[Federal Register Volume 76, Number 76 (Wednesday, April 20, 2011)]
[Notices]
[Page 22116]
[FR Doc No: 2011-9554]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Docket ID FEMA-2010-0069]

Agency Information Collection Activities: Submission for OMB
Review; Comment Request, OMB No. 1660-0010; Implementation of Coastal
Barrier Resources Act

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice; 30-day notice and request for comments; extension,
without change, of a currently approved information collection; OMB No.
1660-0010; FEMA Form, None.

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SUMMARY: The Federal Emergency Management Agency (FEMA) will submit the
information collection abstracted below to the Office of Management and
Budget for review and clearance in accordance with the requirements of
the Paperwork Reduction Act of 1995. The submission will describe the
nature of the information collection, the categories of respondents,
the estimated burden (i.e., the time, effort and resources used by
respondents to respond) and cost, and the actual data collection
instruments FEMA will use.

DATES: Comments must be submitted on or before May 20, 2011.

ADDRESSES: Submit written comments on the proposed information
collection to the Office of Information and Regulatory Affairs, Office
of Management and Budget. Comments should be addressed to the Desk
Officer for the Department of Homeland Security, Federal Emergency
Management Agency, and sent via electronic mail to
<EMAIL_ADDRESS>or faxed to<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection should be made to Director,
Records Management Division, 1800 South Bell Street, Arlington, VA
20598-3005, facsimile number<PHONE_NUMBER>, or e-mail address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Collection of Information

    Title: Implementation of Coastal Barrier Resources Act.
    Type of Information Collection: Extension, without change, of a
currently approved information collection.
    OMB Number: 1660-0010.
    Form Titles and Numbers: No forms.
    Abstract: When an application for flood insurance is submitted for
buildings located in Coastal Barrier Resources System (CBRS)
communities, one of the following types of documentation must be
submitted as evidence of eligibility: (a) Certification from a
community official stating the building is not located in a designated
CBRS area; (b) A legally valid building permit or certification from a
community official stating that the start date of a building's
construction preceded the date that the community was identified in the
CBRS; or (c) Certification from the governmental body overseeing the
area indicating that the building is used in a manner consistent with
the purpose for which the area is protected.
    Affected Public: Individuals or households; Businesses or other
for-profits; Not-for-profit institutions; Farms; Federal Government;
and State, local or Tribal governments.
    Estimated Number of Respondents: 2690.
    Frequency of Response: Once.
    Estimated Average Hour Burden per Respondent: .25 hours.
    Estimated Total Annual Burden Hours: 672.5 hours.
    Estimated Cost: The estimated annual operations and maintenance
costs for technical services is $2690.00.

    Dated: April 14, 2011.
 Lesia M. Banks,
Director, Records Management Division, Mission Support Bureau, Federal
Emergency Management Agency, Department of Homeland Security.
[FR Doc. 2011-9554 Filed 4-19-11; 8:45 am]
BILLING CODE 9110-11-P


[Federal Register Volume 87, Number 11 (Tuesday, January 18, 2022)]
[Notices]
[Pages 2604-2605]
[FR Doc No: 2022-00814]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 15244-000]

PacifiCorp; Notice of Preliminary Permit Application Accepted for
Filing and Soliciting Comments, Motions To Intervene, and Competing
Applications

    On October 13, 2021, PacifiCorp filed an application for a
preliminary permit, pursuant to section 4(f) of the Federal Power Act,
proposing to study the feasibility of the Rocky Ridge Pumped Storage
Project (Rocky Ridge Project or project), a closed-loop pumped storage
project to be located south of the town of Glenrock in Converse and
Natrona Counties, Wyoming. The proposed project would be located in
part on federal lands administered by the U.S. Bureau of Land
Management. The sole purpose of a preliminary permit, if issued, is to
grant the permit holder priority to file a license application during
the permit term. A preliminary permit does not authorize the permit
holder to perform any land-disturbing activities or otherwise enter
upon lands or waters owned by others without the owners' express
permission.
    Three alternatives are being considered for the Rocky Ridge
Project. Alternative 1 would located about seven miles southeast of the
town of Glenrock, Wyoming and consist of the following: (1) An upper
reservoir with a surface area of 164 acres and a storage volume of
approximately 3,032 acre-feet created by a 1,475-foot-long, 300-foot-
high embankment dam; (2) a lower reservoir with a surface area of 63.5
acres and a storage volume of approximately 3,100 acre-feet created by
a 4,600-foot-long, 60-foot-high embankment dam; (3) a 5.2-mile-long,
20-foot-diameter steel penstock connecting the upper reservoir with the
powerhouse/pump station; (4) a 150-foot-long, 50-foot-wide concrete
powerhouse/pump station located on the lower reservoir shoreline
containing three 167-megawatt (MW) generating/pumping units for a total
capacity of 500 MW; (5) a 4.2-mile-long, 230-kilovolt (kV) transmission
line interconnecting to PacifiCorp's Amasa substation; (6) a 11.4-mile-
long, 24-inch-diameter underground pipeline to divert water from the
North Platte River near Glenrock to the project for initial and
maintenance fill; and, (7) appurtenant facilities.
    The majority of the facilities for Alternative 2 (i.e., project
reservoirs, penstock, and powerhouse, etc.) would be located about
three miles southwest of Alternative 1 and consist of the following:
(1) An upper reservoir with a surface area of 202 acres and a storage
volume of approximately 3,096 acre-feet created by a 1,750-foot-long,
150-foot-high embankment dam; (2) a lower reservoir with a surface area
of 55.5 acres and a storage volume of approximately 3,100 acre-feet
created by a 2,950-foot-long, 30-foot-high embankment dam; (3) a 1.6-
mile-long, 20-foot-diameter steel penstock connecting the upper
reservoir with the powerhouse/pump station; (4) a 150-foot-long, 50-
foot-wide concrete powerhouse/pump station located on the lower
reservoir shoreline containing three 167-MW generating/pumping units
for a total capacity of 500 MW; (5) a 7-mile-long, 230-kV transmission
line interconnecting to PacifiCorp's Amasa substation; (6) a 14.3-mile-
long, 24-inch-diameter underground pipeline to divert water from the
North Platte River near Glenrock to the project for initial and
maintenance fill; and, (7) appurtenant facilities.
    The majority of the facilities for Alternative 3 (i.e., project
reservoirs, penstock, and powerhouse, etc.) would be located about
three miles southwest

of Alternative 2 and consist of the following: (1) An upper reservoir
with either: (a) A surface area of 73.1 acres and a storage volume of
approximately 3,615 acre-feet created by a 6,100-foot-long, 200-foot-
high embankment dam or (b) with a surface area of 256 acres and a
storage volume of approximately 3,700 acre-feet created by a 2,400-
foot-long, 240-foot-high embankment dam; (2) a lower reservoir with a
surface area of 73.1 acres and a storage volume of approximately 3,800
acre-feet created by a 4,900-foot-long, 130-foot-high embankment dam;
(3) either a 1.7- or 4.2-mile-long, 20-foot steel penstock with a
diameter of 20-feet connecting the upper reservoir with the powerhouse/
pump station; (4) a 150-foot-long, 50-foot-wide concrete powerhouse/
pump station located on the lower reservoir shoreline containing three
167-MW generating/pumping units for a total capacity of 500 MW; (5) a
10.1-mile-long, 230-kV transmission line interconnecting to
PacifiCorp's Amasa substation; (6) a 17.8-mile-long, 24-inch-diameter
underground pipeline to divert water from the North Platte River near
Glenrock to the project for initial and maintenance fill; and, (7)
appurtenant facilities.
    The estimated annual generation of the Rocky Ridge Project would be
1,460 gigawatt-hours.
    Applicant Contact: Tim Hemstreet, Managing Director, Renewable
Energy Development, PacifiCorp, 825 NE Multnomah, Suite 1800, Portland,
OR 97232; email: [email protected]; phone:<PHONE_NUMBER>.
    FERC Contact: John Matkowski; email: [email protected];
phone:<PHONE_NUMBER>.
    Deadline for filing comments, motions to intervene, competing
applications (without notices of intent), or notices of intent to file
competing applications: 60 days from the issuance of this notice.
Competing applications and notices of intent must meet the requirements
of 18 CFR 4.36.
    The Commission strongly encourages electronic filing. Please file
comments, motions to intervene, notices of intent, and competing
applications using the Commission's eFiling system at http://www.ferc.gov/docs-filing/efiling.asp. Commenters can submit brief
comments up to 6,000 characters, without prior registration, using the
eComment system at http://www.ferc.gov/docs-filing/ecomment.asp. You
must include your name and contact information at the end of your
comments. In lieu of electronic filing, you may submit a paper copy.
Submissions sent via the U.S. Postal Service must be addressed to:
Kimberly D. Bose, Secretary, Federal Energy Regulatory Commission, 888
First Street NE, Room 1A, Washington, DC 20426. Submissions sent via
any other carrier must be addressed to: Kimberly D. Bose, Secretary,
Federal Energy Regulatory Commission, 12225 Wilkins Avenue, Rockville,
Maryland 20852. The first page of any filing should include docket
number P-15244-000.
    More information about this project, including a copy of the
application, can be viewed or printed on the ``eLibrary'' link of
Commission's website at http://www.ferc.gov/docs-filing/elibrary.asp.
Enter the docket number (P-15244) in the docket number field to access
the document. For assistance, contact FERC Online Support.

