[Federal Register Volume 86, Number 213 (Monday, November 8, 2021)]
[Notices]
[Pages 61830-61837]
[FR Doc No: 2021-24300]

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DEPARTMENT OF TRANSPORTATION

Federal Railroad Administration

[Docket No. FRA-2021-0006-N-15]

Proposed Agency Information Collection Activities; Comment
Request

AGENCY: Federal Railroad Administration (FRA), U.S. Department of
Transportation (DOT).

ACTION: Notice of information collection; request for comment.

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SUMMARY: Under the Paperwork Reduction Act of 1995 (PRA) and its
implementing regulations, FRA seeks approval of the Information
Collection Request (ICR) abstracted below. Before submitting this ICR
to the Office of Management and Budget (OMB) for approval, FRA is
soliciting public comment on specific aspects of the activities
identified in the ICR.

DATES: Interested persons are invited to submit comments on or before
January 7, 2022.

ADDRESSES: Written comments and recommendations for the proposed ICR
should be submitted on regulations.gov to the docket, Docket No. FRA-
2021-0006. All comments received will be posted without change to the
docket, including any personal information provided. Please refer to
the assigned OMB control number in any correspondence submitted. FRA
will summarize comments received in response to this notice in a
subsequent notice and include them in its information collection
submission to OMB for approval.

FOR FURTHER INFORMATION CONTACT: Ms. Hodan Wells, Information
Collection Clearance Officer, at email: [email protected] or
telephone:<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: The PRA, 44 U.S.C. 3501-3520, and its
implementing regulations, 5 CFR part 1320, require Federal agencies to
provide 60-days' notice to the public to allow comment on information
collection activities before seeking OMB approval of the activities.
See 44 U.S.C. 3506, 3507; 5 CFR 1320.8 through 1320.12. Specifically,
FRA invites interested parties to comment on the following ICR
regarding: (1) Whether the

information collection activities are necessary for FRA to properly
execute its functions, including whether the activities will have
practical utility; (2) the accuracy of FRA's estimates of the burden of
the information collection activities, including the validity of the
methodology and assumptions used to determine the estimates; (3) ways
for FRA to enhance the quality, utility, and clarity of the information
being collected; and (4) ways for FRA to minimize the burden of
information collection activities on the public, including the use of
automated collection techniques or other forms of information
technology. See 44 U.S.C. 3506(c)(2)(A); 5 CFR 1320.8(d)(1).
    FRA believes that soliciting public comment may reduce the
administrative and paperwork burdens associated with the collection of
information that Federal regulations mandate. In summary, FRA reasons
that comments received will advance three objectives: (1) Reduce
reporting burdens; (2) organize information collection requirements in
a ``user-friendly'' format to improve the use of such information; and
(3) accurately assess the resources expended to retrieve and produce
information requested. See 44 U.S.C. 3501.
    The summary below describes the ICR that FRA will submit for OMB
clearance as the PRA requires:
    Title: Passenger Equipment Safety Standards.
    OMB Control Number: 2130-0544.
    Abstract: The information collection under 49 CFR part 238 is used
by FRA to promote passenger train safety by ensuring requirements are
met for railroad equipment design and performance, fire safety,
emergency systems, inspection, testing, and maintenance, and other
provisions for the safe operation of railroad passenger equipment. For
instance, the information collected from daily inspections is used to
detect and correct equipment problems in order to prevent, to the
extent that they can be prevented, collisions, derailments, and other
occurrences involving railroad passenger equipment that cause injury or
death to railroad employees, railroad passengers, or to the general
public.
    Upon detailed review of part 238, FRA made several adjustments to
its estimated paperwork burdens in this ICR extension.\1\ As noted in
the PRA table below, FRA determined that many estimated paperwork
burdens were either outdated or accounted for in other regulatory
sections. Additionally, FRA found the associated burdens related to
train equipment inspection and testing, as well as employee training
and job briefings have been addressed previously when FRA calculated
the economic costs of the regulation. FRA also notes below where it
anticipates zero railroad submissions during this 3-year ICR period.
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    \1\ The public can view any and all estimate adjustments to
FRA's active ICRs in the Supporting Statements published at https://www.reginfo.gov/public/. The Supporting Statement for this ICR will
be available after the 30-Day Federal Register notice is published
in reginfo.gov.
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    Type of Request: Extension without change (with changes in
estimates) of a currently approved collection.
    Affected Public: Businesses.
    Form(s): N/A.
    Respondent Universe: 34 railroads and manufacturers.
    Frequency of Submission: On occasion.

                                                Reporting Burden
----------------------------------------------------------------------------------------------------------------
                                  Respondent      Total annual     Average time    Total annual     Total cost
       CFR Section \2\             universe        responses      per responses    burden hours   equivalent \3\
----------------------------------------------------------------------------------------------------------------
229.47(a)-(b)--Emergency                  FRA anticipates zero submissions for stencils and markings.
 Brake Valve--Marking brake
 pipe valve as such.
                              ----------------------------------------------------------------------------------
238.7--Waivers...............  34 railroads...  12 waivers.....  6 hours........           72.00       $5,575.68
238.15(b)--Movement of         34 railroads...  1,000 tags.....  3 minutes......           50.00        3,872.00
 passenger equipment with
 power brake defects--
 Limitations on movement of
 passenger equipment
 containing a power brake
 defect at the time a Class I
 or IA brake test is
 performed--Passenger
 equipment tagged or
 information is recorded as
 prescribed under Sec.
 238.18(c)(2).
    --(c) Limitations on       34 railroads...  288 tags.......  3 minutes......           14.40        1,115.14
     movement of passenger
     equipment in passenger
     service that becomes
     defective en route after
     a Class I or IA brake
     test--Tagging of
     defective equipment.
    --(c)(4) Conditional         Duplicate estimate removed. The estimated paperwork burden for this regulatory
     requirement--Notice                       requirement is covered under Sec.   238.15(a)-(b).
     between employees.
                              ----------------------------------------------------------------------------------
238.17--Movement of passenger  34 railroads...  200 tags.......  3 minutes......           10.00          774.40
 equipment with other than
 power brake defects--Tagging
 of defective equipment.
    --(e) Special requisites     Duplicate estimate removed. The estimated paperwork burden for this regulatory
     for movement of                               requirement is covered under Sec.   238.17.
     passenger equipment with
     safety appliance defects.
                              ----------------------------------------------------------------------------------
    --(e)(4) Crew member         Duplicate estimate removed. The estimated paperwork burden for this regulatory
     notifications.                                requirement is covered under Sec.   238.17.
                              ----------------------------------------------------------------------------------
    238.19(b)-(c)--Reporting       FRA determined, since the 1990s, retention and availability of records for
     and tracking defective     reporting and tracking defective passenger equipment are handled by the railroad
     passenger equipment--                    industry as part of their normal business operations.
     Retention or
     availability of records.
                              ----------------------------------------------------------------------------------

    --(d) List of power brake    This ICR only affects Amtrak, which has submitted the necessary list of power
     repair points.             brake repair points. FRA does not anticipate any changes or updates to this list
                                 over the next few years. Consequently, there is no burden associated with this
                                                                  requirement.
                              ----------------------------------------------------------------------------------
238.21(b)--Special approval    34 railroads...  1 petition.....  16 hours.......           16.00        1,239.04
 procedure--Petitions for
 special approval of
 alternative standard.
    --(c) Petitions for        34 railroads...  1 petition.....  40 hours.......           40.00        3,097.60
     special approval of
     alternative compliance.
    --(f) Comments on          Manufacturers..  2 comments.....  1 hour.........            2.00          154.88
     petitions.                and public.....
238.103(c)--Fire safety        1 new railroad.  1 analysis.....  150 hours......          150.00       11,616.00
 analysis for procuring new
 passenger cars and
 locomotives.
    --(d) Fire safety          34 railroads...  1 revised        10 hours.......           10.00          774.40
     analysis for existing                       analysis.
     passenger cars and
     locomotives--Revised
     Fire Safety Analysis for
     leased or transferred
     equipment.
238.105--Train electronic      1 new railroad.  1 program plan.  150 hours......          150.00       11,616.00
 hardware and software
 safety--New railroads.
238.107--Inspection, testing,  1 new railroad.  1 maintenance    150 hours......          150.00            0.00
 and maintenance plan--                          plan.
 Development of maintenance
 plan for new railroads.
    --(c) Inspection,          34 railroads...  34 maintenance   20 hours.......          680.00       52,659.20
     testing, and maintenance                    plan reviews.
     plan for existing
     railroads--Maintenance
     plan review.
    238.109(b)--Training,      1 new railroad.  1 training       160 hours......          160.00            0.00
     qualification, and                          program.
     designation program--
     Development of training
     program/curriculum for
     new railroads.
                              ----------------------------------------------------------------------------------
    --(b) Training employees   The associated burdens relating to the training of employees and supervisors have
     and supervisors.                been addressed previously when FRA calculated the economic costs of the
                                                                   regulation.
                              ----------------------------------------------------------------------------------
    --(b)(13) Recordkeeping--  34 railroads...  488 records....  3 minutes......           24.40        1,889.54
     Employees and trainers--
     Training qualifications.
238.111(a)--Pre-revenue        34 railroads...  1 plan.........  16 hours.......           16.00        1,239.04
 service acceptance testing
 plan: Passenger equipment
 that has previously been
 used in service in the U.S..
    --(b) Passenger equipment  34 railroads...  1 plan.........  192 hours......          192.00       14,868.48
     that has not been
     previously used in
     revenue service in the
     U.S.
                              ----------------------------------------------------------------------------------
    --(b) Subsequent             Duplicate estimate removed. The estimated paperwork burden for this regulatory
     equipment orders.                    requirement is covered above under Sec.   238.111(a) and (b).
                              ----------------------------------------------------------------------------------
    --(b)(4) Tier II & Tier    1 railroad.....  1 letter.......  4 hours........            4.00          309.76
     III passenger equipment:
     Report of test results
     to FRA.
----------------------------------------------------------------------------------------------------------------
    --(b)(7) and (c) Plan            In the past 20 years, FRA only received 1 modification plan. Thus, FRA
     submitted to FRA for                   anticipates zero modified plans in the next three years.
     Tier II or Tier III
     equipment before being
     placed in service.
                              ----------------------------------------------------------------------------------
238.131--Exterior side door    1 new railroad.  1 analysis.....  80 hours.......           80.00        6,195.20
 safety systems--New
 passenger cars/locomotives
 used in passenger service--
 Failure Modes, Effects,
 Criticality Analysis (FMECA).
238.133(a)--Exterior side      1 new railroad.  1 plan.........  4 hours........            4.00          309.76
 door safety systems--
 Passenger cars and
 locomotives used in a
 passenger service--By-pass
 device verification--
 Functional test plans.
                              ----------------------------------------------------------------------------------
    --(b) Unsealed door by-        The associated burdens related to safety job briefings have been addressed
     pass device--                    previously when FRA calculated the economic costs of the regulation.
     Notification to
     railroad's designated
     authority by train
     crewmember of unsealed
     door by-pass device.
                              ----------------------------------------------------------------------------------

