[Federal Register: March 28, 2008 (Volume 73, Number 61)]
[Rules and Regulations]
[Page 16559-16562]
[DOCID:fr28mr08-10]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 180

[EPA-HQ-OPP-2008-0092; FRL-8357-4]

S-Abscisic Acid, Temporary Exemption From the Requirement of a
Tolerance

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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SUMMARY: This regulation establishes a temporary exemption from the
requirement of a tolerance for residues of the biochemical pesticide S-
Abscisic Acid, (S)-5-(1-hydroxy-2,6,6-trimethyl-4-oxo-1-cyclohex-2-
enyl)-3-methyl-penta-(2Z,4E)-dienoic Acid in or on grapes when applied
or used as a plant regulator in accordance with the terms of
Experimental Use Permit 73049-EUP-4. Valent Biosciences Corporation
submitted a petition to EPA under the Federal Food, Drug, and Cosmetic
Act (FFDCA), as amended by the Food Quality Protection Act of 1996
(FQPA), requesting the temporary tolerance exemption. This regulation
eliminates the need to establish a maximum permissible level for
residues of S-Abscisic Acid, (S)-5-(1-hydroxy-2,6,6-trimethyl-4-oxo-1-
cyclohex-2-enyl)-3-methyl-penta-(2Z,4E)-dienoic Acid. The temporary
tolerance exemption expires on October 1, 2010.

DATES: This regulation is effective March 28, 2008. Objections and
requests for hearings must be received on or before May 27, 2008, and
must be filed in accordance with the instructions provided in 40 CFR
part 178 (see also Unit I.C. of the SUPPLEMENTARY INFORMATION).

ADDRESSES: EPA has established a docket for this action under docket
identification (ID) number EPA-HQ-OPP-2008-0092. To access the
electronic docket, go to http://www.regulations.gov, select ``Advanced
Search,'' then ``Docket Search.'' Insert the docket ID number where
indicated and select the ``Submit'' button. Follow the instructions on
the regulations.gov website to view the docket index or access
available documents. All documents in the docket are listed in the
docket index available in regulations.gov. Although listed in the
index, some information is not publicly available, e.g., Confidential
Business Information (CBI) or other information whose disclosure is
restricted by statute. Certain other material, such as copyrighted
material, is not placed on the Internet and will be publicly available
only in hard copy form. Publicly available docket materials are
available in the electronic docket at http://www.regulations.gov, or,
if only available in hard copy, at the OPP Regulatory Public Docket in
Rm. S-4400, One Potomac Yard (South Bldg.), 2777 S. Crystal Dr.,
Arlington, VA. The Docket Facility is open from 8:30 a.m. to 4 p.m.,
Monday through Friday, excluding legal holidays. The Docket Facility
telephone number is<PHONE_NUMBER>.

FOR FURTHER INFORMATION CONTACT: Chris Pfeifer, Biopesticides and
Pollution Prevention Division (7511P), Office of Pesticide Programs,
Environmental Protection Agency, 1200 Pennsylvania Ave., NW.,
Washington, DC 20460-0001; telephone number:<PHONE_NUMBER>; e-mail
address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

I. General Information

A. Does this Action Apply to Me?

    You may be potentially affected by this action if you are an
agricultural producer, food manufacturer, or pesticide manufacturer.
Potentially affected entities may include, but are not limited to:

     Crop production (NAICS code 111).
     Animal production (NAICS code 112).
     Food manufacturing (NAICS code 311).
     Pesticide manufacturing (NAICS code 32532).
    This listing is not intended to be exhaustive, but rather provides
a guide for readers regarding entities likely to be affected by this
action. Other types of entities not listed in this unit could also be
affected. The North American Industrial Classification System (NAICS)
codes have been provided to assist you and others in determining
whether this action might apply to certain entities. To determine
whether you or your business may be affected by this action, you should
carefully examine the applicability provisions in section 5 of Federal
Insecticide, Fungicide, and Rodenticide Act (FIFRA) and the regulations
promulgated to carry out that provision of FIFRA (40 CFR part 172). If
you have any questions regarding the applicability of this action to a
particular entity, consult the person listed under FOR FURTHER
INFORMATION CONTACT.

B. How Can I Access Electronic Copies of this Document?

    In addition to accessing an electronic copy of this Federal
Register document through the electronic docket at http://
www.regulations.gov, you may access this ``Federal Register'' document
electronically through the EPA Internet under the ``Federal Register''
listings at http://www.epa.gov/fedrgstr. You may also access a
frequently updated electronic version of 40 CFR part 180 through the
Government Printing Office's pilot e-CFR site at http://
www.gpoaccess.gov/ecfr.

C. Can I File an Objection or Hearing Request?

    Under section 408(g) of FFDCA, as amended by FQPA, any person may
file an objection to any aspect of this regulation and may also request
a hearing on those objections. The EPA procedural regulations which
govern the submission of objections and requests for hearings appear in
40 CFR part 178. You must file your objection or request a hearing on
this regulation in accordance with the instructions provided in 40 CFR
part 178. To ensure proper receipt by EPA, you must identify docket ID
number EPA-HQ-OPP-2008-0092 in the subject line on the first page of
your submission. All requests must be in writing, and must be mailed or
delivered to the Hearing Clerk on or before May 27, 2008.
    In addition to filing an objection or hearing request with the
Hearing Clerk as described in 40 CFR part 178, please submit a copy of
the filing that does not contain any CBI for inclusion in the public
docket that is described in ADDRESSES. Information not marked
confidential pursuant to 40 CFR part 2 may be disclosed publicly by EPA
without prior notice. Submit your copies, identified by docket ID
number EPA-HQ-OPP-2008-0092, by one of the following methods.
     Federal eRulemaking Portal: http://www.regulations.gov.
Follow the on-line instructions for submitting comments.
     Mail: Office of Pesticide Programs (OPP) Regulatory Public
Docket (7502P), Environmental Protection Agency, 1200 Pennsylvania
Ave., NW., Washington, DC 20460-0001.
     Delivery: OPP Regulatory Public Docket (7502P),
Environmental Protection Agency, Rm. S-4400, One Potomac Yard (South
Bldg.), 2777 S. Crystal Dr., Arlington, VA. Deliveries are only
accepted during the Docket's normal hours of operation (8:30 a.m. to 4
p.m., Monday through Friday, excluding legal holidays). Special
arrangements should be made for deliveries of boxed information. The
Docket Facility telephone number is<PHONE_NUMBER>.

II. Background and Statutory Findings

    In the Federal Register of April 30, 2007 (72 FR 21263) (FRL-8124-
7), EPA issued a notice pursuant to section 408(d)(3) of FFDCA, 21
U.S.C. 346a(d)(3), announcing the filing of a pesticide tolerance
petition (PP 7G7202) by Valent Biosciences Corporation, 870 Technology
Way, Libertyville, IL 60048. The petition requested that 40 CFR part
180 be amended by establishing a temporary exemption from the
requirement of a tolerance for residues of S-Abscisic Acid, (S)-5-(1-
hydroxy-2,6,6-trimethyl-4-oxo-1-cyclohex-2-enyl)-3-methyl-penta-
(2Z,4E)-dienoic Acid in or on grapes when used in accordance with the
terms set forth in Experimental Use Permit 73049-EUP-4. Valent has
requested an Experimental Use Permit (EUP)--EPA Experimental Use Permit
Number 73049-EUP-4, under which it seeks to apply ABA to grapes in the
vineyard to enhance color production of the grape berries. The terms of
73049-EUP-4 provide for a maximum rate of 8.8185 oz. per acre for a
maximum annual application of 10.681 oz. per acre. This notice included
a summary of the petition prepared by the petitioner, Valent
BioSciences Corporation. There were no comments received in response to
the notice of filing.
    Section 408(c)(2)(A)(i) of FFDCA allows EPA to establish an
exemption from the requirement for a tolerance (the legal limit for a
pesticide chemical residue in or on a food) only if EPA determines that
the exemption is ``safe.'' Section 408(c)(2)(A)(ii) of FFDCA defines
``safe '' to mean that ``there is a reasonable certainty that no harm
will result from aggregate exposure to the pesticide chemical residue,
including all anticipated dietary exposures and all other exposures for
which there is reliable information.'' This includes exposure through
drinking water and in residential settings, but does not include
occupational exposure. Pursuant to section 408(c)(2)(B) of FFDCA, in
establishing or maintaining in effect an exemption from the requirement
of a tolerance, EPA must take into account the factors set forth in
section 408(b)(2)(C) of FFDCA, which require EPA to give special
consideration to exposure of infants and children to the pesticide
chemical residue in establishing a tolerance and to ``ensure that there
is a reasonable certainty that no harm will result to infants and
children from aggregate exposure to the pesticide chemical
residue....'' Additionally, section 408(b)(2)(D) of FFDCA requires that
the Agency consider ``available information concerning the cumulative
effects of a particular pesticide's residues'' and ``other substances
that have a common mechanism of toxicity.''
    EPA performs a number of analyses to determine the risks from
aggregate exposure to pesticide residues. First, EPA determines the
toxicity of pesticides. Second, EPA examines exposure to the pesticide
through food, drinking water, and through other exposures that occur as
a result of pesticide use in residential settings.