    Dated: January 11, 2022.
Kimberly D. Bose,
Secretary.
[FR Doc. 2022-00814 Filed 1-14-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register: June 3, 2009 (Volume 74, Number 105)]
[Notices]
[Page 26692-26693]
[DOCID:fr03jn09-62]

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ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OPP-2008-0383; FRL-8411-8]

L-Lactic Acid Registration Review Final Decision; Notice of
Availability

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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SUMMARY: This notice announces the availability of EPA's final
registration review decision for the pesticide L-Lactic Acid, case
6062. Registration review is EPA's periodic review of pesticide
registrations to ensure that each pesticide continues to satisfy the
statutory standard for registration, that is, that the pesticide can
perform its intended function without causing unreasonable adverse
effects on human health or the environment. Through this program, EPA
is ensuring that each pesticide's registration is based on current
scientific and other knowledge, including its effects on human health
and the environment.

FOR FURTHER INFORMATION CONTACT: For pesticide specific information,
contact: Andrew Bryceland, Biopesticide and Pollution Prevention
Division (7511P), Office of Pesticide Programs, Environmental
Protection Agency, 1200 Pennsylvania Ave., NW., Washington, DC 20460-
0001; telephone number:<PHONE_NUMBER> ; fax number:<PHONE_NUMBER>; e-
mail address<EMAIL_ADDRESS>    For general information on the registration review program,
contact: Kevin Costello, Special Review and Reregistration Division
(7508P), Office of Pesticide Programs, Environmental Protection Agency,
1200 Pennsylvania Ave., NW., Washington, DC 20460-0001; telephone
number:<PHONE_NUMBER>; fax number:<PHONE_NUMBER>; e-mail address:
costello.kevin @epa.gov.

SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this Action Apply to Me?

    This action is directed to the public in general, and may be of
interest to a wide range of stakeholders including environmental, human
health, farm worker, and agricultural advocates; the chemical industry;
pesticide users; and members of the public interested in the sale,
distribution, or use of pesticides. Since others also may be
interested, the Agency has not attempted to describe all the specific
entities that may be affected by this action. If you have any questions
regarding the applicability of this action to a particular entity,
consult the pesticide specific contact person listed under FOR FURTHER
INFORMATION CONTACT.

B. How Can I Get Copies of this Document and Other Related Information?

    1. Docket. EPA has established a docket for this action under
docket identification (ID) number EPA-HQ-OPP-2008-0383. Publicly
available docket materials are available either in the electronic
docket at http://www.regulations.gov, or, if only available in hard
copy, at the Office of Pesticide Programs (OPP) Regulatory Public
Docket in Rm. S-4400, One Potomac Yard (South Bldg.), 2777 S. Crystal
Dr., Arlington, VA. The hours of operation of this Docket Facility are
from 8:30 a.m. to 4 p.m., Monday through Friday, excluding legal
holidays. The Docket Facility telephone number is<PHONE_NUMBER>.
    2. Electronic access. You may access this Federal Register document
electronically through the EPA Internet under the ``Federal Register''
listings at http://www.epa.gov/fedrgstr.

II. Background

A. What Action is the Agency Taking?

    Pursuant to 40 CFR 155.58(c), this notice announces the
availability of EPA's final registration review decision for L-Lactic
Acid, case 6062. L-Lactic Acid is a low-toxicity acid that occurs
naturally in several foods and is primarily found in fermented milk
products. However, L-Lactic Acid also occurs naturally in meats,
fruits, tomato juice, beer, wine, molasses, blood and muscles of
animals, and in the soil. L-Lactic Acid is registered as a biochemical
pesticide used as a mosquito attractant (in traps). In addition, L-
Lactic Acid is also used as an antimicrobial disinfectant, indirect
food contact surface sanitizer, fungicide, and virucide when applied to
hard, non-porous surfaces such as tile, countertops, metal, or glass.
    Pursuant to 40 CFR 155.57, a registration review decision is the
Agency's determination whether a pesticide meets, or does not meet, the
standard for registration in FIFRA. EPA has considered L-Lactic Acid in
light of the FIFRA standard for registration. The L-Lactic Acid Final
Decision document in the docket describes the Agency's rationale for
issuing a registration review final decision for this pesticide.
    In addition to the final registration review decision document, the
registration review docket for L-Lactic Acid also includes other
relevant documents related to the registration review of this case. The
proposed registration review decision was posted to the docket and the
public was invited to submit any comments or new information. During
the 60-day comment period, no public comments were received.
    Pursuant to 40 CFR 155.58(c), the registration review case docket
for L-Lactic Acid will remain open until all actions required in the
final decision have been completed.
    Background on the registration review program is provided at:
http://www.epa.gov/oppsrrd1/

registration_review. Links to earlier documents related to the
registration review of this pesticide are provided at: http://
www.epa.gov/oppsrrd1/registration_review/l-lactic-acid/index.htm .

B. What is the Agency's Authority for Taking this Action?

    Section 3(g) of FIFRA and 40 CFR part 155, subpart C, provide
authority for this action.

List of Subjects

    Environmental protection, Registration review, Pesticides and
pests, L-Lactic Acid.

    Dated: May 20, 2009.
 W. Michael McDavit,
Acting Director, Biopesticides and Pollution Prevention Division,
Office of Pesticide Programs.
[FR Doc. E9-12643 Filed 6-2-09; 8:45 am]

BILLING CODE 6560-50-S


[Federal Register Volume 88, Number 117 (Tuesday, June 20, 2023)]
[Notices]
[Pages 39876-39885]
[FR Doc No: 2023-13005]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-97719; File No. SR-ISE-2023-11]

Self-Regulatory Organizations; Nasdaq ISE, LLC; Notice of Filing
of Proposed Rule Change To Amend the Short Term Option Series Program
in Supplementary Material .03 of Options 4, Section 5

June 13, 2023.
    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 May 31, 2023, Nasdaq ISE, LLC (``ISE'' or ``Exchange'') 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 Commission is publishing this notice to
solicit comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend the Short Term Option Series Program
in Supplementary Material .03 of Options 4, Section 5 (Series of
Options Contracts Open for Trading).
    The text of the proposed rule change is available on the Exchange's
website at https://listingcenter.nasdaq.com/rulebook/ise/rules, at the
principal office of the Exchange, and at the Commission's Public
Reference Room.

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

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

forth in sections A, B, and C below, of the most significant aspects of
such statements.