    --(c) En route failure--   34 railroads...  100 topic-       2 minutes......            3.33          257.88
     Safety briefing by train                    specific
     crew when door by-pass                      briefings and
     device is activated.                        notifications.
                              ----------------------------------------------------------------------------------
    --(c) Notification to        Duplicate estimate removed. The estimated paperwork burden for this regulatory
     designated RR authority              requirement is already covered above under Sec.   238.133(c).
     by train crewmember that
     door by-pass device has
     been activated.
                              ----------------------------------------------------------------------------------
    --(c)(1) On-site             Duplicate estimate removed. The estimated paperwork burden for this regulatory
     qualified person (QP)                requirement is already covered above under Sec.   238.133(c).
     description to a
     qualified maintenance
     person (QMP) off-site
     that equipment is safe
     to move for repairs.
                              ----------------------------------------------------------------------------------
    --(c)(2) QP/QMP              Duplicate estimate removed. The estimated paperwork burden for this regulatory
     notification to                      requirement is already covered above under Sec.   238.133(c).
     crewmember in charge
     that door by-pass has
     been activated and
     safety briefing by train
     crew.
                              ----------------------------------------------------------------------------------
    --(d) Records............  34 railroads...  100 records....  2 minutes......            3.33          257.88
                              ----------------------------------------------------------------------------------
    --(d) Records of             Duplicate estimate removed. The estimated paperwork burden for this regulatory
     unintended opening of a              requirement is already covered above under Sec.   238.133(d).
     powered exterior side
     door.
                              ----------------------------------------------------------------------------------
    --(g)(2) RR record of by-    Duplicate estimate removed. The burden for this requirement is already covered
     pass activations found                              above under Sec.   238.133(d).
     unsealed.
                              ----------------------------------------------------------------------------------
238.135(a)(1)--Operating           The associated burdens related to daily job briefings have been addressed
 practices for exterior side          previously when FRA calculated the economic costs of the regulation.
 door safety systems--Daily
 job briefings.
                              ----------------------------------------------------------------------------------
    --(c) Railroads' request     Duplicate estimate removed. The estimated paperwork burden for this regulatory
     to FRA for special           requirement is already covered above under Sec.   238.7 or Sec.   238.21 for
     consideration to operate                            purposes of this analysis only.
     passenger trains with
     exterior side doors or
     trap doors, or both,
     open between stations.
                              ----------------------------------------------------------------------------------
    --(c)(4) Railroads'          Duplicate estimate removed. The estimated paperwork burden for this regulatory
     response to FRA request      requirement is already covered above under Sec.   238.7 or Sec.   238.21 for
     for additional                                      purposes of this analysis only.
     information concerning
     special consideration
     request.
                              ----------------------------------------------------------------------------------
    --(d) Operating rules on   1 new railroad.  1 operating      8 hours........            8.00          619.52
     how to safely override a                    rule.
     door summary circuit or
     no-motion system, or
     both, in the event of an
     en route exterior side
     door failure or
     malfunction on a
     passenger train (Note:
     Includes burden under
     Sec.   238.137).
                              ----------------------------------------------------------------------------------
    --(d) Railroads to             Railroads were required to complete the requirements of this subsection by
     provide a copy of                         December 6, 2018, so the estimated burden is zero.
     written operating rules
     to train crew members
     and control center
     personnel.
                              ----------------------------------------------------------------------------------
    --(e) Railroads' training   The associated burdens relating to the training of train crew members have been
     of train crew members on    addressed previously when FRA calculated the economic costs of the regulation.
     requirements of this       FRA estimates the paperwork burdens associated with training recordkeeping under
     section.                        Sec.   238.109 or under the OMB control numbers 2130-0596 or 2130-0533.
                              ----------------------------------------------------------------------------------
    --(e) Railroads' training      The associated burdens relating to the training of new employees have been
     of new employees.           addressed previously when FRA calculated the economic costs of the regulation.
                                   FRA estimates the burdens associated with training recordkeeping under Sec.
                                        238.109 or under the OMB control numbers 2130-0596 or 2130-0533.
                              ----------------------------------------------------------------------------------
    --(g) RR operational/           The associated burdens relating to operational testing or observation of
     efficiency tests of             operating crewmembers and control center personnel have been previously
     train crew members &              addressed when FRA calculated the economic costs of the regulation.
     control center employees.
                              ----------------------------------------------------------------------------------

    238.201(b)--Scope/           Duplicate estimate removed. The estimated paperwork burden for this regulatory
     alternative compliance--               requirement is already covered above under Sec.   238.21.
     Supporting documentation
     demonstrating compliance.
                              ----------------------------------------------------------------------------------
    --(b) Notice of tests        Duplicate estimate removed. The estimated paperwork burden for this regulatory
     sent to FRA 30 days                requirement is already covered above under Sec.   238.111(b)(4).
     prior to commencement of
     operations.
                              ----------------------------------------------------------------------------------
238.229(c)--Safety             1 new railroad.  1 list.........  1 hour.........            1.00           77.44
 appliances--Welded safety
 appliances--Written lists
 submitted to FRA by the
 railroads.
    --(d) Defective welded     34 railroads...  4 tags.........  3 minutes......             .20           11.98
     safety appliance or
     welded safety appliance
     bracket or support--
     Tagging.
    --(d) Notification to      34 railroads...  2 notices......  1 minute.......             .03            2.32
     crewmembers about non-
     compliant equipment.
    --(g) Inspection plans...  1 new railroad.  1 plan.........  16 hours.......           16.00        1,239.04
                              ----------------------------------------------------------------------------------
    --(h) Inspection             The associated burdens relating to training of inspection personnel have been
     personnel--Training.        addressed previously when FRA calculated the economic costs of the regulation.
                                  FRA estimates the paperwork burdens associated with the retention of training
                                                          records under Sec.   238.109.
                              ----------------------------------------------------------------------------------
    --(j)(1)(iv) Remedial        The associated burdens relating to inspections have been addressed previously
     action: Defect/crack in       when FRA calculated the economic costs of the regulation. FRA estimates the
     weld--A record of the      paperwork burdens associated with the retention of inspection records under Sec.
     welded repair.                                                 238.229(k).
                              ----------------------------------------------------------------------------------
    --(j)(2)(iv) Petitions       Duplicate estimate removed. The estimated paperwork burden for this regulatory
     for special approval of                requirement is already covered above under Sec.   238.21.
     alternative compliance--
     Impractical equipment
     design.
                              ----------------------------------------------------------------------------------
    --(k) Records of the        Duplicate estimate removed. The estimated burden for this regulatory requirement
     inspection and repair of    is already covered below under Sec.   238.303 and under the OMB control number
     the welded safety                                     2130-0004 (Sec.   229.21).
     appliance brackets.
                              ----------------------------------------------------------------------------------
    238.230(b)(1)--Safety                                FRA anticipates zero records.
     Appliances--New
     equipment--Inspection
     record of welded
     equipment by qualified
     employee.
                              ----------------------------------------------------------------------------------
    --(b)(3) Welded safety                                FRA anticipates zero plans.
     appliances:
     Documentation for
     equipment impractically
     designed to mechanically
     fasten safety appliance
     support.
                              ----------------------------------------------------------------------------------
    238.231--Brake System--      The paperwork burden for this requirement is covered under Sec.   238.303 and
     Inspection and repair of                        under the OMB control number 2130-0004.
     hand/parking brake:
     Records (under FRA Form
     6180.49A).
                              ----------------------------------------------------------------------------------
    --(h) Procedures           1 new railroad.  1 procedure....  2 hours........            2.00          154.88
     verifying hold of hand/
     parking brakes.
238.237(a)-(b)--Automated      1 new railroad.  1 document.....  2 hours........            2.00          154.88
 monitoring- Documentation
 for alerter/deadman control
 timing.
    --(d) Defective alerter/   34 railroads...  25 tags........  3 minutes......            1.25           74.86
     deadman control: Tagging.
                              ----------------------------------------------------------------------------------
238.303--Exterior calendar                               FRA anticipates zero notices.
 day mechanical inspection of
 passenger equipment: Notice
 of previous inspection.
                              ----------------------------------------------------------------------------------
    --(e)(15) Dynamic brakes   34 railroads...  50 tags........  3 minutes......            2.50          149.73
     not in operating mode:
     Tag.
                              ----------------------------------------------------------------------------------
    --(e)(15)(ii)                Duplicate estimate removed. The estimated paperwork burden for this regulatory
     Conventional locomotives           requirement is already covered above under Sec.   238.303(e)(15).
     equipped with
     inoperative dynamic
     brakes: Tagging.
                              ----------------------------------------------------------------------------------

