[Federal Register Volume 80, Number 17 (Tuesday, January 27, 2015)]
[Notices]
[Pages 4327-4330]
[FR Doc No: 2015-01376]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74109; File No. SR-NYSE-Arca-2014-134]

Self-Regulatory Organizations; NYSE Arca, Inc.; Order Approving a
Proposed Rule Change To List and Trade Shares of the IQ Wilshire
Alternative Strategies ETF Under NYSE Arca Equities Rule 8.600

January 21, 2015.

I. Introduction

    On November 18, 2014, NYSE Arca, Inc. (the ``Exchange'' or ``NYSE
Arca'') filed with the Securities and Exchange Commission
(``Commission''), pursuant to Section 19(b)(1) \1\ of the Securities
Exchange Act of 1934 (``Act'' or ``Exchange Act'') \2\ and Rule 19b-4
thereunder,\3\ a proposed rule change to list and trade shares
(``Shares'') of the IQ Wilshire Alternative Strategies ETF (the
``Fund'') under NYSE Arca Equities Rule 8.600. The proposed rule change
was published for comment in the Federal Register on December 8,
2014.\4\ The Commission received no comments on the proposed rule
change. This order approves the proposed rule change.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
    \4\ See Securities Exchange Act Release No. 73716 (December 2,
2014), 79 FR 72723 (``Notice'').
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II. Description of the Proposal

    The Exchange proposes to list and trade the Shares under NYSE Arca
Equities Rule 8.600, which governs the listing and trading of Managed
Fund Shares on the Exchange. The Fund is a series of the IndexIQ Active
ETF Trust (the ``Trust'').\5\ The Fund is an actively-managed exchange-
traded fund (``ETF'') and does not seek to replicate the performance of
a specified index.
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    \5\ The Trust is registered under the 1940 Act. On April 25,
2014, the Trust filed with the Commission an amendment to its
registration statement on Form N-1A relating to the Fund (File Nos.
333-193560 and 811-22739) (the ``Registration Statement''). In
addition, the Commission has issued an order granting certain
exemptive relief to the Trust under the 1940 Act. See Investment
Company Act Release No. 30198 (September 10, 2012) (File No. 812-
13956).
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    IndexIQ Advisors LLC (the ``Adviser'') is the investment adviser
for the Fund.\6\ The Exchange states that the Adviser is a not a
registered broker-dealer and is not affiliated with a broker-dealer.\7\
The Exchange represents that in the event (a) any of the Adviser,
Wilshire or the Underlying Managers is or becomes a broker-dealer or
newly affiliated with a broker-dealer, or (b) any new adviser or sub-
adviser is a registered broker-dealer or becomes affiliated with a
broker-dealer, then, to the extent the broker-dealer or affiliated
broker-dealer is not a limited purpose broker-dealer used for marketing
and not trading purposes, it will implement a firewall with respect to
its relevant personnel or its broker-dealer affiliate regarding access
to information concerning the composition and/or changes to a
portfolio, and will be subject to procedures designed to prevent the
use and dissemination of material non-public information regarding such
portfolio.\8\
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    \6\ An investment adviser to an open-end fund is required to be
registered under the Investment Advisers Act of 1940 (the ``Advisers
Act''). The Adviser, Wilshire Associates Incorporated (``Wilshire'')
and the underlying managers that are sub-advisers to the Fund (the
``Underlying Managers'') are each registered as an investment
adviser under the Advisers Act. Wilshire will be a sub-adviser to
the Fund and, in that role, will evaluate and recommend strategies
and Underlying Managers to the Adviser for use by the Fund.
Additionally, according to the Exchange, Wilshire will provide
recommendations to the Adviser for allocating and reallocating Fund
assets among the Underlying Managers. Wilshire will not directly
manage any assets of the Fund, although it may provide the Adviser
or an Underlying Manager with non-discretionary advice on investment
decisions and underlying positions.
    \7\ See Notice, supra note 4, 79 FR at 72729.
    \8\ See Notice, supra note 4, 79 FR at 72724.
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    The Bank of New York Mellon (``Administrator'') is the
administrator, custodian, transfer agent and securities lending agent
for the Fund. ALPS

Distributors Inc. is the distributor for the Fund.
    The Exchange has made the following representations and statements
in describing the Fund and its strategy and characteristics,
investments, and investment restrictions.\9\
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    \9\ The Commission notes that additional information regarding
the IQ Wilshire Alternative Strategies ETF and its shares;
investment objectives; strategies; methodology and restrictions;
risks; fees and expenses; creations and redemptions of Shares;
availability of information; trading rules and halts; and
surveillance procedures, among other things, can be found in the
Registration Statement and in the Notice. See Notice, supra note 4,
and Registration Statement, supra note 5, respectively.
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Fund Strategies and Characteristics

    According to the Exchange, the Fund will seek long-term capital
appreciation. Under normal circumstances,\10\ 100% of the Fund's assets
will be allocated among the Underlying Managers that will employ a
variety of alternative investment strategies.\11\ The Exchange states
that in making these allocations, the Advisor will seek to combine the
strategies of the Underlying Managers efficiently and systematically so
that the Fund will generate a positive total return with relatively low
volatility and low sensitivity or correlation to market indices.\12\
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    \10\ The term ``under normal circumstances'' includes, but is
not limited to, the absence of adverse market, economic, political
or other conditions, including extreme volatility or trading halts
in the fixed income markets or the financial markets generally;
operational issues causing dissemination of inaccurate market
information; or force majeure type events such as systems failure,
natural or man-made disaster, act of God, armed conflict, act of
terrorism, riot or labor disruption or any similar intervening
circumstance.
    \11\ According to the Exchange, the investment of Fund assets
not allocated to the Underlying Managers may be directly managed by
the Advisor, although the Advisor does not currently intend to
manage a significant portion of the Fund's assets directly, and to
the extent the Advisor does manage a portion of the Fund's assets it
would invest such assets in the same manner as the Underlying
Managers.
    \12\ See Notice, supra note 4, 79 FR at 72724.
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    The Exchange states that the Fund and each of its Underlying
Managers may use all or some of the following strategies in managing
the assets of the Fund: equity hedge (long/short) strategies, relative
value strategies, global macro strategies, event driven strategies,
opportunistic credit strategies, tactical trading strategies, and
liquid alternative beta strategies.\13\ The Fund and each of its
Underlying Managers may also add additional strategies in the future.
According to the Exchange, the Advisor may allocate 0 to 100 percent of
the Fund's assets to any of these strategies or any of the Underlying
Managers at any time.
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    \13\ These strategies are discussed in greater detail in the
Notice and the Registration Statement. See Notice, supra note 4, and
Registration Statement, supra note 5, respectively.
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Investments of the Fund

    The Exchange states that in implementing the strategies discussed
above, the Fund will invest in a portfolio consisting of some or all of
the following instruments:
     Exchange-traded equity securities, which will consist of
common stocks, preferred stocks, convertible securities, rights and
warrants, depositary receipts, ETFs, non-ETF exchange-traded vehicles
(``ETVs''), and partnership interests, including master limited
partnerships;
     Fixed income securities, which will consist of debt issued
by corporations,\14\ debt issued by governments, their agencies,
instrumentalities, sponsored entities, and political subdivisions,
covered bonds, debt participations, convertible bonds, non-investment
grade securities, senior bank loans, exchange-traded notes, mortgage-
backed and other asset-backed securities, and to-be-announced
securities;\15\
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    \14\ According to the Exchange, under normal market
circumstances, the Fund generally will seek to invest in corporate
bond issuances in developed countries that have at least
$100,000,000 par amount outstanding and at least $200,000,000 par
amount outstanding with respect to corporate bond issuances in
emerging market countries. See Notice, supra note 4, 79 FR at 72725,
n. 19.
    \15\ The Fund will seek to gain exposure to U.S. agency mortgage
pass-through securities primarily through the use of ``to-be-
announced securities.''
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     Currencies;
     The following derivative instruments: futures contracts
(consisting of futures contracts based on equity or fixed income
securities and/or equity or fixed income indices, commodities, interest
rates and currencies), swap agreements on any of the following asset
classes: equity, fixed income, currency and interest rates (such swaps
may be based on the price return or total return of the referenced
asset), credit default swaps (consisting of credit default swaps in
which the referenced asset is a single fixed income security or a group
of fixed income securities), options (consisting of long and short
positions in call options and put options on indices based on equities,
fixed income securities, interest rates, currencies or commodities,
individual securities or currencies, swaptions and options on futures
contracts), forward contracts (consisting of forward contracts based on
equity or fixed income securities and/or equity or fixed income
indices, currencies, interest rates, swap forwards and non-deliverable
forwards), and structured securities (such derivative instruments,
collectively ``Financial Instruments'').\16\
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    \16\ As a result of the Fund's ability to invest in Financial
Instruments, it may also hold U.S. Treasury Bills or short-term
investments as collateral for the Financial Instruments, including
money market funds, repurchase agreements, cash and time deposits.
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    The Exchange states that the Fund may use leverage (e.g., through
the use of Financial Instruments) to obtain exposure in excess of 100%
in an investment. The Fund may employ leverage to increase exposure to
the Fund's portfolio holdings by up to 100% of the net assets of the
Fund to gain additional exposure to the Fund's portfolio holdings, such
that the Fund will have up to 200% net exposure to its investments.
    According to the Exchange, the Fund may take long and/or short
positions in equity securities, fixed income securities, commodities
\17\ and currencies, among others.
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    \17\ The Fund may gain exposure to commodities through
investments in other investment companies, ETFs or ETVs.
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Investment Restrictions

    All equity securities will be listed on a U.S. national securities
exchange or a non-U.S. securities exchange that is a member of the
Intermarket Surveillance Group (``ISG'') or a party to a comprehensive
surveillance sharing agreement with the Exchange; provided, however,
that up to 10% of the assets of the Fund may be invested in non-U.S.
listed equity securities that do not meet these requirements.\18\
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    \18\ See Notice, supra note 4, 79 FR at 72726.
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    All options contracts will be listed on a U.S. national securities
exchange or a non-U.S. securities exchange that is a member of ISG or a
party to a comprehensive surveillance sharing agreement with the
Exchange.\19\
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    \19\ See id.
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    Not more than 20% of the Fund's assets will be invested, in the
aggregate, in non-investment grade securities and structured
securities.\20\
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    \20\ See id.
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    Up to 10% of the weight of the futures contracts held by the Fund
may consist of futures contracts whose principal trading market is not
a member of ISG or a party to a comprehensive surveillance sharing
agreement with the Exchange.\21\
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    \21\ See id.
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    The Fund may invest up to 20% of its total assets in mortgage-
backed securities or in other asset-backed securities, although this
20% limitation will not apply to U.S. government securities.\22\
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    \22\ See id.

