describes corporate actions
to which Rule 3311 applies to clarify and expand the scope of the rule.
Currently, the rule refers to ``issuer corporate actions related to a
dividend, payment or distribution.'' This rule change proposes to add
text to the rule language that would make it clear that the term
``dividend'' encompasses dividends payable in stock, securities, or
both, and that the term distribution has been interpreted to include
forward or reverse stock splits.\10\ In addition, Phlx is adding
language to the rule to include symbol changes and changes in the
primary listing venue of a stock, which have not previously been
covered by Rule 3311, within the scope of corporate actions resulting
in the cancellation of good-till-cancelled orders. Phlx believes that
this change will assist market participants in managing their orders,
because the receipt of a cancellation message will alert the member to
the need to evaluate whether to reenter the cancelled order with a new
symbol or in a different trading venue.\11\
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    \10\ Cf. Securities Exchange Act Release No. 54613 (October 17,
2006), 71 FR 62325 (October 24, 2006) (SR-NASDAQ-2006-043) (similar
NASDAQ rule adopting the phrase ``dividend, payment or
distribution'' and including stock splits as an example of corporate
actions covered by the rule).
    \11\ Notably, in some instances, such as a corporate spinoff,
the old symbol may be immediately reused for a different security.
Therefore, maintaining an order with that symbol on the book could
result in the market participant maintaining an order in a stock in
which it did not wish to maintain a trading interest. Also, to the
extent that a market participant wishes to trade a security in its
listing venue, the cancellation of its open order in the event of a
change in listing venue will provide it with the opportunity to do
so.
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2. Statutory Basis
    Phlx believes that the proposed rule change is consistent with the
provisions of Section 6 of the Act,\12\ in general, and with Section
6(b)(5) of the Act \13\ in particular, in that the proposal is designed
to prevent fraudulent and manipulative acts and practices, to promote
just and equitable principles of trade, to foster cooperation and
coordination with persons engaged in regulating, clearing, settling,
processing information with respect to, and facilitating transactions
in securities, to remove impediments to and perfect the mechanism of a
free and open market and a national market system, and, in general, to
protect investors and the public interest. Specifically, Phlx believes
that the change, which is responsive to member input, will facilitate
transactions in securities and perfect the mechanism of a free and open
market by providing members with additional optional functionality that
may assist them with order management with respect to cash dividends
and forward splits, the most common type of corporate actions. The
change will also facilitate transactions in securities and perfect the
mechanism of a free and open market by assisting

market participants in managing their orders in the event of symbol
changes and changes in listing venue, by cancelling open orders and
thereby alerting members to the need to evaluate whether to reenter the
cancelled order.
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    \12\ 15 U.S.C. 78f.
    \13\ 15 U.S.C. 78f(b)(5).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    Phlx does not believe that the proposed rule change will result in
any burden on competition that is not necessary or appropriate in
furtherance of the purposes of the Act, as amended. Specifically, by
offering market participants additional options with regard to
management of open orders, the change has the potential to enhance
Phlx's competitiveness with respect to other trading venues, thereby
promoting greater competition. Moreover, the change does not burden
competition in that it does not restrict the ability of members to
enter and update trading interest in PSX.

C. Self-Regulatory Organization's Statement on Comments on the Proposed
Rule Change Received From Members, Participants, or Others

    No written comments were either solicited or received.

III. Date of Effectiveness of the Proposed Rule Change and Timing for
Commission Action

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \14\ and Rule 19b-
4(f)(6) thereunder.\15\
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    \14\ 15 U.S.C. 78s(b)(3)(A).
    \15\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
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    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views, and
arguments concerning the foregoing, including whether the proposed rule
change is consistent with the Act. Comments may be submitted by any of
the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-Phlx-2013-77 on the subject line.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy,
Secretary, Securities and Exchange Commission, 100 F Street NE.,
Washington, DC 20549-1090.

All submissions should refer to File Number SR-Phlx-2013-77. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-Phlx-2013-77 and should be
submitted on or before August 30, 2013.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\16\
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    \16\ 17 CFR 200.30-3(a)(12).
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Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-19256 Filed 8-8-13; 8:45 am]
BILLING CODE 8011-01-P