    --(e)(17) MU passenger                             FRA anticipates zero submissions.
     equipment found with
     inoperative/ineffective
     air compressors at
     exterior calendar day
     inspection: Documents.
                              ----------------------------------------------------------------------------------
    --(e)(17)(v) Written         Duplicate estimate removed. The estimated paperwork burden for this regulatory
     notice to train crew               requirement is already covered above under Sec.   238.303(e)(15).
     about inoperative/
     ineffective air
     compressors.
                              ----------------------------------------------------------------------------------
    --(e)(18)(iv) Records of     Duplicate estimate removed. The estimated paperwork burden for this regulatory
     inoperative air                      requirement is already covered below under Sec.   238.303(g).
     compressors.
                              ----------------------------------------------------------------------------------
    --(g) Record of exterior   34 railroads...  1,734,115 daily  1 minute.......       28,901.92    2,238,164.68
     calendar day mechanical                     inspection
     inspection (Other than                      records.
     locomotives) (*Note:
     Includes burden for
     records of inoperative
     air compressors under
     Sec.
     238.303(e)(18)(iv)).
238.305--Interior calendar     34 railroads...  540 tags.......  3 minutes......           27.00        2,090.88
 day mechanical inspection of
 passenger cars--Tagging of
 defective end/side doors.
    --(f) Records of interior  34 railroads...  3,102,865 daily  1 minute.......       51,714.42    4,004,764.68
     calendar day inspection.                    inspection
                                                 records.
238.307(a)(2)--Periodic        34 railroads...  2 notices......  5 hours........           10.00          774.40
 mechanical inspection of
 passenger cars and unpowered
 vehicles--Alternative
 inspection intervals:
 Notifications.
    --(c)(1) Notice of seats   34 railroads...  200 notices....  2 minutes......            6.67          399.47
     and seat attachments
     broken or loose.
    --(e)(1) Records of each   34 railroads...  5,184            1 hour.........        5,184.00      310,469.76
     periodic mechanical                         inspection
     inspection.                                 records.
    --(e)(2) Detailed          34 railroads...  2 documents....  100 hours......          200.00       15,488.00
     documentation of
     reliability assessments
     as basis for alternative
     inspection interval.
238.311--Single car test--     34 railroads...  50 tags........  3 minutes......            2.50          149.73
 Tagging to indicate need for
 single car test.
238.313(h)--Class I Brake      34 railroads...  15,600 records.  30 minutes.....        7,800.00      467,142.00
 Test--Record for additional
 inspection for passenger
 equipment that does not
 comply with Sec.
 238.231(b)(1).
                              ----------------------------------------------------------------------------------
238.315(a)(1)--Class IA brake   The associated burdens related to briefings have been addressed previously when
 test --Notice to train crew                  FRA calculated the economic costs of the regulation.
 that test has been performed
 (verbal notice).
                              ----------------------------------------------------------------------------------
    --(f)(5) Communicating      The associated burdens related to briefings have been addressed previously when
     signal tested and                        FRA calculated the economic costs of the regulation.
     operating as intended.
                              ----------------------------------------------------------------------------------
238.317--Class II brake test--  The associated burdens related to briefings have been addressed previously when
 Communicating signal tested                  FRA calculated the economic costs of the regulation.
 and operating as intended.
                              ----------------------------------------------------------------------------------
238.321--Out-of-service          Duplicate estimate removed. The estimated paperwork burden for this regulatory
 credit--Passenger car: Out-     requirement is covered under Sec.   238.307 and under OMB control number 2130-
 of-use notation.                                           0004 under 229.23(d)-(g).
                              ----------------------------------------------------------------------------------
238.445(a)--Automated           There are no paperwork burdens associated with this subsection. FRA corrects its
 Monitoring --Performance                                    previous overinclusion.
 monitoring: alerters/alarms.
                              ----------------------------------------------------------------------------------
    --(c) Monitoring system:    There are no paperwork burdens associated with this subsection. FRA corrects its
     Self-test feature:                                      previous overinclusion.
     Notifications.
                              ----------------------------------------------------------------------------------
238.703--Quasi-static          1 new railroad.  .33 document...  40 hours.......           13.20        1,022.21
 compression load
 requirements--Document to
 FRA on Tier III trainsets.
238.705--Dynamic collision     1 new railroad.  .33 validation   40 hours.......           13.20        1,022.21
 scenario--Model validation                      document.
 document to FRA for review
 and approval.
238.707--Override protection-- 1 new railroad.  .33 evaluation.  40 hours.......           13.20        1,022.21
 Anti-climbing performance
 evaluation for Tier III
 trainsets.

238.709--Fluid entry           1 new railroad.  .33 analysis...  20 hours.......            6.60          511.10
 inhibition--Information to
 demonstrate compliance with
 this section of a Tier III
 trainset.
238.721--Glazing--Cab          3 glass          .33 technical    60 hours.......           19.80        1,533.31
 glazing; end facing--          manufacturers.   documentation.
 Documentation containing
 technical justification.
                              ----------------------------------------------------------------------------------
    --(a)(6) Marking of end-     Windows are, customarily, automatically marked during the production process.
     facing exterior windows           Therefore, there will be no additional burden to mark the windows.
     for Tier III trainsets.
                              ----------------------------------------------------------------------------------
    --(b) Cab Glazing; side-   3 glass          .33 analysis...  10 hours.......            3.30          255.55
     facing exterior windows    manufacturers.
     in Tier III cab--Each
     end-facing exterior
     window in a cab shall,
     at a minimum, provide
     ballistic penetration
     resistance that meets
     the requirements of
     appendix A to part 223
     (Certification of
     Glazing Materials).
                              ----------------------------------------------------------------------------------
    --(b) Marking of side-       Windows are, customarily, automatically marked during the production process.
     facing exterior windows           Therefore, there will be no additional burden to mark the windows.
     in Tier III Trainsets.
                              ----------------------------------------------------------------------------------
    --(c) Non-Cab Glazing;     3 glass          .33 analysis...  20 hours.......            6.60          511.10
     Side-facing exterior       manufacturers.
     windows--Tier III--
     compliance document for
     Type II glazing.
                              ----------------------------------------------------------------------------------
    --(c) Marking of side-       Windows are, customarily, automatically marked during the production process.
     facing exterior windows--         Therefore, there will be no additional burden to mark the windows.
     Tier III Trainsets--non-
     cab cars.
                              ----------------------------------------------------------------------------------
    --(c)(2) Alternative       3 glass          .67 alternative  5 hours........            3.35          259.42
     standard to FRA for side-  manufacturers.   analysis.
     facing exterior window
     intended to be breakable
     and serve as an
     emergency window exit
     (option to comply with
     an alternative standard).
                              ----------------------------------------------------------------------------------
238.731(a)--Brake Systems--RR    Duplicate estimate removed. The estimated paperwork burden for this regulatory
 analysis and testing Tier                       requirement is covered under Sec.   238.111(b).
 III trainsets' maximum safe
 operating speed.
                              ----------------------------------------------------------------------------------
    --(d) Tier III trainsets'  1 new railroad.  53.33            1 hour (design)           55.11        3,300.54
     passenger brake alarm--                     stencilings.     + 2 minutes
     legible stenciling/                                          (marking).
     marking of devices with
     words ``Passenger Brake
     Alarm'' (Including the
     design of the sticker).
    --(f) Main reservoir test/ 1 new railroad.  .33              6 hours........            1.98          118.58
     certification.                              certification.
    --(h) Main reservoir       1 railroad.....  .33 ITM plan...  10 hours.......            3.30          255.55
     tests--Inspection,
     testing and maintenance
     (ITM) plan.
    --(j) Brake application/   1 railroad.....  .33 design.....  40 hours.......           13.20        1,022.21
     release--Brake actuator
     design with approved
     brake cylinder pressure
     as part of design review
     process.
    --(o) Train securement--   1 railroad.....  .33 procedure..  8 hours........            2.64          204.44
     Tier III equipment:
     demonstrated securement
     procedure.
238.733--Interior fixture      1 railroad.....  .33 analysis/    20 hours.......            6.60          511.10
 attachment--Analysis for FRA                    document.
 approval (Tier III).
238.735--Seat crashworthiness  1 railroad.....  .33 analysis/    40 hours.......           13.20        1,022.21
 standard (passenger & cab                       document.
 crew)--Analysis for FRA
 approval (Tier III).
238.737--Luggage racks--       1 railroad.....  .33 analysis/    20 hours.......            6.60          511.10
 Analysis for FRA approval                       document.
 (Tier III).
238.741--Emergency window      1 railroad.....  .33 plan.......  60 hours.......           19.80        1,533.31
 egress and rescue access--
 Plan to FRA for passenger
 cars in Tier III trainsets
 not in compliance with
 sections 238.113 or 238.114.
238.743--Emergency Lighting--  1 railroad.....  .33 analysis/    60 hours.......           19.80        1,533.31
 Analysis for FRA approval                       test.
 (Tier III).