III. Toxicological Profile

    Consistent with section 408(b)(2)(D) of FFDCA, EPA has reviewed the
available scientific data and other relevant information in support of
this action and considered its validity, completeness and reliability
and the relationship of this information to human risk. EPA has also
considered available information concerning the variability of the
sensitivities of major identifiable subgroups of consumers, including
infants and children.
    Acute toxicity for S-Abscisic Acid, (S)-5-(1-hydroxy-2,6,6-
trimethyl-4-oxo-1-cyclohex-2-enyl)-3-methyl-penta-(2Z,4E)-dienoic Acid
(commonly abbreviated as ABA): Acute oral toxicity, acute dermal
toxicity, acute inhalation toxicity, and acute dermal irritation are
all Toxicity Category IV;

acute eye irritation is Toxicity Category III; ABA is not a dermal
sensitizer.
    The LD50 for acute oral toxicity using the rat was
greater than 5,000 milligrams/kilogram (mg/kg) of body weight in female
rats. The LD50 for acute dermal toxicity using the rat was
greater than 5,000 mg/kg body weight in male and female rats. The
LC50 for acute inhalation toxicity was greater than 2.06
milligram/liter (mg/L) in male and female rats. Primary eye irritation,
tested in rabbits, showed mild irritation to the eye. Iritis and
conjunctivitis cleared after 24 hours. Primary skin irritation, tested
in the rabbit, showed this material to be slightly irritating. This
irritation cleared within 24 hours after treatment. ABA was tested for
Sensitization in the Guinea Pig and found not to be a skin sensitizer.
    1. Genotoxicity. Three mutagenicity studies determined that ABA was
not mutagenic. (The three studies: an Ames test, a mouse micronucleus
assay, and an unscheduled DNA synthesis assay in the rat.)
    2. Developmental toxicity and subchronic toxicity. The Agency
accepted the applicant's request to waive the data requirements for
teratogenicity and 90-day feeding for the active ingredient based on
the rationales, data and public information submitted. The Agency
granted a waiver for teratogenicity on the basis of limited exposure
for females because of directed applications, a lack of residues, and
the pre-existing ubiquity of ABA in our diet without issue. Ninety day
feeding was waived based on the limited application, virtual non-
toxicity of oral exposure to ABA, and the commonality of ABA in our
diets in excess of what would be present on treated grapes. Waiver
requests for 90-day feeding emphasized the lack of potential oral
exposure, and the relative non-toxicity of ABA through this route of
exposure. In short, developmental toxicity and subchronic toxicity are
not considered to be of concern.

IV. Aggregate Exposures

    In examining aggregate exposure, section 408 of FFDCA directs EPA
to consider available information concerning exposures from the
pesticide residue in food and all other non-occupational exposures,
including drinking water from ground water or surface water and
exposure through pesticide use in gardens, lawns, or buildings
(residential and other indoor uses).

A. Dietary Exposure

    ABA is a plant regulator present in all vascular plants, algae and
some fungi. It is naturally present in fruits and vegetables at various
levels, generally not in excess of 10 ppm, and has always been a
component of any diet containing plant materials. The proposed uses of
this product are not expected to result in residues in or on grapes,
above the natural background levels typically found in other commonly
consumed fruits or vegetables.
    1. Food. Residues of ABA applied to grapes can be expected to
rapidly dissipate to levels consistent with those observed naturally.
Data submitted by the registrant confirm ABA's dissipation through
rapid metabolism, photo-isomerization, and rapid degradation. Because
of its ability to dissipate rapidly, ABA, when used in accordance with
the terms of the EUP 73049-EUP-4, is not expected to result in residues
in or on grapes, above the natural background levels typically found in
other commonly consumed fruits or vegetables. As mentioned above, it is
noted that ABA is already commonly consumed. It is naturally present in
fruits and vegetables at various levels (up to 10 ppm) and has always
been a component of any diet containing plant materials.
    2. Drinking water exposure. Pursuant to the terms of the EUP 73049-
EUP-4, applications are expected to be made to grape vineyards using a
maximum application rate of 200 ppm per acre (using a maximum of 200
gallons). Due to the low concentration and volume of application
solution, leaching into groundwater is unlikely. Applications are
directed to the grape fruit clusters; therefore, accidental application
to lakes or steams is unlikely. However, even if ABA leached into
groundwater, data show that ABA is rapidly metabolized and photo-
isomerized, further diminishing the likelihood of any extra-normal ABA
residues being transferred to water. Data submitted to the Agency show
ABA is also naturally present in water. The Agency therefore concludes
that any residues resulting from the application of ABA to grapes are
not expected to result in any significant drinking water exposure
beyond natural background levels of ABA already present in water.

B. Other Non-Occupational Exposure

    Potential non-occupational exposure is considered unlikely for this
distinctly agricultural use.
    1. Dermal exposure. Non-occupational dermal exposures to ABA when
used as a pesticide are expected to be negligible because it is limited
to an agricultural use.
    2. Inhalation exposure. Non-occupational inhalation exposures to
ABA when used as a pesticide are expected to be negligible because it
is limited to an agricultural use.

V. Cumulative Effects

    Section 408(b)(2)(D)(v) of FFDCA requires the Agency, when
considering whether to establish, modify, or revoke a tolerance, to
consider ``available information'' concerning the cumulative effects of
pesticide residues and ``other substances that have a common mechanism
of toxicity.'' These considerations include the cumulative effects of
such residues on infants and children. Because there is no indication
of mammalian toxicity from ABA, the Agency concludes that ABA cannot
share a common mechanism of toxicity with other substances. Therefore,
section 408(b)(2)(D)(v) does not apply.

VI. Determination of Safety for U.S. Population, Infants and Children

    1. U.S. population. The Agency has determined that there is a
reasonable certainty that no harm will result from aggregate exposure
to residues of ABA to the U.S. population. This includes all
anticipated dietary exposures and other non- occupational exposures for
which there is reliable information. The Agency arrived at this
conclusion based on the relatively low levels of mammalian dietary
toxicity associated with ABA, the natural ubiquity of ABA in our food
stuffs, and data indicating that the pesticidal use of ABA on grapes
results in residues that approximate natural background levels. For
these reasons, the Agency has determined that ABA residues on grapes
will be safe, i.e., there is a reasonable certainty that no harm will
result from aggregate exposure to residues of ABA when used in
accordance with the terms of EUP 73049-EUP-4.
    2. Infants and children. FFDCA section 408 provides that EPA shall
apply an additional tenfold margin of exposure (safety) for infants and
children in the case of threshold effects to account for prenatal and
postnatal toxicity and the completeness of the database unless the EPA
determines that a different margin of exposure (safety) will be safe
for infants and children. Based on all the reliable available
information the Agency reviewed on ABA, the Agency concludes that there
are no residual uncertainties for prenatal/postnatal toxicity resulting
from ABA and that ABA has relatively low toxicity to mammals from a
dietary standpoint, including infants and children. Accordingly, there
are no threshold effects of concern and an

additional margin of safety is not necessary to protect infants and
children.

VII. Other Considerations

A. Endocrine Disruptors

    Based on available data, no endocrine system-related effects have
been identified with the consumption of S-Abscisic Acid, (S)-5-(1-
hydroxy-2,6,6-trimethyl-4-oxo-1-cyclohex-2-enyl)-3-methyl-penta-
(2Z,4E)-dienoic Acid.

B. Analytical Method(s)

    Through this action, the Agency proposes a temporary exemption from
the requirement of a tolerance of ABA when used on grapes without any
numerical limitations for residues. It has determined that residues
resulting from the pesticidal uses of S-Abscisic Acid, (S)-5-(1-
hydroxy-2,6,6-trimethyl-4-oxo-1-cyclohex-2-enyl)-3-methyl-penta-
(2Z,4E)-dienoic Acid, would be so low as to be indistinguishable from
natural background levels. As a result, the Agency has concluded that
an analytical method is not required for enforcement purposes for this
proposed use of ABA.

C. Codex Maximum Residue Level

    There are no codex maximum residue levels established for residues
of S-Abscisic Acid, (S)-5-(1-hydroxy-2,6,6-trimethyl-4-oxo-1-cyclohex-
2-enyl)-3-methyl-penta-(2Z,4E)-dienoic Acid.

