[Federal Register: May 8, 2008 (Volume 73, Number 90)]
[Notices]
[Page 26119-26120]
[DOCID:fr08my08-91]

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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

Anti-Infective Drugs Advisory Committee; Notice of Meeting

AGENCY:  Food and Drug Administration, HHS.

ACTION:  Notice.

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    This notice announces a forthcoming meeting of a public advisory
committee of the Food and Drug Administration (FDA). The meeting will
be open to the public.
    Name of Committee: Anti-Infective Drugs Advisory Committee.
    General Function of the Committee: To provide advice and
recommendations to the agency on FDA's regulatory issues.
    Date and Time: The meeting will be held on July 16, 2008, from 8
a.m. to 5 p.m.
    Location: Food and Drug Administration, Center for Drug Evaluation
and Research Advisory

Committee Conference Room, rm. 1066, 5630 Fishers Lane, Rockville, MD.
    Contact Person: Sohail Mosaddegh, Center for Drug Evaluation and
Research (HFD-21), Food and Drug Administration, 5600 Fishers Lane (for
express delivery, 5630 Fishers Lane, rm. 1093) Rockville, MD 20857,
301-827-7001, FAX:<PHONE_NUMBER>, e-mail<EMAIL_ADDRESS>
or FDA Advisory Committee Information Line, 1-800-741-8138 (301-443-
0572 in the Washington, DC area), code<PHONE_NUMBER>. Please call the
Information Line for up-to-date information on this meeting. A notice
in the Federal Register about last minute modifications that impact a
previously announced advisory committee meeting cannot always be
published quickly enough to provide timely notice.
    Therefore, you should always check the agency's Web site and call
the appropriate advisory committee hot line/phone line to learn about
possible modifications before coming to the meeting.
    Agenda: The committee will discuss new drug application (NDA) 022-
171, doripenem powder for reconstitution and intravenous
administration, Johnson and Johnson Pharmaceutical Research and
Development, LLC, proposed for the treatment of nosocomial pneumonia,
including ventilator-associated pneumonia.
    FDA intends to make background material available to the public no
later than 2 business days before the meeting. If FDA is unable to post
the background material on its Web site prior to the meeting, the
background material will be made publicly available at the location of
the advisory committee meeting, and the background material will be
posted on FDA's Web site after the meeting. Background material is
available at http://www.fda.gov/ohrms/dockets/ac/acmenu.htm, click on
the year 2008 and scroll down to the appropriate advisory committee
link.
    Procedure: Interested persons may present data, information, or
views, orally or in writing, on issues pending before the committee.
Written submissions may be made to the contact person on or before July
1, 2008. Oral presentations from the public will be scheduled between
approximately 11 a.m. and 12 noon. Those desiring to make formal oral
presentations should notify the contact person and submit a brief
statement of the general nature of the evidence or arguments they wish
to present, the names and addresses of proposed participants, and an
indication of the approximate time requested to make their presentation
on or before June 23, 2008. Time allotted for each presentation may be
limited. If the number of registrants requesting to speak is greater
than can be reasonably accommodated during the scheduled open public
hearing session, FDA may conduct a lottery to determine the speakers
for the scheduled open public hearing session. The contact person will
notify interested persons regarding their request to speak by June 24,
2008.
    Persons attending FDA's advisory committee meetings are advised
that the agency is not responsible for providing access to electrical
outlets.
    FDA welcomes the attendance of the public at its advisory committee
meetings and will make every effort to accommodate persons with
physical disabilities or special needs. If you require special
accommodations due to a disability, please contact Sohail Mosaddegh at
least 7 days in advance of the meeting.
    FDA is committed to the orderly conduct of its advisory committee
meetings. Please visit our Web site at http://www.fda.gov/oc/advisory/
default.htm for procedures on public conduct during advisory committee
meetings.
    Notice of this meeting is given under the Federal Advisory
Committee Act (5 U.S.C. app. 2).

    Dated: April 29, 2008.
Randall W. Lutter,
Deputy Commissioner for Policy.
[FR Doc. E8-10307 Filed 5-7-08; 8:45 am]

BILLING CODE 4160-01-S


[Federal Register Volume 80, Number 67 (Wednesday, April 8, 2015)]
[Rules and Regulations]
[Pages 18777-18780]
[FR Doc No: 2015-07992]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Parts 260 and 261

[EPA-HQ-RCRA-2015-0118; FRL_9923-12-OSWER]

Response to Vacaturs of the Comparable Fuels Rule and the
Gasification Rule

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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SUMMARY: The Environmental Protection Agency (EPA) is revising
regulations associated with the comparable fuels exclusion and the
gasification exclusion, originally issued by EPA under the Resource
Conservation and Recovery Act (RCRA). These revisions implement
vacaturs ordered by the United States Court of Appeals for the District
of Columbia Circuit (D.C. Circuit), on June 27, 2014.

DATES: Effective April 8, 2015.

ADDRESSES: EPA has established a docket for this action under Docket ID
No. EPA-HQ-RCRA-2015-0118. All documents in the docket are listed in
the www.regulations.gov index. Although listed in the index, some
information is not publicly available, e.g., Confidential Business
Information (CBI) or other information whose disclosure is restricted
by statute. Certain other material, such as copyrighted material, is
not placed on the internet and will be publicly available only in hard
copy form. Publicly available docket materials are available either
electronically through www.regulations.gov or in hard copy at the EPA
Docket Center, EPA/DC, WJC West Building, Room 3334, 1301 Constitution
Ave. NW., Washington, DC. The Public Reading Room is open from 8:30
a.m. to 4:30 p.m. Monday through Friday, excluding legal holidays. The
telephone number for the Public Reading Room is<PHONE_NUMBER> and the
telephone number for the RCRA Docket is<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Office of Resource Conservation and
Recovery, Materials Recovery and Waste Management Division, MC 5304P,
Environmental Protection Agency, 1200 Pennsylvania Ave. NW.,
Washington, DC 20460, Tracy Atagi, at<PHONE_NUMBER>,
<EMAIL_ADDRESS>or Frank Behan, at<PHONE_NUMBER>,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Preamble Outline

I. General Information
II. Statutory Authority
III. Which regulations is EPA removing?
IV. Background on the Comparable Fuels Rule and the Gasification
Rule
V. When will the final rule become effective?
VI. State Authorization
VII. Statutory and Executive Order (EO) Reviews

I. General Information

A. Does this action apply to me?

    Today's final rule applies to generators, transporters, and
facilities treating, storing, disposing or otherwise managing hazardous
wastes previously excluded from RCRA regulation under the comparable
fuels rule or previously excluded from RCRA regulation under the
gasification rule. EPA has not identified any entities currently
operating under the gasification rule, but has identified 31 facilities
that appear to be managing previously-excluded comparable fuels. A list
of these facilities is available in the docket for today's rule (Docket
ID no. EPA-HQ-RCRA-2015-0118).

B. Why is EPA issuing a final rule?

    Section 553 of the Administrative Procedure Act, 5 U.S.C.
553(b)(3)(B), provides that, when an agency for good cause finds that
notice and public procedure are impracticable, unnecessary or contrary
to the public interest, the Agency may issue a rule without providing
notice and an opportunity for public comment. EPA has determined that
there is good cause for removing these provisions without prior
proposal and opportunity for comment, because these revisions are
consistent with court orders vacating these rules. As a matter of law,
the orders issued by the United States Court of Appeals for the
District of Columbia Circuit on June 27, 2014, vacated the ``comparable
fuels rule'' and the gasification rule issued by EPA under the Resource
Conservation and Recovery Act (RCRA), 42 U.S.C. 6901, et seq. It is,
therefore, unnecessary to provide notice and an opportunity for comment
on this action, which merely carries out the court's orders. For the
same reasons, EPA finds that it has good cause to make the revisions
effective under 5 U.S.C. 553(d) and section 3010(b) of RCRA 42 U.S.C.
6930(b).

II. Statutory Authority

    These regulations are promulgated under the authority of sections
2002, 3001, 3002, 3003, 3004, 3006, 3007, 3010, and 3017 of the Solid
Waste Disposal Act of 1970, as amended by the Resource Conservation and
Recovery Act of 1976 (RCRA), as amended by the Hazardous and Solid
Waste Amendments of 1984 (HSWA), 42 U.S.C. 6921, 6922, 6923, and 6924.
This statute is commonly referred to as ``RCRA.''

III. Which regulations is EPA removing?

    EPA is removing provisions at 40 CFR 261.4(a)(16) and 40 CFR 261.38
related to comparable fuels, and revising 40 CFR 261.4(a)(12)(i) by
removing gasification from the list of specific petroleum refining
processes into which oil-bearing hazardous secondary materials may be
inserted. The effect of the removal of 40 CFR 261.4(a)(16) and 261.38
will be to make comparable fuels that were previously excluded from the
RCRA definition of solid waste subject to regulation under RCRA
subtitle C. The removal of gasification from 40 CFR 261.4(a)(12)(i)
will prevent hazardous secondary materials generated at petroleum
refineries from being inserted into gasifiers at refineries without
being deemed hazardous wastes and therefore being subject to hazardous
waste regulations under RCRA subtitle C. As a result of these
previously excluded materials now being identified as hazardous waste
under 40 CFR 261.3, facilities burning these materials will be subject
to regulation as Hazardous Waste Combustors under 40 CFR part 63
subpart EEE, as well as applicable regulations under RCRA subtitle C.

IV. Background on the Comparable Fuels Rule and the Gasification Rule

A. The Comparable Fuels Rule

    EPA promulgated the Comparable Fuels Rule in 1998.\1\ The rule
provided that fuels made from materials identified as hazardous wastes
were excluded from the RCRA definition of solid waste if, as generated
or after treatment and blending, they were sufficiently comparable to
commercial fossil fuels for which they were substituted with respect to
levels of hazardous constituents and physical properties that affect
fuel burning efficiency, such as viscosity and heating value. Because
the fuels, as burned, would contain contaminants no greater than
commercial fossil fuels, and were otherwise indistinguishable from the
fossil fuels that would be burned in their place, EPA found that the
comparable fuels would pose no greater risk than commercial fuels when
burned, and could be legitimately classified as non-waste fuels rather
than as solid and hazardous waste fuels.
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    \1\ See ``Hazardous Waste Combustors; Revised Standards,'' 63 FR
33782 (June 19, 1998).
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    The Agency took the position that comparable fuels were not being
``discarded'' within the meaning of the definition of solid waste in
RCRA section 1004(27), 42 U.S.C. 6903(27). RCRA defines solid wastes,
for relevant purposes, as materials that have been discarded in the
plain sense of the term, meaning that the material has been thrown
away, disposed of or abandoned. Under RCRA a material regulated as a
hazardous waste must first be a solid waste--that is, a discarded
material. Thus, even though the comparable fuels were derived from
materials that are listed hazardous wastes, EPA had concluded that
fuels that met specified comparability criteria were not solid wastes
because they looked no different from commercial fuels.
    The comparable fuels rule was vacated by United States Court of
Appeals for the District of Columbia Circuit (D.C. Circuit), on June
27, 2014 (Natural Resources Defense Council v. EPA, 755 F. 3d 1010
(June 27, 2014)). In its decision, the court held that the unambiguous
language of section 3004(q) requires that fuels produced from hazardous
wastes must remain classified as hazardous wastes under subtitle C
(other than in limited specified instances not relevant here). Section
3004(q), according to the court, unequivocally provides that EPA
``shall'' promulgate regulations as ``may'' be necessary to protect
human health and the environment for the production of fuels from
``any'' materials identified as hazardous waste under RCRA. All
hazardous secondary materials from which the comparable fuels were made
were identified in RCRA regulations as hazardous wastes.
    On November 3, 2014, the court granted EPA's motion to stay the
issuance of the mandate for the comparable fuels rule until March 30,
2015, in order to allow affected facilities time to come into
compliance with applicable subtitle C regulations.