238.751--Alerters--Alternate   1 railroad.....  .33 analysis/    40 hours.......           13.20        1,022.21
 technology--Analysis for FRA                    test.
 approval (Tier III).
                              ----------------------------------------------------------------------------------
        Total................  34 railroads...  4,860,940        N/A............          95,946       7,149,477
                                                 Responses.
----------------------------------------------------------------------------------------------------------------

    Total Estimated Annual Responses: 4,860,940.
---------------------------------------------------------------------------

    \2\ The current inventory exhibits a total burden of 4,600,273
hours while the total burden of this notice is 95,946 hours. As part
of its review of this ICR renewal, FRA determined some of the
previous estimates were initial estimates, outdated, duplicative, or
outside the scope of the PRA. For instance, the burdens previously
associated with 49 CFR 238.303(g), 238.305(f), and 238.307(e) were
significantly adjusted after removing the inspection times from the
burden hours. This adjustment is correct because the burden is
imposed by the underlying regulation, thus times for the inspection
did not arise from this information collection requirement, so it
was incorrect to quantify them as costs related to the information
collection.
    \3\ The dollar equivalent cost is derived from the Surface
Transportation Board's 2020 Full Year Wage A&B data series using the
appropriate employee group hourly wage rate that includes a 75-
percent overhead charge.
---------------------------------------------------------------------------

    Total Estimated Annual Burden: 95,946 hours.
    Total Estimated Annual Burden Hour Dollar Cost Equivalent:
$7,149,477.
    Under 44 U.S.C. 3507(a) and 5 CFR 1320.5(b) and 1320.8(b)(3)(vi),
FRA informs all interested parties that a respondent is not required to
respond to, conduct, or sponsor a collection of information that does
not display a currently valid OMB control number.
    Authority: 44 U.S.C. 3501-3520.

Brett A. Jortland,
Deputy Chief Counsel.
[FR Doc. 2021-24300 Filed 11-5-21; 8:45 am]
BILLING CODE 4910-06-P


[Federal Register Volume 85, Number 246 (Tuesday, December 22, 2020)]
[Notices]
[Pages 83650-83656]
[FR Doc No: 2020-28149]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90685; File No. SR-CboeBZX-2020-092]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of
Filing and Immediate Effectiveness of a Proposed Rule Change To List
and Trade Shares of the ProShares VIX Short-Term Futures ETF and the
ProShares VIX Mid-Term Futures ETF, Each a Series of ProShares Trust
II, Under Rule 14.11(f)(4) (Trust Issued Receipts)

December 16, 2020.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 14, 2020, Cboe BZX Exchange, Inc. (``Exchange'' or ``BZX'')
filed with the Securities and Exchange Commission (``Commission'') the
proposed rule change as described in Items I and II below, which Items
have been prepared by the Exchange. The Exchange filed the proposal as
a ``non-controversial''

proposed rule change pursuant to Section 19(b)(3)(A)(iii) of the Act
\3\ and Rule 19b-4(f)(6) thereunder.\4\ The Commission is publishing
this notice to solicit comments on the proposed rule change from
interested persons.
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ 15 U.S.C. 78s(b)(3)(A)(iii).
    \4\ 17 CFR 240.19b-4(f)(6).
---------------------------------------------------------------------------

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

    The Exchange proposes to list and trade Shares of the ProShares VIX
Short-Term Futures ETF and the ProShares VIX Mid-Term Futures ETF (each
a ``Fund'' and, collectively, the ``Funds'') under Rule 14.11(f)(4),
which governs the listing and trading of Trust Issued Receipts \5\ on
the Exchange.\6\ The Exchange notes that the Funds have previously been
approved by the Commission and are currently listed on Arca.\7\ This
proposal is substantively identical to the Prior Proposal and the
issuer represents that all material representations contained within
the Prior Proposal remain true. Further, the Funds are already trading
on the Exchange pursuant to unlisted trading privileges, as provided in
Rule 14.11(j).
---------------------------------------------------------------------------

    \5\ Rule 14.11(f)(4) applies to Trust Issued Receipts that
invest in ``Financial Instruments.'' The term ``Financial
Instruments,'' as defined in Rule 14.11(f)(4)(A)(iv), means any
combination of investments, including cash; securities; options on
securities and indices; futures contracts; options on futures
contracts; forward contracts; equity caps, collars and floors; and
swap agreements.
    \6\ The Commission approved BZX Rule 14.11(f)(4) in Securities
Exchange Act Release No. 68619 (January 10, 2013), 78 FR 3489
(January 16, 2013) (SR-BATS-2012-044).
    \7\ See Securities Exchange Act No. 63317 (November 16, 2010) 75
FR 71158 (November 22, 2010) (SR-NYSEArca-2010-101) (Proposal to
list and trade Shares of the ProShares VIX Short-Term Futures ETF
and the ProShares VIX Mid-Term Futures ETF (the ``Prior
Proposal'')). See also Securities Exchange Act No. 63610 (December
27, 2010) 76 FR 199 (January 3, 2011) (SR-NYSEArca-2010-101) (Order
approving the listing and trading of the ProShares VIX Short-Term
Futures ETF and the ProShares VIX Mid-Term Futures ETF).
---------------------------------------------------------------------------

    The text of the proposed rule change is also available on the
Exchange's website (http://markets.cboe.com/us/equities/regulation/rule_filings/bzx/), at the Exchange's Office of the Secretary, and at
the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to list and trade Shares of the ProShares VIX
Short-Term Futures ETF and the ProShares VIX Mid-Term Futures ETF (each
a ``Fund'' and, collectively, the ``Funds'') under Rule 14.11(f)(4),
which governs the listing and trading of Trust Issued Receipts \8\ on
the Exchange.\9\ The Exchange notes that the Funds have previously been
approved by the Commission and are currently listed on Arca.\10\ This
proposal is substantively identical to the Prior Proposal and the
issuer represents that all material representations contained within
the Prior Proposal remain true. Further, the Funds are already trading
on the Exchange pursuant to unlisted trading privileges, as provided in
Rule 14.11(j).
---------------------------------------------------------------------------

    \8\ Rule 14.11(f)(4) applies to Trust Issued Receipts that
invest in ``Financial Instruments.'' The term ``Financial
Instruments,'' as defined in Rule 14.11(f)(4)(A)(iv), means any
combination of investments, including cash; securities; options on
securities and indices; futures contracts; options on
futurescontracts; forward contracts; equity caps, collars and
floors; and swap agreements.
    \9\ The Commission approved BZX Rule 14.11(f)(4) in Securities
Exchange Act Release No. 68619 (January 10, 2013), 78 FR 3489
(January 16, 2013) (SR-BATS-2012-044).
    \10\ See Securities Exchange Act No. 63317 (November 16, 2010)
75 FR 71158 (November 22, 2010) (SR-NYSEArca-2010-101) (Proposal to
list and trade Shares of the ProShares VIX Short-Term Futures ETF
and the ProShares VIX Mid-Term Futures ETF (the ``Prior
Proposal'')). See also Securities Exchange Act No. 63610 (December
27, 2010) 76 FR 199 (January 3, 2011) (SR-NYSEArca-2010-101) (Order
approving the listing and trading of the ProShares VIX Short-Term
Futures ETF and the ProShares VIX Mid-Term Futures ETF).
---------------------------------------------------------------------------