VIII. Statutory and Executive Order Reviews

    This final rule establishes a tolerance under section 408(d) of
FFDCA in response to a petition submitted to the Agency. The Office of
Management and Budget (OMB) has exempted these types of actions from
review under Executive Order 12866, entitled Regulatory Planning and
Review (58 FR 51735, October 4, 1993). Because this rule has been
exempted from review under Executive Order 12866, this rule is not
subject to Executive Order 13211, Actions Concerning Regulations That
Significantly Affect Energy Supply, Distribution, or Use (66 FR 28355,
May 22, 2001) or Executive Order 13045, entitled Protection of Children
from Environmental Health Risks and Safety Risks (62 FR 19885, April
23, 1997). This final rule does not contain any information collections
subject to OMB approval under the Paperwork Reduction Act (PRA), 44
U.S.C. 3501 et seq., nor does it require any special considerations
under Executive Order 12898, entitled Federal Actions to Address
Environmental Justice in Minority Populations and Low-Income
Populations (59 FR 7629, February 16, 1994).
    Since tolerances and exemptions that are established on the basis
of a petition under section 408(d) of FFDCA, such as the tolerance in
this final rule, do not require the issuance of a proposed rule, the
requirements of the Regulatory Flexibility Act (RFA) (5 U.S.C. 601 et
seq.) do not apply.
    This final rule directly regulates growers, food processors, food
handlers, and food retailers, not States or tribes, nor does this
action alter the relationships or distribution of power and
responsibilities established by Congress in the preemption provisions
of section 408(n)(4) of FFDCA. As such, the Agency has determined that
this action will not have a substantial direct effect on States or
tribal governments, on the relationship between the national government
and the States or tribal governments, or on the distribution of power
and responsibilities among the various levels of government or between
the Federal Government and Indian tribes. Thus, the Agency has
determined that Executive Order 13132, entitled Federalism (64 FR
43255, August 10, 1999) and Executive Order 13175, entitled
Consultation and Coordination with Indian Tribal Governments (65 FR
67249, November 9, 2000) do not apply to this rule. In addition, This
rule does not impose any enforceable duty or contain any unfunded
mandate as described under Title II of the Unfunded Mandates Reform Act
of 1995 (UMRA) (Public Law 104-4).
    This action does not involve any technical standards that would
require Agency consideration of voluntary consensus standards pursuant
to section 12(d) of the National Technology Transfer and Advancement
Act of 1995 (NTTAA), Public Law 104-113, section 12(d) (15 U.S.C. 272
note).

IX. Congressional Review Act

    The Congressional Review Act, 5 U.S.C. 801 et seq., generally
provides that before a rule may take effect, the agency promulgating
the rule must submit a rule report to each House of the Congress and to
the Comptroller General of the United States. EPA will submit a report
containing this rule and other required information to the U.S. Senate,
the U.S. House of Representatives, and the Comptroller General of the
United States prior to publication of this final rule in the Federal
Register. This final rule is not a ``major rule'' as defined by 5
U.S.C. 804(2).

List of Subjects in 40 CFR Part 180

    Environmental protection, Administrative practice and procedure,
Agricultural commodities, Pesticides and pests, Reporting and
recordkeeping requirements.

    Dated: March 20, 2008.
Debra Edwards,
Director, Office of Pesticide Programs.

0
Therefore, 40 CFR chapter I is amended as follows:

PART 180--AMENDED]

0
1. The authority citation for part 180 continues to read as follows:

    Authority: 21 U.S.C. 321(q), 346a and 371.

0
2. Section 180.1281 is added to subpart D to read as follows:

Sec.  180.1281  S-Abscisic Acid; exemption from the requirement of a
tolerance.

    S-Abscisic Acid, (S)-5-(1-hydroxy-2,6,6-trimethyl-4-oxo-1-cyclohex-
2-enyl)-3-methyl-penta-(2Z,4E)-dienoic Acid, is temporarily exempt from
the requirement of a tolerance when used as a plant regulator in or on
grape in accordance with the Experimental Use Permit 73049-EUP-4. This
temporary exemption from tolerance will expire October 1, 2010.

[FR Doc. E8-6404 Filed 3-27-08; 8:45 am]

BILLING CODE 6560-50-S


[Federal Register Volume 85, Number 221 (Monday, November 16, 2020)]
[Notices]
[Pages 73121-73124]
[FR Doc No: 2020-25178]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-90382; File No. SR-NYSE-2020-90]

Self-Regulatory Organizations; New York Stock Exchange LLC;
Notice of Filing of Proposed Rule Change To Amend the Requirement
Applicable to Special Purpose Acquisition Companies Upon Consummation
of a Business Combination Concerning Compliance With the Round Lot
Shareholder Requirement

November 9, 2020.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby given
that, on October 27, 2020, New York Stock Exchange LLC (``NYSE'' or
``Exchange'') filed with the Securities and Exchange Commission
(``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 15 U.S.C. 78a.
    \3\ 17 CFR 240.19b-4.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange proposes to amend certain of the requirements of the
NYSE Listed Company Manual (``Manual'') that are applicable to special
purpose acquisition companies upon consummation of a business
combination. The proposed rule change is available on the Exchange's
website at www.nyse.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 self-regulatory organization
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 those 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 parts of such
statements.

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

1. Purpose
    Section 102.06 of the Manual sets forth initial listing
requirements applicable to a company whose business plan is to complete
an initial public offering and engage in a merger or acquisition with
one or more unidentified companies within a specific period of time (an
``Acquisition Company'' or ``AC'').\4\ Section 102.06 requires, in
part, that an Acquisition Company: (i) Deposit into and retain in an
escrow account at least 90% of the proceeds of its initial public
offering, together with the proceeds of any other concurrent sales of
the AC's equity securities, through the date of its Business
Combination; (ii) complete the Business Combination within 36 months of
the effectiveness of the IPO registration statement; and (iii) provide
the public shareholders who object to the Business Combination with the
right to convert their common stock into a pro rata share of the funds
held in escrow.\5\
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    \4\ Section 102.06 provides that an Acquisition Company must
complete one or more business combinations having an aggregate fair
market value of at least 80% of the value of the deposit account
(the ``Business Combination'') within 36 months of the effectiveness
of its IPO registration statement.
    \5\ Section 102.06 also requires that each proposed business
combination be approved by a majority of the company's independent
directors.
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    Section 802.01B of the Manual currently states that: After
consummation of its Business Combination, a company that had originally
listed as an AC will be subject to Section 801 and Section 802.01 in
its entirety and will be required immediately upon consummation of the
Business Combination to meet the following requirements:
    (i) A price per share of at least $4.00;
    (ii) a global market capitalization of at least $150,000,000;
    (iii) an aggregate market value of publicly-held shares of at least
$40,000,000; \6\ and
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    \6\ Shares held by directors, officers, or their immediate
families and other concentrated holding of 10 percent or more are
excluded in calculating the number of publicly-held shares.
---------------------------------------------------------------------------

    (iv) the requirements with respect to shareholders and publicly-
held shares set forth in Section 102.01A for companies listing in
connection with an initial public offering.\7\
---------------------------------------------------------------------------

    \7\ The applicable requirement is 400 holders of round lots
(i.e., 100 shares).
---------------------------------------------------------------------------

    Section 802.01B also provides that an Acquisition Company failing
to meet these requirements will be promptly subject to suspension and
delisting proceedings. However, while it is clear that an Acquisition
Company must satisfy all initial listing requirements immediately upon
consummation of its Business Combination, Section 802.01B does not
provide a timetable for the company to demonstrate that it satisfies
those requirements. Accordingly, the Exchange proposes to modify the
rule to specify that if the Acquisition Company demonstrates that it
will satisfy all requirements except the applicable round lot
shareholder requirement, then the company will receive 15 calendar days
following the closing to demonstrate that it satisfied the applicable
round lot shareholder requirement immediately following the
transaction's closing.
    When a listed AC consummates its Business Combination, the Exchange
will also consider whether the Business Combination gives rise to a
``back door listing'' as described in Section 703.08(E). If the
resulting company would not qualify for original listing (including by
meeting the applicable distribution standards), the Exchange will
promptly initiate suspension and delisting of the AC. The Exchange
proposes to modify the rule in relation to Business Combinations that
give rise to a ``back door listing'' to specify that if the Acquisition
Company demonstrates that it will satisfy all requirements except the
applicable round lot shareholder requirement, then the company will
receive 15 calendar days following the closing to demonstrate that it
satisfied the applicable round lot shareholder requirement immediately
following the transaction's closing.
    In determining compliance with the round lot shareholder
requirement at the time of a Business Combination, the Exchange will
review a company's public disclosures and information provided by the
company about the transaction. For example, the merger agreement may
result in the Acquisition Company issuing a round lot of shares to more
than 400 holders of the target of the Business Combination at closing.
If public information is not available that enables the Exchange to
determine compliance, the Exchange will typically request that the
company provide additional information such as registered shareholder
lists from the company's transfer agent, data from Cede & Co. about
shares held in street name, or data from broker-dealers and from third
parties that distribute information such as proxy materials for the
broker-dealers. If the company can provide information demonstrating
compliance before the Business Combination closes, no further
information would be required.\8\
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    \8\ Companies must seek this information from third parties
because many accounts are held in street name and shareholders may
object to being identified to the company.
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    However, the Exchange has observed that in some cases it can be
difficult for a company to obtain evidence demonstrating the number of
shareholders that it has or will have following a Business Combination.
As noted above, shareholders of an Acquisition Company may redeem or
tender their shares until just before the time of the Business
Combination, and the company may not know how many shareholders will
choose to redeem until very close to the consummation of the business
combination. In cases where the number of round lot shareholders is
close to the applicable requirement, this could affect the ability for
the Exchange to determine compliance before the Business Combination
closes. Accordingly, for a company that has demonstrated that it will
satisfy all initial listing requirements except for the round lot
shareholder requirement (including the initial listing standards that
are applicable in the event that the Business Combination gives rise to
a ``back door listing'') before consummating the Business Combination,
the Exchange will allow the company 15 calendar days after the closing
of the Business Combination to demonstrate that it also complied with
the round lot requirement at the time of the business combination. To
be clear, the company must still demonstrate that it satisfied the
round lot shareholder requirement immediately following the Business
Combination; the proposal is merely giving the company 15 calendars
days to provide evidence that it did.
    The Exchange believes that this proposal balances the burden placed
on the Acquisition Company to obtain accurate shareholder information
for the new entity and the need to ensure that a company that does not
satisfy the initial listing requirements following a Business
Combination enters the delisting process promptly. If the company does
not evidence compliance within the proposed time period, Exchange staff
would immediately

