[Federal Register Volume 87, Number 140 (Friday, July 22, 2022)]
[Proposed Rules]
[Pages 43772-43779]
[FR Doc No: 2022-15287]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 372

[EPA-HQ-OPPT-2022-0387; FRL-9529-01-OCSPP]
RIN 2070-AL09

Community Right-To-Know; Adopting 2022 North American Industry
Classification System (NAICS) Codes for Toxics Release Inventory (TRI)
Reporting

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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SUMMARY: EPA is proposing to update the list of North American Industry
Classification System (NAICS) codes subject to reporting under the
Toxics Release Inventory (TRI) to reflect the Office of Management and
Budget (OMB) 2022 NAICS code revision. OMB updates the NAICS codes
every five years. EPA currently uses 2017 NAICS codes and is proposing
to implement the 2022 codes for TRI Reporting Year 2022 (i.e.,
facilities reporting to TRI would be required to use 2022 NAICS codes
on reports that are due to the Agency by July 1, 2023). The actual data
required by a TRI form will not change as a result of this rulemaking,
nor will the rule affect the universe of TRI reporting facilities that
are required to submit reports to the Agency under the Emergency
Planning and Community Right-to-Know Act (EPCRA).

DATES: Comments must be received on or before September 20, 2022.

ADDRESSES: Submit your comments, identified by docket identification
(ID) number EPA-HQ-OPPT-2022-0387, through the Federal eRulemaking
Portal at https://www.regulations.gov. Follow the online instructions
for submitting comments. Do not submit electronically any information
you consider to be Confidential Business Information (CBI) or other
information whose disclosure is restricted by statute. Additional
instructions on commenting or visiting the docket, along with more
information about dockets generally, is available at https://www.epa.gov/dockets.

FOR FURTHER INFORMATION CONTACT:
    For technical information contact: Rachel Dean, Data Collection
Branch, Data Gathering and Analysis Division (Mailcode: 7406M), Office
of Pollution Prevention and Toxics, Environmental Protection Agency,
1200 Pennsylvania Ave. NW, Washington, DC 20460; telephone number:
(202) 566-1303; email address: [email protected].

    For general information contact: The Emergency Planning and
Community Right-to-Know Information Center; telephone number: (800)
424-9346 or<PHONE_NUMBER> in the Washington, DC Area and
International; website: https://www.epa.gov/aboutepa/epa-hotlines.

SUPPLEMENTARY INFORMATION:

I. Executive Summary

A. Does this action apply to me?

    You may be potentially affected by this action if you own or
operate facilities that have 10 or more full-time employees or the
equivalent of 20,000 employee hours per year that manufacture, process,
or otherwise use toxic chemicals listed on the TRI, and that are
required under section 313 of EPCRA or section 6607 of the Pollution
Prevention Act (PPA) to report annually to EPA and States or Tribes
their environmental releases or other waste management quantities of
covered chemicals. (A rule was published on April 19, 2012 (77 FR
23409; FRL-9660-9), requiring facilities located in Indian country to
report to the appropriate tribal government official and EPA instead of
to the state and EPA.)
    The following list of 2017 North American Industrial Classification
System (NAICS) codes is not intended to be exhaustive, but rather
provides a guide to help readers determine whether this document
applies to them. Potentially affected entities may include:
     Facilities included in the following NAICS manufacturing
codes (corresponding to Standard Industrial Classification (SIC) codes
20 through 39): 311*, 312*, 313*, 314*, 315*, 316, 321, 322, 323*, 324,
325*, 326*, 327, 331, 332, 333, 334*, 335*, 336, 337*, 339*, 111998*,
113310, 211130* (corresponds to SIC 2819), 212324*, 212325*, 212393*,
212399*, 488390*, 511110, 511120, 511130, 511140*, 511191, 511199,
512230*, 512250*, 519130*, 541713*, 541715*, or 811490*.
    (*Exceptions and/or limitations exist for these NAICS codes.)
     Facilities included in the following NAICS manufacturing
codes (corresponding to SIC codes other than 20-39): 211130
(corresponds to SIC code 1321); or 212111, 212112, 212113, (corresponds
to SIC code 12, Coal Mining (except 1241)); 212221, 212222, 212230,
212299 (corresponds to SIC code 10, Metal Mining (except 1011, 1081,
and 1094)); or 22111*, 221121, 221122, 221330 (limited to facilities
that combust coal and/or oil for the purpose of generating power
distribution in commerce) (corresponds to SIC codes 4911, 4931, and
4939, Electric Utilities); or 424690, 425110, 425120 (limited to
facilities previously classified in SIC code 5169, Chemicals and Allied
Products, Not Elsewhere Classified); or 424710 (corresponds to SIC code
5171, Petroleum Bulk Terminals and Plants); or 562112 (limited to
facilities primarily engaged in solvent recovery services on a contract
or fee basis (previously classified under SIC code 7389, Business
Services, Not Elsewhere Classified)); or 562211, 562212, 562213,
562219, 562920 (limited to facilities regulated under the Resource
Conservation and Recovery Act, subtitle C, 42 U.S.C. 6921 et seq.)
(corresponds to SIC code 4953, Refuse Systems).
    (*Exceptions and/or limitations exist for these NAICS codes.)
     Federal facilities.
    If you have any questions regarding the applicability of this
action to a particular entity, consult the technical person listed in
the FOR FURTHER INFORMATION CONTACT section.