B. Gasification Rule

    Under the gasification rule, which was promulgated in 2008,\2\ EPA
determined that oil-bearing hazardous secondary materials, even though
otherwise identified as hazardous wastes under RCRA if discarded, are
not in fact discarded and not solid wastes if they are inserted into a
gasification unit located at a petroleum refinery to produce synthesis
gas.\3\ Therefore, they were excluded from hazardous waste regulation.
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    \2\ See ``Regulation of Oil-Bearing Hazardous Secondary
Materials From the Petroleum Refining Industry Processed in a
Gasification System To Produce Synthesis Gas,'' 73 FR 57-72 (Jan. 2,
2008).
    \3\ Synthesis gas is a type of fuel that may be burned for the
recovery of energy.
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    The gasification rule was vacated by United States Court of Appeals
for the District of Columbia Circuit (D.C. Circuit), on June 27, 2014.
(Sierra Club

v. EPA, 755 F. 3d 968).The court held, similar to its decision on the
Comparable Fuels Rule, that the Gasification Rule violates the plain
language of RCRA section 3004(q) because fuels produced from hazardous
wastes remain solid and hazardous wastes. Thus, all hazardous wastes
inserted into a gasification unit at petroleum refineries remain
subject to RCRA regulations as hazardous wastes.
    The court issued its mandate for the vacatur of the gasification
rule on November 3, 2014.

V. When will the final rule become effective?

    The removal of the comparable fuels exclusion and the revisions
removing gasification as an exclusion are effective immediately.

VI. State Authorization

A. Applicability of Rules in Authorized States

    Under section 3006 of RCRA, EPA may authorize a qualified state to
administer and enforce a hazardous waste program within the state in
lieu of the federal program, and to issue and enforce permits in the
state. A state may receive authorization by following the approval
process described in 40 CFR 271.21 (see 40 CFR part 271 for the overall
standards and requirements for authorization). EPA continues to have
independent authority to bring enforcement actions under RCRA sections
3007, 3008, 3013, and 7003. An authorized state also continues to have
independent authority to bring enforcement actions under state law.
    After a state receives initial authorization, new federal
requirements promulgated under RCRA authority existing prior to the
1984 Hazardous and Solid Waste Amendments (HSWA) do not apply in that
state until the state adopts and receives authorization for equivalent
state requirements. In contrast, under RCRA section 3006(g) (42 U.S.C.
6926(g)), new federal requirements and prohibitions imposed under
subtitle C pursuant to HSWA provisions take effect in authorized states
at the same time that they take effect in unauthorized states. As such,
EPA carries out the HSWA requirements and prohibitions in authorized
states, including the issuance of new permits implementing those
requirements, until EPA authorizes the state to do so.
    Authorized states are required to modify their programs only when
EPA enacts federal requirements that are more stringent or broader in
scope than the existing federal requirements. RCRA section 3009 allows
the states to impose standards more stringent than those in the federal
program (see also 40 CFR 271.1(i)). Therefore, authorized states are
not required to adopt federal regulations that are considered less
stringent than previous federal regulations or that narrow the scope of
the RCRA program. Previously authorized hazardous waste regulations
would continue to apply in those states.

B. Effect on State Authorization of D.C. Circuit Court Vacaturs

    On March 30, 2015, the D.C. Circuit Court issued its mandate,
effectuating the vacatur of the comparable fuels rule, as described
earlier in this document. The mandate for the gasification rule was
issued on November 3, 2014. The court's vacaturs mean that these
federal rules are legally null and void. Therefore, the court's
mandates reinstate the regulatory status of the materials previously in
effect as if the vacated rules never existed. Because excluded
comparable fuels and gasified hazardous waste were, or would have been,
previously regulated as discarded solid waste, these materials, if
hazardous, must be handled as hazardous waste in compliance with
requirements applicable to the generation, transportation, treatment,
storage, or disposal of hazardous waste after March 30, 2015. At the
federal level, because the effect of the vacaturs means, in essence,
that these rules should not have been promulgated, this document simply
removes them from the exclusions in the federal regulations. At the
state level, because no state rules were challenged in the litigation,
the court decision does not affect any state exclusions. However, the
vacaturs do have an impact on the authorization status of states. The
multiple scenarios that exist in the states are discussed below.
1. States Without Final RCRA Authorization
    For states that have no RCRA authorization status (Iowa, Alaska),
the vacaturs simply mean that the federal rules will no longer be in
effect in those states and by this document, EPA is alerting interested
parties of the removal of the vacated rules from the Code of Federal
Regulations. The subject materials are federally regulated and EPA may
bring enforcement actions under RCRA Section 3008 at facilities that do
not comply with the RCRA hazardous waste regulations. The state
programs are completely unaffected by the vacaturs and these states do
not have to modify their programs in any way regardless of how they
currently regulate the materials.
2. States That Have Final Authorization but Did Not Promulgate Similar
Rules
    For states that have been authorized under RCRA but did not adopt
rules similar to the comparable fuels and gasification rules (and
therefore were not authorized for them), there were no federal
comparable fuels and gasification rules in effect prior to vacatur
because the federal comparable fuels and gasification rules were less
stringent than the federal hazardous waste regulations and states were
not required to adopt or become authorized for these rules. Therefore,
these vacaturs will have no effect on the authorization status in these
states. The subject materials remain regulated under the authorized
state hazardous waste program and EPA may continue to bring enforcement
actions under RCRA Section 3008 at facilities that do not comply with
the RCRA hazardous waste regulations. These states do not have to
modify their programs.
3. States That Adopted Similar Rules But Are Not Yet Authorized for
Them
    For states that have adopted similar rules but have not yet been
authorized for them, the vacatur of the federal rules will not change
the authorization status of the state programs. The authorization
status that was established prior to the adoption of the state
counterpart rules remains in effect and EPA may continue to bring
enforcement actions under RCRA Section 3008 at facilities that do not
comply with the RCRA hazardous waste regulations. The vacaturs and
subsequent removal of the federal rules will result in state programs
that are less stringent than the federal program as long as state
provisions that exclude the subject materials from regulation remain in
effect in the state programs. EPA encourages these states to
expeditiously remove these rules from their programs.
4. States That Adopted Similar Rules and Have Been Authorized for Them
    For states that have previously been authorized for the comparable
fuels and gasification rules, the effect of the vacaturs is that the
previously authorized comparable fuels and gasification rules from the
state program will no longer be considered part of the federally
authorized program. Thus, EPA may bring enforcement actions under RCRA
Section 3008 at facilities that do not comply with the RCRA hazardous
waste regulations. In other words, the authorization status of the
state program that was in place prior to authorization of the state
comparable fuels and gasification rules is reinstated with regard to
these rules. EPA strongly

encourages these states to proceed expeditiously to remove these
counterpart rules. Once the counterpart rules are removed, these states
should notify their EPA regional office by letter to verify the status
of the state program.

VII. Statutory and Executive Order (EO) Reviews

    Under Executive Order 12866 (58 FR 51735, October 4, 1993) and
Executive Order 13563 (76 FR 3821, January 21, 2011), this action is
not a ``significant regulatory action'' and is therefore not subject to
OMB review. Because this action is not subject to notice and comment
requirements under the Administrative Procedures Act or any other
statute, it is not subject to the Regulatory Flexibility Act (5 U.S.C.
601 et seq.) or Sections 202 and 205 of the Unfunded Mandates Reform
Act of 1999 (UMRA) (Pub. L. 104-4). In addition, this action does not
significantly or uniquely affect small governments. This action does
not create new binding legal requirements that substantially and
directly affect Tribes under Executive Order 13175 (65 FR 67249,
November 9, 2000). This action does not have significant Federalism
implications under Executive Order 13132 (64 FR 43255, August 10,
1999). Because this final rule has been exempted from review under
Executive Order 12866, this final rule is not subject to Executive
Order 13211, entitled Actions Concerning Regulations That Significantly
Affect Energy Supply, Distribution, or Use (66 FR 28355, May 22, 2001)
or Executive Order 13045, entitled Protection of Children from
Environmental Health Risks and Safety Risks (62 FR 19885, April 23,
1997). This final rule does not contain any information collections
subject to OMB approval under the Paperwork Reduction Act (PRA), 44
U.S.C. 3501 et seq., nor does it require any special considerations
under Executive Order 12898, entitled Federal Actions to Address
Environmental Justice in Minority Populations and Low-Income
Populations (59 FR 7629, February 16, 1994). This action does not
involve technical standards; thus, the requirements of Section 12(d) of
the National Technology Transfer and Advancement Act of 1995 (15 U.S.C.
272 note) do not apply.

Congressional Review Act

    The Congressional Review Act, 5 U.S.C. 801 et seq., generally
provides that before certain actions may take effect, the agency
promulgating the action must submit a report, which includes a copy of
the action, to each House of the Congress and to the Comptroller
General of the United States. This action is subject to the CRA, and
the EPA will submit a rule report to each House of the Congress and to
the Comptroller General of the United States. This action is not a
``major rule'' as defined by 5 U.S.C. 804(2).

List of Subjects

40 CFR Part 260

    Environmental protection, Administrative practice and procedure,
Confidential business information, Hazardous waste, Reporting and
recordkeeping requirements.

40 CFR Part 261

    Environmental protection, Hazardous waste, Recycling, Solid Waste.

    Dated: April 1, 2015.
Mathy Stanislaus,
Assistant Administrator, Office of Solid Waste and Emergency Response.

    For the reasons stated in the preamble, title 40, chapter I of the
Code of Federal Regulations is amended as follows:

PART 260--HAZARDOUS WASTE MANAGEMENT SYSTEM: GENERAL

0
1. The authority citation for part 260 continues to read as follows:

    Authority: 42 U.S.C. 6905, 6912(a), 6921-6927, 6930, 6934, 6935,
6937, 6938, 6939 and 6974.

Subpart B--Definitions

Sec.  260.10  [Amended]

0
2. Section 260.10 is amended by removing the definition of
``Gasification.''

PART 261--IDENTIFICATION AND LISTING OF HAZARDOUS WASTE

0
3. The authority citation for part 261 continues to read as follows:

    Authority: 42 U.S.C. 6905, 6912(a), 6921, 6922, 6924(y), and
6938.

0
4. Section 261.4 is amended by revising paragraph (a)(12)(i), and
removing and reserving paragraph (a)(16) to read as follows:

Sec.  261.4  Exclusions.