commence suspension and delisting proceedings with respect to the
company.
2. Statutory Basis
    The proposed rule change is consistent with Section 6(b) of the
Act,\9\ in general, and furthers the objectives of Section 6(b)(5) of
the Act,\10\ in particular, in that it is designed to prevent
fraudulent and manipulative acts and practices, to promote just and
equitable principles of trade, to foster cooperation and coordination
with persons engaged in facilitating transactions in securities, to
remove impediments to and perfect the mechanism of a free and open
market and a national market system, and, in general, to protect the
public interest and the interests of investors, by imposing a specific
timeline for Acquisition Companies to demonstrate that they will comply
with the initial listing requirements following a Business Combination
and allowing a reasonable period of time for the company to provide
evidence that it complied with the round lot shareholder requirement at
the time of the business combination.
---------------------------------------------------------------------------

    \9\ 15 U.S.C. 78f(b).
    \10\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

    The proposed rule would specify the time when an Acquisition
Company must demonstrate compliance with the initial listing standards
following the completion of a Business Combination, thereby enhancing
investor protection. Specifically, it would require an Acquisition
Company to provide evidence before completing the Business Combination
that it will satisfy all requirements for initial listing, except for
the round lot shareholder requirement. While the proposed rule would
allow Acquisition Companies 15 calendar days, if needed, to provide
evidence that they also complied with the round lot shareholder
requirement at the time of the Business Combination, that additional
time is a reasonable accommodation given both the difficulty companies
face in identifying their shareholders and the ability for the
Acquisition Company's shareholders to redeem their shares when the
Business Combination is consummated. In that regard, Acquisition
Companies are unlike other newly listing companies, which do not face
redemptions and are not already listed and trading at the time they
must demonstrate compliance. Importantly, the company must still
demonstrate that it satisfied the round lot shareholder requirement
immediately following the Business Combination. As such, the Exchange
believes that the proposed rule change appropriately balances the
protection of prospective investors with the protection of shareholders
of the Acquisition Company, the latter of whom would be harmed if the
Exchange issued a delisting determination at a time when the company
did, in fact, satisfy all initial listing requirements but could not
yet provide proof.
    The proposed rule change is also consistent with Section 6(b)(7) of
the Act in that it provides a fair procedure for the prohibition or
limitation by the Exchange of any person with respect to access to
services offered. The proposed rule change accounts for the particular
difficulties encountered by Acquisition Companies when attempting to
determine their total number of shareholders due to the ability of
shareholders to redeem their shares. Acquisition Companies will still
be required to demonstrate compliance with all initial listing
standards immediately following the Business Combination, which is the
initial listing of the combined company. This is no different from the
requirements imposed on other newly listing companies.

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. The proposed rule would clarify
that a company listing in connection with a merger with an Acquisition
Company must provide evidence before completing the Business
Combination that it will satisfy all requirements for initial listing,
although a reasonable accommodation would be made to allow the company
to demonstrate compliance with the round lot shareholder requirement
before the immediate commencement of suspension and delisting
procedures if that is the only requirement that the company cannot
demonstrate compliance with before completing the Business Combination.
This change is not expected to have any impact on competition.

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 with respect to the
proposed rule change.

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 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 (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSE-2020-90 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-NYSE-2020-90. This file
number should be included on the subject line if email is used. To help
the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (http://www.sec.gov/rules/sro.shtml).
Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for website viewing and printing in
the Commission's Public Reference Room, 100 F Street NE, Washington, DC
20549 on official business days between the hours of 10:00 a.m. and
3:00 p.m. Copies of the filing also will be available for

inspection and copying at the principal office of the Exchange. All
comments received will be posted without change. Persons submitting
comments are cautioned that we do not redact or edit personal
identifying information from comment submissions. You should submit
only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSE-2020-90, and should be
submitted on or before December 7, 2020.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\11\
---------------------------------------------------------------------------

    \11\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

J. Matthew DeLesDernier,
Assistant Secretary.
[FR Doc. 2020-25178 Filed 11-13-20; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register Volume 85, Number 18 (Tuesday, January 28, 2020)]
[Notices]
[Page 4968]
[FR Doc No: 2020-01417]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket No. CP20-37-000]

Notice of Application: Texas Eastern Transmission, LP

    Take notice that on January 10, 2020, Texas Eastern Transmission,
LP (Texas Eastern), 5400 Westheimer Court, Houston, TX 77056, filed an
application under section 7(c) of the Natural Gas Act (NGA) and Part
157 of the Commission's rules and regulations to replace four existing
compressor units at its Lilly Compressor Station, located in Cambria
County, Pennsylvania (Lilly Compressor Units Replacement Project).
Specifically, Texas Eastern is requesting authorization to replace a
total of four existing compressor units with a total certificated
horsepower (hp) of 34,800 hp with two new 18,100 hp natural gas-fired
units totaling 36,200 hp and related auxiliary facilities, all as more
fully described in the application which is on file with the Commission
and open to public inspection. The filing may also be viewed on the web
at 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. For assistance, contact FERC at
<EMAIL_ADDRESS>or call toll-free,<PHONE_NUMBER> or TTY,
(202) 502-8659.
    Texas Eastern also states that they will install software controls
on the two new units, limiting the total horsepower at the compressor
station to 34,800 hp in order to maintain the current designed
horsepower and delivery capacity at the Lilly Compressor Station.
    Any questions regarding this application should be directed to Lisa
A. Connolly, Director, Rates and Certificates, Texas Eastern
Transmission, LP, P.O. Box 1642, Houston, Texas 77251-1642, or call
(713) 627-4102, fax<PHONE_NUMBER>, or email:
<EMAIL_ADDRESS>    Pursuant to section 157.9 of the Commission's rules (18 CFR 157.9),
within 90 days of this Notice, the Commission staff will either:
Complete its environmental assessment (EA) and place it into the
Commission's public record (eLibrary) for this proceeding; or issue a
Notice of Schedule for Environmental Review. If a Notice of Schedule
for Environmental Review is issued, it will indicate, among other
milestones, the anticipated date for the Commission staff's issuance of
the final environmental impact statement (FEIS) or EA for this
proposal. The filing of the EA in the Commission's public record for
this proceeding or the issuance of a Notice of Schedule for
Environmental Review will serve to notify federal and state agencies of
the timing for the completion of all necessary reviews, and the
subsequent need to complete all federal authorizations within 90 days
of the date of issuance of the Commission staff's FEIS or EA.
    There are two ways to become involved in the Commission's review of
this project. First, any person wishing to obtain legal status by
becoming a party to the proceedings for this project should, on or
before the comment date stated below file with the Federal Energy
Regulatory Commission, 888 First Street NE, Washington, DC 20426, a
motion to intervene in accordance with the requirements of the
Commission's Rules of Practice and Procedure (18 CFR 385.214 or
385.211) and the Regulations under the NGA (18 CFR 157.10). A person
obtaining party status will be placed on the service list maintained by
the Secretary of the Commission and will receive copies of all
documents filed by the applicant and by all other parties. A party must
submit 3 copies of filings made with the Commission and must provide a
copy to the applicant and to every other party. Only parties to the
proceeding can ask for court review of Commission orders in the
proceeding.
    However, a person does not have to intervene in order to have
comments considered. The second way to participate is by filing with
the Secretary of the Commission, as soon as possible, an original and
two copies of comments in support of or in opposition to this project.
The Commission will consider these comments in determining the
appropriate action to be taken, but the filing of a comment alone will
not serve to make the filer a party to the proceeding. The Commission's
rules require that persons filing comments in opposition to the project
provide copies of their protests only to the party or parties directly
involved in the protest.
    Persons who wish to comment only on the environmental review of
this project should submit an original and two copies of their comments
to the Secretary of the Commission. Environmental commentors will be
placed on the Commission's environmental mailing list, and will be
notified of any meetings associated with the Commission's environmental
review process. Environmental commentors will not be required to serve
copies of filed documents on all other parties. However, the non-party
commentors will not receive copies of all documents filed by other
parties or issued by the Commission and will not have the right to seek
court review of the Commission's final order.
    As of the February 27, 2018 date of the Commission's order in
Docket No. CP16-4-001, the Commission will apply its revised practice
concerning out-of-time motions to intervene in any new Natural Gas Act
section 3 or section 7 proceeding.\1\ Persons desiring to become a
party to a certificate proceeding are to intervene in a timely manner.
If seeking to intervene out-of-time, the movant is required to ``show
good cause why the time limitation should be waived,'' and should
provide justification by reference to factors set forth in Rule
214(d)(1) of the Commission's Rules and Regulations.\2\
---------------------------------------------------------------------------

    \1\ Tennessee Gas Pipeline Company, L.L.C., 162 FERC ] 61,167 at
] 50 (2018).
    \2\ 18 CFR 385.214(d)(1).
---------------------------------------------------------------------------

    The Commission strongly encourages electronic filings of comments,
protests and interventions in lieu of paper using the ``eFiling'' link
at http://www.ferc.gov. Persons unable to file electronically should
submit an original and 3 copies of the protest or intervention to the
Federal Energy Regulatory Commission, 888 First Street NE, Washington,
DC 20426.
    Comment Date: 5:00 p.m. Eastern Time on February 12, 2020.