B. What is the Agency's authority for taking this action?

    EPA is taking this action under EPCRA sections 313(g)(1) and 328,
42 U.S.C. 11023(g)(1) and 11048. In general, EPCRA section 313 requires
owners and operators of covered facilities in specified SIC codes that
manufacture, process, or otherwise use listed toxic chemicals in
amounts above specified threshold levels to report certain facility
specific information about such chemicals, including the annual
releases and other waste management quantities. EPCRA section 313(g)(1)
requires EPA to publish a uniform toxic chemical release form for these
reporting purposes, and it also prescribes, in general terms, the types
of information that must be submitted on the form. Congress also
granted EPA broad rulemaking authority to allow the Agency to fully
implement the statute. EPCRA section 328 authorizes EPA to ``prescribe
such regulations as may be necessary to carry out this chapter.'' 42
U.S.C. 11048.

C. Why is EPA taking this action?

    In the Federal Register of April 9, 1997 (62 FR 17288), OMB
published a final decision to adopt the NAICS economic classification
system, replacing the Standard Industry Classification (SIC) system
which had traditionally been used by the Federal Government for
collecting and organizing industry-related statistics. Consistent with
EPCRA section 313 and PPA section 6607, on June 6, 2006, EPA amended 40
CFR part 372 to change TRI reporting from requiring SIC codes to
requiring NAICS codes (71 FR 32464; FRL-8180-2) (Ref. 1). This
amendment to the regulation included the 2002 NAICS codes for TRI
reporting. OMB revises the NAICS codes every five years. Therefore, EPA
subsequently updated the NAICS codes in:
     June 9, 2008 (73 FR 32466; FRL-8577-1) to include the 2007
codes,
     July 18, 2013 (78 FR 42875; FRL-9825-8) (Ref. 2) to
include the 2012 NAICS codes,
     December 26, 2017 (82 FR 60906; FRL-9970-02) to include
the 2017 NAICS codes.
    In the Federal Register of December 21, 2021, OMB announced updated
NAICS codes for 2022 (86 FR 72277). In this document EPA is proposing
to amend 40 CFR part 372 to reflect OMB's updated 2022 NAICS codes.
    NAICS codes are used by EPA's TRI program, which provides the
ability to track releases and other waste management (among other
information) of chemicals by a sector and/or facility basis. This
detailed information is made public so that community members,
industrial facilities, research organizations, and federal government
can make informed decisions that impact human health and the
environment. Also, comparative analysis by sector or facility can
demonstrate the volume of a specific chemical released to air, water,
and land. In addition, NAICS codes help provide a snapshot of pollution
prevention efforts at each facility by demonstrating results of toxic
emissions reductions across industry sectors.

D. What action is the Agency taking?

    Given OMB's revisions to the NAICS codes that became effective
January 1, 2022, EPA is proposing to amend 40 CFR part 372 to update
the 2022 NAICS codes for TRI reporting. In addition, EPA is proposing
to include NAICS codes in 40 CFR part 372 for facilities that are
covered under TRI's SIC codes but had been inadvertently excluded in
past TRI NAICS rulemakings. EPA is also proposing to update the CFR to
account for the discretionary authority provision provided in EPCRA
section 313(b)(2) (42 U.S.C. 11023(b)(2)).
1. NAICS Codes Updated To Conform With the 2022 NAICS Code
Modifications
    Under this action, TRI reporting requirements would remain
unchanged. However, due to the 2022 NAICS code modifications, some
facilities will need to modify their reported NAICS codes as outlined
in Table 1 in Unit I.D., which identifies only the revised TRI NAICS

reporting codes and is not an exhaustive list of all NAICS reporting
codes subject to EPCRA section 313 and PPA section 6607. Table 1 also
includes notes where a 2022 NAICS code is the result of merging 2017
NAICS codes. In those cases, EPA is clarifying which subset of the 2022
NAICS code is covered by TRI. (Note that non-TRI-covered NAICS codes
will not be listed in the table.) A complete listing of all TRI-covered
facilities can be found in the regulations at 40 CFR 372.23.