    (a) * * *
* * * * *
    (12)(i) Oil-bearing hazardous secondary materials (i.e., sludges,
byproducts, or spent materials) that are generated at a petroleum
refinery (SIC code 2911) and are inserted into the petroleum refining
process (SIC code 2911--including, but not limited to, distillation,
catalytic cracking, fractionation, or thermal cracking units (i.e.,
cokers)) unless the material is placed on the land, or speculatively
accumulated before being so recycled. Materials inserted into thermal
cracking units are excluded under this paragraph, provided that the
coke product also does not exhibit a characteristic of hazardous waste.
Oil-bearing hazardous secondary materials may be inserted into the same
petroleum refinery where they are generated, or sent directly to
another petroleum refinery and still be excluded under this provision.
Except as provided in paragraph (a)(12)(ii) of this section, oil-
bearing hazardous secondary materials generated elsewhere in the
petroleum industry (i.e., from sources other than petroleum refineries)
are not excluded under this section. Residuals generated from
processing or recycling materials excluded under this paragraph
(a)(12)(i), where such materials as generated would have otherwise met
a listing under subpart D of this part, are designated as F037 listed
wastes when disposed of or intended for disposal.
* * * * *
    (16) [Reserved]
* * * * *

Sec.  261.38  [Removed and Reserved]

0
5. Remove and reserve Sec.  261.38.

[FR Doc. 2015-07992 Filed 4-7-15; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register Volume 85, Number 85 (Friday, May 1, 2020)]
[Notices]
[Page 25433]
[FR Doc No: 2020-09312]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #2

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER15-2013-010; ER12-2510-009; ER15-2014-005; ER10-
2435-016; ER10-2440-012; ER10-2442-014; ER12-2512-009; ER19-481-002;
ER15-2018-005; ER18-2252-001; ER10-3286-013; ER15-2022-005; ER10-3299-
012; ER10-2444-016; ER10-2446-012; ER15-2026-005; ER15-2020-008; ER10-
2449-014; ER19-2250-002.
    Applicants: Talen Energy Marketing, LLC, Brandon Shores LLC,
Brunner Island, LLC, Camden Plant Holding, L.L.C., Dartmouth Power
Associates Limited Partnership, Elmwood Park Power, LLC, H.A. Wagner
LLC, LMBE Project Company LLC, Martins Creek, LLC, MC Project Company
LLC, Millennium Power Partners, LP, Montour, LLC, New Athens Generating
Company, LLC, Newark Bay Cogeneration Partnership, L.P, Pedricktown
Cogeneration Company LP, Susquehanna Nuclear, LLC, Talen Montana, LLC,
York Generation Company LLC, TrailStone Energy Marketing, LLC.
    Description: Notification of Change in Status of the Indicated MBR
Sellers, et al.
    Filed Date: 4/27/20.
    Accession Number: 20200427-5181.
    Comments Due: 5 p.m. ET 5/18/20.

    Docket Numbers: ER20-1136-001.
    Applicants: Idaho Power Company.
    Description: Tariff Amendment: Amendment re Add Omitted Cancelled
Service Agreement to be effective 6/30/2020.
    Filed Date: 4/27/20.
    Accession Number: 20200427-5120.
    Comments Due: 5 p.m. ET 5/18/20.

    The filings are accessible in the Commission's eLibrary system by
clicking on the links or querying the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5:00
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: April 27, 2020.
Nathaniel J. Davis, Sr.,
Deputy Secretary.
[FR Doc. 2020-09312 Filed 4-30-20; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 78, Number 9 (Monday, January 14, 2013)]
[Notices]
[Pages 2711-2713]
[FR Doc No: 2013-00510]

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DEPARTMENT OF TRANSPORTATION

Federal Motor Carrier Safety Administration

[Docket No. FMCSA-2012-0370]

Hours of Service of Drivers: U.S. Department of Energy (DOE);
Application for Exemption

AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT.

ACTION: Notice of application for exemption; request for comments.

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SUMMARY: FMCSA has received an application from the U.S. Department of
Energy (DOE) for an exemption from the 30-minute rest break provision
of the Agency's hours-of-service (HOS) regulations for commercial motor
vehicle drivers. The exemption would enable DOE's contract motor
carriers and their employee-drivers engaged in the transportation of
security-sensitive radioactive materials to be treated similarly to
drivers of shipments of explosives. The exempted drivers would be
allowed to use 30 minutes or more of attendance time to meet the HOS
rest break requirements providing they do not perform any other work
during the break. FMCSA requests public comment on DOE's application
for exemption.

DATES: Comments must be received on or before February 13, 2013.

ADDRESSES: You may submit comments identified by Federal Docket
Management System Number FMCSA-2012-0370 by any of the following
methods:
     Federal eRulemaking Portal: //www.regulations.gov. Follow
the online instructions for submitting comments.
     Fax: 1-202-493-2251.
     Mail: Docket Management Facility, U.S. Department of
Transportation, 1200 New Jersey Avenue SE., West Building, Ground
Floor, Room W12-140, Washington, DC 20590-0001.
     Hand Delivery or Courier: West Building, Ground Floor,
Room W12-

140, 1200 New Jersey Avenue SE., between 9 a.m. and 5 p.m. E.T., Monday
through Friday, except Federal holidays.
    Instructions: All submissions must include the Agency name and
docket number. For detailed instructions on submitting comments and
additional information on the exemption process, see the Public
Participation heading below. Note that all comments received will be
posted without change to www.regulations.gov, including any personal
information provided. Please see the Privacy Act heading below.
    Docket: For access to the docket to read background documents or
comments received, go to www.regulations.gov, and follow the online
instructions for accessing the dockets, or go to the street address
listed above.
    Privacy Act: Anyone is able to search the electronic form of all
comments received into any of our dockets by the name of the individual
submitting the comment (or signing the comment, if submitted on behalf
of an association, business, labor union, etc.). You may review the
U.S. Department of Transportation's online privacy policy at
www.dot.gov/privacy or the complete Privacy Act Statement in the
Federal Register published on December 29, 2010 (75 FR 82133).
    Public Participation: The Federal eRulemaking Portal is available
24 hours each day, 365 days each year. You can get electronic
submission and retrieval help and guidelines under the ``help'' section
of the Federal eRulemaking Portal Web site. If you want us to notify
you that we received your comments, please include a self-addressed,
stamped envelope or postcard, or print the acknowledgement page that
appears after submitting comments online. Comments received after the
comment closing date will be included in the docket, and we will
consider late comments to the extent practicable.

FOR FURTHER INFORMATION CONTACT: Ms. Pearlie Robinson, FMCSA Driver and
Carrier Operations Division; Office of Bus and Truck Standards and
Operations; Telephone:<PHONE_NUMBER>. Email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Background

    FMCSA has authority under 49 U.S.C. 31136(e) and 31315 to grant
exemptions from certain parts of the Federal Motor Carrier Safety
Regulations. FMCSA must publish a notice of each exemption request in
the Federal Register (49 CFR 381.315(a)). The Agency must provide the
public an opportunity to inspect the information relevant to the
application, including any safety analyses that have been conducted.
The Agency must also provide an opportunity for public comment on the
request.
    The Agency reviews safety analyses and public comments submitted,
and determines whether granting the exemption would likely achieve a
level of safety equivalent to, or greater than, the level that would be
achieved by the current regulation (49 CFR 381.305). The decision of
the Agency must be published in the Federal Register (49 CFR
381.315(b)) with the reasons for denying or granting the application
and, if granted, the name of the person or class of persons receiving
the exemption, and the regulatory provision from which the exemption is
granted. The notice must also specify the effective period and explain
the terms and conditions of the exemption. The exemption may be renewed
(49 CFR 381.300(b)).

Request for Exemption

    Certain motor carriers under contract to the U.S. Department of
Energy (DOE) transport ``security-sensitive radioactive materials.''
DOE notes that the term includes transuranic waste; spent nuclear fuel;
radioactive sources classified as category 1 and 2 materials by the
International Atomic Energy Agency, including ``Highway route
controlled quantities,'' as defined in 49 CFR 173.403; or known
radionuclides in forms listed as RAM-QC by the Nuclear Regulatory
Commission.
    DOE requests a limited exemption from the HOS regulation pertaining
to rest breaks [49 CFR 395.3(a)(3)(ii)], to allow contract driver-
employees transporting security-sensitive radioactive materials to be
treated the same as drivers transporting explosives, as provided in
Sec.  395.1(q). Section 395.1(q) states that operators of commercial
motor vehicles (CMV) carrying Division 1.1, 1.2, or 1.3 explosives
subject to the requirement for a 30-minute rest break in Sec.
395.3(a)(3)(ii) may use 30 minutes or more of ``attendance time'' to
meet the requirement for a rest break. Section 395.3(a)(3) becomes
effective on July 1, 2013.
    DOE contends that shipments of security-sensitive radioactive
materials require a team of two drivers and the use of a sleeper berth
to minimize risk and expedite delivery in a safe and secure manner. DOE
asserts that granting the exemption would allow team drivers to manage
their en-route rest periods efficiently and also perform mandated
shipment security surveillance, resulting in a safe and secure driving
performance during a long distance trip.
    DOE states that it has instituted several technical and
administrative controls to ensure the effective use of driver on-duty
and rest-break time, which would remain in effect under the requested
exemption. They include the following:
     Real-time tracking and monitoring of transuranic waste and
security-sensitive shipments using DOE's satellite-based systems.
     Use of electronic on-board recorders on trucks, which is
contractually required by for motor carriers involved in the Waste
Isolation Pilot Plant to ensure compliance with driver HOS rules.
     Continuous monitoring of the safety performance of DOE-
qualified motor carriers using the FMCSA Compliance Safety
Accountability Program's Safety Measurement System, and DOE's Motor
Carrier Evaluation Program.
    Further details regarding DOE's safety controls can be found in its
application for exemption. The application can be accessed in the
docket identified at the beginning of this notice. DOE contends that
these controls enable them to achieve a high level of safety and
security for transportation of security-sensitive radioactive
materials.
    DOE anticipates no safety impacts from this exemption and notes
that in the preamble to the FMCSA final rule on the ``Hours of Service
of Drivers,'' dated December 27, 2011 (76 FR 81134), the Agency
addressed concerns from commenters regarding rest breaks for carriers
of hazardous materials. Section 395.1(q) allows drivers who are
required by Sec.  397.5 to attend a motor vehicle transporting certain
types of explosives but perform no other work, to log at least a half-
hour of their attendance time toward the break. The Agency cited a
recent study showing that on-duty breaks reduce the risk of crashes
after the break [76 FR 81154].
    DOE believes that its contract employee drivers should be allowed
to follow the requirements in Sec.  395.1(q) when transporting
shipments of security-sensitive radioactive materials. DOE believes
that shipments made under the requested exemption would achieve a level
of safety and security that is at least equivalent to that which would
be obtained by following the normal break requirement in Sec.
395.3(a)(3)(ii).
    DOE estimates that 30 power units and 53 drivers would currently be
eligible for the exemption, if granted. The proposed exemption would be
effective from July 1, 2013 through June 30, 2015, the maximum period
allowed

by Sec.  381.300. A copy of DOE's exemption application is available
for review in the docket for this notice.

Request for Comments

    In accordance with 49 U.S.C. 31136(e) and 31315(b)(4), FMCSA
requests public comment on DOE's application for an exemption from
certain provisions of the driver's record of duty status rules in 49
CFR part 395. The Agency will consider all comments received by close
of business on February 13, 2013. Comments will be available for
examination in the docket at the location listed under the ADDRESSES
section of this notice. The Agency will consider to the extent
practicable comments received in the public docket after the closing
date of the comment period.