    Dated: January 22, 2020.
Kimberly D. Bose,
Secretary.
[FR Doc. 2020-01417 Filed 1-27-20; 8:45 am]
 BILLING CODE 6717-01-P


[Federal Register: September 28, 2009 (Volume 74, Number 186)]
[Notices]
[Page 49371]
[DOCID:fr28se09-48]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings No. 2

September 17, 2009.
    Take notice that the Commission has received the following Natural
Gas Pipeline Rate and Refund Report filings:

    Docket Numbers: RP99-518-112.
    Applicants: Gas Transmission Northwest Corporation.
    Description: Gas Transmission Northwest Corporations submits
certain revised sheets to be a part of its FERC Gas tariff, Third
Revised Volume 1-a.
    Filed Date: 09/09/2009.
    Accession Number: 20090910-0455.
    Comment Date: 5 p.m. Eastern Time on Monday, September 21, 2009.

    Docket Numbers: RP09-448-002.
    Applicants: Texas Gas Transmission, LLC.
    Description: Texas Gas Transmission, LLC submits First Revised
Sheet 2603 et al to FERC Gas Tariff, Third Revised Volume 1.
    Filed Date: 09/11/2009.
    Accession Number: 20090911-0100.
    Comment Date: 5 p.m. Eastern Time on Wednesday, September 23, 2009.

    Docket Numbers: RP09-611-001.
    Applicants: Carolina Gas Transmission Corporation.
    Description: Carolina Gas Transmission Corporation submits Second
Revised Sheet 212 to its FERC Gas Tariff, Original Volume 1.
    Filed Date: 09/15/2009.
    Accession Number: 20090916-0085.
    Comment Date: 5 p.m. Eastern Time on Monday, September 28, 2009.

    Docket Numbers: RP09-611-002.
    Applicants: Carolina Gas Transmission Corporation.
    Description: Carolina Gas Transmission Corporation submits Second
Revised Sheet 212 to its FERC Gas Tariff, Original Volume 1.
    Filed Date: 09/15/2009.
    Accession Number: 20090916-0085.
    Comment Date: 5 p.m. Eastern Time on Monday, September 28, 2009.

    Docket Numbers: RP09-734-002.
    Applicants: Southern Star Central Gas Pipeline, Inc.
    Description: Southern Star Central Gas Pipeline, Inc submits Fourth
Revised Sheet 289 et al to FERC Gas Tariff, First Revised Volume 1.
    Filed Date: 09/11/2009.
    Accession Number: 20090911-0101.
    Comment Date: 5 p.m. Eastern Time on Wednesday, September 23, 2009.

    Docket Numbers: RP09-856-001.
    Applicants: Horizon Pipeline Company, L.L.C.
    Description: Horizon Pipeline Company, LLC submits Substitute First
Revised Sheet 300 et al to FERC Gas Tariff, Original Volume 1, to be
effective 10/11/09.
    Filed Date: 09/11/2009.
    Accession Number: 20090911-0099.
    Comment Date: 5 p.m. Eastern Time on Wednesday, September 23, 2009.

    Docket Numbers: RP08-426-009.
    Applicants: El Paso Natural Gas Company.
    Description: El Paso Natural Gas Company submits Fifth Revised
Sheet No 200A et al to FERC Gas Tariff, Second Revised Volume No 1A.
    Filed Date: 09/14/2009.
    Accession Number: 20090915-0051.
    Comment Date: 5 p.m. Eastern Time on Monday, September 28, 2009.

    Docket Numbers: RP09-1027-001.
    Applicants: White River Hub, LLC.
    Description: White River Hub, LLC submits Substitute First Revised
Sheet No 243 to its FERC Gas Tariff, Original Volume No 1.
    Filed Date: 09/14/2009.
    Accession Number: 20090915-0055.
    Comment Date: 5 p.m. Eastern Time on Monday, September 28, 2009.

    Docket Numbers: RP09-1028-001.
    Applicants: Questar Southern Trails Pipeline Company.
    Description: Questar Southern Trails Pipeline Co submits Sub First
Revised Sheet No. 130 to FERC Gas Tariff, Second Revised Volume No. 1-
A.
    Filed Date: 09/14/2009.
    Accession Number: 20090915-0054.
    Comment Date: 5 p.m. Eastern Time on Monday, September 28, 2009.

    Docket Numbers: RP09-1029-001.
    Applicants: Questar Overthrust Pipeline Company.
    Description: Questar Overthrust Pipeline Co submits Sub First
Revised Sheet No. 211 to FERC Gas Tariff, Second Revised Volume No. 1-
A.
    Filed Date: 09/14/2009.
    Accession Number: 20090915-0053.
    Comment Date: 5 p.m. Eastern Time on Monday, September 28, 2009.

    Docket Numbers: RP09-1030-001.
    Applicants: Questar Pipeline Company.
    Description: Questar Pipeline Company submits Substitute Fourth
Revised Sheet No 202 to its FERC Gas Tariff, First Revised Volume No 1.
    Filed Date: 09/14/2009.
    Accession Number: 20090915-0052.
    Comment Date: 5 p.m. Eastern Time on Monday, September 28, 2009.

    Any person desiring to protest this filing must file in accordance
with Rule 211 of the Commission's Rules of Practice and Procedure (18
CFR 385.211). Protests to this filing will be considered by the
Commission in determining the appropriate action to be taken, but will
not serve to make protestants parties to the proceeding. Such protests
must be filed on or before 5 p.m. Eastern time on the specified comment
date. Anyone filing a protest must serve a copy of that document on all
the parties to the proceeding.
    The Commission encourages electronic submission of protests in lieu
of paper using the ``eFiling'' link at http://www.ferc.gov. Persons
unable to file electronically should submit an original and 14 copies
of the protest to the Federal Energy Regulatory Commission, 888 First
Street, NE., Washington, DC 20426.
    This filing is accessible on-line at http://www.ferc.gov, using the
``eLibrary'' link and is available for review in the Commission's
Public Reference Room in Washington, DC. There is an ``eSubscription''
link on the Web site that enables subscribers to receive e-mail
notification when a document is added to a subscribed docket(s). For
assistance with any FERC Online service, please e-mail
<EMAIL_ADDRESS>or call<PHONE_NUMBER> (toll free). For
TTY, call<PHONE_NUMBER>.

Nathaniel J. Davis,
Deputy Secretary.
[FR Doc. E9-23351 Filed 9-25-09; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register: April 10, 2008 (Volume 73, Number 70)]
[Notices]
[Page 19539-19540]
[DOCID:fr10ap08-102]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-57614; File No. SR-NASDAQ-2008-029]

Self-Regulatory Organizations; The NASDAQ Stock Market LLC;
Notice of Filing and Immediate Effectiveness of Proposed Rule Change To
Modify a Pricing Incentive Program for Market Makers in Exchange-Traded
Funds and Index-Linked Securities Listed on NASDAQ

April 3, 2008.
    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 March 31, 2008, The NASDAQ Stock Market LLC (``NASDAQ'') filed with
the Securities and Exchange Commission (``Commission'') the proposed
rule change as described in Items I, II, and III below, which Items
have been prepared by NASDAQ. Pursuant to Section 19(b)(3)(A)(ii) of
the Act \3\ and Rule 19b-4(f)(2) thereunder,\4\ NASDAQ has designated
this proposal as establishing or changing a due, fee, or other charge,
which renders the proposed rule change effective immediately upon
filing. The Commission is publishing this notice to solicit comments on
the proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    NASDAQ proposes to modify a pricing incentive program for market
makers in exchange-traded funds (``ETFs'') and index-linked securities
(``ILSs'') listed on NASDAQ. NASDAQ will implement the proposed rule
change on April 1, 2008. The text of the proposed rule change is
available at the Exchange, the Commission's Public Reference Room, and
http://www.nasdaq.com/about/LegalCompliance.stm.