    The Funds seek to provide investment results (before fees and
expenses) that match the performance of a benchmark that seeks to offer
exposure to market volatility through publicly traded futures markets.
The benchmark for ProShares VIX Short-Term Futures ETF is the S&P 500
VIX Short-Term Futures Index (ticker symbol SPVIXSTR) and the benchmark
for ProShares VIX Mid-Term Futures ETF is the S&P 500 VIX Mid-Term
Futures Index (ticker symbol SPVIXMTR, each an ``Index'', and,
collectively, the ``Indexes'').\11\ As discussed in further detail
below, the S&P 500 VIX Short-Term Futures Index utilizes prices of the
next two near-term Cboe Volatility Index (``VIX'') futures contracts to
replicate a position that rolls the nearest month VIX futures to the
next month on a daily basis in equal fractional amounts, while the S&P
500 VIX Mid-Term Futures Index measures the return of a daily rolling
long position in the fourth, fifth, sixth and seventh month of VIX
futures contracts. The Funds will invest in futures contracts based on
the VIX to pursue their respective investment objectives. Each Fund
also may invest in Cash and Cash Equivalents \12\ such as U.S. Treasury
securities or other high credit quality short-term fixed-income or
similar securities (including shares of money market funds, bank
deposits, bank money market accounts, certain variable rate-demand
notes and repurchase agreements collateralized by government
securities) that may serve as collateral for the futures contracts.
---------------------------------------------------------------------------

    \11\ Standard & Poor's Financial Services LLC is the index
sponsor with respect to the Indexes and has implemented procedures
designed to prevent the use and dissemination of material, non-
public information regarding the Indexes.
    \12\ For purposes of this proposal, the term ``Cash and Cash
Equivalents'' shall have the definition provided in Exchange Rule
14.11(i)(4)(C)(iii), applicable to Managed Fund Shares.
---------------------------------------------------------------------------

    ProShare Capital Management LLC (the ``Sponsor''), a Maryland
limited liability company, serves as the Sponsor of ProShares Trust II
(the ``Trust''). The Sponsor is a commodity pool operator.\13\ Bank of
New York Mellon serves as the administrator (the ``Administrator''),
custodian and transfer agent of the Funds and their respective Shares.
SEI Investments Distribution Co. (``Distributor'') serves as
Distributor of the Shares. Wilmington Trust Company, a Delaware banking
corporation, is the sole trustee of the Trust.
---------------------------------------------------------------------------

    \13\ The ProShares VIX Short-Term Futures ETF has filed a
registration statement on Form S-3 under the Securities Act of 1933,
dated May 11, 2020 (File No. 333-238175) and the ProShares VIX Mid-
Term Futures ETF has filed a registration statement on Form S-1
under the Securities Exchange Act of 1933, dated August 12, 2020
(File No.: 333-244420) (collectively, the ``Registration
Statement''). The description of the Funds and the Shares contained
herein are based on the Registration Statement.
---------------------------------------------------------------------------

    If the Sponsor to the Trust issuing the Trust Issued Receipts is
affiliated with a broker-dealer, such Sponsor to the Trust shall erect
a ``fire wall'' between the Sponsor and the broker-dealer with respect
to access to information concerning the composition and/or changes to
such Trust portfolio. The Sponsor is not a broker-dealer, but is
affiliated with a broker-dealer and has implemented and will maintain a
``fire wall'' with respect to such broker-dealer regarding access to
information concerning the composition and/or

changes to the portfolio. In the event that (a) the Sponsor becomes a
broker-dealer or newly affiliated with a broker-dealer, or (b) any new
sponsor is a broker-dealer or becomes affiliated with a broker-dealer,
it will implement a fire wall with respect to its relevant personnel or
such broker-dealer affiliate, as applicable, regarding access to
information concerning the composition and/or changes to the portfolio,
and will be subject to procedures designed to prevent the use and
dissemination of material non-public information regarding such
portfolio.
    According to the Registration Statement, if a Fund is successful in
meeting its objective, its value (before fees and expenses) should gain
approximately as much on a percentage basis as the level of its
corresponding Index when the Index rises. Conversely, its value (before
fees and expenses) should lose approximately as much on a percentage
basis as the level of its corresponding Index when the Index declines.
Each Fund acquires exposure through VIX futures contracts traded on the
Cboe Futures Exchange (``VIX Futures Contracts'') (``CFE''), such that
each Fund typically has exposure intended to approximate the benchmark
at the time of its net asset value (``NAV'') calculation.\14\
---------------------------------------------------------------------------

    \14\ Terms relating to the Funds, the Shares and the Indexes
referred to, but not defined, herein are defined in the Registration
Statement.
---------------------------------------------------------------------------

    According to the Registration Statement, each Fund is not actively
managed by traditional methods, which typically involve effecting
changes in the composition of a portfolio on the basis of judgments
relating to economic, financial and market considerations with a view
toward obtaining positive results under all market conditions. Rather,
each Fund seeks to remain fully invested at all times in investment
positions that, in combination, provide exposure to its Index
consistent with its investment objective, even during periods in which
that benchmark is flat or moving in a manner which causes the value of
a Fund to decline.
    In seeking to achieve each Fund's investment objective, the Sponsor
uses a mathematical approach to investing. Using this approach, the
Sponsor determines the type, quantity and mix of investment positions
that the Sponsor believes in combination should produce daily returns
consistent with such Fund's objective. The Sponsor relies upon a pre-
determined model to generate orders that result in repositioning the
Funds' investments in accordance with their respective investment
objectives.
VIX Futures Contracts
    The Indexes are comprised of, and the value of the Funds will be
based on, VIX Futures Contracts. VIX Futures Contracts are measures of
the market's expectation of the level of VIX at certain points in the
future, and as such will behave differently than current, or spot,
VIX.\15\ The Funds are not linked to the VIX, and in many cases the
Indexes, and by extension the Funds, will significantly underperform
the VIX.
---------------------------------------------------------------------------

    \15\ VIX is the ticker symbol for the Cboe Volatility Index, a
popular measure of implied volatility. The goal of the VIX is to
estimate the implied volatility of the S&P 500 over the next 30
days. A relatively high level of the VIX corresponds to a more
volatile U.S. equity market as expressed by more costly options on
the S&P 500 Index. The VIX represents one measure of the market's
expectation of over the next 30 day period. It is a blend of prices
for a range of options on the S&P 500 Index. The formula utilizes
current market prices for a series of out-of-the-money calls and
puts for the near and next-term expirations.
---------------------------------------------------------------------------

    While the VIX represents a measure of the current expected
volatility of the S&P 500 over the next 30 days, the prices of VIX
Futures Contracts are based on the current expectation of what the
expected 30-day volatility will be at a particular time in the future
(on the expiration date). For example, a VIX Futures Contract purchased
in March that expires in May, in effect, is a forward contract on what
the level of the VIX, as a measure of 30-day implied volatility of the
S&P 500, will be on the May expiration date. The forward volatility
reading of the VIX may not correlate directly to the current volatility
reading of the VIX because the implied volatility of the S&P 500 at a
future expiration date may be different from the current implied
volatility of the S&P 500. To illustrate, on December 4, 2019, the VIX
closed at a price of 14.8 and the price of the February 2020 VIX
Futures Contracts expiring on February 19, 2020 was 18.125. In this
example, the price of the VIX represented the 30-day implied, or
``spot,'' volatility (the volatility expected for the period from
December 5, 2019 to January 5, 2020) of the S&P 500 and the February
2020 VIX Futures Contracts represented forward implied volatility (the
volatility expected for the period from February 19 to March 19, 2020)
of the S&P 500.
The S&P 500 VIX Short-Term Futures Index and S&P 500 VIX Mid-Term
Futures Index
    According to the Registration Statement, the Indexes act as a
measure of the implied volatility of the S&P 500 as reflected by the
price of certain VIX Futures Contracts (the ``Index Components''), with
the price of each VIX Futures Contract reflecting the market's measure
of the expected volatility (i.e., the rate and magnitude of variations
in performance) of the S&P 500 over the next 30 days. Each Index seeks
to reflect the returns that are potentially available from holding an
unleveraged long position in certain VIX Futures Contracts.
    Unlike the Indexes, the VIX, which is not a benchmark for either
Fund, is calculated based on the prices of put and call options on the
S&P 500, which are traded on Cboe Exchange, Inc.
    The S&P 500 VIX Short-Term Futures Index employs rules for
selecting the Index Components and a formula to calculate a level for
the Index from the prices of these components. Specifically, the Index
Components represent the prices of the two near-term VIX futures
months, replicating a position that rolls the nearest month VIX Futures
Contract to the next month VIX Futures Contract on a daily basis in
equal fractional amounts. This results in a constant weighted average
maturity of one month. The roll period begins on the Tuesday prior to
the monthly CFE VIX Futures Contracts settlement date and runs through
the Tuesday prior to the subsequent month's CFE VIX Futures Contract
settlement date.
    The S&P 500 VIX Mid Term Futures Index also employs rules for
selecting the Index Components and a formula to calculate the level of
the Index from the prices of these components. Currently, the Index
Components represent the prices for four contract months of VIX Futures
Contracts, representing a market-based estimation of constant maturity,
five month forward implied VIX values. The S&P 500 VIX Mid-Term Futures
Index measures the return from a rolling long position in the fourth,
fifth, sixth and seventh month VIX Futures Contracts, and rolls
continuously throughout each month while maintaining positions in the
fifth and sixth month contracts. This results in a constant weighted
average maturity of five months.
Calculation of the Indexes
    The level of each Index is calculated in accordance with the method
described in the Registration Statement. The level of each Index will
be published at least every 15 seconds both in real time from 9:30 a.m.
to 4:00 p.m., E.T. and at the close of trading on each Business Day
\16\ by Bloomberg L.P. and Reuters.
---------------------------------------------------------------------------

    \16\ A ``Business Day'' means any day other than a day when any
of BZX, Cboe, CFE or other exchange material to the valuation or
operation of the Funds, or the calculation of the VIX, options
contracts underlying the VIX, VIX Futures Contracts or the Indexes
is closed for regular trading.