    Issued on: January 8, 2013.
Larry W. Minor,
Associate Administrator for Policy.
[FR Doc. 2013-00510 Filed 1-11-13; 8:45 am]
BILLING CODE 4910-EX-P


[Federal Register Volume 79, Number 145 (Tuesday, July 29, 2014)]
[Notices]
[Pages 44071-44074]
[FR Doc No: 2014-17775]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 31185; File No. 812-14290]

The New Ireland Fund, Inc. and Kleinwort Benson Investors
International Ltd.; Notice of Application

July 23, 2014.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice of application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from section 19(b) of
the Act and rule 19b-1 under the Act.

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

    Summary of Application: Applicants request an order to permit a
registered closed-end investment company to make periodic distributions
of long-term capital gains with respect to its outstanding common stock
as frequently as twelve times in any one taxable year, and as
frequently as distributions are specified by or in accordance with the
terms of any outstanding preferred stock that such investment company
may issue.
    Applicants: The New Ireland Fund, Inc. (``Fund'') and Kleinwort
Benson Investors International Ltd. (``Adviser'').
    Filing Dates: The application was filed on March 14, 2014, and
amended on June 24 and July 22, 2014.
    Hearing or Notification of Hearing: An order granting the
application will be issued unless the Commission orders a hearing.
Interested persons may request a hearing by writing to the Commission's
Secretary and serving applicants with a copy of the request, personally
or by mail. Hearing requests should be received by the Commission by
5:30 p.m. on August 18, 2014, and should be accompanied by proof of
service on applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Hearing requests should state the nature of the
writer's interest, the reason for the request, and the issues
contested. Persons who wish to be notified of a hearing may request
notification by writing to the Commission's Secretary.

ADDRESSES: Secretary, Securities and Exchange Commission, 100 F Street
NE., Washington, DC 20549-1090; Applicants: Peter Hooper, The New
Ireland Fund, Inc., Westchester Financial Center, Suite 1000, 50 Main
Street, White Plains, NY 10606, and Lelia Long, Kleinwort Benson
Investors International Ltd., One Rockefeller Plaza, 32nd Floor, New
York, NY 10020.

FOR FURTHER INFORMATION CONTACT: Courtney S. Thornton, Senior Counsel,
at<PHONE_NUMBER>, or David P. Bartels, Branch Chief, at<PHONE_NUMBER>
(Division of Investment Management, Chief Counsel's Office).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's Web site by searching for the file number, or for an
applicant using the Company name box, at http://www.sec.gov/search/search.htm, or by calling<PHONE_NUMBER>.

Applicants' Representations

    1. The Fund is a non-diversified, closed-end management investment
company registered under the Act and is organized as a Maryland
corporation. The investment objective of the Fund is long-term capital
appreciation through investment primarily in equity securities of
issuers organized under the laws of Ireland. The Fund's shares of
common stock are currently listed on the New York Stock Exchange, a
national securities exchange as defined in section 2(a)(26) of the Act.
Applicants state that the Fund may incur leverage through the issuance
of preferred stock and debt securities, by entering into a credit
agreement or otherwise as permitted by applicable law.\1\
---------------------------------------------------------------------------

    \1\ The Fund currently has no outstanding preferred stock.
---------------------------------------------------------------------------

    2. The Adviser is registered as an investment adviser under the
Investment Advisers Act of 1940, as amended. Effective July 21, 2011,
the Fund entered into an investment advisory agreement with the
Adviser. Under the investment advisory agreement, the Adviser acts as
investment adviser to the Fund and has responsibility for the
implementation of the Fund's overall investment strategy.
    3. Applicants state that, prior to the Fund's implementing a
distribution policy (``Distribution Policy'') in reliance on the order,
the board of directors (the ``Board'') of the Fund, including a
majority of the directors who are not ``interested persons'' of the
Fund as defined in section 2(a)(19) of the Act (the ``Independent
Directors''), will request, and the Adviser will provide, such
information as is reasonably necessary to make an informed
determination of whether the Board should adopt a proposed Distribution
Policy. In particular, the Board and the Independent Directors will
review information regarding the purpose and terms of a proposed
Distribution Policy; the likely effects of such policy on such Fund's
long-term total return (in relation to market price and its net asset
value (``NAV'') per share of common stock); the expected relationship
between such Fund's distribution rate on its common stock under the
policy and the Fund's total return (in relation to NAV per share);
whether the rate of distribution would exceed such Fund's expected
total return in relation to its NAV per share; and any foreseeable
material effects of such policy on such Fund's long-term total return
(in relation to market price and NAV per share). The Independent
Directors will also consider what conflicts of interest the Adviser and
the affiliated persons of the Adviser and the Fund might have with
respect to the adoption or implementation of the Distribution Policy.
Applicants state that, following this review, the Board, including the
Independent Directors, of the Fund will, before adopting or
implementing any Distribution Policy, make a determination that the
Distribution Policy is consistent with the Fund's investment objectives
and in the best interests of the holders of the Fund's common stock.
The Distribution Policy will be consistent with the Fund's policies and
procedures and will be described in the Fund's registration statement.
    4. Applicants state that the purpose of a Distribution Policy,
generally, would be to permit the Fund to distribute over the course of
each year, through periodic distributions in relatively equal amounts
(plus any required special distributions), an amount closely
approximating the total taxable income of the Fund during the year and,
if determined by the Board, all or a portion of returns of capital paid
by portfolio companies to the Fund during the year. Under the
Distribution Policy of the Fund, the Fund would distribute periodically
(as frequently as 12 times in any taxable year) to its common
stockholders a fixed percentage of the market price of the Fund's
common stock at a particular point in time or a fixed percentage of NAV
at a particular time or a fixed amount per share of common stock, any
of which may be adjusted from time to time. It is anticipated that
under the Distribution Policy, the minimum annual distribution rate
with respect to the Fund's shares of common stock would be independent
of the Fund's performance during any particular period but would be
expected to correlate with the Fund's performance over time. Except for
extraordinary distributions and potential increases or decreases in the
final dividend periods in light of the Fund's performance for an entire
calendar year and to enable a Fund to comply with the distribution

requirements of Subchapter M of the Internal Revenue Code (``Code'')
for the calendar year, each distribution on the Fund's common stock
would be at the stated rate then in effect.
    5. Applicants state that prior to the implementation of a
Distribution Policy for the Fund, the Board shall have adopted policies
and procedures under rule 38a-1 under the Act that: (i) Are reasonably
designed to ensure that all notices required to be sent to the Fund's
stockholders pursuant to section 19(a) of the Act, rule 19a-1
thereunder and condition 4 below (each a ``19(a) Notice'') include the
disclosure required by rule 19a-1 under the Act and by condition 2(a)
below, and that all other written communications by the Fund or its
agents regarding distributions under the Distribution Policy include
the disclosure required by condition 3(a) below; and (ii) require the
Fund to keep records that demonstrate its compliance with all of the
conditions of the order and that are necessary for the Fund to form the
basis for, or demonstrate the calculation of, the amounts disclosed in
its 19(a) Notices.

Applicants' Legal Analysis

    1. Section 19(b) of the Act generally makes it unlawful for any
registered investment company to make long-term capital gains
distributions more than once every twelve months. Rule 19b-1 limits the
number of capital gains dividends, as defined in section 852(b)(3)(C)
of the Code (``distributions''), that a fund may make with respect to
any one taxable year to one, plus a supplemental distribution made
pursuant to section 855 of the Code not exceeding 10% of the total
amount distributed for the year, plus one additional capital gain
dividend made in whole or in part to avoid the excise tax under section
4982 of the Code.
    2. Section 6(c) of the Act provides, in relevant part, that the
Commission may exempt any person or transaction from any provision of
the Act to the extent that such exemption is necessary or appropriate
in the public interest and consistent with the protection of investors
and the purposes fairly intended by the policy and provisions of the
Act.
    3. Applicants state that one of the concerns leading to the
enactment of section 19(b) and adoption of rule 19b-1 was that
stockholders might be unable to distinguish between frequent
distributions of capital gains and dividends from investment income.
Applicants state, however, that rule 19a-1 effectively addresses this
concern by requiring that distributions (or the confirmation of the
reinvestment thereof) estimated to be sourced in part from capital
gains or capital be accompanied by a separate statement showing the
sources of the distribution (e.g., estimated net income, net short-term
capital gains, net long-term capital gains and/or return of capital).
Applicants state that similar information is included in the Funds'
annual reports to stockholders and on the Internal Revenue Service Form
1099 DIV, which is sent to each common and preferred stockholder who
received distributions during a particular year.
    4. Applicants further state that each of the Funds will make the
additional disclosures required by the conditions set forth below, and
each of them will adopt compliance policies and procedures in
accordance with rule 38a-1 under the Act to ensure that all required
19(a) Notices and disclosures are sent to stockholders. Applicants
state that the information required by section 19(a), rule 19a-1, the
Distribution Policy, the policies and procedures under rule 38a-1 noted
above, and the conditions listed below will help ensure that each
Fund's stockholders are provided sufficient information to understand
that their periodic distributions are not tied to a Fund's net
investment income (which for this purpose is the Fund's taxable income
other than from capital gains) and realized capital gains to date, and
may not represent yield or investment return. Accordingly, Applicants
assert that continuing to subject the Funds to section 19(b) and rule
19b-1 would afford stockholders no extra protection.
    5. Applicants note that section 19(b) and rule 19b-1 also were
intended to prevent certain improper sales practices, including, in
particular, the practice of urging an investor to purchase shares of a
fund on the basis of an upcoming capital gains dividend (``selling the
dividend''), where the dividend would result in an immediate
corresponding reduction in NAV and would be in effect a taxable return
of the investor's capital. Applicants submit that the ``selling the
dividend'' concern should not apply to closed-end investment companies,
such as the Funds, which do not continuously distribute shares.
According to Applicants, if the underlying concern extends to secondary
market purchases of shares of closed-end funds that are subject to a
large upcoming capital gains dividend, adoption of a periodic
distribution plan actually helps minimize the concern by avoiding,
through periodic distributions, any buildup of large end-of-the-year
distributions.
    6. Applicants also note that the common stock of closed-end funds
often trades in the marketplace at a discount to its NAV. Applicants
believe that this discount may be reduced if the Funds are permitted to
pay relatively frequent dividends on their common stock at a consistent
rate, whether or not those dividends contain an element of long-term
capital gain.
    7. Applicants assert that the application of rule 19b-1 to a
Distribution Policy actually could have an inappropriate influence on
portfolio management decisions. Applicants state that, in the absence
of an exemption from rule 19b-1, the adoption of a periodic
distribution plan imposes pressure on management (i) not to realize any
net long-term capital gains until the point in the year that the fund
can pay all of its remaining distributions in accordance with rule 19b-
1, and (ii) not to realize any long-term capital gains during any
particular year in excess of the amount of the aggregate pay-out for
the year (since as a practical matter excess gains must be distributed
and accordingly would not be available to satisfy pay-out requirements
in following years), notwithstanding that purely investment
considerations might favor realization of long-term gains at different
times or in different amounts. Applicants assert that by limiting the
number of long-term capital gain dividends that the Fund may make with
respect to any one year, rule 19b-1 may prevent the normal and
efficient operation of a periodic distribution plan whenever the Fund's
realized net long-term capital gains in any year exceed the total of
the periodic distributions that may include such capital gains under
the rule.
    8. Applicants also assert that rule 19b-1 may force fixed regular
periodic distributions under a periodic distribution plan to be funded
with returns of capital \2\ (to the extent net investment income and
realized short-term capital gains are insufficient to fund the
distribution), even though realized net long-term capital gains
otherwise would be available. To distribute all of a Fund's long-term
capital gains within the limits in rule 19b-1, a Fund may be required
to make total distributions in excess of the annual amount called for
by its periodic distribution plan, or to retain and pay taxes on the
excess amount. Applicants assert that the requested order would
minimize these anomalous effects of rule 19b-1 by enabling the Funds to

realize long-term capital gains as often as investment considerations
dictate without fear of violating rule 19b-1.
---------------------------------------------------------------------------