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    The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid assets (calculated at the time of investment),
including Rule 144A securities.\23\ The Fund will monitor its portfolio
liquidity on an ongoing basis to determine whether, in the light of
current circumstances, an adequate level of liquidity is being
maintained, and will consider taking appropriate steps in order to
maintain adequate liquidity if, through a change in values, net assets,
or other circumstances, more than 15% of the Fund's net assets are held
in illiquid assets.
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    \23\ See id.
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    The Fund will not invest more than 10% of its net assets in
unsponsored depositary receipts.\24\
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    \24\ See id.
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III. Discussion and Commission Findings

    After careful review, the Commission finds that the Exchange's
proposal to list and trade the Shares is consistent with the Exchange
Act and the rules and regulations thereunder applicable to a national
securities exchange.\25\ In particular, the Commission finds that the
proposed rule change is consistent with Section 6(b)(5) of the Exchange
Act,\26\ which requires, among other things, that the Exchange's rules
be 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.
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    \25\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \26\ 15 U.S.C. 78f(b)(5).
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    The Commission finds that the proposal to list and trade the Shares
on the Exchange is consistent with Section 11A(a)(1)(C)(iii) of the
Exchange Act,\27\ which sets forth Congress' finding that it is in the
public interest and appropriate for the protection of investors and the
maintenance of fair and orderly markets to assure the availability to
brokers, dealers and investors of information with respect to
quotations for and transactions in securities. Quotation and last-sale
information for the Shares and underlying securities that are listed on
a U.S. exchange will be available via the Consolidated Tape Association
high-speed line. Quotation and last-sale information for such U.S.
exchange-listed securities as well as futures will be available from
the exchange on which they are listed. Quotation and last sale
information for options contracts will be available via the Options
Price Reporting Authority.
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    \27\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
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    Quotation information for OTC-traded securities and OTC-traded
Financial Instruments (such as forwards, swaps and currency-related
derivatives), and investment company securities (excluding ETFs), may
be obtained from brokers and dealers who make markets in such
securities or through nationally recognized pricing services through
subscription agreements. Quotation information from brokers and dealers
or pricing services will be available for spot and forward currency
transactions held by the Fund. Information regarding market price and
trading volume of the Shares will be continually available on a real-
time basis throughout the day on brokers' computer screens and other
electronic services. Information regarding the previous day's closing
price and trading volume information for the Shares will be published
daily in the financial section of newspapers.
    The Commission also believes that the proposal to list and trade
the Shares is reasonably designed to promote fair disclosure of
information that may be necessary to price the Shares appropriately and
to prevent trading when a reasonable degree of transparency cannot be
assured. On each business day, before commencement of trading in Shares
in the Core Trading Session (9:30 a.m. to 4:00 p.m., Eastern Time) on
the Exchange, each Fund will disclose on its Web site the Disclosed
Portfolio that will form the basis for a Fund's calculation of NAV at
the end of the business day.\28\ The Web site information will be
publicly available at no charge. The NAV will be calculated by the
Administrator and determined each business day as of the close of
regular trading on the Exchange (ordinarily 4:00 p.m., Eastern Time).
The Exchange will obtain a representation from the issuer of the Shares
that the NAV per Share will be calculated daily and that the NAV and
the Disclosed Portfolio as defined in NYSE Arca Equities Rule
8.600(c)(2) will be made available to all market participants at the
same time.\29\ The Portfolio Indicative Value of the Fund, as defined
in NYSE Arca Equities Rule 8.600(c)(3), will be widely disseminated by
one or more major market data vendors at least every 15 seconds during
the Core Trading Session.\30\ The Web site for the Fund will include a
form of the prospectus for the Fund and additional data relating to the
Fund's NAV and other applicable quantitative information.\31\
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    \28\ Under accounting procedures followed by the Fund, trades
made on the prior business day (``T'') will be booked and reflected
in NAV on the current business day (``T+1''). Accordingly, each Fund
will be able to disclose at the beginning of the business day the
portfolio that will form the basis for the NAV calculation at the
end of the business day.
    \29\ See Notice, supra note 4, 79 FR at 72728.
    \30\ According to the Exchange, several major market data
vendors display and/or make widely available Portfolio Indicative
Values taken from Consolidated Tape Association or other data feeds.
See Notice, supra note 4, 79 FR at 72728, n. 26.
    \31\ See Notice, supra note 4, 79 FR at 72729.
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    The Exchange represents that trading in Shares of a Fund will be
halted if the circuit breaker parameters in NYSE Arca Equities Rule
7.12 have been reached.\32\ Trading also may be halted because of
market conditions or for reasons that, in the view of the Exchange,
make trading in the Shares inadvisable.\33\ Trading in the Shares will
be subject to NYSE Arca Equities Rule 8.600(d)(2)(D), which sets forth
circumstances under which Shares may be halted.
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    \32\ See Notice, supra note 4, 79 FR at 72728.
    \33\ These may include: (1) The extent to which trading is not
occurring in the securities and/or the financial instruments
comprising the Disclosed Portfolio of a Fund; or (2) whether other
unusual conditions or circumstances detrimental to the maintenance
of a fair and orderly market are present. See Notice, supra note 4,
79 FR at 72728.
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    The Exchange states that it has a general policy prohibiting the
distribution of material, non-public information by its employees.\34\
The Exchange states that the Adviser is a not a registered broker-
dealer and is not affiliated with a broker-dealer. The Exchange
represents that, in the event (a) the Adviser becomes newly affiliated
with a broker-dealer, or (b) any new adviser or sub-adviser is a
registered broker-dealer or becomes affiliated with a broker-dealer, it
will implement a firewall with respect to its relevant personnel or its
broker-dealer affiliate regarding access to information concerning the
composition and/or changes to a portfolio, and will be subject to
procedures designed to prevent the use and dissemination of material
non-public information regarding such portfolio.
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    \34\ See Notice, supra note 4, 79 FR at 72728.
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    The Financial Industry Regulatory Authority (``FINRA''), on behalf
of the Exchange, will communicate as needed regarding trading in the
Shares, equity securities, exchange-traded options, futures contracts
and options on futures contracts with other markets that are members of
the ISG and FINRA, on behalf of the Exchange, may obtain trading
information regarding trading in the Shares, exchange-traded equities,
exchange-traded options, futures contracts and options on futures
contracts from such markets. In

addition, the Exchange may obtain information regarding trading in the
Shares, exchange-traded equities, exchange-traded options, futures
contracts and options on futures contracts from markets and other
entities that are members of ISG or with which the Exchange has in
place a comprehensive surveillance sharing agreement.\35\ FINRA, on
behalf of the Exchange, is able to access, as needed, trade information
for certain fixed income securities held by the Fund reported to
FINRA's Trade Reporting and Compliance Engine.
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    \35\ For a list of the current members of ISG, see
www.isgportal.org.
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    The Commission notes that the Fund and the Shares must comply with
the requirements of NYSE Arca Equities Rule 8.600 to be listed and
traded on the Exchange. The Exchange deems the Shares to be equity
securities, thus rendering trading in the Shares subject to the
Exchange's existing rules governing the trading of equity securities.
In support of this proposal, the Exchange represented that:
    (1) The Shares will be subject to NYSE Arca Equities Rule 8.600,
which sets forth the initial and continued listing criteria applicable
to Managed Fund Shares.
    (2) Trading in the Shares will be subject to the existing trading
surveillances administered by FINRA on behalf of the Exchange, which
are designed to detect violations of Exchange rules and applicable
federal securities laws, and these procedures are adequate to properly
monitor Exchange trading of the Shares in all trading sessions and to
detect and help deter violations of Exchange rules and applicable
federal securities laws.
    (3) The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions.
    (4) Prior to the commencement of trading, the Exchange will inform
its Equity Trading Permit (``ETP'') Holders in an Information Bulletin
(``Bulletin'') of the special characteristics and risks associated with
trading the Shares. Specifically, the Bulletin will discuss the
following: (a) The procedures for purchases and redemptions of Shares
in creation unit aggregations (and that Shares are not individually
redeemable); (b) NYSE Arca Equities Rule 9.2(a), which imposes a duty
of due diligence on its ETP Holders to learn the essential facts
relating to every customer prior to trading the Shares; (c) the risks
involved in trading the Shares during the Opening and Late Trading
Sessions when an updated Portfolio Indicative Value will not be
calculated or publicly disseminated; (d) how information regarding the
Portfolio Indicative Value is disseminated; (e) the requirement that
ETP Holders deliver a prospectus to investors purchasing newly issued
Shares prior to or concurrently with the confirmation of a transaction;
and (f) trading information.
    (5) For initial and/or continued listing, the Trust will be in
compliance with Rule 10A-3 \36\ under the Act, as provided by NYSE Arca
Equities Rule 5.3.
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    \36\ 17 CFR 240.10A-3.
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    (6) All equity securities will be listed on a U.S. national
securities exchange or a non-U.S. securities exchange that is a member
of the ISG or a party to a comprehensive surveillance sharing agreement
with the Exchange; provided, however, that up to 10% of the assets of
the Fund may be invested in non-U.S. listed equity securities that do
not meet these requirements.
    (7) All options contracts will be listed on a U.S. national
securities exchange or a non-U.S. securities exchange that is a member
of ISG or a party to a comprehensive surveillance sharing agreement
with the Exchange.
    (8) Not more than 20% of the Fund's assets will be invested, in the
aggregate, in non-investment grade securities and structured
securities.
    (9) Not more than 10% of the weight of the futures contracts held
by the Fund may consist of futures contracts whose principal trading
market is not a member of ISG or a party to a comprehensive
surveillance sharing agreement with the Exchange.
    (10) The Fund may invest no more than 20% of its total assets in
mortgage-backed securities or in other asset-backed securities,
although this 20% limitation will not apply to U.S. government
securities.
    (11) The Fund may hold up to an aggregate amount of 15% of its net
assets in illiquid securities, including Rule 144A securities.
    (12) The Fund will not invest more than 10% of its net assets in
unsponsored depository receipts will not exceed 10% of a Fund's net
assets
    (13) A minimum of 100,000 Shares will be outstanding at the
commencement of trading on the Exchange.
    This approval order is based on all of the Exchange's
representations, including those set forth above and in the Notice, and
the Exchange's descriptions of the Funds. For the foregoing reasons,
the Commission finds that the proposed rule change is consistent with
Section 6(b)(5) of the Act \37\ and the rules and regulations
thereunder applicable to a national securities exchange.
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    \37\ 15 U.S.C. 78f(b)(5).
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IV. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Exchange Act,\38\ that the proposed rule change (SR-NYSEArca-2014-134)
is hereby approved.\39\
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    \38\ 15 U.S.C. 78s(b)(2).
    \39\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.
Brent J. Fields,
Secretary.
[FR Doc. 2015-01376 Filed 1-26-15; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 80, Number 96 (Tuesday, May 19, 2015)]
[Notices]
[Page 28737]
[FR Doc No: 2015-12183]