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

    In its filing with the Commission, NASDAQ 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. NASDAQ 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
    Last year, NASDAQ introduced a pricing incentive program for market
makers in ETFs and ILSs listed on NASDAQ. The program was designed both
to enhance NASDAQ's competitiveness as a listing venue for ETFs and
ILSs and to further strengthen its market quality as a transaction
venue for ETFs and ILSs.
    Under NASDAQ's program, a market maker in an ETF or ILS may become
a ``Designated Liquidity Provider'' in a ``Qualified Security'' and
receive favorable incentive pricing. A ``Designated Liquidity
Provider'' is a registered NASDAQ market maker in a Qualified Security
that has committed to maintain minimum performance standards. The
minimum performance standards applicable to a Designated Liquidity
Provider may be determined from time to time by NASDAQ and may vary
depending on the price, liquidity, and volatility of a particular
Qualified Security. The performance measurements include: (A) Percent
of time at the national best bid/best offer (``NBBO''); (B) percent of
executions better than the NBBO; (C) average displayed size; and (D)
average quoted spread. NASDAQ may remove Designated Liquidity Providers
that do not meet performance standards or that decide to change their
status at any time.
    A Qualified Security is an ETF or ILS that is listed on NASDAQ, has
at least one Designated Liquidity Provider, and trades at volumes below
a NASDAQ-designated maximum trading volume. Since the inception of the
program, the maximum trading volume has been set such that a security
is no longer eligible to be a Qualified Security once there have been
two calendar months in any three calendar-month period during which its
average daily volume on NASDAQ exceeded 250,000 shares. Although the
program has had some success in encouraging additional listings of ETFs
on NASDAQ since its inception, NASDAQ has concluded, based on feedback
from sponsors of ETFs and ILSs and market makers, that the
attractiveness of NASDAQ as a listing venue for these products would be
further enhanced by increasing the maximum volume threshold such that a
security would no longer be a Qualified Security once there have been
two calendar months in any three calendar-month period during which its
average daily volume on NASDAQ exceeded 10,000,000 shares. NASDAQ
believes that this increase reflects a commitment to make NASDAQ the
most attractive venue for listing and trading ETFs and ILSs. The change
will encourage market maker support for ETFs and ILSs beyond their
initial introductory period and thereby further enhance liquidity for
the products as their trading volumes increase.
    Designated Liquidity Providers will continue to pay $0.003 per
share executed when accessing liquidity in Qualified Securities; when
providing liquidity, the Designated Liquidity Provider will continue to
receive a credit of $0.004 per share executed. Consistent with the
requirements of Regulation NMS, in the unlikely event that a security
is trading at less than $1 per share, the normal execution fee and
credit schedule in Rule 7018(a) regarding securities trading at less
than $1 would apply. Once the 10,000,000 share volume threshold is
reached, the pricing for the ETF or ILS becomes consistent with pricing
for other securities traded on NASDAQ.
2. Statutory Basis
    NASDAQ believes that the proposed rule change is consistent with
the provisions of Section 6 of the Act,\5\ in general, and with Section
6(b)(4) and (5) of the Act,\6\ in particular, in that the provides for
the equitable allocation of reasonable dues, fees and other charges
among members and issuers and other persons using any facility or
system which NASDAQ operates or controls, and 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. NASDAQ believes
that by allocating pricing benefits to market makers that make tangible
commitments to enhancing market quality for ETFs and ILSs listed on
NASDAQ, the proposal will encourage the development of new financial
products, provide a better trading environment for investors in ETFs
and ILSs, and encourage greater competition between listing venues for
ETFs and ILSs.
---------------------------------------------------------------------------

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

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

    NASDAQ believes that the proposed rule change will encourage
greater competition among venues that list ETFs and ILSs, and will
further strengthen the quality of the NASDAQ market as a venue for
transactions in ETFs and ILSs. Accordingly, NASDAQ does not believe
that the proposed rule change will result in any burden on competition
that is not necessary or appropriate in furtherance of the purposes of
the Act.

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

    Written comments were neither solicited nor received.

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

    Because the foregoing rule change establishes or changes a due,
fee, or other charge imposed by the Exchange, it has become effective
pursuant to Section 19(b)(3)(A) of the Act \7\ and Rule 19b-4(f)(2) \8\
thereunder. At any time within 60 days of the filing of such proposed
rule change, the Commission may summarily abrogate 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.
---------------------------------------------------------------------------

    \7\ 15 U.S.C. 78s(b)(3)(A).
    \8\ 17 CFR 240.19b-4(f)(2).
---------------------------------------------------------------------------

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-2008-029 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NASDAQ-2008-029. 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 inspection
and copying in the Commission's Public Reference Room on official
business days between the hours of 10 a.m. and 3 p.m. Copies of such
filing also will be available for inspection and copying at the
principal office of the NASDAQ. 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-2008-029 and should be submitted on or before May
1, 2008.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\9\
---------------------------------------------------------------------------

    \9\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Florence E. Harmon,
Deputy Secretary.
 [FR Doc. E8-7507 Filed 4-9-08; 8:45 am]

BILLING CODE 8011-01-P


[Federal Register Volume 86, Number 217 (Monday, November 15, 2021)]
[Notices]
[Pages 63045-63046]
[FR Doc No: 2021-24747]

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DEPARTMENT OF HOMELAND SECURITY

Federal Emergency Management Agency

[Internal Agency Docket No. FEMA-4625-DR; Docket ID FEMA-2021-0001]

New York; 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 New York (FEMA-4625-DR), dated October 8,
2021, and related determinations.

DATES: The declaration was issued October 8, 2021.

FOR FURTHER INFORMATION CONTACT: Dean Webster, 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 October 8, 2021, 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 New York resulting from the remnants of Tropical Storm Fred
during the period of August 18 to August 19, 2021, 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 New York.
    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 Public Assistance in the
designated areas and Hazard Mitigation throughout the State.
Consistent with the requirement that Federal assistance be
supplemental, any Federal funds provided under the Stafford Act for
Public Assistance and Hazard Mitigation 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 Federal Emergency Management Agency (FEMA) hereby gives notice
that pursuant to the authority vested in the Administrator, under
Executive Order 12148, as amended, Lai Sun Yee, of FEMA is appointed to
act as the Federal

Coordinating Officer for this major disaster.
    The following areas of the State of New York have been designated
as adversely affected by this major disaster:

    Allegany, Cayuga, Cortland, Lewis, Oneida, Steuben, Tioga, and
Yates Counties for Public Assistance.
    All areas within the State of New York are eligible 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.

Deanne Criswell,
Administrator, Federal Emergency Management Agency.
[FR Doc. 2021-24747 Filed 11-12-21; 8:45 am]
BILLING CODE 9111-23-P


[Federal Register Volume 85, Number 51 (Monday, March 16, 2020)]
[Notices]
[Pages 15029-15032]
[FR Doc No: 2020-05282]

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DEPARTMENT OF TRANSPORTATION

Office of the Secretary of Transportation

Notice of Funding Opportunity for Letters of Interest for the
RRIF Express Pilot Program Under the Railroad Rehabilitation &
Improvement Financing Program

AGENCY:  Office of the Secretary of Transportation and U.S. Department
of Transportation (the ``DOT'').

ACTION: Notice of funding opportunity

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SUMMARY: This notice modifies the pilot Railroad Rehabilitation and
Improvement Financing (``RRIF'') Express Program (``RRIF Express'')
aimed at increasing access to the RRIF program by short line and
regional railroads. Specifically, this notice:
    1. Clarifies dates and responsibilities of applicants who have
submitted RRIF Express Letters of Interest between January 13, 2020 and
the date of this notice (Section DATES)
    2. Offers an alternative to the current requirement for five years
of audited financial statements, allowing for audits of the two most
recent years' financial statements. If this option is selected,
applicants must produce five years of (non-audited) financial
statements plus a self-certification from the applicant that they will
provide the most recent two years of audited financial statements
within 60 days of submitting the LOI and supporting materials (Section
IV(iv)).
    3. Resets the 90-day application period to begin on the date that
this revision is posted in the Federal Register (Section DATES)
    The original NOFO with modifications follows.
    The RRIF Express Program will be administered by the DOT's National
Surface Transportation and Innovative Finance Bureau (the ``Build
America Bureau'' or ``Bureau''). The overall RRIF program finances
development of railroad infrastructure, and is authorized to have up to
$35 billion in outstanding principal amounts from direct loans and loan
guarantees at any one time.
    The 2018 Consolidated Appropriations Act \1\ appropriated $25
million in budget authority to the DOT to cover the cost to the Federal
Government (``the Government'') of RRIF credit assistance (Credit Risk
Premium (``CRP'') Assistance or ``CRP Assistance''). Additionally, the
2016 Consolidated Appropriations Act \2\ and the 2018 Consolidated
Appropriations Act \3\ provided $1.96 million and $350,000,
respectively (of which approximately $1 million remains available), to
the DOT to fund certain expenses incurred by prospective RRIF borrowers
in preparation of their applications for RRIF credit assistance (this
approximately $1 million assistance, collectively, ``Cost
Assistance''). Using existing authorities and these new budget
authorities, the DOT has established the RRIF Express Program.
---------------------------------------------------------------------------

    \1\ Pub. L. 115-141, div. L, tit. I, H.R. 1625 at 646 (as
enrolled Mar. 23, 2018).
    \2\ Pub. L. 114-113, div. L, tit. I, Sec.  152, 129 Stat. 2242,
2856.
    \3\ Pub. L. 115-141, div. L, tit. I, H.R. 1625 at 646 (as
enrolled Mar. 23, 2018).
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    Subject to the availability of funds, applicants accepted into the
RRIF Express Program may benefit from two types of financial
assistance: (a) Cost Assistance up to $100,000 per application to pay
for a portion of the Bureau's advisor expenses borne by applicants; and
(b) for those applicants that ultimately receive RRIF credit
assistance, CRP Assistance up to 5% of the final RRIF loan amount to
offset the CRP paid by the borrower. Any costs beyond $100,000 and any
CRP beyond 5% would be paid by the prospective RRIF borrower. These
funds will be made available to benefit applicants accepted into the
RRIF Express Program on a first come, first served basis until each
source of funding is expended or this notice is superseded by a new
Notice of Funding Opportunity. Letters of Interest will be accepted in
the order received and will be allocated cost assistance based on the
date of acceptance into the pilot program. CRP assistance will be
allocated in the order of financial close. For more information about
potential financial assistance for RRIF Express applicants, see
Supplementary Information: Section II. Funding of CRP and Cost
Assistance.
    This notice solicits Letters of Interest from prospective RRIF
borrowers seeking acceptance into the RRIF Express Program, establishes
eligibility criteria and describes the process that prospective
borrowers must follow when submitting Letters of Interest.