    \2\ Returns of capital as used in the application means return
of capital for financial accounting purposes and not for tax
accounting purposes.
---------------------------------------------------------------------------

    9. Applicants state that Revenue Ruling 89-81 under the Code
requires that a fund that seeks to qualify as a regulated investment
company under the Code and that has both common stock and preferred
stock outstanding designate the types of income, e.g., investment
income and capital gains, in the same proportion as the total
distributions distributed to each class for the tax year. To satisfy
the proportionate designation requirements of Revenue Ruling 89-81,
whenever a fund has realized a long-term capital gain with respect to a
given tax year, the fund must designate the required proportionate
share of such capital gain to be included in common and preferred stock
dividends. Applicants state that although rule 19b-1 allows a fund some
flexibility with respect to the frequency of capital gains
distributions, a fund might use all of the exceptions available under
the rule for a tax year and still need to distribute additional capital
gains allocated to the preferred stock to comply with Revenue Ruling
89-81.
    10. Applicants assert that the potential abuses addressed by
section 19(b) and rule 19b-1 do not arise with respect to preferred
stock issued by a closed-end fund. Applicants assert that such
distributions are either fixed or determined in periodic auctions by
reference to short-term interest rates rather than by reference to
performance of the issuer, and Revenue Ruling 89-81 determines the
proportion of such distributions that are comprised of long-term
capital gains.
    11. Applicants also submit that the ``selling the dividend''
concern is not applicable to preferred stock, which entitles a holder
to no more than a specified periodic dividend at a fixed rate or the
rate determined by the market, and, like a debt security, is priced
based upon its liquidation preference, dividend rate, credit quality,
and frequency of payment. Applicants state that investors buy preferred
stock for the purpose of receiving payments at the frequency bargained
for, and any application of rule 19b-1 to preferred stock would be
contrary to the expectation of investors.
    12. Applicants request an order under section 6(c) of the Act
granting an exemption from the provisions of section 19(b) of the Act
and rule 19b-1 thereunder to permit the Fund to distribute periodic
capital gain dividends (as defined in section 852(b)(3)(C) of the Code)
as often as monthly in any one taxable year in respect of its common
stock and as often as specified by or determined in accordance with the
terms thereof in respect of its preferred stock.

Applicants' Conditions

    Applicants agree that the order will be subject to the following
conditions:
    1. Compliance Review and Reporting. The Fund's chief compliance
officer will: (a) Report to the Fund's Board, no less frequently than
once every three months or at the next regularly scheduled quarterly
Board meeting, whether (i) the Fund and the Adviser have complied with
the conditions of the order, and (ii) a material compliance matter (as
defined in rule 38a-1(e)(2) under the Act) has occurred with respect to
such conditions; and (b) review the adequacy of the policies and
procedures adopted by the Board no less frequently than annually.
    2. Disclosures to Fund Stockholders.
    (a) Each 19(a) Notice disseminated to the holders of the Fund's
common stock, in addition to the information required by section19(a)
and rule 19a-1:
    (i) Will provide, in a tabular or graphical format:
    (1) The amount of the distribution, on a per share of common stock
basis, together with the amounts of such distribution amount, on a per
share of common stock basis and as a percentage of such distribution
amount, from estimated: (A) net investment income; (B) net realized
short-term capital gains; (C) net realized long-term capital gains; and
(D) return of capital or other capital source;
    (2) the fiscal year-to-date cumulative amount of distributions, on
a per share of common stock basis, together with the amounts of such
cumulative amount, on a per share of common stock basis and as a
percentage of such cumulative amount of distributions, from estimated:
(A) Net investment income; (B) net realized short-term capital gains;
(C) net realized long-term capital gains; and (D) return of capital or
other capital source;
    (3) the average annual total return in relation to the change in
NAV for the 5-year period ending on the last day of the month ended
immediately prior to the most recent distribution record date compared
to the current fiscal period's annualized distribution rate expressed
as a percentage of NAV as of the last day of the month prior to the
most recent distribution record date; and
    (4) the cumulative total return in relation to the change in NAV
from the last completed fiscal year to the last day of the month prior
to the most recent distribution record date compared to the fiscal
year-to-date cumulative distribution rate expressed as a percentage of
NAV as of the last day of the month prior to the most recent
distribution record date. Such disclosure shall be made in a type size
at least as large and as prominent as the estimate of the sources of
the current distribution; and
    (ii) will include the following disclosure:
    (1) ``You should not draw any conclusions about the Fund's
investment performance from the amount of this distribution or from the
terms of the Fund's Distribution Policy'';
    (2) ``The Fund estimates that it has distributed more than its
income and net realized capital gains; therefore, a portion of your
distribution may be a return of capital. A return of capital may occur,
for example, when some or all of the money that you invested in the
Fund is paid back to you. A return of capital distribution does not
necessarily reflect the Fund's investment performance and should not be
confused with `yield' or `income'''; \3\ and
---------------------------------------------------------------------------

    \3\ The disclosure in condition 2(a)(ii)(2) will be included
only if the current distribution or the fiscal year-to-date
cumulative distributions are estimated to include a return of
capital.
---------------------------------------------------------------------------

    (3) ``The amounts and sources of distributions reported in this
19(a) Notice are only estimates and are not being provided for tax
reporting purposes. The actual amounts and sources of the amounts for
tax reporting purposes will depend upon the Fund's investment
experience during the remainder of its fiscal year and may be subject
to changes based on tax regulations. The Fund will send you a Form
1099-DIV for the calendar year that will tell you how to report these
distributions for federal income tax purposes.'' Such disclosure shall
be made in a type size at least as large as and as prominent as any
other information in the 19(a) Notice and placed on the same page in
close proximity to the amount and the sources of the distribution.
    (b) On the inside front cover of each report to stockholders under
rule 30e-1 under the Act, the Fund will:
    (i) Describe the terms of the Distribution Policy (including the
fixed amount or fixed percentage of the distributions and the frequency
of the distributions);
    (ii) include the disclosure required by condition 2(a)(ii)(1)
above;
    (iii) state, if applicable, that the Distribution Policy provides
that the Board may amend or terminate the Distribution Policy at any
time without prior notice to Fund stockholders; and

    (iv) describe any reasonably foreseeable circumstances that might
cause the Fund to terminate the Distribution Policy and any reasonably
foreseeable consequences of such termination.
    (c) Each report provided to stockholders under rule 30e-1 under the
Act and each prospectus filed with the Commission on Form N-2 under the
Act, will provide the Fund's total return in relation to changes in NAV
in the financial highlights table and in any discussion about the
Fund's total return.
    3. Disclosure to Stockholders, Prospective Stockholders and Third
Parties.
    (a) The Fund will include the information contained in the relevant
19(a) Notice, including the disclosure required by condition 2(a)(ii)
above, in any written communication (other than a communication on Form
1099) about the Distribution Policy or distributions under the
Distribution Policy by the Fund, or agents that the Fund has authorized
to make such communication on the Fund's behalf, to any Fund
stockholder, prospective stockholder or third-party information
provider;
    (b) The Fund will issue, contemporaneously with the issuance of any
19(a) Notice, a press release containing the information in the 19(a)
Notice and will file with the Commission the information contained in
such 19(a) Notice, including the disclosure required by condition
2(a)(ii) above, as an exhibit to its next filed Form N-CSR; and
    (c) The Fund will post prominently a statement on its Web site
containing the information in each 19(a) Notice, including the
disclosure required by condition 2(a)(ii) above, and will maintain such
information on such Web site for at least 24 months.
    4. Delivery of 19(a) Notices to Beneficial Owners. If a broker,
dealer, bank or other person (``financial intermediary'') holds common
stock issued by the Fund in nominee name, or otherwise, on behalf of a
beneficial owner, the Fund: (a) Will request that the financial
intermediary, or its agent, forward the 19(a) Notice to all beneficial
owners of the Fund's stock held through such financial intermediary;
(b) will provide, in a timely manner, to the financial intermediary, or
its agent, enough copies of the 19(a) Notice assembled in the form and
at the place that the financial intermediary, or its agent, reasonably
requests to facilitate the financial intermediary's sending of the
19(a) Notice to each beneficial owner of the Fund's stock; and (c) upon
the request of any financial intermediary, or its agent, that receives
copies of the 19(a) Notice, will pay the financial intermediary, or its
agent, the reasonable expenses of sending the 19(a) Notice to such
beneficial owners.
    5. Additional Board Determinations for Funds Whose Common Stock
Trades at a Premium.

If:

    (a) The Fund's common stock has traded on the stock exchange that
it primarily trades on at the time in question at an average premium to
NAV equal to or greater than 10%, as determined on the basis of the
average of the discount or premium to NAV of the Fund's common stock as
of the close of each trading day over a 12-week rolling period (each
such 12-week rolling period ending on the last trading day of each
week); and
    (b) The Fund's annualized distribution rate for such 12-week
rolling period, expressed as a percentage of NAV as of the ending date
of such 12-week rolling period, is greater than the Fund's average
annual total return in relation to the change in NAV over the 2-year
period ending on the last day of such 12-week rolling period; then:
    (i) At the earlier of the next regularly scheduled meeting or
within four months of the last day of such 12-week rolling period, the
Board, including a majority of the Independent Directors:
    (1) Will request and evaluate, and the Fund's Adviser will furnish,
such information as may be reasonably necessary to make an informed
determination of whether the Distribution Policy should be continued or
continued after amendment;
    (2) will determine whether continuation, or continuation after
amendment, of the Distribution Policy is consistent with the Fund's
investment objective and policies and is in the best interests of the
Fund and its stockholders, after considering the information in
condition 5(b)(i)(1) above; including, without limitation:
    (A) Whether the Distribution Policy is accomplishing its
purpose(s);
    (B) the reasonably foreseeable material effects of the Distribution
Policy on the Fund's long-term total return in relation to the market
price and NAV of the Fund's common stock; and
    (C) the Fund's current distribution rate, as described in condition
5(b) above, compared with the Fund's average annual taxable income or
total return over the 2-year period, as described in condition 5(b), or
such longer period as the Board deems appropriate; and
    (3) based upon that determination, will approve or disapprove the
continuation, or continuation after amendment, of the Distribution
Policy; and
    (ii) The Board will record the information considered by it,
including its consideration of the factors listed in condition
5(b)(i)(2) above, and the basis for its approval or disapproval of the
continuation, or continuation after amendment, of the Distribution
Policy in its meeting minutes, which must be made and preserved for a
period of not less than six years from the date of such meeting, the
first two years in an easily accessible place.
    6. Public Offerings. The Fund will not make a public offering of
the Fund's common stock other than:
    (a) A rights offering below NAV to holders of the Fund's common
stock;
    (b) an offering in connection with a dividend reinvestment plan,
merger, consolidation, acquisition, spin-off or reorganization of the
Fund; or
    (c) an offering other than an offering described in conditions 6(a)
and 6(b) above, provided that, with respect to such other offering:
    (i) The Fund's annualized distribution rate for the six months
ending on the last day of the month ended immediately prior to the most
recent distribution record date, expressed as a percentage of NAV per
share as of such date, is no more than 1 percentage point greater than
the Fund's average annual total return for the 5-year period ending on
such date; and
    (ii) the transmittal letter accompanying any registration statement
filed with the Commission in connection with such offering discloses
that the Fund has received an order under section 19(b) to permit it to
make periodic distributions of long-term capital gains with respect to
its common stock as frequently as twelve times each year, and as
frequently as distributions are specified by or determined in
accordance with the terms of any outstanding preferred stock as such
Fund may issue.
    7. Amendments to Rule 19b-1
    The requested order will expire on the effective date of any
amendments to rule 19b-1 that provide relief permitting certain closed-
end investment companies to make periodic distributions of long-term
capital gains with respect to their outstanding common stock as
frequently as twelve times each year.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-17775 Filed 7-28-14; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 112 (Tuesday, June 11, 2013)]
[Rules and Regulations]
[Pages 34918-34920]
[FR Doc No: 2013-13724]

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

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 62

[EPA-R05-OAR-2013-0372; FRL-9821-1]

Direct Final Approval of Sewage Sludge Incinerators State Plan
for Designated Facilities and Pollutants; Indiana

AGENCY: Environmental Protection Agency (EPA).