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

1. Purpose
    The Exchange proposes to amend Supplementary Material .03 of
Options 4, Section 5, ``Series of Options Contracts Open for Trading.''
Specifically, the Exchange proposes to expand the Short Term Option
Series Program to permit the listing of two Wednesday expirations for
options on United States Oil Fund, LP (``USO''), United States Natural
Gas Fund, LP (``UNG''), SPDR Gold Shares (``GLD''), iShares Silver
Trust (``SLV''), and iShares 20+ Year Treasury Bond ETF (``TLT'')
(collectively ``Exchange Traded Products'' or ``ETPs'').
    Currently, as set forth in Supplementary Material .03 to Options 4,
Section 5, after an option class has been approved for listing and
trading on the Exchange as a Short Term Option Series pursuant to
Options 1, Section 1(a)(49),\3\ the Exchange may open for trading on
any Thursday or Friday that is a business day (``Short Term Option
Opening Date'') series of options on that class that expire at the
close of business on each of the next five Fridays that are business
days and are not Fridays in which monthly options series or Quarterly
Options Series expire (``Friday Short Term Option Expiration Dates'').
The Exchange may have no more than a total of five Short Term Option
Expiration Dates. Further, if the Exchange is not open for business on
the respective Thursday or Friday, the Short Term Option Opening Date
for Short Term Option Weekly Expirations will be the first business day
immediately prior to that respective Thursday or Friday. Similarly, if
the Exchange is not open for business on a Friday, the Short Term
Option Expiration Date for Short Term Option Weekly Expirations will be
the first business day immediately prior to that Friday.
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    \3\ Options 1, Section 1(a)(49) provides that a Short Term
Option Series means a series in an option class that is approved for
listing and trading on the Exchange in which the series is opened
for trading on any Monday, Tuesday, Wednesday, Thursday or Friday
that is a business day and that expires on the Monday, Wednesday or
Friday of the following business week that is a business day, or, in
the case of a series that is listed on a Friday and expires on a
Monday, is listed one business week and one business day prior to
that expiration. If a Tuesday, Wednesday, Thursday or Friday is not
a business day, the series may be opened (or shall expire) on the
first business day immediately prior to that Tuesday, Wednesday,
Thursday or Friday. For a series listed pursuant to this section for
Monday expiration, if a Monday is not a business day, the series
shall expire on the first business day immediately following that
Monday.
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    Additionally, the Exchange may open for trading series of options
on the symbols provided in Table 1 of Supplementary Material .03 to
Options 4, Section 5 that expire at the close of business on each of
the next two Mondays, Tuesdays, Wednesdays, and Thursdays,
respectively, that are business days and are not business days in which
monthly options series or Quarterly Options Series expire (``Short Term
Option Daily Expirations''). For those symbols listed in Table 1, the
Exchange may have no more than a total of two Short Term Option Daily
Expirations for each of Monday, Tuesday, Wednesday, and Thursday
expirations at one time.
Proposal
    At this time, the Exchange proposes to expand the Short Term Option
Daily Expirations to permit the listing and trading of options on USO,
UNG, GLD, SLV, and TLT expiring on Wednesdays. The Exchange proposes to
permit two Short Term Option Expiration Dates beyond the current week
for each Wednesday expiration at one time.\4\ In order to effectuate
the proposed changes, the Exchange would add USO, UNG, GLD, SLV, and
TLT to Table 1 of Supplementary Material .03 to Options 4, Section 5,
which specifies each symbol that qualifies as a Short Term Option Daily
Expiration.
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    \4\ Consistent with the current operation of the rule, the
Exchange notes that if it adds a Wednesday expiration on a Tuesday,
it could technically list three outstanding Wednesday expirations at
one time. The Exchange will therefore clarify the rule text in
Supplementary Material .03 to Options 4, Section 5 to specify that
it can list two Short Term Option Expiration Dates beyond the
current week for each Monday, Tuesday, Wednesday, and Thursday
expiration.
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    The proposed Wednesday USO, UNG, GLD, SLV, and TLT expirations will
be similar to the current Wednesday SPY, QQQ, and IWM Short Term Option
Daily Expirations set forth in Supplementary Material .03 to Options 4,
Section 5, such that the Exchange may open for trading on any Tuesday
or Wednesday that is a business day (beyond the current week) series of
options on USO, UNG, GLD, SLV, and TLT to expire on any Wednesday of
the month that is a business day and is not a Wednesday in which
Quarterly Options Series expire (``Wednesday USO Expirations,''
``Wednesday UNG Expirations,'' ``Wednesday GLD Expirations,''
``Wednesday SLV Expirations,'' and ``Wednesday TLT Expirations'')
(collectively, ``Wednesday ETP Expirations'').\5\ In the event Short
Term Option Daily Expirations expire on a Wednesday and that Wednesday
is the same day that a Quarterly Options Series expires, the Exchange
would skip that week's listing and instead list the following week; the
two weeks would therefore not be consecutive. Today, Wednesday
expirations in SPY, QQQ, and IWM similarly skip the weekly listing in
the event the weekly listing expires on the same day in the same class
as a Quarterly Options Series.
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    \5\ While the relevant rule text in Supplementary Material .03
to Options 4, Section 5 also indicates that the Exchange will not
list such expirations on a Wednesday that is a business day in which
monthly options series expire, practically speaking this would not
occur.
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    USO, UNG, GLD, SLV, and TLT Friday expirations would continue to
have a total of five Short Term Option Expiration Dates provided those
Friday expirations are not Fridays in which monthly options series or
Quarterly Options Series expire (``Friday Short Term Option Expiration
Dates'').
    Similar to Wednesday SPY, QQQ, and IWM Short Term Option Daily
Expirations within Supplementary Material .03 to Options 4, Section 5,
the Exchange proposes that it may open for trading on any Tuesday or
Wednesday that is a business day series of options on USO, UNG, GLD,
SLV, and TLT that expire at the close of business on each of the next
two Wednesdays that are business days and are not business days in
which Quarterly Options Series expire.
    The interval between strike prices for the proposed Wednesday ETP
Expirations will be the same as those for the current Short Term Option
Series for Friday expirations applicable to the Short Term Option
Series Program.\6\ Specifically, the Wednesday ETP Expirations will
have a strike interval of $0.50 or greater for strike prices below
$100, $1 or greater for strike prices between $100 and $150, and $2.50
or greater for strike prices above $150.\7\ As is the case with other
equity options series listed pursuant to the Short Term Option Series
Program, the Wednesday ETP Expirations series will be P.M.-settled.
---------------------------------------------------------------------------

    \6\ See Supplementary Material .03(e) to Options 4, Section 5.
    \7\ Id.
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    Pursuant to Options 1, Section 1(a)(49), with respect to the Short
Term Option Series Program, a Wednesday expiration series shall expire
on the first business day immediately prior to that Wednesday, e.g.,
Tuesday of that week if the Wednesday is not a business day.
    Currently, for each option class eligible for participation in the
Short

Term Option Series Program, the Exchange is limited to opening thirty
(30) series for each expiration date for the specific class.\8\ The
thirty (30) series restriction does not include series that are open by
other securities exchanges under their respective weekly rules; the
Exchange may list these additional series that are listed by other
options exchanges.\9\ With the proposed changes, this thirty (30)
series restriction would apply to Wednesday USO, UNG, GLD, SLV, and TLT
Short Term Option Daily Expirations as well. In addition, the Exchange
will be able to list series that are listed by other exchanges,
assuming they file similar rules with the Commission to list Wednesday
ETP Expirations.
---------------------------------------------------------------------------

    \8\ See Supplementary Material .03(a) to Options 4, Section 5.
    \9\ Id.
---------------------------------------------------------------------------

    With this proposal, Wednesday ETP Expirations would be treated
similarly to existing Wednesday SPY, QQQ, and IWM Expirations. With
respect to monthly option series, Short Term Option Daily Expirations
will be permitted to expire in the same week in which monthly option
series on the same class expire. Not listing Short Term Option Daily
Expirations for one week every month because there was a monthly on
that same class on the Friday of that week would create investor
confusion.
    Further, as with Wednesday SPY, QQQ, and IWM Expirations, the
Exchange would not permit Wednesday ETP Expirations to expire on a
business day in which monthly options series or Quarterly Options
Series expire. Therefore, all Short Term Option Daily Expirations would
expire at the close of business on each of the next two Wednesdays that
are business days and are not business days in which monthly options
series or Quarterly Options Series expire. The Exchange believes that
it is reasonable to not permit two expirations on the same day in which
a monthly options series or a Quarterly Options Series would expire
because those options would be duplicative of each other.
    The Exchange does not believe that any market disruptions will be
encountered with the introduction of Wednesday ETP Expirations. The
Exchange has the necessary capacity and surveillance programs in place
to support and properly monitor trading in the proposed Wednesday ETP
Expirations. The Exchange currently trades P.M.-settled Short Term
Option Series that expire Wednesday for SPY, QQQ and IWM and has not
experienced any market disruptions nor issues with capacity. Today, the
Exchange has surveillance programs in place to support and properly
monitor trading in Short Term Option Series that expire Wednesday for
SPY, QQQ and IWM.
Impact of Proposal
    The Exchange notes that listings in the Short Term Option Series
Program comprise a significant part of the standard listings in options
markets. The below diagrams demonstrate the percentage of weekly
listings compared to monthly, quarterly, and Long-Term Option Series in
2020 and 2022 in the options industry.\10\ The weekly strikes decreased
from 24% to 19% in these two years. The Exchange notes that during this
timeframe all options exchanges mitigated weekly strike intervals.
---------------------------------------------------------------------------

    \10\ The Exchange sourced this information from The Options
Clearing Corporation (``OCC''). The information includes time
averaged data for all 16 options markets up to August 18, 2022.
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BILLING CODE 8011-01-P

[GRAPHIC] [TIFF OMITTED] TN20JN23.000

    While the Exchange is expanding the Short Term Option Series
Program to permit USO, UNG, GLD, SLV, and TLT Wednesday Expirations,
the Exchange anticipates that it would overall add a small number of
weekly expiration dates because the Exchange will limit the number of
Short Term Option Daily Expirations for these ETPs to two Wednesday
expirations. The below chart displays average daily volume for options
on USO, UNG, GLD, SLV, and TLT.\11\
---------------------------------------------------------------------------

    \11\ Average daily volume data for options contracts are as of
November 2022.

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

[GRAPHIC] [TIFF OMITTED] TN20JN23.001

    The Exchange believes that there is general investor demand for
alternative expirations, including Wednesday expirations, as evidenced
by the relatively significant percentage of volume in Wednesday SPY,
QQQ, and IWM expirations. Notably, in 2022, the Exchange observed that
Wednesday expiration volume in SPY, QQQ, and IWM consisted of
approximately 23.3% (for SPY), 19.8% (for QQQ), and 10.9% (for IWM) of
total volume for the respective symbols.
    Further, the Exchange believes that there is investor demand for
additional Short Term Option Daily Expirations for USO, UNG, GLD, SLV,
and TLT based on the total assets under management (``AUM'') for these
Exchange Traded Products. As illustrated below, the ETPs are all
leading products in their respective asset classes.\12\
---------------------------------------------------------------------------

    \12\ AUM data for ETPs are as of November 2022.