DATES: Letters of Interest from prospective RRIF borrowers for the RRIF
Express Program must be submitted during the following submission
window: From March 16, 2020 to June 15, 2020.
    Prospective RRIF borrowers that have previously submitted a Letter
of Interest but that also seek acceptance into the RRIF Express Program
should resubmit a Letter of Interest during the submission window above
and follow the instructions below. Applicants who previously submitted
Letters of Interest under the RRIF Express Notice of Funding
Opportunity published on December 13, 2019 and whose Letters of
Interest have not been returned as ineligible, do not have to re-apply.

ADDRESSES: Applicants to the RRIF Express Program must use the latest
version of the Letter of Interest form available on the Build America
Bureau website: https://www.transportation.gov/content/build-america-bureau (including applicants who have previously submitted Letters of
Interest and who are now seeking participation in the RRIF Express
Program). Letters of Interest must be submitted to the Build America
Bureau via email at<EMAIL_ADDRESS>using the following subject
line: ``Letter of Interest for RRIF Express Program.'' Submitters
should receive a confirmation email, but are advised to request a
return receipt to confirm transmission. Only Letters of Interest
received via email at the above email address with the subject line
listed above shall be deemed properly filed.

FOR FURTHER INFORMATION CONTACT: For further information regarding this
notice please contact William Resch via email at<EMAIL_ADDRESS>or via telephone at<PHONE_NUMBER>. A TDD is available at<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: RRIF Express pilot program information,
including any additional resources, terms, conditions and requirements
when they become available, can be found on the Build America Bureau
website at: https://www.transportation.gov/buildamerica/rrif-express.
For further information about the overall RRIF program in general,
including details about the types of credit assistance available,
eligibility requirements and the creditworthiness review process,
please refer to the Build America Bureau Credit Programs Guide
(``Programs Guide),'' available on the Build America Bureau website:
https://www.transportation.gov/buildamerica/programs-services/tifia/program-guide.

Table of Contents

I. Background
II. Funding of CRP Assistance and Cost Assistance
III. Eligibility Requirements for RRIF Credit Assistance
IV. Eligibility Criteria for the RRIF Express Program
V. Letter of Interest Process and Review and Next Steps

I. Background

    The Transportation Equity Act for the 21st Century,\4\ established
the RRIF program, authorizing the DOT to provide credit assistance in
the form of direct loans and loan guarantees to public and private
applicants for eligible railroad projects. The RRIF program is a DOT
program and final approval of credit assistance is reserved for the
Secretary of the DOT. The 2005 Safe, Accountable, Flexible, Efficient
Transportation Equity Act: A Legacy for Users; \5\ the Rail Safety
Improvement Act of 2008; \6\ and the 2015 Fixing America's Surface
Transportation Act \7\ (the ``FAST Act'') each made a number of changes
to the RRIF program. In addition, the FAST Act authorized the creation
of the Bureau to consolidate administration of certain DOT credit and
grant programs, including the RRIF program.
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    \4\ Public Law 105-178, Sec.  7203, 112 Stat. 107, 471.
    \5\ Public Law 109-59, Sec.  9003, 119 Stat. 1144, 1921.
    \6\ Public Law 110-432, Sec.  701(e), 122 Stat. 4848, 4906.
    \7\ Public Law 114-94, Subtitle F, 129 Stat. 1312, 1693.
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II. Funding of CRP Assistance and Cost Assistance

    Through the RRIF program, the DOT is authorized to have, at any one
time, up to $35 billion in unpaid principal amounts of obligations
under direct loans and loan guarantees to finance development of
railroad infrastructure.

CRP Assistance

    Prior to the 2018 Consolidated Appropriations Act, the RRIF program
did not have an appropriation of budget authority to pay the cost to
the Government of providing RRIF credit assistance. As a result, the
RRIF borrower or a third party was required to bear this cost through
the payment of a CRP. The 2018 Consolidated Appropriations Act \8\
provided $25 million to the DOT to cover the cost to the Government of
RRIF credit assistance. The DOT will use this funding to pay or offset
the CRP (up to 5% of the RRIF loan amount) payable by participants in
the RRIF Express Program, until this funding is expended or this notice
is superseded by a new Notice of Funding Opportunity.
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    \8\ Public Law 115-141, div. L, tit. I, H.R. 1625 at 646 (as
enrolled Mar. 23, 2018).
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Cost Assistance

    As described in the Programs Guide, RRIF borrowers are required to
pay (or reimburse the DOT) for costs incurred by the Bureau in
connection with the review of Letters of Interest and applications for
RRIF credit assistance. The 2016 Consolidated Appropriations Act \9\
and the 2018 Consolidated Appropriations Act \10\ collectively provided
$2.31 million to the DOT to be used to fund expenses incurred by
prospective RRIF borrowers in preparation to apply for RRIF credit
assistance. A portion of these funds have already been allocated for
prior RRIF projects. The DOT is reserving approximately $1 million of
remaining funds from these appropriations to offset the cost of DOT
advisors (up to $100,000 per application) that would be payable by
participants in the RRIF Express Program, until this funding is
expended or this notice is superseded by a new Notice of Funding
Opportunity.
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    \9\ Public Law 114-113, div. L, tit. I, Sec.  152, 129 Stat.
2242, 2856.
    \10\ Public Law 115-141, div. L, tit. I, H.R. 1625 at 646 (as
enrolled Mar. 23, 2018).
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III. Eligibility Requirements for RRIF Credit Assistance

    The RRIF statute and implementing rules set forth eligibility
requirements for applicants and projects. These requirements as well as
other applicable federal requirements are described in detail in the
Programs Guide and apply to all applicants and projects, including
those seeking acceptance into the RRIF Express Program. In addition,
for prospective borrowers seeking RRIF Express Program benefits, the
requirements set forth in section IV (Eligibility Criteria for the RRIF
Express Program) of this notice also apply.

IV. Eligibility Criteria for the RRIF Express Program

    The DOT has identified the following strategic objectives for the
RRIF Express Program: Encouraging increased utilization of RRIF credit
assistance by Class II and Class III railroads; reducing transaction
costs for Class II and Class III railroads; and streamlining the
underwriting process for Class II and Class III railroads. These
priorities are reflected in the eligibility criteria below. Generally,
projects most suitable for the RRIF Express Program are rail line
modernization projects where the borrower has a well-documented
financial history and easily identified revenue stream(s) for loan
repayment.
    To differentiate among Letters of Interest received for projects
under this notice of funding opportunity, the DOT will consider whether
the project satisfies the following eligibility criteria as
demonstrated by the Letter of Interest:
    (i) Applicant: The applicant must be a Class II railroad, a Class
III railroad, or a joint venture with a Class II or III railroad.
    (ii) Project Size: The project must have eligible project costs of
$50 million or less.
    (iii) Project Scope: The project scope, as described in Section B4
of the Letter of Interest, must be limited to the activities below:
    (a) Track improvement predominantly within existing railroad right-
of-way, including stabilizing embankments, installing or reinstalling
track, re-grading, replacing rail, ties, slabs and ballast, installing,
maintaining, or restoring drainage ditches, cleaning ballast,
constructing minor curve realignments, improving or replacing
interlockings, improving grade crossings and warning devices, and the
installation of ancillary equipment such as for communication, signals
and train control;
    (b) Bridge rehabilitation, including reconstruction or replacement,
the rehabilitation of the rail elements of docks or piers for the
purposes of intermodal transfers, and the construction of bridges,
culverts, or grade separation projects that are predominantly within
existing right-of-way and that do not involve extensive in-water
construction activities, such as projects replacing bridge components
including stringers, caps, piles, or decks, the construction of roadway
overpasses to replace at-grade crossings, construction or
reconstruction of approaches or embankments to bridges, or construction
or replacement of short span bridges;
    (c) Rolling stock acquisition including locomotives, passenger
coaches, freight cars, trainsets, and construction, maintenance or
inspection equipment;
    (d) Planning and design related to the project activities included
under items (a)-(c) above;
    (e) Refinancing of non-federal debt (incurred at least three years
prior to March 16, 2020 and for the purpose of one or more of the
activities listed in 45 U.S.C. 822(b)(1)(A) or (C). Refinancing is
limited to up to 40% of the final RRIF loan amount. Letters of Interest
including refinancing must demonstrate with specificity in Section D5
how the refinancing would improve the creditworthiness of the applicant
and document how such improvement would facilitate the activities
referenced in items (a)-(c) above and would increase the applicant's
ability to repay a RRIF loan and the overall financial health of the
applicant.
    (iv) Applicant Financial History and Projections: Attachment D-1 of
the Letter of Interest must include audited financial statements (by a
qualified third