ACTION: Direct final rule.

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

SUMMARY: EPA is approving Indiana's State Plan to control air
pollutants from ``Sewage Sludge Incinerators'' (SSI). The Indiana
Department of Environmental Management (IDEM) submitted the State Plan
on February 27, 2013. The State Plan is consistent with the Emission
Guidelines (EGs) promulgated by EPA on March 21, 2011. This approval
means that EPA finds that the State Plan meets applicable Clean Air Act
(Act) requirements for subject SSI units. Once effective, this approval
also makes the State Plan Federally enforceable.

DATES: This direct final rule will be effective August 12, 2013, unless
EPA receives adverse comments by July 11, 2013. If adverse comments are
received, EPA will publish a timely withdrawal of the direct final rule
in the Federal Register informing the public that the rule will not
take effect.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-R05-
OAR-2013-0372, by one of the following methods:
    1. www.regulations.gov: Follow the on-line instructions for
submitting comments.
    2. Email<EMAIL_ADDRESS>    3. Fax:<PHONE_NUMBER>.
    4. Mail: Carlton T. Nash, Chief, Toxics and Global Atmosphere
Section, Air Toxics and Assessment Branch (AT-18J), U.S. Environmental
Protection Agency, 77 West Jackson Boulevard, Chicago, Illinois 60604.
    5. Hand Delivery: Carlton T. Nash, Chief, Toxics and Global
Atmosphere Section, Air Toxics and Assessment Branch (AT-18J), U.S.
Environmental Protection Agency, 77 West Jackson Boulevard, Chicago,
Illinois 60604. Such deliveries are only accepted during the Regional
Office normal hours of operation, and special arrangements should be
made for deliveries of boxed information. The Regional Office official
hours of business are Monday through Friday, 8:30 a.m. to 4:30 p.m.
excluding Federal holidays.
    Instructions: Direct your comments to Docket ID No. EPA-R05-OAR-
2013-0372. EPA's policy is that all comments received will be included
in the public docket without change and may be made available online at
www.regulations.gov, including any personal information provided,
unless the comment includes information claimed to be Confidential
Business Information (CBI) or other information whose disclosure is
restricted by statute. Do not submit information that you consider to
be CBI or otherwise protected through www.regulations.gov or email. The
www.regulations.gov Web site is an ``anonymous access'' system, which
means EPA will not know your identity or contact information unless you
provide it in the body of your comment. If you send an email comment
directly to EPA without going through www.regulations.gov your email
address will be automatically captured and included as part of the
comment that is placed in the public docket and made available on the
Internet. If you submit an electronic comment, EPA recommends that you
include your name and other contact information in the body of your
comment and with any disk or CD-ROM you submit. If EPA cannot read your
comment due to technical difficulties and cannot contact you for
clarification, EPA may not be able to consider your comment. Electronic
files should avoid the use of special characters, any form of
encryption, and be free of any defects or viruses.
    Docket: All documents in the docket are listed in the
www.regulations.gov index. Although listed in the index, some
information is not publicly available, e.g., CBI or other information
whose disclosure is restricted by statute. Certain other material, such
as copyrighted material, will be publicly available only in hard copy.
Publicly available docket materials are available either electronically
in www.regulations.gov or in hard copy at the Environmental Protection
Agency, Region 5, Air and Radiation Division, 77 West Jackson
Boulevard, Chicago, Illinois 60604. This Facility is open from 8:30
a.m. to 4:30 p.m., Monday through Friday, excluding Federal holidays.
We recommend that you telephone Margaret Sieffert, Environmental
Engineer, at<PHONE_NUMBER> before visiting the Region 5 office.

FOR FURTHER INFORMATION CONTACT: Margaret Sieffert, Environmental
Engineer, Environmental Protection Agency, Region 5, 77 West Jackson
Boulevard (AT-18J), Chicago, Illinois 60604,<PHONE_NUMBER>,
<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION: Throughout this document whenever ``we,''
``us,'' or ``our'' is used, we mean EPA. This supplementary information
section is arranged as follows:

I. Background
II. What Does the State plan contain?
III. Does the State Plan meet the EPA requirements?
IV. What action is EPA taking?
V. Statutory and Executive Order Reviews

I. Background

    On March 21, 2011, in accordance with sections 111 and 129 of the
Act, EPA promulgated SSI EGs and compliance schedules for the control
of emissions from existing SSI units. See 76 FR 15404. EPA codified
these guidelines at 40 CFR part 60, subpart MMMM. They include a model
rule at 40 CFR Sec. Sec.  60.5085 through 62.5250 that States may use
to develop their own plans. Under that rule, EPA has defined an ``SSI
unit,'' in part, as any device that combusts sewage sludge for the
purpose of reducing the volume of the sewage sludge by removing
combustible matter. 40 CFR 60.5250
    Under section 111(d) of the Act, EPA is required to develop
regulations for existing sources of noncriteria pollutants (i.e., a
pollutant for which there is no national ambient air quality standard)
whenever EPA promulgates a standard for a new source. This would
include SSIs. Section 111(d) plans are subject to EPA review and
approval.
    Under section 129(b)(2) of the Act and the EGs at subpart MMMM,
States with SSIs must submit to EPA plans that implement the EGs. The
plans must be at least as protective as the EGs, which are not
Federally enforceable until EPA approves them (or promulgates a Federal
Plan for implementation and enforcement).
    40 CFR part 60, subpart B contains general provisions applicable to
the adoption and submittal of State Plans for subject facilities under
section 111(d), which would include SSIs. On February 27, 2013, Indiana
submitted its SSI State Plan, which EPA received on March 1, 2013. This
submission followed public hearings for preliminary adoption of the
State rule on May 2, 2012 and for final adoption on August 1, 2012. The
State adopted the final rule on October 31, 2012 and it became
effective on November 1, 2012. The plan includes State rule 326 IAC 11-
10, which establishes emission standards for existing SSI.

II. What does the State Plan contain?

    The State submittal is based on the SSI EGs. As set forth in
section 129 of the Act and in 40 CFR part 60, subparts B and MMMM, the
State Plan addresses the nine minimum required elements, as follows:
    1. An inventory of affected SSI units, including those that have
ceased operation but have not been dismantled. Indiana has provided
this.
    2. An inventory of the emissions from affected SSI units. Indiana
has provided this.
    3. Compliance schedules for each affected SSI unit. Indiana has
provided a compliance schedule and a compliance date of December 21,
2015.
    4. Emission limits, emission standards, operator training and
qualification requirements and operating limits for affected SSI units
that are at least as protective as the EGs. Indiana has provided this.
    5. Performance testing, recordkeeping and reporting and
requirements. Indiana has provided this.
    6. Certification that the hearing on the state plan was held, a
list of witnesses and their organizational affiliations, if any,
appearing at the hearing, and a brief written summary of each
presentation or written submission. Indiana has provided this.
    7. A provision for State progress reports to EPA. Indiana has
stated that it will submit an annual report that will include updates
to the inventory, any enforcement activities and submission of copies
of technical reports on all performance testing on designated
facilities. The Air Facility System will be used to submit information
pertaining to emissions, inspections, status of compliance, dates of
performance testing, and enforcement actions.
    8. Identification of enforceable state mechanisms that the State
selected for implementing the EGs. Indiana has provided a detailed list
which identified the enforceable mechanisms.
    9. A demonstration of the State's legal authority to carry out the
SSI State Plan. Indiana has provided a detailed list which demonstrated
that it has such legal authority. This includes the legal authority to
incorporate by reference Federal emission guidelines provisions, as
confirmed by an Indiana Attorney General's Opinion letter dated
February 21, 2013.

III. Does the State Plan meet the EPA requirements?

    EPA evaluated the SSI State Plan and related information submitted
by Indiana for consistency with the Act, EPA regulations and policy.
For the reasons discussed above, EPA has determined that the State Plan
meets all applicable requirements and, therefore, is approving it.

IV. What action is EPA taking?

    EPA is approving the State Plan which Indiana submitted on February
27, 2013, for the control of emissions from existing SSI sources in the
State. EPA is publishing this approval notice without prior proposal
because the Agency views this as a non-controversial action and
anticipates no adverse comments. However, in the proposed rules section
of this Federal Register publication, EPA is publishing a separate
document that will serve as the proposal to approve the State Plan in
the event adverse written comments are filed. This rule will be
effective August 12, 2013 without further notice unless we receive
relevant adverse written comments by July 11, 2013. If we receive such
comments, we will withdraw this action before the effective date by
publishing a subsequent document that will withdraw the final action.
All public comments received will then be addressed in a subsequent
final rule based on the proposed action. EPA will not institute a
second comment period. Any parties interested in commenting on this
action should do so at this time. Please note that if EPA receives
adverse comment on an amendment, paragraph, or section of this rule and
if that provision may be severed from the remainder of the rule, EPA
may adopt as final those provisions of the rule that are not the
subject of an adverse comment. If we do not receive any comments, this
action will be effective August 12, 2013.

V. Statutory and Executive Order Reviews

A. General Requirements

    Under Executive Order 12866 (58 FR 51735, October 4, 1993), this
action is not a ``significant regulatory action'' and therefore is not
subject to review by the Office of Management and Budget. For this
reason, this action is also not subject to Executive Order 13211,
``Actions Concerning Regulations That Significantly Affect Energy
Supply, Distribution, or Use'' (66 FR 28355, May 22, 2001). This action
merely approves state law as meeting Federal requirements and imposes
no additional requirements beyond those imposed by state law.
Accordingly, the Administrator certifies that this rule will not have a
significant economic impact on a substantial number of small entities
under the Regulatory Flexibility Act (5 U.S.C. 601 et seq.). Because
this rule approves pre-existing requirements under state law and does
not impose any additional enforceable duty beyond that required by
state law, it does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4). This rule also does not
have tribal implications because it will not have a substantial direct
effect on one or more Indian tribes, on the relationship between the
Federal Government and Indian tribes, or on the distribution of power
and responsibilities between the Federal Government and Indian tribes,
as specified by Executive Order 13175 (65 FR 67249, November 9, 2000).
This action also does not have Federalism implications because it does
not have substantial direct effects on the States, on the relationship
between the national government and the States, or on the distribution
of power and responsibilities among the various levels of government,
as specified in Executive Order 13132 (64 FR 43255, August 10, 1999).
This action merely approves a state rule implementing a Federal
requirement, and does not alter the relationship or the distribution of
power and responsibilities established in the Act. This rule also is
not subject to Executive Order 13045 (62 FR 19885, April 23, 1997),
because it approves a state rule implementing a Federal standard.
    In reviewing section 111(d)/129 plan submissions, EPA's role is to
approve State choices, provided that they meet the criteria of the Act.
In this context, in the absence of a prior existing requirement for the
State to use voluntary consensus standards (VCS), EPA has no authority
to disapprove a section 111(d)/129 plan submission for failure to use
VCS. It would thus be inconsistent with applicable law for EPA, when it
reviews a section 111(d)/129 plan submission, to use VCS in place of a
section 111(d)/129 plan submission that otherwise satisfies the
provisions of the Act. Thus, the requirements of section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) do not apply. This rule does not impose an information collection
burden under the provisions of the Paperwork Reduction Act of 1995 (44
U.S.C. 3501 et seq.).