                                   Table 1--Modified TRI Reporting NAICS Codes
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                                              2017 NAICS and U.S.       2022 NAICS        2022 NAICS and U.S.
             2017 NAICS code                      description              code               description
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212111..................................  Bituminous Coal and                 212114  Surface Coal Mining.
                                           Lignite Surface Mining.
212112..................................  Bituminous Coal                     212115  Underground Coal Mining.
                                           Underground Mining.
212113..................................  Anthracite Mining--                 212114  Surface Coal Mining.
                                           anthracite surface mining
                                           activity.
212113..................................  Anthracite Mining--                 212115  Underground Coal Mining.
                                           anthracite underground
                                           mining activity.
212221..................................  Gold Ore Mining...........          212220  Gold Ore and Silver Ore
                                                                                Mining.
212222..................................  Silver Ore Mining.........              ''  ''
212299..................................  All Other Metal Ore Mining         212290.  Other Metal Ore Mining.
                                                                                This merges both TRI-
                                                                                covered and non-TRI-
                                                                                covered NAICS codes. Only
                                                                                212299: All Other Metal
                                                                                Ore Mining was covered by
                                                                                TRI. TRI will note that
                                                                                only ``All Other Metal
                                                                                Ore Mining'' facilities
                                                                                under NAICS code 212290
                                                                                are required to report.
212324..................................  Kaolin and Ball Clay                212323  Kaolin, Clay, and Ceramic
                                           Mining.                                     and Refractory Minerals
                                                                                Mining.
212325..................................  Clay and Ceramic and                    ''  ''
                                           Refractory Minerals
                                           Mining.
212393..................................  Other Chemical and                  212390  Other Nonmetallic Mineral
                                           Fertilizer Mineral Mining.                  Mining and Quarrying.
212399..................................  All Other Nonmetallic                   ''  ''
                                           Mineral Mining.                            This merges both TRI-
                                                                                covered and non-TRI-
                                                                                covered NAICS codes. Only
                                                                                212393 and 212399 were
                                                                                covered by TRI. TRI will
                                                                                note that only ``Other
                                                                                Chemical and Fertilizer
                                                                                Mineral Mining'' and
                                                                                ``All Other Nonmetallic
                                                                                Mineral Mining''
                                                                                facilities under NAICS
                                                                                code 212390 are required
                                                                                to report.
315110..................................  Hosiery and Sock Mills....          315120  Apparel Knitting Mills.
315190..................................  Other Apparel Knitting                  ''  ''
                                           Mills.
315220..................................  Men's and Boys' Cut and             315250  Cut and Sew Apparel
                                           Sew Apparel Manufacturing.                  Manufacturing (except
                                                                                Contractors).
315240..................................  Women's, Girls', and                    ''  ''
                                           Infants' Cut and Sew
                                           Apparel Manufacturing.
315280..................................  Other Cut and Sew Apparel               ''  ''
                                           Manufacturing.
316992..................................  Women's Handbag and Purse           316990  Other Leather and Allied
                                           Manufacturing.                              Product Manufacturing.
316998..................................  All Other Leather Good and              ''  ''
                                           Allied Product
                                           Manufacturing.
321213..................................  Engineered Wood Member              321215  Engineered Wood Member
                                           (except Truss)                              Manufacturing
                                           Manufacturing.
321214..................................  Truss Manufacturing.......              ''  ''
322121..................................  Paper (except Newsprint)            322120  Paper Mills.
                                           Mills.
322122..................................  Newsprint Mills...........              ''  ''
325314..................................  Fertilizer (Mixing Only)    325315, 325314  Compost Manufacturing
                                           Manufacturing.                              Fertilizer (Mixing Only)
                                                                                Manufacturing.
333244..................................  Printing Machinery                  333248  All Other Industrial
                                           Equipment Manufacturing.                    Machinery Manufacturing.
333249..................................  Other Industrial Machinery              ''  ''
                                           Manufacturing.
333314..................................  Optical Instrument and              333310  Commercial and Service
                                           Lens Manufacturing.                         Industry Machinery
                                                                                Manufacturing.
333316..................................  Photographic and                        ''  ''
                                           Photocopying Equipment
                                           Manufacturing.
333318..................................  Other Commercial and                    ''  ''
                                           Service Industry
                                           Machinery Manufacturing.
333997..................................  Scale and Balance                   333998  All Other Miscellaneous
                                           Manufacturing.                              General Purpose Machinery
                                                                                Manufacturing.
333999..................................  All Other Miscellaneous                 ''  ''
                                           General Purpose Machinery
                                           Manufacturing.
334613..................................  Blank Magnetic and Optical          334610  Manufacturing and
                                           Recording Media                             Reproducing Magnetic and
                                           Manufacturing.                              Optical Media.
334614..................................  Software and Other                      ''  ''
                                           Prerecorded Compact Disc,
                                           Tape, and Record
                                           Reproducing.
335121..................................  Residential Electric                335131  Residential Electric
                                           Lighting Fixture                            Lighting Fixture
                                           Manufacturing.                              Manufacturing.
335122..................................  Commercial, Industrial,             335132  Commercial, Industrial,
                                           and Institutional                           and Institutional
                                           Electric Lighting Fixture                   Electric Lighting Fixture
                                           Manufacturing.                              Manufacturing.
335110..................................  Electric Lamp Bulb and              335139  Electric Lamp Bulb and
                                           Part Manufacturing.                         Other Lighting Equipment
                                                                                Manufacturing.
335129..................................  Other Lighting Equipment                ''  ''
                                           Manufacturing.
335911..................................  Storage Battery                     335910  Battery Manufacturing.
                                           Manufacturing.
335912..................................  Primary Battery                         ''  ''
                                           Manufacturing.