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

[GRAPHIC] [TIFF OMITTED] TN20JN23.002

[GRAPHIC] [TIFF OMITTED] TN20JN23.003

    In addition, the below chart shows post-close movements between
4:00-5:30 p.m. Eastern Time, and indicates that GLD, SLV, TLT, UNG, and
USO are less volatile (strike-wise) than SPY,

QQQ, and IWM, where alternative expirations exist today.
[GRAPHIC] [TIFF OMITTED] TN20JN23.004

    Furthermore, the below chart shows that GLD, SLV, TLT, UNG, and USO
are less volatile in the last 30 minutes of trading than SPY, QQQ, and
IWM, which have alternative expirations today.
[GRAPHIC] [TIFF OMITTED] TN20JN23.005

BILLING CODE 8011-01-C
    The Exchange also notes that GLD, SLV, TLT, USO, and UNG currently
trade within ``complexes'' where, in addition to the underlying
security, there are multiple instruments available for hedging.
Specifically, the GLD complex includes:

.GC--COMEX Gold Futures--CME
.AUD--Gold Daily Futures--ICE
$IAU--iShares Gold Trust
$GLDM--SPDR Gold Minishares Trust
$SGOL--Aberdeen Physical Gold Trust
$BAR--GraniteShares Gold Shares

    The SLV complex includes:

.SI--COMEX Silver Futures--CME
.HIO--Silver Daily Futures--ICE
$SIVR--Aberdeen Physical Silver Trust

    The USO complex includes:

.CL--CME WTI Light Sweet Crude Futures
.HIO--Brent Crude Futures--ICE
$DBO--Invesco DB Oil Fund
$BNO--United States Brent Oil Trust
$OIL--iPath Pure Beta Crude Oil ETN

    The UNG complex includes:

.NG--Henry Hub Natural Gas Futures
ICE--Financial Gas Markets (multi)--ICE
$FCG--First Trust Natural Gas ETF
$UNL--United States 12 mo NG ETF
$HUN--Horizons Natural Gas ETF

    Lastly, the TLT complex includes:

CME--Multiple Interest Rate Futures
ICE--Multiple Interest Rate Futures
US Treasury Securities
$IEF--iShares 7-10 Year Treasury Bond ETF
$GOVT--iShares Barclays US Treasury Bond ETF
Numerous highly correlated FICC ETPs

    Given the multi-asset class nature of these products and available
hedges in highly-correlated instruments, the Exchange believes that its
proposal to add Wednesday expirations on these products will not be a
strain on liquidity providers.
    Because the Exchange proposes to limit the number of Wednesday
Expirations for options on USO, UNG, GLD, SLV, and TLT to two
expirations beyond the current week, the Exchange believes that the
addition of these Wednesday ETP Expirations should encourage Market
Makers to continue to deploy capital more efficiently and improve
displayed market quality.\13\
---------------------------------------------------------------------------

    \13\ Market Makers include Primary Market Makers and Competitive
Market Makers. See ISE Options 1, Section 1(a)(21). Today, Primary
Market Makers and Competitive Market Makers are required to quote a
specified time in their assigned options series. See ISE Options 2,
Section 5.
---------------------------------------------------------------------------

    Similar to SPY, QQQ and IWM Wednesday Expirations, the introduction
of Wednesday ETP Expirations will, among other things, expand hedging
tools available to market participants and allow for a reduced premium
cost of buying portfolio protection. The Exchange believes that
Wednesday ETP Expirations will allow market participants to hedge their
portfolios with options on commodities (oil, natural gas, gold, and
silver) as well as treasury securities, and tailor their investment and
hedging needs more effectively.
Implementation
    The Exchange proposes to implement this rule change within 30 days
after Commission approval. The Exchange will issue an Options Trader
Alert to notify Members of the implementation date.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\14\ in general, and furthers the objectives of Section
6(b)(5) of the Act,\15\ in particular, in that it is designed to
promote just and equitable principles of trade, 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.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    Similar to Wednesday expirations in SPY, QQQ, and IWM, the proposal
to permit Wednesday ETP Expirations, subject to the proposed limitation
of two expirations beyond the current week, would protect investors and
the public interest by providing the investing public and other market
participants more choice and flexibility to closely tailor their
investment and hedging decisions in these options and allow for a
reduced premium cost of buying portfolio protection, thus allowing them
to better manage their risk exposure.
    ISE represents that it has an adequate surveillance program in
place to detect manipulative trading in the proposed option
expirations, in the same way that it monitors trading in the current
Short Term Option Series for Wednesday SPY, QQQ and IWM expirations.
The Exchange also represents that it has the necessary system capacity
to support the new expirations. Finally, the Exchange does not believe
that any market disruptions will be encountered with the introduction
of these option expirations. As discussed above, the Exchange believes
that its proposal is a modest expansion of weekly expiration dates for
GLD, SLV, USO, UNG, and TLT given that it will be limited to two
Wednesday expirations beyond the current week. Furthermore, the above
charts show less volatility in these five products (both in terms of
post-close and during the last 30 minutes of trading) compared to SPY,
QQQ, and IWM, which have alternative expirations (including Wednesday
expirations) today. Lastly, the Exchange believes its proposal will not
be a strain on liquidity provides because of the multi-class nature of
GLD, SLV, USO, UNG, and TLT and the available hedges in highly-
correlated instruments, as described above.
    The Exchange believes that the proposal is consistent with the Act
as the proposal would overall add a small number of Wednesday ETP
Expirations by limiting the addition of two Wednesday expirations
beyond the current week. The addition of Wednesday ETP Expirations
would remove impediments to and perfect the mechanism of a free and
open market by encouraging Market Makers to continue to deploy capital
more efficiently and improve displayed market quality.\16\ The Exchange
believes that the proposal will allow Members to expand hedging tools
and tailor their investment and hedging needs more effectively in USO,
UNG, GLD, SLV, and TLT as these funds are most likely to be utilized by
market participants to hedge the underlying asset classes.
---------------------------------------------------------------------------

    \16\ Today, Primary Market Makers and Market Makers are required
to quote a specified time in their assigned options series. See ISE
Options 2, Section 5.
---------------------------------------------------------------------------

    Similar to Wednesday SPY, QQQ, and IWM expirations, the
introduction of Wednesday ETP Expirations is consistent with the Act as
it will, among other things, expand hedging tools available to market
participants and allow for a reduced premium cost of buying portfolio
protection. The Exchange believes that Wednesday ETP Expirations will
allow market participants to purchase options on USO, UNG, GLD, SLV,
and TLT based on their timing as needed and allow them to tailor their
investment and hedging needs more effectively, thus allowing them to
better manage their risk exposure. Today, ISE lists Wednesday SPY, QQQ,
and IWM Expirations.\17\
---------------------------------------------------------------------------

    \17\ See ISE Supplementary Material .03 at Options 4, Section 5.
---------------------------------------------------------------------------

    In particular, the Exchange believes the Short Term Option Series
Program has been successful to date and that Wednesday ETP Expirations
should simply expand the ability of investors to hedge risk against
market movements stemming from economic releases or market events that
occur throughout the

month in the same way that the Short Term Option Series Program has
expanded the landscape of hedging.
    There are no material differences in the treatment of Wednesday
SPY, QQQ and IWM expirations compared to the proposed Wednesday ETP
Expirations. Given the similarities between Wednesday SPY, QQQ and IWM
expirations and the proposed Wednesday ETP Expirations, the Exchange
believes that applying the provisions in Supplementary Material .03 to
Options 4, Section 5 that currently apply to Wednesday SPY, QQQ and IWM
expirations is justified. For example, the Exchange believes that
allowing Wednesday ETP Expirations and monthly Exchange Traded Product
expirations in the same week will benefit investors and minimize
investor confusion by providing Wednesday ETP Expirations in a
continuous and uniform manner.

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.
    While the proposal will expand the Short Term Options Expirations
to allow Wednesday ETP Expirations to be listed on ISE,\18\ the
Exchange believes that this limited expansion for Wednesday expirations
for options on USO, UNG, GLD, SLV, and TLT will not impose an undue
burden on competition; rather, it will meet customer demand. The
Exchange believes that Members will continue to be able to expand
hedging tools and tailor their investment and hedging needs more
effectively in USO, UNG, GLD, SLV, and TLT given multi-class nature of
these products and the available hedges in highly-correlated
instruments, as described above.
---------------------------------------------------------------------------

    \18\ As noted above, Nasdaq, Phlx, BX, GEMX and MRX incorporate
ISE Options 4, Section 5 by reference, so the proposed changes
herein will apply to those markets as well.
---------------------------------------------------------------------------

    Similar to Wednesday SPY, QQQ and IWM expirations, the introduction
of Wednesday ETP Expirations does not impose an undue burden on
competition. The Exchange believes that it will, among other things,
expand hedging tools available to market participants and allow for a
reduced premium cost of buying portfolio protection. The Exchange
believes that Wednesday ETP Expirations will allow market participants
to purchase options on USO, UNG, GLD, SLV, and TLT based on their
timing as needed and allow them to tailor their investment and hedging
needs more effectively.
    The Exchange does not believe the proposal will impose any burden
on inter-market competition, as nothing prevents the other options
exchanges from proposing similar rules to list and trade Wednesday ETP
Expirations.\19\ Further, the Exchange does not believe the proposal
will impose any burden on intra-market competition, as all market
participants will be treated in the same manner under this proposal.
---------------------------------------------------------------------------

    \19\ See supra note 18.
---------------------------------------------------------------------------

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

    No written comments were either solicited or received.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) by order approve or disapprove the proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.