B. Submission to Congress and the Comptroller General

    The Congressional Review Act, 5 U.S.C. 801 et seq., as added by the
Small Business Regulatory Enforcement

Fairness Act of 1996, generally provides that before a rule may take
effect, the agency promulgating the rule must submit a rule report,
which includes a copy of the rule, to each House of the Congress and to
the Comptroller General of the United States. EPA will submit a report
containing this rule and other required information to the U.S. Senate,
the U.S. House of Representatives, and the Comptroller General of the
United States prior to publication of the rule in the Federal Register.
This rule is not a ``major rule'' as defined by 5 U.S.C. 804(2).

C. Petitions for Judicial Review

    Under Section 307(b)(1) of the Act, petitions for judicial review
of this action must be filed in the United States Court of Appeals for
the appropriate circuit by August 12, 2013. Filing a petition for
reconsideration by the Administrator of this final rule does not affect
the finality of this rule for the purposes of judicial review nor does
it extend the time within which a petition for judicial review may be
filed, and shall not postpone the effectiveness of such rule or action.
This action approving Indiana's section 111(d)/129 plan revision for
SSI sources may not be challenged later in proceedings to enforce its
requirements. (See section 307(b)(2).)

List of Subjects in 40 CFR Part 62

    Environmental protection, Air pollution control, Administrative
practice and procedure, Intergovernmental relations, Reporting and
recordkeeping requirements, Sewage sludge incinerators.

    Dated: May 28, 2013.
Susan Hedman,
Regional Administrator, Region 5.

    40 CFR part 62 is amended as follows:

PART 62--APPROVAL AND PROMULGATION OF STATE PLANS FOR DESIGNATED
FACILITIES AND POLLUTANTS

0
1. The authority citation for part 62 continues to read as follows:

    Authority: 42 U.S.C. 7401 et seq.

Subpart P--Indiana

0
2. Add an undesignated center heading and Sec. Sec.  62.3670, 62.3671,
and 62.3672 to subpart P to read as follows:

Control of Air Emissions From Sewage Sludge Incinerators

Sec.  62.3670  Identification of plan.

    On February 27, 2013, Indiana submitted a State Plan for
implementing the emission guidelines for Sewage Sludge Incinerators
(SSI). The enforceable mechanism for this State Plan is a State rule
codified in 326 Indiana Administrative Code (IAC) 11-10. The rule was
adopted on August 1, 2012, and became effective on November 1, 2012.

Sec.  62.3671  Identification of sources.

    The Indiana State Plan for existing Sewage Sludge Incinerators
(SSI) applies to all SSIs for which construction commenced on or before
October 14, 2010 or for which a modification was commenced on or before
September 21, 2011 primarily to comply with this rule.

Sec.  62.3672  Effective Date.

    The Federal effective date of the Indiana State Plan for existing
Sewage Sludge Incinerators is August 12, 2013.

[FR Doc. 2013-13724 Filed 6-10-13; 8:45 am]
BILLING CODE 6560-50-P


2030	$2,383	$22,251	2.1%	–0.3%	$0.0	$0.0

2031	$2,382	$22,208	2.0%	–0.3%	$0.0	$0.0

2032	$2,381	$22,170	2.0%	–0.3%	$0.0	$0.0

2033	$2,379	$22,135	2.0%	–0.3%	$0.0	$0.0

2034	$2,377	$22,103	2.0%	–0.3%	$0.0	$0.0

2035	$2,375	$22,072	2.0%	–0.3%	$0.0	$0.0

2036	$2,392	$22,063	2.0%	–0.3%	$0.0	$0.0

2037	$2,390	$22,039	2.0%	–0.3%	$0.0	$0.0

2038	$2,388	$22,019	2.0%	–0.3%	$0.0	$0.0

2039	$2,385	$22,003	2.0%	–0.3%	$0.0	$0.0

2040	$2,382	$21,990	2.0%	–0.3%	$0.0	$0.0

NPV at 3%

	$0.4	–$0.3

NPV at 7%	 	 	 	 	$0.2	–$0.2

a	Figures are in 2005 dollars.

b	Net present values for 2006 are calculated using a social discount rate of 3% and 7% over the 2007 to 2040 time period.

Table B-48. Impact on C1 Other Commercial Vessel Market: >2,000 hp (Average Price per Vessel = $2,100,000)a,b

Year	Variable Engineering Cost/Unit	Absolute Change

in Price

($)	Change

in Price

(%)	Change

in Quantity

(%)	Total

Engineering Costs

(million $)	Change in Equipment  Manufacturers’ Surplus (million $)

2007	$0	$0	0.0%	0.0%	$0.0	$0.0

2008	$0	$0	0.0%	0.0%	$0.0	$0.0

2009	$0	$0	0.0%	0.0%	$0.0	$0.0

2010	$0	$0	0.0%	0.0%	$0.0	$0.0

2011	$0	$0	0.0%	0.0%	$0.0	$0.0

2012	$0	$0	0.0%	0.0%	$0.0	$0.0

2013	$0	$0	0.0%	0.0%	$0.0	$0.0

2014	$0	–$38	0.0%	0.0%	$0.0	$0.0

2015	$0	–$74	0.0%	0.0%	$0.0	$0.0

2016	$4,692	$49,587	2.4%	–0.1%	$0.0	$0.0

2017	$4,650	$49,428	2.4%	–0.1%	$0.0	$0.0

2018	$4,673	$38,652	1.8%	–0.1%	$0.0	$0.0

2019	$4,694	$38,519	1.8%	–0.1%	$0.0	$0.0

2020	$4,653	$38,325	1.8%	–0.1%	$0.0	$0.0

2021	$4,673	$38,192	1.8%	–0.1%	$0.0	$0.0

2022	$4,693	$38,061	1.8%	–0.2%	$0.0	$0.0

2023	$4,652	$38,000	1.8%	–0.2%	$0.0	$0.0

2024	$4,671	$37,870	1.8%	–0.2%	$0.0	$0.0

2025	$4,689	$37,739	1.8%	–0.2%	$0.0	$0.0

2026	$4,647	$37,551	1.8%	–0.2%	$0.0	$0.0

2027	$4,665	$37,424	1.8%	–0.2%	$0.0	$0.0

2028	$4,682	$37,299	1.8%	–0.3%	$0.0	$0.0

2029	$4,698	$37,310	1.8%	–0.3%	$0.0	$0.0

2030	$4,656	$37,145	1.8%	–0.3%	$0.0	$0.0

2031	$4,672	$37,047	1.8%	–0.3%	$0.0	$0.0

2032	$4,686	$36,957	1.8%	–0.3%	$0.0	$0.0

2033	$4,645	$36,934	1.8%	–0.3%	$0.0	$0.0

2034	$4,659	$36,850	1.8%	–0.3%	$0.0	$0.0

2035	$4,672	$36,767	1.8%	–0.3%	$0.0	$0.0

2036	$4,685	$36,803	1.8%	–0.3%	$0.0	$0.0

2037	$4,697	$36,727	1.7%	–0.3%	$0.0	$0.0

2038	$4,655	$36,719	1.7%	–0.3%	$0.0	$0.0

2039	$4,667	$36,654	1.7%	–0.3%	$0.0	$0.0

2040	$4,678	$36,595	1.7%	–0.3%	$0.0	$0.0

NPV at 3%

	$0.2	–$0.1

NPV at 7%	 	 	 	 	$0.1	–$0.1

a	Figures are in 2005 dollars.

b	Net present values for 2006 are calculated using a social discount rate of 3% and 7% over the 2007 to 2040 time period.

Table B-49. Impact on C2 Other Commercial Vessel Market: 800–2,000 hp (Average Price per Vessel = $1,610,000)a,b

Year	Variable Engineering Cost/Unit	Absolute Change

in Price

($)	Change

in Price

(%)	Change

in Quantity

(%)	Total

Engineering Costs

(million $)	Change in Equipment  Manufacturers’ Surplus (million $)

2007	$0	$0	0.0%	0.0%	$0.0	$0.0

2008	$0	$0	0.0%	0.0%	$0.0	$0.0

2009	$0	$0	0.0%	0.0%	$0.0	$0.0

2010	$0	$0	0.0%	0.0%	$0.0	$0.0

2011	$0	$0	0.0%	0.0%	$0.0	$0.0

2012	$0	$0	0.0%	0.0%	$0.0	$0.0

2013	$0	$0	0.0%	0.0%	$0.0	$0.0

2014	$0	–$33	0.0%	0.0%	$0.0	$0.0

2015	$0	–$65	0.0%	0.0%	$0.0	$0.0

2016	$3,950	$138,883	8.6%	–0.1%	$0.0	$0.0

2017	$3,915	$138,627	8.6%	–0.1%	$0.0	$0.0

2018	$3,880	$106,460	6.6%	–0.1%	$0.0	$0.0

2019	$3,846	$106,204	6.6%	–0.1%	$0.0	$0.0

2020	$3,811	$105,954	6.6%	–0.1%	$0.0	$0.0

2021	$3,777	$105,710	6.6%	–0.1%	$0.0	$0.0

2022	$4,118	$105,841	6.6%	–0.2%	$0.0	$0.0

2023	$4,081	$105,601	6.6%	–0.2%	$0.0	$0.0

2024	$4,045	$105,363	6.5%	–0.2%	$0.0	$0.0

2025	$4,009	$105,131	6.5%	–0.2%	$0.0	$0.0

2026	$3,973	$104,904	6.5%	–0.2%	$0.0	$0.0

2027	$3,938	$105,987	6.6%	–0.2%	$0.0	$0.0

2028	$3,902	$105,757	6.6%	–0.3%	$0.0	$0.0

2029	$3,868	$105,537	6.6%	–0.3%	$0.0	$0.0

2030	$3,833	$105,334	6.5%	–0.3%	$0.0	$0.0

2031	$3,799	$105,138	6.5%	–0.3%	$0.0	$0.0

2032	$4,107	$105,296	6.5%	–0.3%	$0.0	$0.0

2033	$4,071	$105,115	6.5%	–0.3%	$0.0	$0.0

2034	$4,034	$104,937	6.5%	–0.3%	$0.0	$0.0

2035	$3,998	$104,764	6.5%	–0.3%	$0.0	$0.0

2036	$3,963	$104,598	6.5%	–0.3%	$0.0	$0.0

2037	$3,927	$104,441	6.5%	–0.3%	$0.0	$0.0

2038	$3,892	$104,293	6.5%	–0.3%	$0.0	$0.0

2039	$3,858	$104,153	6.5%	–0.3%	$0.0	$0.0

2040	$3,823	$104,016	6.5%	–0.3%	$0.0	$0.0

NPV at 3%

	$0.0	$0.0

NPV at 7%	 	 	 	 	$0.0	$0.0

a	Figures are in 2005 dollars.

b	Net present values for 2006 are calculated using a social discount rate of 3% and 7% over the 2007 to 2040 time period.