336111..................................  Automobile Manufacturing..          336110  Automobile and Light Duty
                                                                                Motor Vehicle
                                                                                Manufacturing.
336112..................................  Light Truck and Utility                 ''  ''
                                           Vehicle Manufacturing.
337124..................................  Metal Household Furniture           337126  Household Furniture
                                           Manufacturing.                              (except Wood and
                                                                                Upholstered)
                                                                                Manufacturing.
337125..................................  Household Furniture                     ''  ''
                                           (except Wood and Metal)
                                           Manufacturing.
425110..................................  Business to Business                425120  Wholesale Trade Agents and
                                           Electronic Markets.                         Brokers.
511110..................................  Newspaper Publishers......          513110  Newspaper Publishers.
519130..................................  Internet Publishing and                 ''  ''
                                           Broadcasting and Web
                                           Search Portals--Internet
                                           Newspaper Publishers
                                           activity.
511120..................................  Periodical Publishers.....          513120  Periodical Publishers.
519130..................................  Internet Publishing and                 ''  ''
                                           Broadcasting and Web
                                           Search Portals--Internet
                                           Periodical Publishers
                                           activity.
511130..................................  Book Publishers...........          513130  Book Publishers.
519130..................................  Internet Publishing and                 ''  ''
                                           Broadcasting and Web
                                           Search Portals--Internet
                                           Book Publishers activity.
511140..................................  Directory and Mailing List          513140  Directory and Mailing List
                                           Publishers.                                 Publishers.
519130..................................  Internet Publishing and                 ''  ''
                                           Broadcasting and Web
                                           Search Portals--Internet
                                           Directory and Mailing
                                           List Publishers activity.
511191..................................  Greeting Card Publishers..          513191  Greeting Card Publishers.
519130..................................  Internet Publishing and                 ''  ''
                                           Broadcasting and Web
                                           Search Portals for
                                           Internet Greeting Card
                                           Publishers activity.
511199..................................  All Other Publishers......          513199  All Other Publishers.
519130..................................  Internet Publishing and                 ''  ''
                                           Broadcasting and Web
                                           Search Portals for All
                                           other Internet Publishers
                                           activity.
519130..................................  Internet Publishing and             516210  Media Streaming
                                           Broadcasting and Web                        Distribution Services,
                                           Search Portals--Internet                    Social Networks, and
                                           Broadcasting activity.                      Other Media Networks and
                                                                                Content Providers.
                                                                                This merges both TRI-
                                                                                covered and non-TRI-
                                                                                covered NAICS codes. Only
                                                                                519130: Internet
                                                                                Publishing and
                                                                                Broadcasting and Web
                                                                                Search Portals was
                                                                                covered by TRI. TRI will
                                                                                note that only certain
                                                                                ``Internet Broadcasting''
                                                                                facilities under NAICS
                                                                                code 516210 are required
                                                                                to report.
519130..................................  Internet Publishing and             519290  Web Search Portals and All
                                           Broadcasting and Web                        Other Information
                                           Search Portals--Web                         Services.
                                           Search Portals activity.
                                                                                This merges both TRI-
                                                                                covered and non-TRI-
                                                                                covered NAICS codes. Only
                                                                                519130: Internet
                                                                                Publishing and
                                                                                Broadcasting and Web
                                                                                Search Portals was
                                                                                covered by TRI. TRI will
                                                                                note that only certain
                                                                                ``Web Search Portals''
                                                                                facilities under NAICS
                                                                                code 519290 are required
                                                                                to report.
----------------------------------------------------------------------------------------------------------------

2. Listing of Certain NAICS Codes in the Utilities Industry Sector
    Additionally, facilities included in the following NAICS
manufacturing codes will be listed at 40 CFR 372.23 and will be subject
to TRI reporting requirements (see 40 CFR part 372--[AMENDED]):
221114--Solar Electric Power Generation; 221115--Wind Electric Power
Generation; 221116--Geothermal Electric Power Generation; and 221117--
Biomass Electric Power Generation). In 1997, when EPA added the
electric utility industry sector to the scope of the TRI, the Agency
qualified the addition to include all facilities which ``burn any
quantity of coal or oil to generate power for distribution in
commerce.'' (62 FR 23834, May 1, 1997; FRL-5578-3) (Ref. 3). Further,
the Agency clearly stated that this addition includes any facility
classified under SIC codes 4911, 4931, or 4939 that combusts coal and/
or oil for the purpose of generating power for distribution in
commerce. EPA clearly stated that this coverage includes a facility
that burns ``any quantity'' of coal or oil to generate power for
distribution in commerce, noting examples where a facility might burn
coal or oil for purposes other than distribution in commerce and thus
not fit the qualifier provided for the industry sector. (62 FR 23834,
23863) (Ref. 3).
    The 2007 NAICS to 2012 NAICS revision split NAICS 221119 (a NAICS
code at the time covered by TRI due to its crosswalk to SIC codes 4911,
4931, and 4939) into multiple codes (i.e., 221114, 221115, 221116,
221117, and 221118). When EPA updated the set of 2007 NAICS codes used
by TRI to conform to the 2012 NAICS revision, the Agency listed only
221118, neglecting to include 221114, 221115, 221116, and 221117. (78
FR 42875) (Ref. 2). However, as provided by the 1997 rule that included
electricity generating facilities that combust coal and/or oil for the
purpose of generating power for distribution in commerce, these NAICS
codes should have been included in the