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SECURITIES AND EXCHANGE COMMISSION

Sunshine Act Meeting

    Notice is hereby given, pursuant to the provisions of the
Government in the Sunshine Act, Public Law 94-409, that the Securities
and Exchange Commission will hold a Closed Meeting on Thursday, May 21,
2015 at 2:00 p.m.
    Commissioners, Counsel to the Commissioners, the Secretary to the
Commission, and recording secretaries will attend the Closed Meeting.
Certain staff members who have an interest in the matters also may be
present.
    The General Counsel of the Commission, or her designee, has
certified that, in her opinion, one or more of the exemptions set forth
in 5 U.S.C. 552b(c)(3), (5), (7), 9(B) and (10) and 17 CFR
200.402(a)(3), (5), (7), 9(ii) and (10), permit consideration of the
scheduled matter at the Closed Meeting.
    Commissioner Stein, as duty officer, voted to consider the items
listed for the Closed Meeting in closed session.
    The subject matter of the Closed Meeting will be: Institution and
settlement of injunctive actions; Institution and settlement of
administrative proceedings; Adjudicatory matter; and Other matters
relating to enforcement proceedings.
    At times, changes in Commission priorities require alterations in
the scheduling of meeting items.
    For further information and to ascertain what, if any, matters have
been added, deleted or postponed, please contact the Office of the
Secretary at<PHONE_NUMBER>.

    Dated: May 14, 2015.
Brent J. Fields,
Secretary.
[FR Doc. 2015-12183 Filed 5-15-15; 11:15 am]
 BILLING CODE 8011-01-P


[Federal Register: May 19, 2006 (Volume 71, Number 97)]
[Notices]
[Page 29166]
[DOCID:fr19my06-73]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

Agency Information Collection Activities: Submission for OMB
Review; Comment Request

AGENCY: Federal Emergency Management Agency, Department of Homeland
Security.

ACTION: Notice and request for comments.

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SUMMARY: The Federal Emergency Management Agency (FEMA) is submitting a
request for review and approval of a collection of information under
the emergency processing procedures in Office of Management and Budget
(OMB) regulation 5 CFR 1320.13. FEMA is requesting that this
information collection be approved by June 19, 2006. The approval will
authorize FEMA to use the collection for 180 days through December
2006. FEMA plans to follow this emergency request with a request for a
3-year approval. The request will be processed under OMB's normal
clearance procedures in accordance with the provisions of OMB
regulation 5 CFR 1320.10. To help us with the timely processing of the
emergency and normal clearance submissions to OMB, FEMA invites the
general public to comment on the proposed collection of information.

SUPPLEMENTARY INFORMATION: Section 205 of The Bunning-Bereuter-
Blumenauer Flood Insurance Reform Act (FIRA) of 2004 (Pub. L. 108-264)
42 U.S.C. 4011 requires FEMA to establish by regulation an additional
process for the appeal of decisions of flood insurance claims issued
through the NFIP. The appeals process is available after the issuance
of the insurer's final claim determination, which is the insurer's
written denial, in whole or in part, of the insured's claim. An insured
must file an appeal within 60 days after receiving the insurer's final
claim determination. Collection of Information:
    Title: National Flood Insurance Program Appeals Process.
    Type of Information Collection: Existing collection in use without
an OMB control number.
    OMB Number: 1660-NW20.
    Abstract: This information collection implements the mandates of
section 205 of the Flood Insurance Reform Act (FIRA) to establish an
appeal process for NFIP policyholders in cases of unsatisfactory
decisions on SFIP claims, proof of loss, and loss estimates made by any
insurance company, agent, adjuster, or FEMA employee or contractor.
    Affected Public: Individuals and households policyholders.
    Number of Respondents: 2,000.
    Estimated Time per Respondent: 2 hours.
    Estimated Total Annual Burden Hours: 4,000 hours.
    Estimated Cost: Total cost to all respondents combined is estimated
at $55,720.00 with an average cost per respondent of $28.00/appeal.
    Frequency of Response: Once (Per Appeal).
    Comments: Written comments are solicited to (a) evaluate whether
the proposed data collection is necessary for the proper performance of
the agency, including whether the information shall have practical
utility; (b) evaluate the accuracy of the agency's estimate of the
burden of the proposed information collection, including the validity
of the methodology and assumptions used; (c) enhance the quality,
utility, and clarity of the information to be collected; and (d)
minimize the burden of the collection of information on those who are
to respond, including through the use of appropriate automated,
electronic, mechanical, or other technology, e.g., permitting
electronic submission of responses. Submit comments to OMB within 30
days of the date of this notice. To ensure that FEMA is fully aware of
any comments or concerns that you share with OMB, please provide us
with a copy of your comments. FEMA will continue to accept comments
from interested persons through July 18, 2006. Submit comments to the
FEMA address listed in the FOR FURTHER INFORMATION CONTACT caption.
    OMB Address: Interested persons are invited to submit written
comments on the proposed information collection to the Office of
Information and Regulatory Affairs, Attn: OMB Desk Officer for the
Federal Emergency Management Agency, Department of Homeland Security,
(Proposed New Information Collection--1660-NW20), facsimile number
(202) 395-6974.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection should be made to Chief, Records
Management, Information Resources Management Branch, Information
Technology Services Division, Federal Emergency Management Agency, 500
C Street, SW., Room 316, Washington, DC 20472. Facsimile number (202)
646-3347, or at e-mail address<EMAIL_ADDRESS>
    Dated: May 16, 2006.
Darcy Bingham,
Branch Chief, Information Resources Management Branch, Information
Technology Services Division.
[FR Doc. E6-7677 Filed 5-18-06; 8:45 am]

BILLING CODE 9110-11-P


[Federal Register Volume 87, Number 142 (Tuesday, July 26, 2022)]
[Notices]
[Page 44386]
[FR Doc No: 2022-15993]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. ER22-2427-000]

SR Cedar Springs, LLC; Supplemental Notice That Initial Market-
Based Rate Filing Includes Request for Blanket Section 204
Authorization

    This is a supplemental notice in the above-referenced proceeding of
SR Cedar Springs, LLC's application for market-based rate authority,
with an accompanying rate tariff, noting that such application includes
a request for blanket authorization, under 18 CFR part 34, of future
issuances of securities and assumptions of liability.
    Any person desiring to intervene or to protest should file with the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426, in accordance with Rules 211 and 214 of the Commission's
Rules of Practice and Procedure (18 CFR 385.211 and 385.214). Anyone
filing a motion to intervene or protest must serve a copy of that
document on the Applicant.
    Notice is hereby given that the deadline for filing protests with
regard to the applicant's request for blanket authorization, under 18
CFR part 34, of future issuances of securities and assumptions of
liability, is August 9, 2022.
    The Commission encourages electronic submission of protests and
interventions in lieu of paper, using the FERC Online links at http://www.ferc.gov. To facilitate electronic service, persons with internet
access who will eFile a document and/or be listed as a contact for an
intervenor must create and validate an eRegistration account using the
eRegistration link. Select the eFiling link to log on and submit the
intervention or protests.
    Persons unable to file electronically may mail similar pleadings to
the Federal Energy Regulatory Commission, 888 First Street NE,
Washington, DC 20426. Hand delivered submissions in docketed
proceedings should be delivered to Health and Human Services, 12225
Wilkins Avenue, Rockville, Maryland 20852.
    In addition to publishing the full text of this document in the
Federal Register, the Commission provides all interested persons an
opportunity to view and/or print the contents of this document via the
internet through the Commission's Home Page (http://www.ferc.gov) using
the ``eLibrary'' link. Enter the docket number excluding the last three
digits in the docket number field to access the document. At this time,
the Commission has suspended access to the Commission's Public
Reference Room, due to the proclamation declaring a National Emergency
concerning the Novel Coronavirus Disease (COVID-19), issued by the
President on March 13, 2020. For assistance, contact the Federal Energy
Regulatory Commission at [email protected] or call toll-free,
(886) 208-3676 or TYY,<PHONE_NUMBER>.