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

    The Index Components comprising each Index represent the prices of
certain futures contracts on the VIX. Each Index takes a daily rolling
long position in contracts of specified maturities and is intended to
reflect the returns that are potentially available through an
unleveraged investment in those contracts. The S&P 500 VIX Short-Term
Futures Index measures the return from a rolling long position in the
first and second month VIX Futures Contracts. The Index rolls
continuously throughout each month from the first month VIX Futures
Contracts into the second month VIX Futures Contracts. The S&P 500 VIX
Mid-Term Futures Index measures the return from a rolling long position
in the fourth, fifth, sixth and seventh month VIX Futures Contracts.
The Index rolls continuously throughout each month from the fourth
month contract into the seventh month contract while maintaining
positions in the fifth month and sixth month contracts.
    The Indexes roll on a daily basis. One of the effects of daily
rolling is to maintain a constant weighted average maturity for the
underlying futures contracts. Unlike equities, which typically entitle
the holder to a continuing stake in a corporation, futures contracts
normally specify a certain date for the delivery of the underlying
asset or financial instrument or, in the case of futures contracts
relating to indices such as the VIX, a certain date for payment in cash
of an amount determined by the level of the underlying index. The
Indexes operate by selling, on a daily basis, Index Components with a
nearby settlement date and purchasing Index Components with a longer-
dated settlement date. The roll for each contract occurs on each
Business Day according to a pre-determined schedule that has the effect
of keeping constant the weighted average maturity of the relevant
futures contracts. This process is known as ``rolling'' a futures
position, and each Index is a ``rolling index''. The constant weighted
average maturity for the futures underlying the S&P 500 VIX Short-Term
Futures Index is one month and for the futures underlying the S&P 500
VIX Mid-Term Futures Index is five months.
    Because the Indexes incorporate this process of rolling futures
positions on a daily basis, and the Funds, in general, also roll their
positions on a daily basis, the daily roll is not anticipated to be a
significant source of tracking error between either Fund and its
respective Index. The Indexes are based on VIX Futures Contracts and
not the VIX, and, as such, neither the Funds nor the Indexes are
expected to track the VIX.
Purchases and Redemptions of Creation Units
    The Funds will create and redeem Shares from time to time in one or
more Creation Units. A Creation Unit is a block of 25,000 Shares.
Except when aggregated in Creation Units, the Shares are not redeemable
securities.
    On any Business Day, an authorized participant may place an order
with the Distributor to create one or more Creation Units.\17\ The
total cash payment required to create each Creation Unit is the NAV of
25,000 Shares of the Funds on the purchase order date plus the
applicable transaction fee.
---------------------------------------------------------------------------

    \17\ Authorized participants have a cut-off time of 2:00 p.m.
E.T. to place creation and redemption orders.
---------------------------------------------------------------------------

    The procedures by which an authorized participant can redeem one or
more Creation Units mirror the procedures for the purchase of Creation
Units. On any Business Day, an authorized participant may place an
order with the Distributor to redeem one or more Creation Units. The
redemption proceeds from a Fund consist of the cash redemption amount.
The cash redemption amount is equal to the NAV of the number of
Creation Unit(s) of a Fund requested in the authorized participant's
redemption order as of the time of the calculation of a Fund's NAV on
the redemption order date, less applicable transaction fees.
Availability of Information Regarding the Shares
    The NAV for the Funds' Shares will be calculated by the
Administrator once a day and will be disseminated daily to all market
participants at the same time.\18\ Pricing information will be
available on the Fund's website including: (1) The prior Business Day's
reported NAV, the closing market price or the bid/ask price, daily
trading volume, and a calculation of the premium and discount of the
closing market price or bid/ask price against the NAV; and (2) data in
chart format displaying the frequency distribution of discounts and
premiums of the daily closing price against the NAV, within appropriate
ranges, for each of the four previous calendar quarters. The closing
prices and settlement prices of the Index Components are also readily
available from the websites of CFE (http://www.cfe.cboe.com), automated
quotation systems, published or other public sources, or on-line
information services such as Bloomberg or Reuters. Complete real-time
data for component futures underlying the Indexes is available by
subscription from Reuters and Bloomberg. Specifically, the level of
each Index will be published at least every 15 seconds both in real
time from 9:30 a.m. to 4:00 p.m. E.T. and at the close of trading on
each Business Day by Bloomberg and Reuters. The CFE also provides
delayed futures information on current and past trading sessions and
market news free of charge on its website. The specific contract
specifications for component futures underlying the Indexes are also
available on such websites, as well as other financial informational
sources.
---------------------------------------------------------------------------

    \18\ According to the Registration Statement, net asset value
means the total assets of the Funds including, but not limited to,
all Cash and Cash Equivalents or other debt securities less total
liabilities of the Funds, each determined on the basis of generally
accepted accounting principles in the United States, consistently
applied under the accrual method of accounting. Each Fund's NAV is
calculated once each trading day as of 4 p.m. (E.T.), or an earlier
time as set forth on www.proshares.com.
---------------------------------------------------------------------------

    Quotation and last-sale information regarding the Shares will be
disseminated through the facilities of the Consolidated Tape
Association (``CTA''). Information relating to VIX Futures Contracts
will be available from the exchange on which such instruments are
traded. Pricing information regarding VIX Futures Contracts is
generally available through nationally recognized data services
providers through subscription agreements. Pricing information
regarding Cash and Cash Equivalents in which the Funds may invest is
generally available through nationally recognized data services
providers, such as Reuters and Bloomberg, through subscription
agreements.
    In addition, the Funds' website at www.proshares.com will display
the end of day closing Index levels, and NAV per share for the Funds.
The Funds will provide website disclosure of portfolio holdings daily
and will include, as applicable, the notional value (in U.S. dollars)
of VIX Futures Contracts and characteristics of such instruments and
Cash and Cash Equivalents, and amount of cash held in the portfolio of
the Funds. This website disclosure of the portfolio composition of the
Funds will occur at the same time as the disclosure by the Funds of the
portfolio composition to authorized participants so that all market
participants are provided portfolio composition information at the same
time. Therefore, the same portfolio information will be provided on the
public website as well as in electronic files provided to authorized
participants. Accordingly, each investor

will have access to the current portfolio composition of the Funds
through the Funds' website.
    In addition, in order to provide updated information relating to
the Funds for use by investors and market professionals, an updated
Intraday Indicative Value (``IIV'') will be calculated. The IIV is an
indicator of the value of the VIX Futures Contracts and Cash and/or
Cash Equivalents less liabilities of a Fund at the time the IIV is
disseminated. The IIV will be calculated and widely disseminated by one
or more major market data vendors every 15 seconds throughout Regular
Trading Hours.\19\
---------------------------------------------------------------------------

    \19\ As defined in Rule 1.5(w), the term ``Regular Trading
Hours'' means the time between 9:30 a.m. and 4:00 p.m. E.T.
---------------------------------------------------------------------------