CFR. Further, because the CFR lists SIC codes 4911, 4931, and 4939 as
being regulated by TRI, facilities in NAICS codes 221114, 221115,
221116, and 221117 would be regulated by TRI should they combust coal
and/or oil for the purpose of generating power for distribution in
commerce despite the Agency's oversight in terms of failing to list
these NAICS codes in the CFR. Therefore, facilities identifying with
these NAICS codes (i.e., 221114, 221115, 22116, and 221117) are covered
under TRI reporting regulation and EPA proposes to address its previous
oversight by adding these NAICS codes to 40 CFR 372.23. Similarly, in
the 2006 rule to include NAICS codes in the regulations for TRI, EPA
neglected to include NAICS code 221210. SIC codes 4931 and 4939 are
covered TRI reporting codes (40 CFR 372.23(b), 62 FR 23834). Both of
these SIC codes crosswalk to multiple NAICS codes which are listed on
the CFR, except for 221210. EPA acknowledges it was an oversight not to
include 221210 in the 2006 rule adopting NAICS codes for TRI reporting
(71 FR 32464) (Ref. 1) and proposes to add 221210 to 40 CFR 372.23 for
this NAICS update rule.
    Crosswalk tables between all 2017 NAICS codes and 2022 NAICS codes
can be found on the internet at https://www.census.gov/naics/.
3. Updates to 40 CFR Part 372 To Accommodate EPCRA Section 313(b)(2)
    As authorized under EPCRA section 313(b)(2), the EPA Administrator
may determine that a particular facility is subject to the requirements
of EPCRA section 313(a) on the basis of the toxicity of a chemical, the
facility's proximity to other facilities that release the chemical or
to population centers, the history of releases of the chemical at the
facility, or other factors the Administrator deems appropriate. This
authority has been codified previously in TRI regulations, describing
the process for modifying the list of covered facilities (40 CFR
372.20(b)). EPA is proposing to also codify this discretionary
authority at 40 CFR 372.22, which describes the criteria to determine
whether a facility must report to TRI for a certain calendar year. This
proposed edit is a conforming edit to accommodate the longstanding
discretionary authority under EPCRA section 313(b)(2), and this edit
would not alter the universe of EPCRA section 313 reporters or any TRI
reporting requirements. This additional criteria for facilities
reporting to TRI will be added to 40 CFR 372.22 (see part 372--
[AMENDED]).

E. What are the incremental impacts of this action?

    EPA analyzed the potential costs and benefits associated with this
action and determined that since this action will not add or remove any
reporting requirements, there is no net increase in respondent burden
or other economic impacts to consider.

F. Are there potentially disproportionate impacts for children health?

    EPA interprets Executive Order 13045 (62 FR 19885, April 23, 1997),
as applying only to those regulatory actions that concern health or
safety risks that the EPA has reason to believe may disproportionately
affect children, per the definition of ``covered regulatory action'' in
section 2-202 of the Executive Order. This action is not subject to
Executive Order 13045 because it does not concern an environmental
health risk or safety risk.

II. References

    The following is a listing of the documents that are specifically
referenced in this document. The docket includes these documents and
other information considered by EPA, including documents that are
referenced within the documents that are included in the docket, even
if the referenced document is not physically located in the docket. For
assistance in locating these other documents, please consult the
technical person listed under FOR FURTHER INFORMATION CONTACT.

1. U.S. EPA. Community Right-to-Know; Toxic Chemical Release
Reporting Using North American Industry Classification System
(NAICS); Final Rule. Federal Register. 71 FR 32464, June 6, 2006
(FRL-8180-2).
2. U.S. EPA. Community Right-to-Know; Adoption of 2012 North
American Industry Classification System (NAICS) Codes for Toxics
Release Inventory (TRI) Reporting; Final Rule. Federal Register. 78
FR 42875, July 18, 2013 (FRL-9825-8).
3. U.S. EPA. Addition of Facilities in Certain Industry Sectors;
Revised Interpretation of Otherwise Use; Toxic Release Inventory
Reporting; Community Right-to-Know; Final Rule. Federal Register. 62
FR 23834, May 1, 1997 (FRL-5578-3).

III. Statutory and Executive Order Reviews

    Additional information about these statutes and Executive Orders
can be found at https://www.epa.gov/laws-regulations/laws-and-executive-orders.

A. Executive Order 12866: Regulatory Planning and Review and Executive
Order 13563: Improving Regulation and Regulatory Review

    This action is not a significant regulatory action and was
therefore not submitted to the Office of Management and Budget (OMB)
for review under Executive Order 12866 (58 FR 51735, October 4, 1993)
and Executive Order 13563 (76 FR 3821, January 21, 2011).

B. Paperwork Reduction Act (PRA)

    This action does not impose any new information collection burden
under the PRA, 44 U.S.C. 3501 et seq. Facilities that are affected by
the rule are already required to report their industrial classification
codes on the approved reporting forms under EPCRA section 313 and PPA
section 6607. In addition, OMB has previously approved the information
collection activities involving Form R and Form A as contained in 40
CFR part 372 under OMB Control No. 20070-0212 (EPA ICR No. 2613.04).
    Under the PRA, an agency may not conduct or sponsor, and a person
is not required to respond to, a collection of information, unless it
displays a currently valid OMB control number. The OMB control numbers
are displayed either by publication in the Federal Register or by other
appropriate means, such as on the related collection instrument or
form, if applicable. The display of OMB control numbers for certain EPA
regulations is consolidated in 40 CFR part 9.

C. Regulatory Flexibility Act (RFA)

    I certify that this action will not have a significant economic
impact on a substantial number of small entities under the RFA, 5
U.S.C. 601 et seq. In making this determination, EPA concludes that the
impact of concern for this rule is any significant adverse economic
impact on small entities and that the agency is certifying that this
rule will not have a significant economic impact on a substantial
number of small entities if the rule has no net burden on the small
entities subject to the rule. This proposed rule adds no new reporting
requirements, and there would be no net increase in respondent burden
and costs. This rule would only update the NAICS codes already reported
by respondents. As such, this action will not impose any new
requirements on small entities.