    Dated: July 20, 2022.
Debbie-Anne A. Reese,
Deputy Secretary.
[FR Doc. 2022-15993 Filed 7-25-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 76, Number 8 (Wednesday, January 12, 2011)]
[Notices]
[Pages 2156-2158]
[FR Doc No: 2011-438]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-63650; File No. SR-NASDAQ-2011-001]

Self-Regulatory Organizations; Notice of Filing and Immediate
Effectiveness of Proposed Rule Change by The NASDAQ Stock Market, LLC
to Establish a $5 Strike Price Program

January 6, 2011.
    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 January 3, 2011, The NASDAQ Stock Market LLC (``NASDAQ'' or
``Exchange'') filed with the Securities and Exchange Commission
(``SEC'' or ``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.
---------------------------------------------------------------------------

    \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 NASDAQ Stock Market LLC proposes to amend Chapter IV,
Securities Traded on NOM, Section 6, Series of Open Contracts Open for
Trading, to allow the Exchange to list

and trade series in intervals of $5 or greater where the strike price
is more than $200 in up to five option classes on individual stocks.
    The text of the proposed rule change is available on the Exchange's
Web site at http://www.nasdaq.cchwallstreet.com, at the principal
office of the Exchange, on the Commission's Web site at http://www.sec.gov, 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. 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 this proposed rule change is to modify Chapter IV,
Section 6(d) to allow the Exchange to list and trade series in
intervals of $5 or greater where the strike price is more than $200 in
up to five option classes on individual stocks (``$5 Strike Price
Program'') to provide investors and traders additional opportunities
and strategies to hedge high priced securities.
    Currently, Chapter IV, Section 6(d)(iii) permits strike price
intervals of $10 or greater where the strike price is greater than
$200.\3\ The Exchange is proposing to add the proposed $5 Strike Price
Program as an exception to the $10 or greater program language in
Chapter IV, Section 6. The proposal would allow the Exchange to list
series in intervals of $5 or greater where the strike price is more
than $200 in up to five option classes on individual stocks. The
Exchange specifically proposes to create a new section (d)(v) to
Chapter IV, Section 6 which would state, ``Nasdaq may list series in
intervals of $5 or greater where the strike price is more than $200 in
up to five (5) option classes on individual stocks.''
---------------------------------------------------------------------------

    \3\ Chapter IV, Section 6(d) also permits strike price intervals
of $5 or greater where the strike price is greater than $25.00; and
$2.50 or greater where the strike price is $25.00 or less.
---------------------------------------------------------------------------

    The Exchange believes the $5 Strike Price Program would offer
investors a greater selection of strike prices at a lower cost. For
example, if an investor wanted to purchase an option with an expiration
of approximately one month, a $5 strike interval could offer a wider
choice of strike prices, which may result in reduced outlays in order
to purchase the option. By way of illustration, using Google, Inc.
(``GOOG'') as an example, if GOOG would trade at $610 \4\ with
approximately one month remaining until expiration, the front month
(one month remaining) at-the-money call option (the 610 strike) would
trade at approximately $17.50 and the next highest available strike
(the 620 strike) would trade at approximately $13.00. By offering a 615
strike an investor would be able to trade a GOOG front month call
option at approximately $15.25, thus providing an additional choice at
a different price point.
---------------------------------------------------------------------------

    \4\ The prices listed in this example are assumptions and not
based on actual prices. The assumptions are made for illustrative
purposes only using the stock price as a hypothetical.
---------------------------------------------------------------------------

    Similarly, if an investor wanted to hedge exposure to an underlying
stock position by selling call options, the investor may choose an
option term with two months remaining until expiration. An additional
$5 strike interval could offer additional and varying yields to the
investor. For example if Apple, Inc. (``AAPL'') would trade at $310 \5\
with approximately two months remaining until expiration, the second
month (two months remaining) at-the-money call option (the 310 strike)
would trade at approximately $14.50 and the next highest available
strike (the 320) strike would trade at $9.90. The 310 strike would
yield a return of 4.67% and the 320 strike would yield a return of
3.20%. If the 315 strike were available, that series would be priced at
approximately $12.20 (a yield of 3.93%) and would minimize the risk of
having the underlying stock called away at expiration.
---------------------------------------------------------------------------

    \5\ The prices listed in this example are assumptions and not
based on actual prices. The assumptions are made for illustrative
purposes only using the stock price as a hypothetical.
---------------------------------------------------------------------------

    With regard to the impact of this proposal on system capacity, the
Exchange has analyzed its capacity and represents that it and the
Options Price Reporting Authority have the necessary systems capacity
to handle the potential additional traffic associated with the listing
and trading of classes on individual stocks $5 Strike Price Program.
    The proposed $5 Strike Price Program would provide investors
increased opportunities to improve returns and manage risk in the
trading of equity options that overlie high priced stocks. In addition,
the proposed $5 Strike Price Program would allow investors to establish
equity options positions that are better tailored to meet their
investment, trading and risk management requirements.
2. Statutory Basis
    The Exchange believes that its proposal is consistent with Section
6(b) of the Act \6\ in general, and furthers the objectives of Section
6(b)(5) of the Act \7\ 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.
The Exchange believes the $5 Strike Price Program proposal would
provide the investing public and other market participants increased
opportunities because a $5 series in high priced stocks would provide
market participants additional opportunities to hedge high priced
securities. This would allow investors to better manage their risk
exposure. Moreover, the Exchange believes the proposed $5 Strike Price
Program would benefit investors by giving them more flexibility to
closely tailor their investment decisions in a greater number of
securities.
---------------------------------------------------------------------------

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

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.

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

    No written comments were solicited or received.

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

    Because the foregoing proposed rule change does not significantly
affect the protection of investors or the public interest, does not
impose any significant burden on competition, and, by its terms, does
not become operative for 30 days from the date on which it was filed,
or such shorter time as the Commission may designate, it has become
effective pursuant to Section

19(b)(3)(A) of the Act \8\ and Rule 19b-4(f)(6) thereunder.\9\
---------------------------------------------------------------------------

    \8\ 15 U.S.C. 78s(b)(3)(A).
    \9\ 17 CFR 240.19b-4(f)(6). In addition, Rule 19b-4(f)(6)(iii)
requires the Exchange to give the Commission written notice of the
Exchange's intent to file the proposed rule change, along with a
brief description and text of the proposed rule change, at least
five business days prior to the date of filing of the proposed rule
change, or such shorter time as designated by the Commission. The
Exchange has satisfied this requirement.
---------------------------------------------------------------------------

    The Exchange has requested that the Commission waive the 30-day
operative delay. The Commission believes that waiver of the operative
delay is consistent with the protection of investors and the public
interest because the proposal is substantially similar to that of
another exchange that has been approved by the Commission.\10\
Therefore, the Commission designates the proposal operative upon
filing.\11\
---------------------------------------------------------------------------

    \10\ See Securities Exchange Act Release No. 63654 (January 6,
2011) (SR-Phlx-2010-158) (order approving establishment of a $5
Strike Price Program).
    \11\ For purposes only of waiving the 30-day operative delay,
the Commission has considered the proposed rule's impact on
efficiency, competition, and capital formation. See 15 U.S.C.
78c(f).
---------------------------------------------------------------------------

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

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an e-mail to<EMAIL_ADDRESS>Please include
File Number SR-NASDAQ-2011-001 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR- NASDAQ-2011-001. This
file number should be included on the subject line if e-mail 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 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. 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-
NASDAQ-2011-001 and should be submitted on or before February 2, 2011.
---------------------------------------------------------------------------

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

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\12\
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-438 Filed 1-11-11; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 76, Number 109 (Tuesday, June 7, 2011)]
[Notices]
[Pages 32984-32985]
[FR Doc No: 2011-14014]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-1975-DR; Docket ID FEMA-2011-0001]

Arkansas; Major Disaster and Related Determinations

AGENCY: Federal Emergency Management Agency, DHS.

ACTION: Notice.

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SUMMARY: This is a notice of the Presidential declaration of a major
disaster for the State of Arkansas (FEMA-1975-DR), dated May 2, 2011,
and related determinations.

DATES: Effective Date: May 2, 2011.

FOR FURTHER INFORMATION CONTACT: Peggy Miller, Office of Response and
Recovery, Federal Emergency Management Agency, 500 C Street, SW.,
Washington, DC 20472,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: Notice is hereby given that, in a letter
dated May 2, 2011, the President issued a major disaster declaration
under the authority of the Robert T. Stafford Disaster Relief and
Emergency Assistance Act, 42 U.S.C. 5121 et seq. (the ``Stafford
Act''), as follows:

    I have determined that the damage in certain areas of the State
of Arkansas resulting from severe storms, tornadoes, and associated
flooding beginning on April 23, 2011, and continuing, is of
sufficient severity and magnitude to warrant a major disaster
declaration under the Robert T. Stafford Disaster Relief and
Emergency Assistance Act, 42 U.S.C. 5121 et seq. (the ``Stafford
Act''). Therefore, I declare that such a major disaster exists in
the State of Arkansas.
    In order to provide Federal assistance, you are hereby
authorized to allocate from funds available for these purposes such
amounts as you find necessary for Federal disaster assistance and
administrative expenses.
    You are authorized to provide Individual Assistance and
assistance for emergency protective measures (Category B), limited
to direct Federal assistance, under the Public Assistance program in
the designated areas, and Hazard Mitigation throughout the State.
Consistent with the requirement that Federal assistance is
supplemental, any Federal funds provided under the Stafford Act for
Public Assistance, Hazard Mitigation, and Other Needs Assistance
will be limited to 75 percent of the total eligible costs.
    Further, you are authorized to make changes to this declaration
for the approved assistance to the extent allowable under the
Stafford Act.

    The time period prescribed for the implementation of section
310(a), Priority to Certain Applications for Public Facility and Public
Housing Assistance, 42 U.S.C. 5153, shall be for

a period not to exceed six months after the date of this declaration.
    The Federal Emergency Management Agency (FEMA) hereby gives notice
that pursuant to the authority vested in the Administrator, under
Executive Order 12148, as amended, Nancy M. Casper of FEMA is appointed
to act as the Federal Coordinating Officer for this major disaster.
    The following areas of the State of Arkansas have been designated
as adversely affected by this major disaster:

    The counties of Benton, Clay, Faulkner, Garland, Lincoln,
Pulaski, Randolph, and Saline for Individual Assistance.
    The counties of Benton, Clay, Faulkner, Garland, Lincoln,
Pulaski, Randolph, and Saline for emergency protective measures
(Category B), limited to direct Federal assistance, under the Public
Assistance program.
    All counties within the State of Arkansas are eligible to apply
for assistance under the Hazard Mitigation Grant Program.