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 (https://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
file number SR-ISE-2023-11 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-ISE-2023-11. 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 (https://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
a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of the Exchange. Do not
include personal identifiable information in submissions; you should
submit only information that you wish to make available publicly. We
may redact in part or withhold entirely from publication submitted
material that is obscene or subject to copyright protection. All
submissions should refer to file number SR-ISE-2023-11 and should be
submitted on or before July 11, 2023.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\20\
---------------------------------------------------------------------------

    \20\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-13005 Filed 6-16-23; 8:45 am]
BILLING CODE 8011-01-P


Waivers Comment Response New Topic Summ. ID Summary Response Document ID 4 151 Section 1.4, Waivers: The existing waivers are overly conservative and their use will be limited. We request that EPA review these waivers and amend them to more reasonable real life scenarios and make them useful to the regulated community. The waivers referenced in Section 1.4 are consistent with Federal regulations at 40 CFR 122.26( b)( 15)( i)( A)( B). 1028 and 1024 4 152 We recommend that EPA adopt a waiver for all construction activities that meet certain criteria, for instance, a construction site on relatively flat terrain that is some minimum distance from any body of water, with some minimum grade, and that has no potential to impact waters of the US by pollution from storm water run off, or is surrounded by cultivated private lands. The EPA has already adopted two waiver scenarios for construction activities designed to avoid the need for permitting under similar considerations. This comment is not applicable to this action. If there will be no discharge into waters of the US, then no permit coverage is necessary. See also response to comment 151. 1024 and 1028 4 154 According to the rule, one must either construct in an area of the country that has an extremely " low predicted rainfall erosivity" or " R" factor or have a comprehensive, location specific evaluation of water quality impacts that includes existing in stream concentrations, expected growth in pollutant concentrations from all sources, and a margin of safety. The low " R" factor is only available in arid areas of the country and is time sensitive. The locationspecific evaluation of water quality impacts will be difficult to do, and the operator cannot commence construction until he submits the equivalent analysis to EPA for review and approval. This requirement is so onerous and time consuming that it will be of little practical use to the small construction site. Comment acknowledged. 1002 1 Waivers Comment Response New Topic Summ. ID Summary Response Document ID 4 155 APSC does, however, have concerns that the Small Construction Waivers may not be readily available to operators in Alaska. Upon review of Fact Sheet 3.1,

Construction Rainfall Erosivity Waiver, it became clear that critical erosivity data needed to calculate the modified " R" factor ( upon which the waiver applicability is based) are not available for the state of Alaska.

Attempts to determine if the necessary erosivity data is available in Alaska have been unsuccessful. It appears that Fact Sheet 3.1 is currently under revision. Will the revised Fact Sheet 3.1 include data pertinent to Alaska? If not, will this discrepancy be addressed in the permit? Will operators in Alaska have an alternate means of obtaining a Small Construction Waiver? At present, rainfall erosivity waivers are not available in Alaska as data are not readily available. Should information become available documenting eligibility of rainfall erosivity waivers in Alaska, construction site operators may use that information in submitting a waiver certification form. 1041 4 156 APSC does not believe that small construction activities in the State of Alaska should fall under the requirements of the 2003 CGP unless the opportunity for waivers are as readily available for operators in this state as they are for those located within the contiguous United States. See response to comment 155 1041 4 157 ' R' Factor Waiver for a Low Rainfall Erosivity Factor Should be Extended to Sites Larger Than 1 5 Acres ( Proposed CGP, pg. 45) EPA disagrees. Federal regulations specify that waivers are only available for small construction activities. See response to comment 151 1058 4 159 Guidance on how to develop an equivalent analysis waiver is needed. While the " equivalent analysis waiver" may be useful in theory, for most developer/ construction firms, the development of this analysis is way beyond the capability of the firms, most of whom are small businesses. NAHB urges EPA to develop guidance that shows step by step how the equivalent analysis waiver can be completed and to issue it concurrently with the final permit. This comment is outside the scope of this permit. See response to comment 151. EPA considered developing guidance on how an equivalent analysis waiver could be completed but believes that an equivalent analysis waiver should reasonably be consistent with the TMDL procedures in place for the specific state. As such, EPA believes it is appropriate for construction site operators that believe they are eligible for the water quality waiver using an equivalent analysis to document a rationale consistent with the applicable state's TMDL procedures. 1057 4 160 Waivers available for small construction sites should be extended to large construction sites. See response to comment 157. 1057 2 Waivers Comment Response New Topic Summ. ID Summary Response Document ID 4 163 ADOT does not anticipate utilizing the two waivers for small construction activities because it appears too cumbersome and detailed for our field personnel.

ADOT is proposing to follow the same process as if the project disturbed 5 or more acres. EPA acknowledges receipt of this comment. 1073 3


[Federal Register Volume 82, Number 34 (Wednesday, February 22, 2017)]
[Notices]
[Pages 11381-11383]
[FR Doc No: 2017-03461]

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

SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-80055; File No. SR-BX-2017-009]

Self-Regulatory Organizations; NASDAQ BX, Inc.; Notice of Filing
and Immediate Effectiveness of Proposed Rule Change To Increase the BX
Options Market Port Fees and Institute a Fee Cap at Chapter XV Section
3

February 16, 2017.
    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 February 8, 2017, NASDAQ BX, Inc. (``BX'' or ``Exchange'') filed
with the Securities and Exchange Commission (``SEC'' or ``Commission'')
the proposed rule change as described in Items I, II, and III below,
which Items have been prepared by the Exchange. The Commission is
publishing this notice to solicit comments on the proposed rule change
from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to increase the BX Options Market port fees
and institute a fee cap at Chapter XV Section 3.
    The text of the proposed rule change is available on the Exchange's
Web site at http://nasdaqbx.cchwallstreet.com/, at the principal office
of the Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The purpose of the proposed rule change is to increase the BX
Options Market port fees and institute a fee cap at Chapter XV Section
3(b).\3\ The Exchange notes that it has not increased fees for the
connectivity provided under the rule since its adoption in January 2015
\4\ notwithstanding that the costs that the Exchange incurs in offering
the connectivity have increased. As described below, the Exchange is
also proposing to limit the total amount that an Options Participant
\5\ may be assessed under the rule.
---------------------------------------------------------------------------

    \3\ The Exchange initially filed the proposed pricing changes on
February 1, 2017 (SR-BX-2017-005). On February 8, 2017, the Exchange
withdrew that filing and submitted this filing.
    \4\ See Securities Exchange Act Release No. 73894 (December 19,
2014), 79 FR 78119 (December 29, 2014) (SR-BX-2014-060).
    \5\ As defined by BX Options Rules Chapter II, Section 1.
---------------------------------------------------------------------------

    Under the Chapter XV Section 3(b), the Exchange assesses an Options
Participant $200 per port, per month, per mnemonic \6\ for Order Entry
Ports,\7\ CTI Ports,\8\ BX Depth Ports,\9\ BX TOP Ports,\10\ and Order
Entry DROP Ports \11\ without a cap on how much a Participant is
assessed.\12\ The Exchange is proposing to increase the fee assessed
for Order Entry Ports, CTI Ports, BX Depth Ports, BX TOP Ports, and
Order Entry DROP Ports to $650 per port, per month, per mnemonic, which
is consistent with the fees assessed by The NASDAQ Stock Market for
comparable connectivity.\13\ The Exchange is also

proposing to limit the amount a Participant must pay for the
aforementioned connectivity provided under Chapter XV Section 3(b) to
$7,500 per month.
---------------------------------------------------------------------------