D. Unfunded Mandates Reform Act (UMRA)

    This action does not contain any unfunded mandate as described in
UMRA, 2 U.S.C. 1531-1538, and does

not significantly or uniquely affect small governments. The action
would impose no enforceable duty on any state, local or tribal
governments or the private sector.

E. Executive Order 13132: Federalism

    This action does not have federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999), because it will
not have substantial direct effects on the states, on the relationship
between the national government and the states, or on the distribution
of power and responsibilities among the various levels of government.

F. Executive Order 13175: Consultation and Coordination With Indian
Tribal Governments

    This action does not have tribal implications as specified in
Executive Order 13175 (65 FR 67249, November 9, 2000), because it does
not impose substantial direct compliance costs on Indian tribal
governments. Thus, Executive Order 13175 does not apply to this action.

G. Executive Order 13045: Protection of Children From Environmental
Health Risks and Safety Risks

    EPA interprets Executive Order 13045 (62 FR 19885, April 23, 1997)
as applying only to those regulatory actions that concern health or
safety risks that the EPA has reason to believe may disproportionately
affect children, per the definition of ``covered regulatory action'' in
section 2-202 of the Executive Order. This action is not subject to
Executive Order 13045 because it does not concern an environmental
health risk or safety risk.

H. Executive Order 13211: Actions Concerning Regulations That
Significantly Affect Energy Supply, Distribution, or Use

    This action is not a ``significant energy action'' under Executive
Order 13211 (66 FR 28355, May 22, 2001) because it is not likely to
have a significant adverse effect on the supply, distribution or use of
energy and has not otherwise been designated by the Administrator of
OMB's Office of Information and Regulatory Affairs as a ``significant
energy action.'' This action is not expected to affect energy use,
energy supply or energy prices.

I. National Technology Transfer and Advancement Act (NTTAA)

    This rulemaking does not involve technical standards. As such,
NTTAA section 12(d), 15 U.S.C. 272 note, does not apply to this action.

J. Executive Order 12898: Federal Actions To Address Environmental
Justice in Minority Populations and Low-Income Populations and
Executive Order 14008: Tackling the Climate Crisis at Home and Abroad

    In accordance with Executive Order 12898 (59 FR 7629, February 16,
1994) and Executive Order 14008 (86 FR 7619, January 27, 2021), EPA
finds that this action will not result in disproportionately high and
adverse human health, environmental, climate-related, or other
cumulative impacts on disadvantaged communities because this action
does not establish an environmental health or safety standard.

List of Subjects in 40 CFR Part 372

    Environmental protection, Community right-to-know, Reporting and
recordkeeping requirements, Toxic chemicals.

    Dated: July 13, 2022.
Michal Freedhoff,
Assistant Administrator, Office of Chemical Safety and Pollution
Prevention.
    Therefore, for the reasons set forth in the preamble, it is
proposed that 40 CFR chapter I be amended as follows:

PART 372--TOXIC CHEMICAL RELEASE REPORTING: COMMUNITY RIGHT-TO-KNOW

0
1. The authority citation for part 372 continues to read as follows:

    Authority: 42 U.S.C. 11023 and 11048.

0
2. Amend Sec.  372.22 by revising the introductory paragraph and adding
paragraph (d) to read as follows:

Sec.  372.22  Covered facilities for toxic chemical release reporting.

    A facility is a covered facility for a particular calendar year,
and must report under 40 CFR 372.30, if the facility meets either all
of the criteria in paragraphs (a) through (c), or all of the criteria
in paragraphs (c) and (d), for that calendar year.
* * * * *
    (d) The Administrator determined that applying the 42 U.S.C. 11023
requirements to the facility was warranted, pursuant to 42 U.S.C.
11023(b)(2) and 40 CFR 372.20(b).
0
3. Amend Sec.  372.23 by revising paragraphs (b) and (c) to read as
follows:

Sec.  372.23  SIC and NAICS codes to which this Part applies.

* * * * *
    (b) NAICS codes that correspond to SIC codes 20-39.