The following Catalog of Federal Domestic Assistance Numbers (CFDA)
are to be used for reporting and drawing funds: 97.030, Community
Disaster Loans; 97.031, Cora Brown Fund; 97.032, Crisis Counseling;
97.033, Disaster Legal Services; 97.034, Disaster Unemployment
Assistance (DUA); 97.046, Fire Management Assistance Grant; 97.048,
Disaster Housing Assistance to Individuals and Households in
Presidentially Declared Disaster Areas; 97.049, Presidentially
Declared Disaster Assistance--Disaster Housing Operations for
Individuals and Households; 97.050, Presidentially Declared Disaster
Assistance to Individuals and Households--Other Needs; 97.036,
Disaster Grants--Public Assistance (Presidentially Declared
Disasters); 97.039, Hazard Mitigation Grant.

    Dated: June 1, 2011.
W. Craig Fugate,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2011-14014 Filed 6-6-11; 8:45 am]
BILLING CODE 9111-23-P


[Federal Register Volume 81, Number 190 (Friday, September 30, 2016)]
[Notices]
[Pages 67346-67347]
[FR Doc No: 2016-23678]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP16-456-000]

Southern Star Central Gas Pipeline, Inc.; Notice of Schedule for
Environmental Review of the Shidler Line Abandonment Project

    On May 6, 2016, Southern Star Central Gas Pipeline, Inc. (Southern
Star) filed an application in Docket No. CP16-456-000 requesting
authorization pursuant to Section 7(b) of the Natural Gas Act to
abandon certain natural gas pipeline facilities. The proposed project
is known as the Shidler Line Abandonment Project (Project), and would
abandon about 31.2 miles of 16-inch-diameter natural gas pipeline and
remove certain pipeline and aboveground facilities in Osage County,
Oklahoma.
    On May 19, 2016, the Federal Energy Regulatory Commission
(Commission or FERC) issued its Notice of Application for the Project.
Among other things, that notice alerted agencies issuing federal
authorizations of the requirement to complete all necessary reviews and
to reach a final decision on a request for a federal authorization
within 90 days of the date of issuance of the Commission staff's
Environmental Assessment (EA) for the Project. This instant notice
identifies the FERC staff's planned schedule for the completion of the
EA for the Project.

Schedule for Environmental Review

Issuance of EA--October 28, 2016
90-day Federal Authorization Decision Deadline--January 26, 2017

    If a schedule change becomes necessary, an additional notice will
be provided so that the relevant agencies are kept informed of the
Project's progress.

Project Description

    Southern Star proposes to abandon about 31.2 miles of 16-inch-
diameter pipeline and appurtenant facilities of the Shidler Line (also
referred to as ``Line ME'' or the ``Blackwell--Cotton Valley Line''),
in Osage County, Oklahoma. The abandonment will require cutting and
capping of the pipeline just east of the Shidler Town Border and
slightly west of the Bowring Meter Station. The pipeline would be cut,
capped, and abandoned in place by filling the pipe with grout at two
improved road crossings. All associated aboveground facilities would be
removed, including two mainline valve settings, three domestic taps,
four rectifiers, 14 cathodic protection test stations, and the pipeline
markers. The remainder of pipeline facilities would be abandoned in
place.

Background

    On June 9, 2016, the Commission issued a Notice of Intent to
Prepare an Environmental Assessment for the Proposed Shidler Line
Abandonment Project and Request for Comments on Environmental Issues
(NOI). The NOI was sent to affected landowners; federal, state, and
local government agencies; elected officials; environmental and public
interest groups; Native American tribes; other interested parties; and
local libraries and newspapers. In response to the NOI, the Commission
received comment letters from the Oklahoma Archeological Survey, the
Oklahoma Natural Heritage Inventory, the Oklahoma Department of
Wildlife Conservation, and the Osage Nation. The letters provided
occurrence records

for listed species, and requested cultural resources surveys and tribal
consultations.

Additional Information

    In order to receive notification of the issuance of the EA and to
keep track of all formal issuances and submittals in specific dockets,
the Commission offers a free service called eSubscription. This can
reduce the amount of time you spend researching proceedings by
automatically providing you with notification of these filings,
document summaries, and direct links to the documents. Go to
www.ferc.gov/docs-filing/esubscription.asp.
    Additional information about the Project is available from the
Commission's Office of External Affairs at (866) 208-FERC or on the
FERC Web site (www.ferc.gov). Using the ``eLibrary'' link, select
``General Search'' from the eLibrary menu, enter the selected date
range and ``Docket Number'' excluding the last three digits (i.e.,
CP16-456), and follow the instructions. For assistance with access to
eLibrary, the helpline can be reached at<PHONE_NUMBER>, TTY (202) 502-
8659, or by email at<EMAIL_ADDRESS>The eLibrary link on
the FERC Web site also provides access to the texts of formal documents
issued by the Commission, such as orders, notices, and rule makings.

    Dated: September 26, 2016.
Kimberly D. Bose,
Secretary.
[FR Doc. 2016-23678 Filed 9-29-16; 8:45 am]
BILLING CODE 6717-01-P


Revised 4/ 21/ 03 1 OFFROAD Modeling Change Technical Memo SUBJECT: Addition of Evaporative Emissions for Small Off Road Engines LEAD: Walter Wong Summary The OFFROAD model is used to estimate the contributions of emissions of various equipment types to the overall off road emissions inventory. With the exception of gas cans, the OFFROAD model does not currently account for evaporative hydrocarbons. This is primarily due to the lack of test data.

In support of pending regulation, however, Air Resources Board ( ARB or Board) staff has performed a number of evaporative tests of small off road equipment. In addition, a research project performed by the Automotive Testing Laboratories ( ATL) for the ARB entitled " Collection of Evaporative Emissions Data from Off Road Equipment", has recently been completed. It is the information from these projects that serve as the basis for the proposed modification to the off road emissions inventory.

This change is estimated to result in an increase in the off road evaporative emissions inventory of 31.2 tons per day of reactive organic gases ( ROG), statewide in 2010. By the year 2020, the evaporative emissions inventory is estimated to increase to 34.3 tons per day, statewide.

Regulations for the control of evaporative emission from the SORE category are estimated to result in a 31 percent reduction in ROG from this category, statewide in 2010 and a 64 percent reduction by the year 2020.

Background Small off road engines ( SORE) are less than 25 horsepower and are used in equipment that falls into several of the OFFROAD categories. Small off road engines are used in handheld ( HH) and non handheld ( NHH), preempted ( P) and non preempted ( NP) equipment in the following categories: Light Commercial, Agricultural, Logging, Airport Ground Support and Transport Refrigeration Units. However, the majority is used in the Lawn and Garden Equipment category. A full listing of SORE equipment can be found in Appendix A. Table 1 ( below) rank orders the top ten SORE equipment types according to the percentage of the overall SORE population. Revised 4/ 21/ 03 2 Table 1. Top Ten SORE Equipment Types by Population ( 2000)

Equipment Category Population % of SORE Lawn Mowers Lawn & Garden 2,513,937 44.7 Trimmers/ Edgers/ Brush Cutters Lawn & Garden 8,631,88 15.4 Chainsaws Lawn & Garden 601,336 10.7 Leaf Blowers/ Vacuums Lawn & Garden 408,593 7.3 Tillers Lawn & Garden 281,444 5.0 Generator Sets Light Commercial 258,639 4.6 Snow blowers Lawn & Garden 97,662 1.7 Front Mowers Lawn & Garden 85,476 1.5 Wood Splitters Lawn & Garden 72,789 1.3 Pumps Light Commercial 59,681 1.1 The exhaust emissions inventory for small off road engines was last presented and approved by the Board in 1998. Several characteristics of the SORE inventory presented at that time, including equipment population and activity, are common to both the exhaust and evaporative emission inventories.

Methodology The evaporative emissions inventory is segregated into four distinct processes:

1. Diurnal emissions occur when rising ambient temperatures cause fuel evaporation from engines and gas tanks throughout the day.

2. Hot soaks are evaporative losses that occur immediately after the engine is turned off. The cause of evaporation is the heat of the engine.

3. Running losses are evaporative emissions that occur while the equipment is being operated.

4. Resting loses, like diurnal emissions, occur while the equipment is not being used. Unlike diurnal events, the ambient temperature is either stable or declining during a resting loss event. These losses are mainly due to the permeation of hydrocarbon molecules through plastic and rubber equipment components.

The basic equations for estimating the evaporative emissions are displayed below:

Diurnal/ Resting ( tpd) = Population * Emission Rate * Temp/ RVP Correction Hot Soak ( tpd) = Population * Percent Usage * Emission Rate * RVP Correction Running Loss ( tpd) = Population * Percent Usage * Activity * Emission Rate * RVP Correction Revised 4/ 21/ 03 3 Where tpd is Tons per day, Population is equipment and age specific, Emission Rate is expressed in grams per hour for running loss, grams per event for hot soaks, and grams per day for diurnal and resting losses, Percent Usage is the percent of the equipment population in use in a given period, Activity is equipment usage in hours per day, RVP is the Reid Vapor Pressure of the fuel and the Temp/ RVP Correction is a multiplicative correction factor to adjust the basic emission rate with respect to standardized test conditions.

Population and Activity The population and activity estimates used in this analysis were obtained from the Booz Allen Hamilton ( BAH) report entitled " Off Road Mobile Equipment Emission Inventory Estimate", the Power System Research ( PSR) database of manufacturer's factory production and surveys, and input provided by small offroad equipment manufacturers and their consultants.

The population growth rates were obtained from the California State University, Fullerton ( CSUF) study entitled " A Study to Develop Projected Activity for Non Road Mobile Categories in California, 1970 2020". In this study, growth in the equipment population is linked to number of households.