party, e.g., a certified public accountant) for the two (2) most recent
consecutive years preceding the year of application and that have no
significant unresolved findings (e.g. fiscal years 2018 and 2019).
Interim unaudited financial statements may be submitted with a letter
pledging to provide these audited statements within 60 days of
submitting of the LOI and supporting materials. Failure to provide the
audited financial statements within 60 days will disqualify the LOI.
Applicants choosing this option must still provide unaudited financial
statements for the previous five years and prospective financial
projections (pro-forma) for the term of the loan.
    (v) Collateral: If collateral will be pledged for the RRIF loan,
Section D9 of the Letter of Interest must be supported with an
independent appraisal of the collateral that must have been completed
within the past 12 months preceding submission of an LOI. Section D9 of
the Letter of Interest must demonstrate that the collateral will be
unencumbered at time of closing, including a description of any lien
release process that would occur prior to closing on the RRIF loan to
render currently pledged collateral unencumbered.
    (vi) Environmental Clearance: Section B6 and Attachment B-6 of the
Letter of Interest must demonstrate that either NEPA review is complete
or the project qualifies for a Categorical Exclusion under NEPA, in
which case Attachment B-6 must include a completed Federal Railroad
Administration Categorical Exclusion worksheet with its Letter of
Interest. For projects involving replacement of existing railroad
bridges, supporting documentation must be provided that assesses the
eligibility of the bridge for listing in the National Register of
Historic Places and addressing compliance with Section 106 of the
National Historic Preservation Act.
    (vii) Domestic Preference: Section B4(a) of the Letter of Interest
must demonstrate that the steel, iron, and manufactured goods used in
the project will be produced in the United States in accordance with
the Federal Railroad Administration ``RRIF Buy America'' policy, which
follows 49 U.S.C. 24405(a). Projects that require a waiver are not
eligible for the RRIF Express Program, however, prospective borrowers
can seek a loan from the overall RRIF program for projects that require
a waiver.
    (viii) Project Readiness: Section B4(c) of the Letter of Interest
must demonstrate the prospective borrower's ability to commence the
contracting process for construction of the project (e.g., issuance of
a final RFP) by not later than 90 days after the date on which a RRIF
credit instrument is obligated for the project.

V. Letter of Interest Process and Review and Next Steps

A. Submission of Letters of Interest

    All prospective borrowers seeking acceptance into the RRIF Express
Program should submit a Letter of Interest following the instructions
described in this notice of funding opportunity. The Letter of Interest
should be annotated with ``RRIF EXPRESS'' immediately following the
Applicant Name in the Summary Information section on page one of the
Letter of Interest. The Letter of Interest must, among other things:
    (i) Describe the project and its components, location, and purpose
in Section B, and include as Attachment B-2 the project budget
organized according to construction elements from preliminary
engineering estimates, and including costs as appropriate for property,
vehicles, professional services, allocated and unallocated contingency,
and finance charges;
    (ii) Outline the proposed financial plan in Section C, and include
the financial model, that addresses such aspects as model assumptions,
annual cash flows, balance sheets, income statements and repayment
schedules for the duration of the loan, as well as coverage ratios and
debt metrics. The model should allow reviewers the flexibility to
evaluate scenarios in the native spreadsheet (Microsoft Excel, or
equivalent) format and be included in the application as Attachment C-
1;
    (iii) Provide information regarding satisfaction of other statutory
eligibility requirements of the RRIF credit program; and
    (iv) Provide information regarding satisfaction of the RRIF Express
Program eligibility criteria (as described in Section IV above).
    Prospective RRIF Express borrowers should describe in Letter of
Interest Section D8 if the project will (1) decrease transportation
costs and improve access, especially for rural communities or
communities in Opportunity Zones,\11\ through reliable and timely
access to employment centers and job opportunities; (2) improve long-
term efficiency, reliability or costs in the movement of workers or
goods; (3) increase the economic productivity of land, capital, or
labor, including assets in Opportunity Zones; (4) result in long-term
job creation and other economic opportunities; or (5) help the United
States compete in a global economy by facilitating efficient and
reliable freight movement. Projects that bridge gaps in service in
rural areas, and projects that attract private economic development,
all support local or regional economic competitiveness.
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    \11\ See https://www.cdfifund.gov/Pages/Opportunity-Zones.aspx
for more information on Opportunity Zones.
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    Letters of Interest must be submitted using the latest form on the
Build America Bureau website: https://www.transportation.gov/content/build-america-bureau. Other RRIF Express pilot program information
including any additional terms, conditions, and requirements can be
found on the Build America Bureau website at: https://www.transportation.gov/buildamerica/rrif-express. The Bureau may
contact a prospective borrower for clarification of specific
information included in the Letter of Interest. The Bureau will review
all Letters of Interest properly filed and received in the submission
time window provided herein.

B. Review and Evaluation

    Each Letter of Interest that is properly filed and received will be
evaluated for completeness and eligibility for the RRIF Express Program
using the criteria in this notice. This initial step of the review
process will include (1) an evaluation as to whether the proposed
project and applicant satisfy RRIF statutory eligibility requirements,
and (2) an evaluation as to whether the proposed project and applicant
satisfy the RRIF Express Program eligibility criteria.
    The Letters of Interest determined to be eligible for the RRIF
Express Program will then be advanced to the Bureau's creditworthiness
review process, which is an in-depth creditworthiness review of the
project sponsor and the revenue stream proposed to repay the RRIF
credit assistance as described in the Programs Guide. The Secretary
reserves the right to limit the number of applications from a single
entity or subordinates of a single parent or holding company.
Prospective RRIF borrowers whose RRIF Express Program Letters of
Interest are determined to be ineligible, but whose projects are
otherwise statutorily eligible for standard RRIF credit assistance,
have the option to be considered under the overall RRIF program.

    Issued in Washington, DC, on March 10, 2020.
 Morteza Farajian,
Executive Director, The Build America Bureau.
[FR Doc. 2020-05282 Filed 3-13-20; 8:45 am]
 BILLING CODE 4910-9X-P


     UNITED STATES ENVIRONMENTAL PROTECTION AGENCY
WASHINGTON, D.C. 20460

                             OFFICE OF CHEMICAL SAFETY
AND POLLUTION PREVENTION
MEMORANDUM FOR THE RECORD

RE:  	Meeting with the Aerospace Industries Association on the Regulation of Persistent, Bioaccumulative, and Toxic Chemicals Under TSCA Section 6(h)
List of Contents
 Meeting Summary
 Attendees

Meeting Summary

On August 9, 2022, representatives from EPA met with the Aerospace Industries Association (AIA) to discuss comments submitted in docket EPA-HQ-OPPT-2021-0598 on the Regulation of Persistent, Bioaccumulative, and Toxic Chemicals Under TSCA Section 6(h); Phenol, Isopropylated Phosphate (3:1); Compliance Date Extension, published March 8, 2022. During the meeting, AIA gave an overview of their membership's concerns regarding the upcoming compliance deadline for the for processing and distribution in commerce and the associated recordkeeping requirements for PIP (3:1) in certain articles. Additionally, AIA presented information on the use of PIP (3:1) in aviation hydraulic fluids, and in lubricants and greases, noting that these continue to be critical uses without easily available alternatives. EPA gave an overview of the TSCA section 6(h) rulemaking activities to date. AIA indicated they would continue engaging with the EPA rulemaking process.

Attendees
EPA:
Niva Kramek
Cindy Wheeler
Gabriela Rossner

AIA:
Mark Sudol
Mark Herwig
Costa Triantafyll
Caroline Kupper
Tim Sheehan
Lindsey Bean
Sophia Danenberg
Sally Gestautas


Served: September 22, 2004

UNITED STATES OF AMERICA

DEPARTMENT OF TRANSPORTATION

OFFICE OF THE SECRETARY

WASHINGTON, D.C.

Issued by the Department of Transportation

on the 22nd day of September, 2004

INTRA ALASKA BUSH SERVICE MAIL RATES

Docket OST-2003-14694

NOTICE

On August 5, 2004, pursuant to Rule 302.11, the Department granted the Consolidated Carriers and Peninsula Airways an additional extension until September 3, 2004, to submit initial comments to Orders 2004-3-34, 2004-6-3, 2004-6-4, and 2004-7-11, establishing bush linehaul mail rates, with rebuttals due 15 days thereafter, on September 20.  On September 17, ERA Aviation requested a 30-day extension, to October 20, for rebuttals.  ERA notes that the Department previously granted Peninsula two separate one-month extensions for initial comments, and Peninsula’s initial comments were extensive and challenging to analyze.

We received rebuttal comments from Peninsula and the Postal Service on September 20, but no party has objected to us granting ERA’s request for an extension.  Accordingly, we will grant ERA’s request that we extend the deadline for rebuttal comments to October 20, 2004.

By:

KARAN K. BHATIA

Assistant Secretary for Aviation

    and International Affairs

(SEAL)

-  PAGE 2  -