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

------------------------------------------------------------------------
311--Food Manufacturing...........  Except 311119--Exception is limited
                                     to facilities previously classified
                                     under SIC 0723, Crop Preparation
                                     Services for Market, Except Cotton
                                     Ginning.
                                    Except 311340--Exception is limited
                                     to facilities previously classified
                                     under SIC 5441, Candy, Nut, and
                                     Confectionery Stores.
                                    Except 311352--Exception is limited
                                     to facilities previously classified
                                     under SIC 5441, Candy, Nut, and
                                     Confectionery Stores.
                                    Except 311611--Exception is limited
                                     to facilities previously classified
                                     under SIC 0751, Livestock Services,
                                     Except Veterinary.
                                    Except 311612--Exception is limited
                                     to facilities previously classified
                                     under SIC 5147, Meats and Meat
                                     Products.
                                    Except 311811--Exception is limited
                                     to facilities previously classified
                                     under SIC 5461, Retail Bakeries.
312--Beverage and Tobacco Product   Except 312112--Exception is limited
 Manufacturing.                      to facilities previously classified
                                     under SIC 5149, Groceries and
                                     Related Products, Not Elsewhere
                                     Classified.
                                    Except 312230--Exception is limited
                                     to facilities previously classified
                                     under SIC 7389, Business Services,
                                     Not Elsewhere Classified, except
                                     facilities primarily engaged in
                                     solvent recovery services on a
                                     contract or fee basis.
313--Textile Mills................  Except 313310--Exception is limited
                                     to facilities previously classified
                                     under SIC 5131, Piece Goods,
                                     Notions, and Other Dry Goods; and
                                     facilities previously classified
                                     under SIC 7389, Business Services,
                                     Not Elsewhere Classified, except
                                     facilities primarily engaged in
                                     solvent recovery services on a
                                     contract or fee basis.
314--Textile Product Mills........  Except 314120--Exception is limited
                                     to facilities previously classified
                                     under SIC 5714, Drapery, Curtain,
                                     and Upholstery Stores.
                                    Except 314999--Exception is limited
                                     to facilities previously classified
                                     under SIC 7389, Business Services,
                                     Not Elsewhere Classified, except
                                     facilities primarily engaged in
                                     solvent recovery services on a
                                     contract or fee basis.

315--Apparel Manufacturing........  Except 315290--Exception is limited
                                     to facilities previously classified
                                     under SIC 5699, Miscellaneous
                                     Apparel and Accessory Stores.
316--Leather and Allied Product     ....................................
 Manufacturing.
321--Wood Product Manufacturing...  ....................................
322--Paper Manufacturing..........  ....................................
323--Printing and Related Support   Except 323111--Exception is limited
 Activities.                         to facilities previously classified
                                     under SIC 7334, Photocopying and
                                     Duplicating Services.
324--Petroleum and Coal Products    ....................................
 Manufacturing.
325--Chemical Manufacturing.......  Except 325998--Exception is limited
                                     to facilities previously classified
                                     under SIC 7389, Business Services,
                                     Not Elsewhere Classified.
326--Plastics and Rubber Products   Except 326212--Exception is limited
 Manufacturing.                      to facilities previously classified
                                     under SIC 7534, Tire Retreading and
                                     Repair Shops.
327--Nonmetallic Mineral Product    Except 327110--Exception is limited
 Manufacturing.                      to facilities previously classified
                                     under SIC 5719, Miscellaneous Home
                                     Furnishings Stores.
331--Primary Metal Manufacturing..  ....................................
332--Fabricated Metal Product       ....................................
 Manufacturing.
333--Machinery Manufacturing
334--Computer and Electronic        Except 334610--Exception is limited
 Product Manufacturing.              to facilities previously classified
                                     under SIC 7372, Prepackaged
                                     Software; and to facilities
                                     previously classified under SIC
                                     7819, Services Allied to Motion
                                     Picture Production.
335--Electrical Equipment,          Except 335312--Exception is limited
 Appliance, and Component            to facilities previously classified
 Manufacturing.                      under SIC 7694, Armature Rewinding
                                     Shops.
336--Transportation Equipment       ....................................
 Manufacturing.
337--Furniture and Related Product  Except 337110--Exception is limited
 Manufacturing.                      to facilities previously classified
                                     under SIC 5712, Furniture Stores.
                                    Except 337121--Exception is limited
                                     to facilities previously classified
                                     under SIC 5712, Furniture Stores.
                                    Except 337122--Exception is limited
                                     to facilities previously classified
                                     under SIC 5712, Furniture Stores.
339--Miscellaneous Manufacturing..  Except 339113--Exception is limited
                                     to facilities previously classified
                                     under SIC 5999, Miscellaneous
                                     Retail Stores, Not Elsewhere
                                     Classified.
                                    Except 339115--Exception is limited
                                     to lens grinding facilities
                                     previously classified under SIC
                                     5995, Optical Goods Stores.
                                    Except 339116--Exception is limited
                                     to facilities previously classified
                                     under SIC 8072, Dental
                                     Laboratories.
111998--All Other Miscellaneous     Limited to facilities previously
 Crop Farming.                       classified under SIC 2099, Food
                                     Preparations, Not Elsewhere
                                     Classified.
113310--Logging
211130--Natural Gas Extraction....  Limited to facilities that recover
                                     sulfur from natural gas and
                                     previously classified under SIC
                                     2819, Industrial Inorganic
                                     Chemicals, Not Elsewhere
                                     Classified.
212323--Kaolin, Clay, and Ceramic   Limited to facilities operating
 and Refractory Minerals Mining.     without a mine or quarry and
                                     previously classified under SIC
                                     3295, Minerals and Earths, Ground
                                     or Otherwise Treated.
212390--Other Nonmetallic Mineral   Limited to facilities previously
 Mining and Quarrying.               classified under SIC 3295, Minerals
                                     and Earths, Ground or Otherwise
                                     Treated.
488390--Other Support Activities    Limited to facilities previously
 for Water Transportation.           classified under SIC 3731,
                                     Shipbuilding and Repairing.
512230--Music Publishers..........  Except facilities previously
                                     classified under SIC 8999,
                                     Services, Not Elsewhere Classified.
512250--Record Production and       Limited to facilities previously
 Distribution.                       classified under SIC 3652,
                                     Phonograph Records and Prerecorded
                                     Audio Tapes and Disks.
5131--Publishing Industries.......  Except for facilities primarily
                                     engaged in web search portals and
                                     except for facilities previously
                                     classified under SIC 7331, Direct
                                     Mail Advertising Services and SIC
                                     8999, Services Not Elsewhere
                                     Classified.
516210--Media Streaming             Limited to Internet publishing
 Distribution Services, Social       facilities previously classified
 Networks, and Other Media           under SIC 2711, Newspapers:
 Networks and Content Providers.     Publishing, or Publishing and
                                     Printing; facilities previously
                                     classified under SIC 2721,
                                     Periodicals: Publishing, or
                                     Publishing and Printing; facilities
                                     previously classified under SIC
                                     2731, Books: Publishing, or
                                     Publishing and Printing; facilities
                                     previously classified under SIC
                                     2741, Miscellaneous Publishing;
                                     facilities previously classified
                                     under SIC 2771, Greeting Cards;
                                     Except for facilities primarily
                                     engaged in web search portals.
519290--Web Search Portals and All  Limited to Internet publishing
 Other Information Services.         facilities previously classified
                                     under SIC 2711, Newspapers:
                                     Publishing, or Publishing and
                                     Printing; facilities previously
                                     classified under SIC 2721,
                                     Periodicals: Publishing, or
                                     Publishing and Printing; facilities
                                     previously classified under SIC
                                     2731, Books: Publishing, or
                                     Publishing and Printing; facilities
                                     previously classified under SIC
                                     2741, Miscellaneous Publishing;
                                     facilities previously classified
                                     under SIC 2771, Greeting Cards;
                                     Except for facilities primarily
                                     engaged in web search portals.
541713--Research and Development    Limited to facilities previously
 in Nanotechnology.                  classified under SIC 3764, Guided
                                     Missile and Space Vehicle
                                     Propulsion Units and Propulsion
                                     Unit Parts; and facilities
                                     previously classified under SIC
                                     3769, Guided Missile and Space
                                     Vehicle Parts and Auxiliary
                                     Equipment, Not Elsewhere
                                     Classified.
541715--Research and Development    Limited to facilities previously
 in the Physical, Engineering, and   classified under SIC 3764, Guided
 Life Sciences (except               Missile and Space Vehicle
 Nanotechnology and Biotechnology).  Propulsion Units and Propulsion
                                     Unit Parts; and facilities
                                     previously classified under SIC
                                     3769, Guided Missile and Space
                                     Vehicle Parts and Auxiliary
                                     Equipment, Not Elsewhere
                                     Classified.
811490--Other Personal and          Limited to facilities previously
 Household Goods Repair and          classified under SIC 3732, Boat
 Maintenance.                        Building and Repairing.
------------------------------------------------------------------------