The estimates of population and activity used in this analysis are the same as those presented to, and approved by the Board in 1998. A more detailed discussion of the development of these estimates can be found in ARB Mail out # 98 04 ( http:// www. arb. ca. gov/ msei/ off road/ pubs. htm).

Emission Rates Evaporative emissions are quantified by placing the equipment within a sealed enclosure ( a shed) and measuring the concentration of hydrocarbons emitted over a predetermined period of time.

The baseline testing for diurnal and resting loss emissions was performed using California Phase 2 gasoline with an RVP of 7.0, over a 24 hour period using an episodic summertime temperature profile. This temperature excursion from a low of 65oF to a high of 105oF, is the same as that used to certify on road motor vehicles.

Hot Soak emissions were measured after operating each piece of equipment for 15 minutes after which the equipment was placed in a shed at a constant temperature of 95oF. The resulting evaporative emissions were monitored minute by minute for three hours. Revised 4/ 21/ 03 4 In order to measure running loss emissions, the equipment must be operated ( according to the specific equipment type) within the shed enclosure. Exhaust emissions must be routed outside of the shed in order to ensure that only evaporative hydrocarbons are measured.

Table 2 lists the number of pieces of equipment tested by the ARB and their contractors.

Table 2. Equipment Tested for Baseline Emissions Equipment Type Diurnal Resting Loss Hot Soak Running Loss Lawnmower 23 23 23 4 Trimmer/ Edger 8 8 8 1 Leaf blower 3 3 3 0 Chainsaw 3 3 3 0 Tractor 4 4 3 0 Tiller 1 1 1 0 Generator 4 4 3 2 ATV * 4 4 4 2 Forklift * 2 2 2 2 * Although all terrain vehicles ( ATVs) and forklifts are not included in the SORE category, these data were used as surrogates for some SORE equipment types that were not tested.

Because lawnmowers dominate the SORE category, lawnmowers were tested more often than any other equipment type. For simplicity, the discussion of the evaporative emissions inventory development will focus primarily on lawnmowers.

Basic Emission Rates Diurnal and Resting Losses The Basic Emission Rate ( BER) consists of two parts: a zero hour and a deterioration rate. The zero hour emission rate is the emissions of the equipment when it is brand new. The deterioration rate is the rate at which emissions increase due to usage and is modeled as a function of the age of the equipment.

Table 3 segregates the lawnmower test fleet into three strata by age, namely " new", " used" and " old" equipment. New lawnmowers were those purchased by ARB or their contractors that had not been previously operated in customer service. These test results were averaged to estimate the zero hour emission rate of lawnmowers. Revised 4/ 21/ 03 5 The used lawnmowers were randomly obtained from customer service and are assumed to be representative of the in use lawnmower fleet. The test results of these mowers were averaged to establish a deterioration factor. Finally, the emission rates of the old lawnmowers were averaged to estimate the emission of lawnmowers at the end of their lives.

Table 3. Evaporative Emissions Test Results ID Manufacturer Year Strata Diurnal ( g/ day) Resting ( g/ day) Total ( g/ day) Mower1 Lawn Boy 01 New 1.32 0.74 2.06 Mower2 Craftsman 01 New 1.40 0.79 2.19 Mower3 Craftsman 01 New 1.44 0.81 2.25 Mower4 Yard Machine 01 New 1.46 0.82 2.28 Mower5 Yard Machine 01 New 1.57 0.88 2.45 Mower6 Yard Machine 01 New 1.57 0.88 2.45 Mower7 Honda 01 New 1.60 0.90 2.50 Mower8 Honda 00 New 2.03 1.14 3.17 Mower9 Scott's 01 New 2.27 1.27 3.54 Mower10 Toro 99 New 3.55 2.00 5.55 Mower11 Murray 01 New 5.61 3.16 8.77 Mower12 Briggs & Stratton 01 New 1.82 1.03 2.85 Mower13 Briggs & Stratton 01 New 1.65 0.93 2.58 Mower14 Tecumseh 01 New 2.08 1.17 3.25 Mower15 Tecumseh 01 New 2.26 1.27 3.53 Mower16 Honda 01 New 1.62 0.91 2.53 Mower17 Honda 01 New 1.60 0.90 2.50 Mower18 Toro 90 Used 1.47 0.83 2.30 Mower19 Sears 94 Used 2.27 1.27 3.54 Mower20 Builders Best 73 Old 2.52 1.42 3.94 Mower21 Murray ? Used 2.64 1.48 4.12 Mower22 Murray 99 Used 4.52 2.54 7.06 Mower23 Toro 89 Old 15.35 8.64 23.99 "?" The Model Year of equipment could not be determined Useful Life is defined as the age at which fifty percent of the originally sold equipment population still exists. For lawnmowers, this is assumed to be seven years, however, some equipment is assumed to remain in use for as long as twice the defined useful life.

Therefore, the test data was used to establish three emission points in the life of the lawnmower fleet; " new" for year zero, " used" for the useful life definition of seven years, and " old" for the end of equipment life which for lawnmowers is fourteen years. Linear deterioration was assumed between each point ( See Table 4). Revised 4/ 21/ 03 6 Table 4. Estimated Lawnmower Emission Rates Age Diurnal ( g/ day) Resting Loss ( g/ day) 0 2.05 1.15 7 2.72 1.53 14 8.94 5.03 Figure 1 graphically displays the proposed lawnmower emission and deterioration rates for diurnal and resting losses.

Figure 1. Lawnmower Diurnal/ Resting Loss Deterioration 0.000 2.000 4.000 6.000 8.000 10.000 0 5 10 15 Age, years ( g/ day) Baseline Diurnal ( g/ day) Baseline Resting Loss ( g/ day)

Liquid Leakers The emissions estimates at fourteen years are the averages of two lawnmowers ( mowers 20 and 23), one of which, mower 23, was found to have a liquid fuel leak. Because the deterioration rates beyond year seven are highly influenced by the emissions of this liquid leaker, staff surveyed a number of lawnmower repair shops and requested manufacturer's input to determine how often these types of problems occur.

Although it was confirmed that lawnmowers with fuel leaks are not uncommon, it was not possible to determine the incidence with accuracy. Staff found no compelling reason to exclude mower 23 from this analysis. However, by using this data at the end of equipment life, the impact is minimized because the majority of mowers ( 91%) are assumed to be age seven or newer at any given time. Only 0.1% of mowers are assumed to reach the age of fourteen ( See Figure 2). Revised 4/ 21/ 03 7 Figure 2. Lawnmower Population Distribution by Age 0.0% 5.0% 10.0% 15.0%

0 5 10 15 Age, years % of Fleet Basic Emission Rates for Other Equipment Types The emission factors for chainsaws, tractors and ATVs were estimated in the same manner described above for lawnmowers given that a clear pattern of deterioration between new and used equipment could be discerned.

In cases where deterioration could not be discerned because of the lack of data or high variability in test results, straight averages of the emission rates were used across all years. Table 5 lists the estimated zero hour ( ZHR), useful life ( UL), and end of life ( END), diurnal and resting loss evaporative emission rates for all tested equipment types.

Table 5. Basic Evaporative Emission Rates ( grams/ day)

Equipment Type Diurnal Resting Loss ZHR UL END ZHR UL END Chainsaw 0.44 0.49 0.54 0.21 0.23 0.25 Lawnmower 2.05 2.72 8.94 1.15 1.53 5.03 Tractor 5.93 8.33 10.73 3.33 4.69 6.05 ATV 8.14 10.3 12.51 2.43 3.06 3.68 Trimmer/ Edger 0.63 0.63 0.63 0.30 0.30 0.30 Leaf blower 1.07 1.07 1.07 0.51 0.51 0.51 Tiller 2.89 2.89 2.89 1.24 1.24 1.24 Generator/ Welder 12.04 12.04 12.04 2.29 2.29 2.29 Forklift 30.61 30.61 30.61 5.40 5.40 5.40 Revised 4/ 21/ 03 8 Hot Soak and Running Losses Table 6 ( below) displays the hot soak and running loss evaporative emissions results for the fleet of tested lawnmowers. The same methodology used in establishing the basic emission rates for diurnal and resting losses was used to derive the hot soak estimates. Again, where data permitted, both a zero hour and deterioration rate were established, otherwise a straight average of all data by equipment type was used ( See Table 7).

Table 6. Hot Soak and Running Loss Test Data ID Manufacturer Year Strata Hot Soak ( g/ event) Running ( g/ hr) Mower1 Lawn Boy 01 New 0.41 Mower2 Craftsman 01 New 0.58 Mower3 Craftsman 01 New 0.55 Mower4 Yard Machine 01 New 0.41 Mower5 Yard Machine 01 New 0.61 Mower6 Yard Machine 01 New 0.63 Mower7 Honda 01 New 0.48 Mower8 Honda 00 New 0.89 0.81 Mower9 Scott's 01 New 0.58 2.60 Mower10 Toro 99 New 0.72 Mower11 Murray 01 New 2.18 Mower12 Briggs & Stratton 01 New 0.52 Mower13 Briggs & Stratton 01 New 0.67 Mower14 Tecumseh 01 New 0.70 Mower15 Tecumseh 01 New 0.75 Mower16 Honda 01 New 0.47 Mower17 Honda 01 New 0.39 Mower18 Toro 90 Used 1.56 Mower19 Sears 94 Used 1.06 27.03 Mower20 Builders Best 73 Old 0.87 Mower21 Murray ? Used 0.70 Mower22 Murray 99 Used 1.00 Mower23 Toro 89 Old 2.88 12.10 "?" The Model Year of equipment could not be determined Table 7. Hot Soak and Running Loss Basic Emission Rates Equipment Type Hot Soak Running Loss New Used Old New Used Old Chainsaw 0.12 0.34 0.56 Lawnmower 0.68 1.08 1.88 1.7 15.0 28.2 Tractor 1.23 2.09 2.95 ATV 2.40 3.60 4.80 11.3 11.3 11.3 Trimmer/ Edger 0.29 0.29 0.29 0.58 0.58 0.58 Leaf blower 0.15 0.15 0.15 Tiller 0.57 0.57 0.57 Generator/ Welder 3.24 3.24 3.24 1.80 19.5 37.1 Forklift 10.5 10.5 10.5 4.61 4.61 4.61 Revised 4/ 21/ 03 9 The difficulty associated with measuring running losses resulted in few pieces of equipment being tested. Separate running loss rates were established for lawnmowers, ATVs, trimmers, generators, and forklifts. No deterioration rates were estimated for running losses with the exception of lawnmowers and generators.