    \6\ A ``mnemonic'' is a unique identifier consisting of a four
character alpha code.
    \7\ The Order Entry Port Fee is a connectivity fee in connection
with routing orders to the Exchange via an external order entry
port. BX Options Market Participants access the Exchange's network
through order entry ports. A BX Options Market Participant may have
more than one order entry port.
    \8\ CTI offers real-time clearing trade updates. A real-time
clearing trade update is a message that is sent to a member after an
execution has occurred and contains trade details. The message
containing the trade details is also simultaneously sent to The
Options Clearing Corporation. The trade messages are routed to a
member's connection containing certain information. The
administrative and market event messages include, but are not
limited to: System event messages to communicate operational-related
events; options directory messages to relay basic option symbol and
contract information for options traded on the Exchange; complex
strategy messages to relay information for those strategies traded
on the Exchange; trading action messages to inform market
participants when a specific option or strategy is halted or
released for trading on the Exchange; and an indicator which
distinguishes electronic and non-electronically delivered orders.
    \9\ A BX Depth Port provides access to BX Depth, which is a data
feed that provides quotation information for individual orders on
the BX book, last sale information for trades executed on BX, and
Order Imbalance Information as set forth in BX Options Rules Chapter
VI, Section 8. BX Depth is the options equivalent of the BX
TotalView/ITCH data feed that BX offers under BX Rule 7023 with
respect to equities traded on BX. As with TotalView, members use BX
Depth to ``build'' their view of the BX book by adding individual
orders that appear on the feed, and subtracting individual orders
that are executed. See Chapter VI, Section 1(a)(3)(A).
    \10\ BX TOP Port is a data feed that provides the BX Best Bid
and Offer (``BBO'') and last sale information for trades executed on
BX. The BBO and last sale information are identical to the
information that BX sends to the Options Price Regulatory Authority
(``OPRA'') and which OPRA disseminates via the consolidated data
feed for options. BX TOP Port is the options equivalent of the BX
Basic data feed offered for equities under BX Rule 7047. See Chapter
VI, Section 1(a)(3)(B).
    \11\ The DROP interface provides real time information regarding
orders sent to the BX Options Market and executions that occurred on
the BX Options Market. The DROP interface is not a trading interface
and does not accept order messages.
    \12\ The Exchange also assesses a $500 SQF Port fee, which is
assessed per port, per month. A SQF Port is a port that allows a
Participant acting as options Market Maker to enter its markets into
the BX Options Market. The Exchange is not proposing to amend the
fees assessed for SQF Ports or apply the proposed limit on fees to
SQF Port fees.
    \13\ See NASDAQ Options Rules Chapter XV, Section 3(b).
---------------------------------------------------------------------------

2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act,\14\ in general, and furthers the objectives of
Sections 6(b)(4) and 6(b)(5) of the Act,\15\ in particular, in that it
provides for the equitable allocation of reasonable dues, fees and
other charges among members and issuers and other persons using any
facility, and is not designed to permit unfair discrimination between
customers, issuers, brokers, or dealers.
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78f(b).
    \15\ 15 U.S.C. 78f(b)(4) and (5).
---------------------------------------------------------------------------

    The Exchange believes that increasing the fee assessed for Order
Entry Ports, CTI Ports, BX Depth Ports, BX TOP Ports, and Order Entry
DROP Ports to $650 per port, per month, per mnemonic is reasonable
because it is competitive with the fees of other exchanges.
Specifically, The NASDAQ Stock Market assesses $650 per port, per
month, per mnemonic for comparable connectivity under Nasdaq Options
Market Rules Chapter XV, Section 3(b). Moreover, the Exchange notes
that it has not increased fees for the connectivity provided under the
rule since it adopted the connectivity options on January 2, 2015,\16\
notwithstanding that costs associated with offering and supporting the
connectivity have increased, which include the cost of technology and
infrastructure. The costs that the Exchange incurs is substantially
similar to those that The NASDAQ Stock Market incurs, since both
exchanges use the same hardware and support services for the ports.
Thus, the Exchange has determined that $650 per port, per month, per
mnemonic is the appropriate fee that will allow it to cover its costs
and realize a profit, while avoiding an overall reduction in the number
of subscribers. The Exchange also believes that the proposed $7,500 fee
cap is reasonable because, taken together with the proposed fee
increase, it will allow the Exchange to cover costs while reducing the
impact of the fees on Options Participants that subscribe to a large
number of ports. Because Options Participants generally need an
increasing number of ports as provided under BX Options Market Rules
Chapter XV Section 3(b) as their activity expands on the BX Options
Market, the Exchange believes that without such a cap Options
Participants may be inhibited from growing their activity on the
Exchange. As a general principal, the Exchange believes that greater
participation on the BX Options Market by Options Participants improves
market quality for all market participants. Thus, in arriving at a fee
cap of $7,500, the Exchange balanced the desire to improve market
quality against the need to cover costs and make a profit.
---------------------------------------------------------------------------

    \16\ See note 4, supra.
---------------------------------------------------------------------------

    The Exchange believes that increasing the fee assessed for Order
Entry Ports, CTI Ports, BX Depth Ports, BX TOP Ports, and Order Entry
DROP Ports to $650 per port, per month, per mnemonic is an equitable
allocation and is not unfairly discriminatory because the increased fee
will apply to all Options Participants that have, or are seeking, the
connectivity provided under the rule. As noted above, the Exchange is
increasing the fees under the rule to align them with the costs
associated with offering the ports as well as to allow the Exchange to
realize a profit. The Exchange believes that the proposed $7,500 fee
cap is an equitable allocation and is not unfairly discriminatory
because the any Options Participant that subscribes to connectivity
under the rule that would otherwise exceed $7,500 per month will have
its fees capped. Although Options Participants that do not have fees
under the rule in excess of $7,500 per month will not benefit from the
fee cap, the Exchange notes that any Options Participant may increase
the number of ports subscribed to receive the fee cap, should their
activity on the BX Options Market warrant increased subscription.
Moreover, Options Participants that do not qualify for the fee cap will
benefit from the greater liquidity provided by Options Participants
that conduct a sufficient level of activity on the BX Options Market to
require connectivity in excess of the fee cap.
    The Exchange notes that it is not amending or applying a fee
limitation to SQF Port Fees, which are also provided under BX Options
Market Rules Chapter XV Section 3(b).\17\ The Exchange believes that it
is equitable and not unfairly discriminatory to increase the other port
fees, as proposed herein, and not increase the fee assessed for SQF
Port Fees because SQF Port Fees are used by BX market makers in
connection with their market making activities. Unlike other Options
Participants, BX market makers add value to the market through
continuous quoting and a commitment of capital. The Exchange believes
that not applying a limitation on fees to SQF Port Fees is equitable
and not unfairly discriminatory because the Exchange has found that
maintaining the separation between SQF ports and the other ports under
BX Options Market Rules Chapter XV Section 3(b) is appropriate given
the different purposes for subscribing to the ports. Moreover, the
Exchange does not believe that applying an independent fee limitation
to SQF Port Fees is warranted at this juncture because of the limited
number of SQF ports to which any single market maker subscribes.
---------------------------------------------------------------------------

    \17\ See note 12, supra.
---------------------------------------------------------------------------

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 not necessary or appropriate in
furtherance of the purposes of the Act. In terms of inter-market
competition, the Exchange notes that it operates in a highly
competitive market in which market participants can readily favor
competing venues if they deem fee levels at a particular venue to be
excessive, or rebate opportunities available at other venues to be more
favorable. In such an environment, the Exchange must continually adjust
its fees to remain competitive with other exchanges and with
alternative trading systems that have been exempted from compliance
with the statutory standards applicable to exchanges. Because
competitors are free to modify their own fees in response, and because
market participants may readily adjust their order routing practices,
the Exchange believes that the degree to which fee changes in this
market may impose any burden on competition is extremely limited.
    In this instance, the proposed changes to the charges assessed for
Order Entry Ports, CTI Ports, BX Depth Ports, BX TOP Ports, and Order
Entry DROP Ports under BX Options Market Rules Chapter XV Section 3(b)
do not impose a burden on competition because the Exchange's
connectivity services are completely voluntary and subject to extensive
competition both from other exchanges and from off-exchange venues. To
the extent that the changes are viewed unfavorably by Options
Participants, the proposed fees increase and fee cap may result in the
Exchange losing subscribership and market participation, which would
likely benefit other exchanges and trading venues. Accordingly, the
Exchange does not believe that the proposed changes will impair the
ability of Options Participants or competing order execution venues to
maintain their

competitive standing in the financial markets.

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

    No written comments were either solicited or received.

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

    The foregoing rule change has become effective pursuant to Section
19(b)(3)(A)(ii) of the Act.\18\
---------------------------------------------------------------------------

    \18\ 15 U.S.C. 78s(b)(3)(A)(ii).
---------------------------------------------------------------------------

    At any time within 60 days of the filing of the proposed rule
change, the Commission summarily may temporarily suspend such rule
change if it appears to the Commission that such action is: (i)
Necessary or appropriate in the public interest; (ii) for the
protection of investors; or (iii) otherwise in furtherance of the
purposes of the Act. If the Commission takes such action, the
Commission shall institute proceedings to determine whether the
proposed rule should be approved or disapproved.

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-BX-2017-009 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-BX-2017-009. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549 on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-BX-2017-009, and should be
submitted on or before March 15, 2017.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\19\
---------------------------------------------------------------------------

    \19\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2017-03461 Filed 2-21-17; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 87, Number 195 (Tuesday, October 11, 2022)]
[Notices]
[Pages 61314-61318]
[FR Doc No: 2022-22059]

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

ENVIRONMENTAL PROTECTION AGENCY

[EPA-HQ-OAR-2021-0669; FRL-9116-03-OAR]

Phasedown of Hydrofluorocarbons: Notice of 2023 Allowance
Allocations for Production and Consumption of Regulated Substances
Under the American Innovation and Manufacturing Act of 2020

AGENCY: Environmental Protection Agency (EPA).

ACTION: Notice.

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

SUMMARY: The Environmental Protection Agency (EPA) has issued calendar
year 2023 allowances for the production and consumption of
hydrofluorocarbons in accordance with the Agency's regulations as
established in the 2021 final rule titled Phasedown of
Hydrofluorocarbons: Establishing the Allowance Allocation and Trading
Program under the American Innovation and Manufacturing Act. The
American Innovation and Manufacturing Act directs the Environmental
Protection Agency by October 1 of each calendar year to determine the
quantity of production and consumption allowances for the following
calendar year. The Agency also provided notice to certain companies on
September 30, 2022, that the Agency intends to retire an identified set
of those companies' allowances in accordance with the administrative
consequences provisions established in the final rule.