    In addition, the IIV is published on the Exchange's website and is
available through on-line information services such as Bloomberg and
Reuters.
    The IIV disseminated during Regular Trading Hours should not be
viewed as an actual real time update of the NAV, which is calculated
only once a day. The IIV also should not be viewed as a precise value
of the Shares.
    The Exchange believes that dissemination of the IIV provides
additional information regarding the Funds that is not otherwise
available to the public and is useful to professionals and investors in
connection with the related Shares trading on the Exchange or the
creation or redemption of such Shares.
    Additional information regarding the Funds and the Shares,
including investment strategies, risks, creation and redemption
procedures, fees, portfolio holdings disclosure policies, distributions
and taxes is included in the Registration Statement.
Initial and Continued Listing
    The Shares of each Fund will conform to the initial and continued
listing criteria under BZX Rule 14.11(f)(4). The Exchange represents
that, for initial and continued listing, the Funds and the Trust must
be in compliance with Rule 10A-3 under the Act. A minimum of 100,000
Shares of each Fund will be outstanding at the commencement of trading
on the Exchange. The Exchange will obtain a representation from the
issuer of the Shares that the NAV per Share for each Fund will be
calculated daily and will be made available to all market participants
at the same time.
Trading Halts
    With respect to trading halts, the Exchange may consider all
relevant factors in exercising its discretion to halt or suspend
trading in the Shares of the Funds. The Exchange will halt trading in
the Shares under the conditions specified in BZX Rule 11.18. Trading
may be halted because of market conditions or for reasons that, in the
view of the Exchange, make trading in the Shares inadvisable. These may
include: (1) The extent to which trading is not occurring in the
securities and/or the financial instruments composing the daily
disclosed portfolio of the Funds; or (2) whether other unusual
conditions or circumstances detrimental to the maintenance of a fair
and orderly market are present. Trading in the Shares also will be
subject to Rule 14.11(f)(4)(C)(ii), which sets forth circumstances
under which Shares of a Fund may be halted.
    The Exchange represents that the Exchange may halt trading in the
Shares of a Fund during the day in which an interruption to the
dissemination of the IIV, the value of an Index, the VIX or the value
of the underlying VIX Futures Contracts occurs. If an interruption to
the dissemination of the IIV, the value of an Index, the VIX or the
value of the underlying VIX Futures Contracts persists past the trading
day in which it occurred, the Exchange will halt trading no later than
the beginning of the trading day following the interruption. In
addition, if the Exchange becomes aware that the NAV with respect to
the Shares is not disseminated to all market participants at the same
time, it will halt trading in the Shares until such time as the NAV is
available to all market participants.
Trading Rules
    The Exchange deems the Shares to be equity securities, thus
rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of equity securities. The Exchange will
allow trading in the Shares during all trading sessions on the Exchange
and has the appropriate rules to facilitate transactions in the Shares
during all trading sessions. As provided in BZX Rule 11.11(a), the
minimum price variation for quoting and entry of orders in securities
traded on the Exchange is $0.01, with the exception of securities that
are priced less than $1.00, for which the minimum price variation for
order entry is $0.0001.
Surveillance
    Trading of the Shares through the Exchange will be subject to the
Exchange's surveillance procedures for derivative products, including
Trust Issued Receipts. The Exchange believes that its surveillance
procedures are adequate to properly monitor the trading of the Shares
on the Exchange during all trading sessions and to deter and detect
violations of Exchange rules and the applicable federal securities
laws. All of the VIX Futures Contracts held by the Funds will trade on
markets that are a member of ISG or affiliated with a member of ISG or
with which the Exchange has in place a comprehensive surveillance
sharing agreement.\20\ The Exchange, FINRA, on behalf of the Exchange,
or both will communicate regarding trading in the Shares and the
underlying listed instruments, including listed derivatives held by the
Funds, with the ISG, other markets or entities who are members or
affiliates of the ISG, or with which the Exchange has entered into a
comprehensive surveillance sharing agreement. In addition, the Exchange
or FINRA may obtain information regarding trading in the Shares and the
underlying listed instruments, including listed derivatives, held by
the Funds from markets and other entities that are members of ISG or
with which the Exchange has in place a comprehensive surveillance
sharing agreement. All statements and representations made in this
filing regarding index composition, description of the portfolio or
reference assets, limitations on portfolio holdings or reference
assets, dissemination and availability of an index, reference asset,
and IIVs, and the applicability of Exchange rules specified in this
filing shall constitute continued listing requirements for the Funds.
The issuer has represented to the Exchange that it will advise the
Exchange of any failure by the Funds or the Shares to comply with the
continued listing requirements, and, pursuant to its obligations under
Section 19(g)(1) of the Act, the Exchange will surveil for compliance
with the continued listing requirements. If the Funds or the Shares are
not in compliance with the applicable listing requirements, the
Exchange will commence delisting procedures under Exchange Rule 14.12.
In addition, the Exchange also has a general policy prohibiting the
distribution of material, non-public information by its employees.
---------------------------------------------------------------------------

    \20\ For a list of the current members and affiliate members of
ISG, see www.isgportal.com. The Exchange notes that not all
components of the Fund's holdings may trade on markets that are
members of ISG or with which the Exchange has in place a
comprehensive surveillance sharing agreement.
---------------------------------------------------------------------------

Information Circular
    Prior to the commencement of trading, the Exchange will inform its
members in an Information Circular of the special characteristics and
risks

associated with trading the Shares. Specifically, the Information
Circular will discuss the following: (1) The procedures for purchases
and redemptions of Shares in Creation Units (and that Shares are not
individually redeemable); (2) BZX Rule 3.7, which imposes suitability
obligations on Exchange members with respect to recommending
transactions in the Shares to customers; (3) how information regarding
the IIV and each Fund's holdings is disseminated; (4) the risks
involved in trading the Shares outside of Regular Trading Hours when an
updated IIV will not be calculated or publicly disseminated; (5) the
requirement that members deliver a prospectus to investors purchasing
newly issued Shares prior to or concurrently with the confirmation of a
transaction; and (6) trading information.
    In addition, the Information Circular will advise members, prior to
the commencement of trading, of the prospectus delivery requirements
applicable to the Funds. Members purchasing Shares from the Funds for
resale to investors will deliver a prospectus to such investors. The
Information Circular will also discuss any exemptive, no-action and
interpretive relief granted by the Commission from any rules under the
Act.
    In addition, the Information Circular will reference that the Funds
are subject to various fees and expenses described in the Registration
Statement. The Information Circular will also disclose the trading
hours of the Shares of the Funds and the applicable NAV calculation
time for the Shares. The Information Circular will disclose that
information about the Shares of the Funds will be publicly available on
the Funds' website.
2. Statutory Basis
    The Exchange believes that the proposal is consistent with Section
6(b) of the Act \21\ in general and Section 6(b)(5) of the Act \22\ in
particular in that it is designed to prevent fraudulent and
manipulative acts and practices, to promote just and equitable
principles of trade, to foster cooperation and coordination with
persons engaged in facilitating transactions in securities, to remove
impediments to and perfect the mechanism of a free and open market and
a national market system and, in general, to protect investors and the
public interest.
---------------------------------------------------------------------------

    \21\ 15 U.S.C. 78f.
    \22\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The Exchange believes that the proposed rule change is designed to
prevent fraudulent and manipulative acts and practices in that the
Shares will be listed and traded on the Exchange pursuant to the
initial and continued listing criteria in Exchange Rule 14.11(f). The
Exchange believes that its surveillance procedures are adequate to
properly monitor the trading of the Shares on the Exchange during all
trading sessions and to deter and detect violations of Exchange rules
and the applicable federal securities laws. If the Sponsor to the Trust
issuing the Trust Issued Receipts is affiliated with a broker-dealer,
such Sponsor to the Trust shall erect and maintain a ``fire wall''
between the Sponsor and the broker-dealer with respect to access to
information concerning the composition and/or changes to the Funds'
portfolios. The Sponsor is not a broker-dealer, but is affiliated with
a broker-dealer dealer and has implemented and will maintain a ``fire
wall'' with respect to such broker-dealer regarding access to
information concerning the composition and/or changes to the portfolio.
In the event that (a) the Sponsor becomes a broker-dealer or newly
affiliated with a broker-dealer, or (b) any new sponsor is a broker-
dealer or becomes affiliated with a broker-dealer, it will implement
and maintain a fire wall with respect to its relevant personnel or such
broker-dealer affiliate, as applicable, regarding access to information
concerning the composition and/or changes to the portfolio, and will be
subject to procedures designed to prevent the use and dissemination of
material non-public information regarding the portfolio. The Exchange,
FINRA, on behalf of the Exchange, or both may obtain information
regarding trading in the Shares and the underlying VIX Futures
Contracts via the ISG from other exchanges who are members or
affiliates of the ISG or with which the Exchange has entered into a
comprehensive surveillance sharing agreement. In addition, the Exchange
also has a general policy prohibiting the distribution of material,
non-public information by its employees.
    The proposed rule change is designed to promote just and equitable
principles of trade and to protect investors and the public interest in
that the Exchange will obtain a representation from the issuer of the
Shares that the NAV will be calculated daily and that the NAV and the
Funds' holdings will be made available to all market participants at
the same time. In addition, a large amount of information is publicly
available regarding the Funds and the Shares, thereby promoting market
transparency. Moreover, the IIV will be disseminated by one or more
major market data vendors at least every 15 seconds during Regular
Trading Hours. On each Business Day, before commencement of trading in
Shares during Regular Trading Hours, the Funds will disclose on their
website the holdings that will form the basis for each Fund's
calculation of NAV at the end of the Business Day. Pricing information
will be available on the Funds' website including: (1) The prior
Business Day's reported NAV, the closing market price or the bid/ask
price, daily trading volume, and a calculation of the premium and
discount of the closing market price or bid/ask price against the NAV;
and (2) data in chart format displaying the frequency distribution of
discounts and premiums of the daily closing price against the NAV,
within appropriate ranges, for each of the four previous calendar
quarters. Additionally, information regarding market price and trading
of the Shares will be continually available on a real-time basis
throughout the day on brokers' computer screens and other electronic
services, and quotation and last sale information for the Shares will
be available on the facilities of the CTA. The website for the Funds
will include a form of the prospectus for each Fund and additional data
relating to NAV and other applicable quantitative information. Trading
in Shares of the Funds will be halted under the conditions specified in
Exchange Rule 11.18. Trading may also be halted because of market
conditions or for reasons that, in the view of the Exchange, make
trading in the Shares inadvisable. Finally, trading in the Shares will
be subject to 14.11(f)(4)(C)(ii), which sets forth circumstances under
which Shares of the Funds may be halted. In addition, as noted above,
investors will have ready access to information regarding the Funds'
holdings, the Indexes, the IIV, and quotation and last sale information
for the Shares.
    Quotation and last-sale information regarding the Shares will be
disseminated through the facilities of the CTA. Quotation and last-sale
information regarding VIX Futures Contracts will be available from the
exchanges on which such instruments are traded. Pricing information
regarding Cash and Cash Equivalents in which the Funds will invest is
generally available through nationally recognized data services
providers, such as Reuters and Bloomberg, through subscription
agreements.
    The proposed rule change is designed to perfect the mechanism of a
free and open market and, in general, to protect