For lawnmowers, two emission rates were created. A new engine rate was established by averaging the test results of mowers 8 and 9. A used rate was established by averaging the test results of mowers 19 and 23. The used rate represents the average emissions of a nine year old mower, the average age of mowers 19 and 23.

Because the SORE category includes more equipment types than those tested, staff used the test results ( including ATVs and forklifts) in order to estimate the emissions for other equipment in the SORE category. The emission rate assignment was based upon engine size, equipment characteristics, and usage. The mapping strategy is included in Appendix B.

In ARB's research project, two forklifts, a 1995 Komatsu and a 1987 Toyota were tested. The initial test of the Toyota revealed an extremely high running loss emission rate of 195 grams per hour. This rate can be directly compared to the Komatsu that had an emission rate of 2 grams per hour.

The problem with the Toyota's engine was diagnosed and repaired and upon retest, the emissions were reduced to 7 grams per hour. Staff chose to use the lower emission rate in establishing the emission factor for forklifts given that this result seemed to better typify the emissions of these engines.

RVP/ Temperature Correction Factors In order to account for spatial, temporal, and seasonal variations in ambient temperature and dispensed fuel properties, correction factors for RVP and temperature needed to be developed. To determine the magnitude of the effects of these parameters, a subset of the SORE equipment was tested using different temperature profiles and fuels ( See Table 8).

Table 8. Temperature / RVP Test Results Summertime ( 65 105F) 7.0 RVP Summertime ( 65 105F) 9.5 RVP Average ( 50 90F) 9.5 RVP Wintertime ( 48 69F) 7.0 RVP Equipment Diurnal ( Grams per Day) Mower 3 1.44 0.41 Mower 8 2.03 2.66 1.50 Resting Loss ( Grams per Day) Mower 3 0.81 0.43 Mower 8 1.14 1.37 1.13 Revised 4/ 21/ 03 10 In analyzing this data for temperature effects, the measured emissions given a specific fuel formulation were evaluated each hour in terms of the change in emissions as a function of the change in temperature. For RVP, the emission results over a set diurnal temperature profile were compared across fuel types.

Each hour's emissions were normalized dividing by the emissions obtained under standard conditions ( 7 RVP, 65oF to 105oF) to obtain the percent change. Finally, a general linear model was used to find the variables that best fit the data. The resulting statistical analysis indicated that a multi variable polynomial equation was best for both a diurnal and resting loss correction factor ( See below).

Diurnal/ Resting Loss Temperature/ RVP Correction Factor = ( A) hr + ( B) RVP + ( C) Temp + ( D) dtemp + ( E) temp* dtemp + ( F) temp* hr + ( G) temp* rvp + ( H) dtemp* hr + ( I) dtemp* rvp + intercept Where: hr is the duration of the soak in hours RVP is the Reid Vapor Pressure of the fuel temp is the starting temperature dtemp is the change in temperature Table 9 shows the Temperature/ RVP correction factors that result from the use of the statewide annual average, summer and winter temperature profiles from the EMFAC on road emissions inventory model.

Table 9. Temperature/ RVP Correction Factors Profile Diurnal Resting Loss Summer Average 0.55 0.80 Winter Average 0.30 0.74 Annual Average 0.45 0.78 Estimated Baseline Inventory for Lawnmowers Using the basic emission rates and correction factors described above, the baseline inventory for lawnmower was calculated. The results are shown in Table 10 below.

Table 10. Statewide Lawnmower Evaporative Emissions Inventory ( Tons per Day   Annual Average)

Year Pop Hot soak Diurnal Resting Running Total 1999 2472640 1.19 3.21 3.13 3.10 10.63 2010 2789569 1.38 3.74 3.65 3.61 12.38 2020 3263809 1.57 4.24 4.13 4.09 14.03 Revised 4/ 21/ 03 11 Proposed Regulatory Action The Board will soon consider taking action to control evaporative emissions from equipment in the SORE category. This regulation, if adopted, would require compliance either in terms of a percent reduction from uncontrolled emission levels or with a set gram per day diurnal + resting loss standard throughout the useful life of the equipment ( See Table 11).

Table 11. Proposed Diurnal + Resting Loss Evaporative Standards Equipment Type Reduction Standard Implementation Handheld 30% 2005 Non Handheld Class I ( 65 225cc) 1.0 grams/ day 2006 Lawnmower 2007 Other Non Handheld Class II (> 225cc) 2.0 grams/ day 2008 In estimating the potential benefits of such a standard for lawnmowers, staff adjusted the basic evaporative emission rates in the following manner:

1. Assuming compliance with a 1.0 gram standard in use ( for example), the seven year, or " used", emission rates for diurnal and resting loss were lowered, proportionately, until the resulting sum was equal to 1.0 gram.

2. Manufacturers routinely allow for deterioration in emissions during the useful life of the equipment. This " compliance margin" is designed to assure that the standards are not exceeded in use. Assuming a compliance margin of twenty percent, the zero hour emission rate was set at 0.8 gram per day of diurnal + resting loss.

3. Assuming that beyond the useful life of the equipment, deterioration in the fleet will be equivalent to that in the uncontrolled fleet, the baseline assumption of deterioration was used to establish the " old" or end of life emission rate. Linear deterioration was assumed between emission rate.

4. Although not specified directly, based on testing of prototype equipment, a 70% reduction in hot soak emissions and a 50% reduction in running losses are anticipated for equipment complying with the proposed standards. These reductions were applied to the basic emission rates in order to estimate the benefits of control. Revised 4/ 21/ 03 12 A comparison of baseline emission rates for lawnmowers and those modeled to comply with a 1.0 gram per day standard are displayed in Figure 3 below for diurnal + resting loss. For other pieces of equipment required to meet the 1.0 or 2.0 gram per day standard, a revised zero hour and deterioration rate was calculated using the same methodology as outlined for lawnmowers.

Figure 3. Lawnmower Diurnal + Resting Loss 0.000 5.000 10.000 15.000 0 5 10 15 Age, years ( g/ day) Baseline Controlled Using the revised emission rates as described above, an alternative inventory can be calculated and compared to the baseline to estimate the benefits of the proposed regulation. This analysis is displayed for various equipment types in Tables 12 and 13 for calendar years 2010 and 2020, for various areas of the state in Table 14 and for the overall inventory in Table 15.

Table 12. Baseline and Controlled Evaporative Inventory Estimates ( Tons per Day   Annual Average in 2010)

Scenario Pop Hot soak Diurnal Resting Running Total Baseline Lawnmower 2879569 1.38 3.74 3.65 3.61 12.38 Chainsaw 688119 0.09 0.16 0.13 0.13 0.51 Trimmer 988730 0.16 0.31 0.26 0.10 0.83 Controlled Lawnmower 0.90 2.28 2.22 2.70 8.10 Chainsaw 0.07 0.14 0.11 0.09 0.41 Trimmer 0.12 0.26 0.22 0.08 0.68 Percent Reduction Lawnmower 35% 39% 39% 25% 35% Chainsaw 22% 13% 15% 31% 20% Trimmer 25% 16% 15% 20% 18% Revised 4/ 21/ 03 13 Table 13. Baseline and Controlled Evaporative Inventory Estimates ( Tons per Day   Annual Average in 2020)

Scenario Pop Hot soak Diurnal Resting Running Total Baseline Lawnmower 3263808 1.57 4.24 4.13 4.09 14.03 Chainsaw 779318 0.11 0.18 0.15 0.14 0.58 Trimmer 1120663 0.18 0.35 0.29 0.12 0.94 Controlled Lawnmower 0.47 1.29 1.26 2.05 5.07 Chainsaw 0.05 0.13 0.10 0.07 0.35 Trimmer 0.09 0.25 0.20 0.06 0.60 Percent Reduction Lawnmower 70% 70% 69% 50% 64% Chainsaw 55% 28% 33% 50% 40% Trimmer 50% 29% 31% 50% 36%

Table 14. Baseline and Controlled Evaporative Emissions for Various areas of the State ( Annual Average  Tons per Day)

Year 2000 Year 2010 Area Baseline Baseline Controlled % Diff Santa Barbara Co 0.30 0.34 0.23 32% South Coast AB 11.72 13.25 9.02 32% San Francisco AB 4.97 5.62 3.84 32% San Joaquin AB 2.38 2.69 1.84 32% Sacramento AB 1.99 2.25 1.54 32%

Table 15. Baseline and Controlled Evaporative Inventory Estimates ( Tons per Day   Annual Average)

Scenario Pop Hot soak Diurnal Resting Running Total Year 1999 Baseline 5529142 5.26 8.83 5.50 7.52 27.11 Year 2010 Baseline 6417962 6.02 10.72 7.18 8.66 32.58 Controlled 3.94 7.16 4.85 6.50 22.45 Reduction 2.08 3.56 2.33 2.16 10.13 % Reduction 35% 33% 32% 25% 31% Year 2020 Baseline 7209465 6.51 11.71 7.98 9.51 35.71 Controlled 2.02 3.12 2.65 4.76 12.55 Reduction 4.49 8.59 5.33 4.75 23.16 % Reduction 69% 73% 67% 50% 65% Revised 4/ 21/ 03 14 Modeling Change The test results for equipment types other than lawnmowers are displayed in Table 16.