Table B-50. Impact on C2 Other Commercial Vessel Market: >2,000 hp (Average Price per Vessel = $3,150,000)a,b

Year	Variable Engineering Cost/Unit	Absolute Change

in Price

($)	Change

in Price

(%)	Change

in Quantity

(%)	Total

Engineering Costs

(million $)	Change in Equipment  Manufacturers’ Surplus (million $)

2007	$0	$0	0.0%	0.0%	$0.0	$0.0

2008	$0	$0	0.0%	0.0%	$0.0	$0.0

2009	$0	$0	0.0%	0.0%	$0.0	$0.0

2010	$0	$0	0.0%	0.0%	$0.0	$0.0

2011	$0	$0	0.0%	0.0%	$0.0	$0.0

2012	$0	$0	0.0%	0.0%	$0.0	$0.0

2013	$0	$0	0.0%	0.0%	$0.0	$0.0

2014	$0	–$66	0.0%	0.0%	$0.0	$0.0

2015	$0	–$131	0.0%	0.0%	$0.1	–$0.1

2016	$7,111	$218,447	6.9%	–0.1%	$0.0	$0.0

2017	$7,145	$218,275	6.9%	–0.1%	$0.0	$0.0

2018	$7,178	$167,718	5.3%	–0.1%	$0.0	$0.0

2019	$7,114	$167,391	5.3%	–0.1%	$0.0	$0.0

2020	$7,146	$167,165	5.3%	–0.1%	$0.0	$0.0

2021	$7,177	$166,944	5.3%	–0.1%	$0.0	$0.0

2022	$7,113	$166,633	5.3%	–0.2%	$0.0	$0.0

2023	$7,142	$166,422	5.3%	–0.2%	$0.0	$0.0

2024	$7,170	$166,216	5.3%	–0.2%	$0.0	$0.0

2025	$7,197	$166,016	5.3%	–0.2%	$0.0	$0.0

2026	$7,133	$165,732	5.3%	–0.2%	$0.0	$0.0

2027	$7,159	$165,545	5.3%	–0.2%	$0.0	$0.0

2028	$7,184	$165,366	5.2%	–0.3%	$0.0	$0.0

2029	$7,120	$165,120	5.2%	–0.3%	$0.0	$0.0

2030	$7,144	$164,982	5.2%	–0.3%	$0.0	$0.0

2031	$7,166	$164,863	5.2%	–0.3%	$0.0	$0.0

2032	$7,188	$164,761	5.2%	–0.3%	$0.0	$0.0

2033	$7,124	$164,583	5.2%	–0.3%	$0.0	$0.0

2034	$7,144	$164,498	5.2%	–0.3%	$0.0	$0.0

2035	$7,164	$164,420	5.2%	–0.3%	$0.0	$0.0

2036	$7,182	$164,350	5.2%	–0.3%	$0.0	$0.0

2037	$7,118	$164,213	5.2%	–0.3%	$0.0	$0.0

2038	$7,136	$164,170	5.2%	–0.3%	$0.0	$0.0

2039	$7,153	$164,141	5.2%	–0.3%	$0.0	$0.0

2040	$7,169	$164,122	5.2%	–0.3%	$0.0	$0.0

NPV at 3%

	$0.2	–$0.2

NPV at 7%	 	 	 	 	$0.1	–$0.1

a	Figures are in 2005 dollars.

b	Net present values for 2006 are calculated using a social discount rate of 3% and 7% over the 2007 to 2040 time period.

Table C-1. Impact on Railroad Transportation Services Market

Year	Change

in Price

(%)	Change

in Quantity

(%)	Total

Engineering Costs

(million $)	Change in Service

Consumer Surplus

(million $)	Change in Service

Provider Surplus

(million $)	Change in

Total Surplus

(million $)

2007	0.0%	0.0%	$0.0	$0.0	$0.0	$0.0

2008	0.1%	0.0%	$58.0	–$31.5	–$26.3	–$57.8

2009	0.0%	0.0%	$34.5	–$18.8	–$15.6	–$34.4

2010	0.1%	0.0%	$55.3	–$30.1	–$25.0	–$55.1

2011	0.1%	–0.1%	$104.8	–$57.0	–$47.5	–$104.4

2012	0.1%	0.0%	$84.0	–$45.6	–$38.0	–$83.7

2013	0.1%	0.0%	$74.4	–$40.4	–$33.7	–$74.1

2014	0.1%	0.0%	$52.6	–$28.6	–$23.8	–$52.4

2015	0.1%	0.0%	$44.0	–$45.9	–$38.3	–$84.2

2016	0.1%	–0.1%	$74.5	–$63.5	–$52.9	–$116.4

2017	0.1%	–0.1%	$72.0	–$75.2	–$62.6	–$137.8

2018	0.2%	–0.1%	$86.5	–$83.8	–$69.9	–$153.7

2019	0.2%	–0.1%	$93.3	–$84.2	–$70.2	–$154.4

2020	0.1%	–0.1%	$81.4	–$78.9	–$65.8	–$144.7

2021	0.2%	–0.1%	$95.7	–$87.9	–$73.2	–$161.1

2022	0.2%	–0.1%	$131.0	–$108.1	–$90.0	–$198.1

2023	0.3%	–0.1%	$189.9	–$140.9	–$117.4	–$258.3

2024	0.3%	–0.1%	$192.1	–$142.6	–$118.9	–$261.5

2025	0.3%	–0.1%	$210.4	–$153.4	–$127.9	–$281.3

2026	0.3%	–0.1%	$210.9	–$154.3	–$128.5	–$282.8

2027	0.3%	–0.1%	$226.1	–$163.2	–$136.0	–$299.1

2028	0.3%	–0.2%	$255.7	–$179.7	–$149.8	–$329.5

2029	0.3%	–0.2%	$271.2	–$188.5	–$157.1	–$345.6

2030	0.3%	–0.2%	$284.5	–$195.9	–$163.3	–$359.2

2031	0.3%	–0.2%	$298.5	–$204.0	–$170.0	–$374.0

2032	0.4%	–0.2%	$308.3	–$209.8	–$174.8	–$384.6

2033	0.4%	–0.2%	$378.4	–$248.0	–$206.7	–$454.7

2034	0.4%	–0.2%	$401.3	–$260.8	–$217.3	–$478.1

2035	0.4%	–0.2%	$422.5	–$272.4	–$227.0	–$499.5

2036	0.4%	–0.2%	$429.0	–$274.7	–$228.9	–$503.7

2037	0.5%	–0.2%	$445.1	–$282.6	–$235.5	–$518.0

2038	0.5%	–0.2%	$460.8	–$290.1	–$241.8	–$531.9

2039	0.5%	–0.2%	$476.4	–$297.5	–$247.9	–$545.4

2040	0.5%	–0.2%	$491.3	–$304.3	–$253.6	–$557.9

NPV at 3%

	$3,457.2	–$2,387.2	–$1,989.3	–$4,376.5

NPV at 7%

	$1,514.5	–$1,054.0	–$878.4	–$1,932.4

a	Figures are in 2005 dollars.

b	Net present values for 2006 are calculated using a social discount rate of 3% and 7% over the 2007 to 2040 time period.

Table C-2.  Impact on Marine Transportation Services Market

Year	Change

in Price

(%)	Change

in Quantity

(%)	Total

Engineering Costs

(million $)	Change in Service

Consumer Surplus

(million $)	Change in Service

Provider Surplus

(million $)	Change in

Total Surplus

(million $)

2007	0.0%	0.0%	$0.0	$0.0	$0.0	$0.0

2008	0.0%	0.0%	$0.0	$0.0	$0.0	$0.0

2009	0.0%	0.0%	$0.0	$0.0	$0.0	$0.0

2010	0.0%	0.0%	$0.0	$0.0	$0.0	$0.0

2011	0.0%	0.0%	$0.0	$0.0	$0.0	$0.0

2012	0.0%	0.0%	$0.0	$0.0	$0.0	$0.0

2013	0.0%	0.0%	$0.0	$0.0	$0.0	$0.0

2014	0.0%	0.0%	$2.8	–$1.4	–$1.2	–$2.7

2015	0.1%	0.0%	$5.6	–$2.9	–$2.4	–$5.3

2016	0.6%	–0.3%	$14.8	–$24.1	–$20.1	–$44.1

2017	0.7%	–0.3%	$23.9	–$28.9	–$24.1	–$53.0

2018	0.7%	–0.4%	$36.0	–$31.5	–$26.3	–$57.8

2019	0.9%	–0.4%	$48.0	–$37.9	–$31.6	–$69.4

2020	1.0%	–0.5%	$60.0	–$44.1	–$36.8	–$80.9

2021	1.1%	–0.6%	$72.0	–$50.4	–$42.0	–$92.4

2022	1.3%	–0.6%	$83.9	–$56.6	–$47.2	–$103.8

2023	1.4%	–0.7%	$95.7	–$62.8	–$52.3	–$115.2

2024	1.5%	–0.8%	$107.5	–$68.9	–$57.5	–$126.4

2025	1.6%	–0.8%	$119.1	–$75.0	–$62.5	–$137.5

2026	1.7%	–0.9%	$130.6	–$81.0	–$67.5	–$148.6

2027	1.8%	–0.9%	$141.9	–$87.0	–$72.5	–$159.4

2028	2.0%	–1.0%	$153.0	–$92.8	–$77.3	–$170.0

2029	2.0%	–1.0%	$163.3	–$98.1	–$81.8	–$179.9

2030	2.1%	–1.1%	$172.6	–$103.0	–$85.9	–$188.9

2031	2.2%	–1.1%	$181.2	–$107.5	–$89.6	–$197.1

2032	2.3%	–1.1%	$189.0	–$111.7	–$93.0	–$204.7

2033	2.3%	–1.2%	$196.4	–$115.6	–$96.3	–$211.9

2034	2.4%	–1.2%	$203.6	–$119.4	–$99.5	–$218.8

2035	2.4%	–1.2%	$210.4	–$123.0	–$102.5	–$225.4

2036	2.5%	–1.2%	$216.9	–$126.4	–$105.4	–$231.8

2037	2.5%	–1.3%	$222.7	–$129.5	–$107.9	–$237.5

2038	2.5%	–1.3%	$227.9	–$132.3	–$110.3	–$242.6

2039	2.6%	–1.3%	$232.4	–$134.8	–$112.3	–$247.0

2040	2.6%	–1.3%	$236.3	–$136.9	–$114.1	–$251.0

NPV at 3%

	$1,648.3	–$1,033.3	–$861.1	–$1,894.4

NPV at 7%	 	 	$646.4	–$417.1	–$347.6	–$764.7

a	Figures are in 2005 dollars.

b	Net present values for 2006 are calculated using a social discount rate of 3% and 7% over the 2007 to 2040 time period.

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