investors and the public interest in that it will facilitate the
listing and trading of exchange-traded products that will enhance
competition among market participants, to the benefit of investors and
the marketplace. As noted above, the Exchange has in place surveillance
procedures relating to trading in the Shares and may obtain information
via ISG from other exchanges that are members of ISG or with which the
Exchange has entered into a comprehensive surveillance sharing
agreement. In addition, as noted above, investors will have ready
access to information regarding each Fund's holdings, the IIV, and
quotation and last sale information for the Shares.
    For the above reasons, the Exchange believes that the proposed rule
change is consistent with the requirements of Section 6(b)(5) of the
Act.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purpose of the Act. The Exchange notes that the
proposed rule change, rather will facilitate the transfer from Arca and
listing of additional exchange-traded products on the Exchange, which
will enhance competition among listing venues, to the benefit of
issuers, investors, and the marketplace more broadly.

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

    The Exchange has neither solicited nor received written comments on
the proposed rule change.

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

    Because the foregoing proposed rule change does not: (i)
Significantly affect the protection of investors or the public
interest; (ii) impose any significant burden on competition; and (iii)
become operative for 30 days from the date on which it was filed, or
such shorter time as the Commission may designate, it has become
effective pursuant to Section 19(b)(3)(A) of the Act \23\ and Rule 19b-
4(f)(6) thereunder.\24\
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    \23\ 15 U.S.C. 78s(b)(3)(A).
    \24\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires a self-regulatory organization to give the Commission
written notice of its intent to file the proposed rule change, along
with a brief description and text of the proposed rule change, at
least five business days prior to the date of filing of the proposed
rule change, or such shorter time as designated by the Commission.
The Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    A proposed rule change filed under Rule 19b-4(f)(6) \25\ normally
does not become operative for 30 days after the date of the filing.
However, pursuant to Rule 19b-4(f)(6)(iii),\26\ the Commission may
designate a shorter time if such action is consistent with the
protection of investors and the public interest. The Exchange has asked
the Commission to waive the 30-day operative delay so that the proposal
may become operative immediately upon filing. The Exchange states that
waiver of the 30-day operative delay will allow the Funds to transfer
listing to the Exchange as soon as is practicable and minimize the
amount of time that the Funds' listing venue will be in transition. The
Funds have previously been approved by the Commission to list and trade
on NYSE Arca, Inc.\27\ The Exchange states that this proposal is
substantively identical to the Prior Proposal and the issuer represents
that all material representations contained within the Prior Proposal
remain true. For these reasons, the Commission believes that waiver of
the 30-day operative delay is consistent with the protection of
investors and the public interest. Accordingly, the Commission waives
the 30-day operative delay and designates the proposed rule change
operative upon filing.\28\
---------------------------------------------------------------------------

    \25\ 17 CFR 240.19b-4(f)(6).
    \26\ 17 CFR 240.19b-4(f)(6)(iii).
    \27\ See supra note 10.
    \28\ For purposes only of waiving the 30-day operative delay,
the Commission has also considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-CboeBZX-2020-092 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-CboeBZX-2020-092. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for inspection
and copying at the principal office of the Exchange. All comments
received will be posted without change. Persons submitting comments are
cautioned that we do not redact or edit personal identifying
information from comment submissions. You should submit only
information that you wish to make available publicly. All submissions
should refer to File Number SR-CboeBZX-2020-092 and should be submitted
on or before January 12, 2021.
    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\29\
---------------------------------------------------------------------------

    \29\ 17 CFR 200.30-3(a)(12).

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-28149 Filed 12-21-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 78, Number 28 (Monday, February 11, 2013)]
[Notices]
[Page 9749]
[FR Doc No: 2013-02954]

=======================================================================
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SECURITIES AND EXCHANGE COMMISSION

[SEC File No. 270-149, OMB Control No. 3235-0130]

Submission for OMB Review; Comment Request

Upon Written Request Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.
Extension:
    Rule 17Ad-2(c), (d), and (h).

    Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.) (``PRA''), the Securities and Exchange
Commission (Commission) has submitted to the Office of Management and
Budget (``OMB'') a request for approval of extension of the previously
approved collection of information provided for in Rule 17Ad-2(c), (d),
and (h), (17 CFR 240.17Ad-2(c), (d), and (h)), under the Securities
Exchange Act of 1934 (15 U.S.C. 78a et seq.).
    Rule 17Ad-2(c), (d) and (h) enumerates the requirements with which
registered transfer agents must comply to inform the Commission or the
appropriate regulator of a transfer agent's failure to meet the minimum
performance standards set by the Commission rule by filing a notice.
    While it is estimated there are 477 registered transfer agents,
approximately 116 of these transfer agents qualify as small entities
under Exchange Act Rule 0.10, 17 CFR 240.0.10 and are thereby exempted
from Rule 17Ad-2(c), (d), and (h), leaving approximately 361 transfer
agents subject to the rule. Each of these transfer agents annually
files about five notices pursuant to Rule 17Ad-2(c), (d), and (h), for
an industry-wide total of 1,805 notices per year (361 x 5). The
estimated annual cost of these filings to respondents is minimal in
view of: (a) the readily available nature of most of the information
required to be included in the notice (since that information must be
compiled and retained pursuant to other Commission rules); and (b) the
summary fashion in which such information must be presented in the
notice (most notices are one page or less in length). In light of the
above, and based on the experience of the staff regarding the notices,
the Commission staff estimates that, on average, most notices require
approximately one-half hour to prepare. Thus, the Commission staff
estimates that each transfer agent subject to the rule spends an
average of two and a half hours per year complying with the rule for an
industry-wide total of 902.5 hours per year (361 x 2.5).
    The retention period for the recordkeeping requirement under Rule
17Ad-2(c), (d), and (h) is not less than two years following the date
the notice is submitted. The recordkeeping requirement under this rule
is mandatory to assist the Commission in monitoring transfer agents who
fail to meet the minimum performance standards set by the Commission
rule. This rule does not involve the collection of confidential
information. A transfer agent is not required to file under the rule
unless it does not meet the minimum performance standards for
turnaround, processing or forwarding items received for transfer during
a month.
    The Commission may not conduct or sponsor a collection of
information unless it displays a currently valid OMB control number. No
person shall be subject to any penalty for failing to comply with a
collection of information subject to the PRA that does not display a
valid OMB control number.
    Background documentation for this information collection may be
viewed at the following Web site: www.reginfo.gov. Comments should be
directed to: (i) Desk Officer for the Securities and Exchange
Commission, Office of Information and Regulatory Affairs, Office of
Management and Budget, Room 10102, New Executive Office Building,
Washington, DC 20503, or by sending an email to<EMAIL_ADDRESS>and (ii) Thomas Bayer, Director/Chief Information
Officer, Securities and Exchange Commission, c/o Remi Pavlik-Simon,
6432 General Green Way, Alexandria, VA 22312 or send an email to<EMAIL_ADDRESS>Comments must be submitted to OMB within 30 days of
this notice.

    Dated: February 5, 2013.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2013-02954 Filed 2-8-13; 8:45 am]
BILLING CODE 8011-01-P


316B RULE TELEPHONE LOG Name of Caller: John Sunda, SAIC Date: November 21, 2002 Company Name: Brackett Green Street Address:

City/ State/ ZIP: Houston, TX Person Contacted: Trent Gathright Title: Sales Manager Telephone #: 281 480 7955 Talked to ( receptionist) forwarded to Trent Called to inquire capital & O& M costs of dual flow screens For dual flow retrofits the relative costs compared to through flow traveling screens with fish handling is as follows: ° For screen well depths of 0 to < 20 ft add 15% ° For screen well depths of 20 to < 40 ft add 10% ° For screen well depths of 40 to 60 ft add 5%

The ability to retrofit with dual flow screens particularly for wider screens is site specific. Most screen wells have five ft of open space parallel to flow and to put in a screen that would reduce screen velocity would need to be larger than 5 ft for 10 & 15 ft through flow screens. In many cases it is possible to cut out the front part of the concrete deck but it depends on if there is enough room ( i. e., there is not something in the way).

Regarding O& M costs, The O& M costs are much lower. Annual labor goes from 300 hrs to 30 hours. The wash water flow is nearly cut in half and the spray water pressure is reduced from 80 120 psi to 30 psi. He said that retrofits can pay for themselves in 2 to 5 yrs. He will send some example cost analyses.

Cost for lost power can be estimated at $ 1,000 per MW per day. This confirms use of $ 0.04/ Kwh, since 1,000 X 0.04 X 24 = $ 960.