Table 16. Evaporative Emission Test Results for Other Equipment ID Manufacturer Year Strata Diurnal ( g/ day) Resting ( g/ day) Hot Soak ( g/ event) Running ( g/ hour) Chainsaw1 Husqvarna 2001 New 0.24 0.11 0.10 Chainsaw2 Echo 2001 New 0.64 0.30 0.15 Chainsaw3 McCulloch 1989 Used 0.54 0.25 0.56 Leafblower1 Shindaiwa 2001 New 1.21 0.57 0.11 Leafblower2 Stihl 2001 New 1.16 0.55 0.22 Leafblower3 Echo 2001 New 0.85 0.40 0.11 Tiller Maxim Used 2.89 1.24 0.57 Tractor1 Murray 2001 New 3.81 2.14 1.25 Tractor2 Snapper 2001 New 4.57 2.57 1.22 Tractor3 Toro Used 8.33 4.69 2.09 Tractor4 Toro 2001 New 9.40 5.29 N/ A Trimmer1 Power Trim 2001 New 0.92 0.43 1.20 Trimmer2 Echo 2001 New 0.46 0.22 0.07 Trimmer3 Honda 2001 New 0.49 0.23 0.07 Trimmer4 Echo 2001 New 0.62 0.29 0.08 Trimmer4 Ryobi Used 0.55 0.26 0.13 Trimmer5 Stihl 1999 New 0.73 0.35 0.17 Trimmer5 McCulloch Used 0.36 0.17 0.40 Trimmer6 Makita 1999 Used 0.92 0.43 0.23 0.58 Generator1 Honda 1995 Used 6.79 1.29 4.64 19.45 Generator2 Coleman 2001 New 12.63 2.41 2.72 1.80 Generator3 Tsurumi Used 6.21 1.18 2.36 Generator4 Coleman Used 22.54 4.29 N/ A ATV1 Honda 1983 Used 13.13 3.85 2.24 ATV2 Yamaha 2001 New 12.21 3.58 2.64 21.35 ATV3 Suzuki 2001 New 4.14 1.22 2.16 1.25 ATV4 Kawasaki 1988 Used 11.90 3.50 4.96 Forklift1 Komatsu 1995 Used 40.19 7.90 13.54 1.83 Forklift2 Toyota 1987 Used 21.03 3.71 7.43 7.39 * * This engine was originally tested at 195.4 g/ hour. However, the engine was malfunctioning and was repaired. The retest result was used in the analysis. Revised 4/ 21/ 03 15 The model will be modified to accept evaporative emission rates for all four processes for each gasoline powered equipment type. The emission rates will take the form of a zero hour rate, and one or more deterioration rates as a function of equipment age.

In equation form, the baseline emission factors are:

Emission Rate = [ ZHR+ DR1* Age] where Age<= Useful Life Emission Rate = [ ZHR + DR1* UL+ DR2*( Age UL)] where Age > Useful Life ZHR = Zero Hour Rate or Intercept DRx = Deterioration Rate ( 1 or 2) Age = Age of the Equipment in years ( Calendar Year   Model Year) UL = Useful Life ( years)

Table 17. Basic Emission Rates for Diurnal and Resting Loss ( grams/ day) Diurnal Resting Loss Equipment Type ZHR DR1 DR2 ZHR DR1 DR2 Useful Life Chainsaw 0.44 0.010 0.010 0.21 0.004 0.004 5 Lawnmower 2.05 0.096 0.889 1.15 0.054 0.500 7 Tractor 5.93 0.343 0.343 3.33 0.194 0.194 7 ATV 8.14 0.360 0.360 2.43 0.105 0.105 6 Trimmer/ Edger 0.63 0.000 0.000 0.30 0.000 0.000 5 Leaf blower 1.07 0.000 0.000 0.51 0.000 0.000 5 Tiller 2.89 0.000 0.000 1.24 0.000 0.000 7 Generator/ Welder 12.04 0.000 0.000 2.29 0.000 0.000 12 Forklift 30.61 0.000 0.000 5.40 0.000 0.000 7 Table 18. Basic Emission Rates for Hot Soak and Running Loss Hot Soak ( g/ event) Running Loss ( g/ hr) Equipment Type ZHR DR1 DR2 ZHR DR1 DR2 Chainsaw 0.12 0.044 0.044 0.58 0.000 0.000 Lawnmower 0.65 0.071 0.071 1.71 1.894 1.894 Tractor 1.23 0.123 0.123 1.71 1.894 1.894 ATV 2.40 0.200 0.200 11.3 0.000 0.000 Trimmer/ Edger 0.29 0.000 0.000 0.58 0.000 0.000 Leaf blower 0.15 0.000 0.000 0.58 0.000 0.000 Tiller 0.57 0.000 0.000 1.71 1.894 1.894 Generator/ Welder 3.24 0.000 0.000 1.80 1.470 1.470 Forklift 10.5 0.000 0.000 4.61 0.000 0.000 For running losses, lawnmower emission rates will be used as a surrogate for tractors and tillers. The emissions of trimmers will be used as a surrogate for chainsaws and leaf blowers. Revised 4/ 21/ 03 16 Evaporative emissions will be calculated each hour in order to account for the percentage of equipment that is either in use or idle, and the change in ambient temperature. Regional and seasonal variations will be reflected through changes in activity and the use of Temperature/ RVP correction factors.

The Temperature/ RVP correction factor equation is:

Diurnal/ Resting Loss Temperature/ RVP Correction Factor = ( A) hr + ( B) RVP + ( C) Temp + ( D) dtemp + ( E) temp* dtemp + ( F) temp* hr + ( G) temp* rvp + ( H) dtemp* hr + ( I) dtemp* rvp + intercept Temperature/ RVP correction factor coefficients for both diurnal and resting losses are shown below.

Diurnal Resting Loss Variable Coefficients Coefficients A  0.0832099 0.032988944 B  0.007304156 0.041684179 C  8.10117E 05 0.005296275 D  0.025853192 0.06209003 E 0.000175569  0.000459595 F 0.001980283 0.000596396 G 1.47497E 05  0.000500966 H 0.001471629 0.000804361 I 0.001715214  0.002281295 intercept 0.05201313  0.40806693 Because no tests were performed beyond 105oF, 105oF will be used for all ambient temperatures in excess of 105oF. At the lower extremes of the temperature range, the equation may produce a negative estimate of emissions. In this instance, zero emissions will be assumed.

During engine operation and immediately after, the heat of the engine is the dominant factor with respect to vapor generation. Therefore, running loss and hot soak emission will be corrected only for variation in RVP.

Test of the same equipment using different fuel formulations was used to determine the affect of RVP. The results were normalized to standard conditions ( 7.0 RVP) to derive a dimensionless multiplier to the basic emission rates. Because insufficient information exists to derive a separate RVP correction factor for running losses, the hot soak factor will be applied.

RVP correction factor equation for hot soak and running losses = 0.30 ( RVP)   1.1 The population by equipment type and the usage estimates remain unchanged. Revised 4/ 21/ 03 17 Appendix A SORE EQUIPMENT BY CATEGORY Lawn and Garden Equipment 1. Trimmers / Edgers / Brush Cutters 2. Lawn Mowers 3. Leaf Blowers 4. Rear Engine Riding Mowers 5. Front Mowers 6. Chainsaws < 5 HP 7. Shredders < 5 HP 8. Tillers < 5 HP 9. Lawn and Garden Tractors 10. Wood Splitters 11. Snow Blowers 12. Chippers / Stump Grinders 13. Commercial Turf Equipment 14. Other Lawn and Garden Equipment Light Commercial Equipment 1. Generator Sets 2. Pumps 3. Air Compressors 4. Welding Machines 5. Pressure Washers Agricultural Equipment 1. 2 Wheel Tractors 2. Agricultural Tractors 3. Agricultural Mowers 4. Combines 5. Sprayers 6. Balers 7. Tillers > 5 HP 8. Swathers 9. Hydro Power Units 10. Other Agricultural Equipment Logging Equipment 1. Chain Saws > 5 HP 2. Shredders > 5 HP 3. Log Skidders 4. Fellers/ Bunchers Revised 4/ 21/ 03 18 Appendix A SORE EQUIPMENT BY CATEGORY ( contiuned)

Airport Ground Support Equipment 1. Airplane Tow Tractors 2. Baggage/ Cargo Tow Tractors 3. Ground Power Units 4. Start Units 5. Deicing Units 6. Load Lifting and Handling 7. Service Utility Carts 8. Pressure Washers Transport Refrigeration Units 1. Small Units < 25 HP 2. Large Units > 25 HP Revised 4/ 21/ 03 19 APPENDIX B Equipment Surrogate Asphalt Pavers Forklift Tampers/ Rammers Forklift Plate Compactors Forklift Rollers Forklift Paving Equipment Forklift Surfacing Equipment Forklift Signal Boards Forklift Trenchers Forklift Bore/ Drill Rigs Forklift Concrete/ Industrial Saws Forklift Cement and Mortar Mixers Forklift Crushing/ Process Equipment Forklift Skid Steer Loaders Forklift Dumpers/ Tenders Forklift Aerial Lifts Forklift Forklifts Forklift Sweepers/ Scrubbers Forklift Other General Industrial Equipment Forklift Lawn Mowers Lawnmower Tillers Tiller Chainsaws <= 5 HP Chainsaw Trimmers/ Edgers/ Brush Cutters Trimmer Leaf Blowers/ Vacuums Leaf blower Snow blowers Leaf blower Rear Engine Riding Mowers Tractor Front Mowers Tractor Shredders <= 5 HP Chainsaw Lawn & Garden Tractors Tractor Wood Splitters Lawnmower Chippers/ Stump Grinders Lawnmower Commercial Turf Equipment Tractor Other Lawn & Garden Equipment Lawnmower 2 Wheel Tractors ATV Agricultural Mowers ATV Sprayers ATV Tillers > 5 HP ATV Hydro Power Units Generator Other Agricultural Equipment ATV Generator Sets Generator Pumps Generator Air Compressors Generator Welders Generator Pressure Washers Generator Chainsaws > 5 HP Chainsaw Shredders > 5 HP Chainsaw Cart Forklift Lavatory Cart Forklift Transport Refrigeration Units Generator