FOR FURTHER INFORMATION CONTACT: Andy Chang, U.S. Environmental
Protection Agency, Stratospheric Protection Division, telephone number:
202-564-6658; email address: [email protected]. You may also visit
EPA's website at https://www.epa.gov/climate-hfcs-reduction for further
information.

SUPPLEMENTARY INFORMATION: Subsection (e)(2)(D)(i) of the American
Innovation and Manufacturing Act of 2020 (AIM Act) directs the
Environmental Protection Agency (EPA) to determine, by October 1 of
each calendar year, the quantity of allowances for the production and
consumption of regulated substances that may be used for the following
calendar year. EPA has codified the production and consumption
baselines and phasedown schedules for regulated substances in 40 CFR
84.7. Under the phasedown schedule, for 2023, total production
allowances may not exceed 344,299,157 metric tons of exchange value
equivalent (MTEVe) and total consumption allowances may not exceed
273,498,315 MTEVe.
    EPA regulations at 40 CFR part 84, subpart A, outline the process
by which the Agency determines the number of allowances each entity is
allocated. EPA allocated allowances consistent with this process for
calendar year 2023, and has posted entity-specific allowance
allocations on its website at https://www.epa.gov/climate-hfcs-reduction. An allowance allocated under the AIM Act does not constitute
a property right and is a limited authorization for the production or
consumption of a regulated substance.
    EPA has codified the procedure for calculating application-specific
allowance allocations in 40 CFR 84.13. These allowances are drawn from
both the production and consumption allowance pools. EPA is issuing
``application-specific allowances'' to end users in five applications
established by the AIM Act: propellants in metered dose inhalers,
defense sprays, structural composite preformed polyurethane foam for
marine use and trailer use, etching of semiconductor material or wafers
and the cleaning of chemical vapor deposition chambers within the
semiconductor manufacturing sector, and onboard aerospace fire
suppression. Additionally, EPA is issuing ``application-specific
allowances'' to the U.S. Department of Defense for mission-critical
military end uses.
    EPA has denied requests for application-specific allowances from
Applied Materials, Inc; Benuvia Manufacturing; General Electric Global
Research Center; Gilero LLC; Guardian Protective Devices, Inc.;
nHalience LLC; and Shamrock Filling LLC because they are ineligible
under 40 CFR 84.13. The requests were ineligible for at least one of
the following reasons:
    (1) Did not meet the criteria for HFC use in a covered application;
    (2) Did not submit by the deadline;
    (3) Did not provide proper supporting documentation or
justification for their requests; or
    (4) Did not report purchases of regulated substances in the past
three years.
    EPA has allocated 2023 application-specific allowances as shown in
Table 1.

     Table 1--Application-Specific Allowances for Calendar Year 2023
------------------------------------------------------------------------
                                                           Number of
                                                          application-
             Entity                   Application           specific
                                                       allowances issued
                                                           (MTEVe) \1\
------------------------------------------------------------------------
Analog Devices..................  Semiconductors.....           28,852.2
Apple...........................  Semiconductors.....            1,033.8
Armstrong Pharmaceuticals.......  Metered Dose                 157,231.4
                                   Inhalers.
ASML US.........................  Semiconductors.....            1,237.2
AstraZeneca Pharmaceuticals.....  Metered Dose                   4,652.7
                                   Inhalers.
Aurobindo Pharma USA............  Metered Dose                  65,427.9
                                   Inhalers.
Broadcom........................  Semiconductors.....              834.7
Compsys.........................  Structural                    14,152.8
                                   Composite Foam.
Defense Technology..............  Defense Sprays.....            9,366.7
Diodes Incorporated.............  Semiconductors.....            3,667.1
GlobalFoundries.................  Semiconductors.....          177,721.8
Hitachi High-Tech America.......  Semiconductors.....            1,064.4
IBM Corporation.................  Semiconductors.....              533.5
Intel Corporation...............  Semiconductors.....          746,212.5
InvaGen Pharmaceuticals.........  Metered Dose                  74,380.1
                                   Inhalers.
Jireh Semiconductor.............  Semiconductors.....            5,787.8
Keysight Technologies...........  Semiconductors.....              538.8
Kindeva Drug Delivery...........  Metered Dose                 408,952.0
                                   Inhalers.
Lupin...........................  Metered Dose                  24,098.0
                                   Inhalers.
Medtronic.......................  Semiconductors.....              637.6
Microchip Technology............  Semiconductors.....           31,266.7
Micron Technology...............  Semiconductors.....           42,600.7
Newport Fab DBA TowerJazz.......  Semiconductors.....            8,042.3
NXP Semiconductors..............  Semiconductors.....           86,878.8
Odin Pharmaceuticals............  Metered Dose                   1,708.5
                                   Inhalers.
Polar Semiconductor.............  Semiconductors.....           13,446.4
Proteng Distribution............  Onboard Aerospace              4,060.4
                                   Fire Suppression.
Qorvo Texas.....................  Semiconductors.....            1,237.2
Raytheon Technologies...........  Onboard Aerospace                952.6
                                   Fire Suppression.
Renesas Electronics America.....  Semiconductors.....            4,445.5
Samsung Austin Semiconductor....  Semiconductors.....          384,969.7
Security Equipment Corporation..  Defense Sprays.....           63,889.9
Semiconductor Components          Semiconductors.....           38,821.5
 Industries DBA ON Semiconductor.
SkyWater Technology.............  Semiconductors.....           17,549.8
Skyworks Solutions..............  Semiconductors.....            4,652.3
Texas Instruments...............  Semiconductors.....          194,744.9
The Research Foundation for The   Semiconductors.....              159.9
 State University of New York.
Tokyo Electron America..........  Semiconductors.....              558.8
Tower Semiconductor San Antonio.  Semiconductors.....            4,948.7
TSMC Arizona Corporation........  Semiconductors.....           32,632.0
UDAP Industries.................  Defense Sprays.....          110,727.8
Wabash National Corporation.....  Structural                    73,543.0
                                   Composite Foam.
WaferTech.......................  Semiconductors.....           22,355.4
Wolfspeed.......................  Semiconductors.....           36,114.7
X-FAB Texas.....................  Semiconductors.....            5,076.0
Zarc International..............  Defense Sprays.....            1,384.1
Department of Defense...........  Mission-critical           2,513,169.3
                                   Military End Uses.
                                                      ------------------
    Total.......................  All................        5,426,319.9
------------------------------------------------------------------------
\1\ Numbers may not sum due to rounding.

    EPA has codified the procedure for calculating the production
allowance allocation in 40 CFR 84.9. EPA has allocated calendar year
2023 production allowances as shown in Table 2.

          Table 2--Production Allowances for Calendar Year 2023
------------------------------------------------------------------------
                                                             Number of
                                                            production
                         Entity                             allowances
                                                          issued (MTEVe)
                                                                \1\
------------------------------------------------------------------------
Application-specific allowances \2\.....................     5,426,319.9
Arkema..................................................    40,873,469.3
Chemour.................................................    75,703,417.3
Honeywell International.................................   171,747,616.1
Iofina Chemical.........................................         1,758.6
Mexichem Fluor DBA Koura................................    50,546,575.8
                                                         ---------------
    Total...............................................   344,299,157.0
------------------------------------------------------------------------
\1\ Numbers may not sum due to rounding.
\2\ See Table 1.

    EPA has codified the procedure for calculating the consumption
allowance allocation in 40 CFR 84.11. Calendar year 2023 consumption
allowances have also been allocated to new market entrants consistent
with 40 CFR 84.15.\1\ EPA has allocated calendar year 2023 consumption
allowances as shown in Table 3.
---------------------------------------------------------------------------

    \1\ A comprehensive overview and discussion of allocation
decisions to new market entrants can be found in the Agency's April
5, 2022, notice Phasedown of Hydrofluorocarbons: Notice of 2022 Set-
Aside Pool Allowance Allocations for Production and Consumption of
Regulated Substances Under the American Innovation and Manufacturing
Act of 2020 [87 FR 19683].

         Table 3--Consumption Allowances for Calendar Year 2023
------------------------------------------------------------------------
                                                           Number of
                                                          consumption
                        Entity                         allowances issued
                                                          (MTEVe) \1\
------------------------------------------------------------------------
Application-specific allowances \2\..................        5,426,319.9
A.C.S. Reclamation & Recovery (Absolute Chiller                200,000.0
 Services) *.........................................
Ability Refrigerants *...............................          200,000.0
ACT Commodities *....................................               77.8
Advance Auto Parts *.................................          190,699.1
Advanced Specialty Gases.............................          285,314.5
AFK & Co. *..........................................          193,335.9
AFS Cooling *........................................          200,000.0
A-Gas................................................        3,209,232.5
Air Liquide USA......................................          498,530.3
AllCool Refrigerant Reclaim *........................          200,000.0
Altair Partners......................................        2,918,730.4
American Air Components *............................          200,000.0
Arkema...............................................       31,075,488.7
Artsen...............................................        1,027,571.2
Automart Distributors DBA Refrigerant Plus *.........          200,000.0
AutoZone Parts.......................................        2,486,664.3
AW Product Sales & Marketing.........................          194,505.7
Bluon................................................           33,459.8
CC Packaging *.......................................          194,000.0
Certified Refrigerant Services *.....................          200,000.0
Chemours.............................................       33,382,686.1
Chemp Technology *...................................          200,000.0
Combs Gas............................................        1,287,918.3
ComStar International................................          374,063.9
Creative Solution *..................................          200,000.0
Cross World Group *..................................          200,000.0
Daikin America.......................................        3,120,932.2
EDX Industry *.......................................          200,000.0
Electronic Fluorocarbons.............................          104,289.0
Fireside Holdings DBA American Refrigerants *........          199,978.5
First Continental International......................          769,838.0
FluoroFusion Specialty Chemicals.....................        2,552,532.6
Freskoa USA *........................................          200,000.0
GlaxoSmithKline......................................          536,367.9
Golden Refrigerant *.................................          200,000.0
Harp USA.............................................          765,574.0
Honeywell International..............................       82,497,424.7
Hudson Technologies..................................        2,988,057.5
Hungry Bear *........................................          200,000.0
ICool USA............................................        3,406,995.9
IGas Holdings........................................       25,944,614.3
Iofina Chemical......................................            1,264.9
Kidde-Fenwal *.......................................          200,000.0
Lenz Sales & Distribution............................        1,110,319.3
Lina Trade *.........................................          200,000.0
Linde................................................          532,503.3
Meraki Group *.......................................          200,000.0
Metalcraft *.........................................          161,000.0
Mexichem Fluor DBA Koura.............................       25,479,884.3

Mondy Global.........................................          318,706.9
National Refrigerants................................       19,806,810.9
Nature Gas Import and Export.........................          819,624.4
North American Refrigerants *........................          200,000.0
O23 Energy Plus *....................................          200,000.0
Perfect Score Too DBA Perfect Cycle*.................           37,876.0
Reclamation Technologies *...........................          200,000.0
Refrigerants, Inc....................................           26,550.9
RMS of Georgia.......................................        1,621,276.8
RTR Suppliers *......................................          198,000.0
Saalok *.............................................          200,000.0
Sciarra Laboratories *...............................            8,700.0
SDS Refrigerant Services *...........................          200,000.0
Showa Chemicals of America...........................           73,466.6
Solvay Fluorides.....................................        1,102,459.2
Summit Refrigerants *................................          200,000.0
SynAgile Corporation *...............................            1,125.1
Technical Chemical...................................          974,140.0
TradeQuim *..........................................          200,000.0
Transocean Offshore Deepwater Drilling...............               16.8
Tulstar Products.....................................          734,110.9
Tyco Fire Products *.................................          200,000.0
USA United Suppliers of America DBA USA Refrigerants           200,000.0
 *...................................................
USSC Acquisition Corp *..............................          131,451.0
Walmart..............................................        2,280,583.0
Waysmos USA..........................................          634,504.6
Weitron..............................................        6,338,344.6
Wesco HMB *..........................................          200,000.0
Wilhelmsen Ships Service.............................           40,392.5
                                                      ------------------
    Total............................................      273,498,315.0
------------------------------------------------------------------------
\1\ Numbers may not sum due to rounding.
\2\ See Table 1.
* These entities were issued consumption allowances consistent with the
  provisions in 40 CFR 84.15(e)(3). Consistent with 40 CFR 84.15(e)(3)
  and as clarified in the Agency's 2021 final rule, these entities were
  issued the same number of allowances for 2023 as they were in 2022. In
  accordance with 40 CFR 84.15(f)(1), allowances allocated to these
  entities may not be transferred.

    On September 30, 2022, EPA also provided notice to four entities of
the Agency's intent to take administrative consequences in accordance
with 40 CFR 84.35. Using this authority, EPA can retire, revoke, or
withhold the allocation of allowances, or ban a company from receiving,
transferring, or conferring allowances.\2\ EPA provided notice of its
intent to retire an identified set of each of the four companies'
allowances, affecting both calendar year 2022 and calendar year 2023
allowances.
---------------------------------------------------------------------------

    \2\ Administrative consequences that the Agency has finalized
can be found here: https://www.epa.gov/climate-hfcs-reduction/administrative-consequences-under-hfc-allocation-rule.
---------------------------------------------------------------------------

Judicial Review

    The AIM Act provides that certain sections of the Clean Air Act
(CAA) ``shall apply to'' the AIM Act and actions ``promulgated by the
Administrator of [EPA] pursuant to [the AIM Act] as though [the AIM
Act] were expressly included in title VI of [the CAA].'' 42 U.S.C.
7675(k)(1)(C). Among the applicable sections of the CAA is section 307,
which includes provisions on judicial review. Section 307(b)(1)
provides, in part, that petitions for review must only be filed in the
United States Court of Appeals for the District of Columbia Circuit:
(i) when the agency action consists of ``nationally applicable
regulations promulgated, or final actions taken, by the
Administrator,'' or (ii) when such action is locally or regionally
applicable, but ``such action is based on a determination of nationwide
scope or effect and if in taking such action the Administrator finds
and publishes that such action is based on such a determination.'' For
locally or regionally applicable final actions, the CAA reserves to the
EPA complete discretion whether to invoke the exception in (ii).
    The final action herein noticed is ``nationally applicable'' within
the meaning of CAA section 307(b)(1). The AIM Act imposes a national
cap on the total number of allowances available for each year for all
entities nationwide. 42 U.S.C. 7675(e)(2)(B)-(D). For 2023, there was a
national pool of 344,299,157 production allowances and 273,498,315
consumption allowances available to distribute. The action noticed
herein distributed that finite set of allowances consistent with the
methodology EPA established in the nationally applicable framework
rule. As such, the allowance allocation is the division and assignment
of a single, nationwide pool of HFC allowances to entities across the
country according to the uniform, national methodology established in
EPA's regulations. Each entity's allowance allocation is a relative
share of that pool; thus, any additional allowances awarded to one
entity directly affects the allocations to others.
    In the alternative, to the extent a court finds the final action to
be locally or regionally applicable, the Administrator is exercising
the complete discretion afforded to him under the CAA to make and
publish a finding that the action is based on a determination of

``nationwide scope or effect'' within the meaning of CAA section
307(b)(1).\3\ In deciding to invoke this exception, the Administrator
has taken into account a number of policy considerations, including his
judgment regarding the benefit of obtaining the D.C. Circuit's
authoritative centralized review, rather than allowing development of
the issue in other contexts, in order to ensure consistency in the
Agency's approach to allocation of allowances in accordance with EPA's
national regulations in 40 CFR part 84. The final action treats all
affected entities consistently in how the Part 84 regulations are
applied. The allowance allocation is the division and assignment of a
single, nationwide pool of HFC allowances to entities across the
country according to the uniform, national methodology established in
EPA's regulations, and each entity's allowance allocation is a relative
share of that pool; thus, any additional allowances awarded to one
entity directly affect the allocations to others. The Administrator
finds that this is a matter on which national uniformity is desirable
to take advantage of the D.C. Circuit's administrative law expertise
and facilitate the orderly development of the basic law under the AIM
Act and EPA's implementing regulations. The Administrator also finds
that consolidated review of the action in the D.C. Circuit will avoid
piecemeal litigation in the regional circuits, further judicial
economy, and eliminate the risk of inconsistent results for different
regulated entities. The Administrator also finds that a nationally
consistent approach to the allocation of allowances constitutes the
best use of agency resources. The Administrator is publishing his
finding that the action is based on a determination of nationwide scope
or effect in the Federal Register as part of this notice in addition to
inclusion on the website announcing allocations.
---------------------------------------------------------------------------

    \3\ In the report on the 1977 Amendments that revised section
307(b)(1) of the CAA, Congress noted that the Administrator's
determination that the ``nationwide scope or effect'' exception
applies would be appropriate for any action that has a scope or
effect beyond a single judicial circuit. See H.R. Rep. No. 95-294 at
323, 324, reprinted in 1977 U.S.C.C.A.N. 1402-03.
---------------------------------------------------------------------------

    For these reasons, the final action of the Agency allocating
hydrofluorocarbon allowances to entities located throughout the country
is nationally applicable or, alternatively, the Administrator is
exercising the complete discretion afforded to him by the CAA and finds
that the final action is based on a determination of nationwide scope
or effect for purposes of CAA section 307(b)(1) and is hereby
publishing that finding in the Federal Register.
    Under section 307(b)(1) of the CAA, petitions for judicial review
of this action must be filed in the United States Court of Appeals for
the District of Columbia Circuit by December 12, 2022.

Hans Christopher Grundler,
Director, Office of Atmospheric Programs.
[FR Doc. 2022-22059 Filed 10-7-22; 8:45 am]
BILLING CODE 6560-50-P