    (c) NAICS codes that correspond to SIC codes other than SIC codes
20-39.

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

------------------------------------------------------------------------
211130--Natural Gas Extraction....  Limited to facilities classified
                                     under SIC 1321, Natural Gas
                                     Liquids.
212114--Surface Coal Mining.......
212115--Underground Coal Mining...  ....................................
212220--Gold Ore and Silver Ore     ....................................
 Mining.
212230--Copper, Nickel, Lead and    ....................................
 Zinc Mining.
212290--Other Metal Ore Mining....  Limited to facilities previously
                                     classified under SIC 1061,
                                     Ferroalloy Ores, Except Vanadium
                                     (nickel); and facilities previously
                                     classified under SIC 1099,
                                     Miscellaneous Metal Ores, Not
                                     Elsewhere Classified.
221111--Hydroelectric Power         Limited to facilities that combust
 Generation.                         coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221112--Fossil Fuel Electric Power  Limited to facilities that combust
 Generation.                         coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221113--Nuclear Electric Power      Limited to facilities that combust
 Generation.                         coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221114--Solar Electric Power        Limited to facilities that combust
 Generation.                         coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221115--Wind Electric Power         Limited to facilities that combust
 Generation.                         coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221116--Geothermal Electric Power   Limited to facilities that combust
 Generation.                         coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221117--Biomass Electric Power      Limited to facilities that combust
 Generation.                         coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221118--Other Electric Power        Limited to facilities that combust
 Generation.                         coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221121--Electric Bulk Power         Limited to facilities that combust
 Transmission and Control.           coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221122--Electric Power              Limited to facilities that combust
 Distribution.                       coal and/or oil for the purpose of
                                     generating power for distribution
                                     in commerce.
221210--Natural Gas Distribution..  Limited to facilities previously
                                     classified under SIC 4931, Electric
                                     and Other Services Combined and
                                     facilities previously classified
                                     under SIC 4939, Combination
                                     Utilities, Not Elsewhere
                                     Classified.
221330--Steam and Air Conditioning  Limited to facilities previously
 Supply.                             classified under SIC 4939,
                                     Combination Utilities, Not
                                     Elsewhere Classified.
424690--Other Chemical and Allied   ....................................
 Products Merchant Wholesalers.
424710--Petroleum Bulk Stations     ....................................
 and Terminals.
425120--Wholesale Trade Agents and  Limited to facilities previously
 Brokers.                            classified in SIC 5169, Chemicals
                                     and Allied Products, Not Elsewhere
                                     Classified.
562112--Hazardous Waste Collection  Limited to facilities primarily
                                     engaged in solvent recovery
                                     services on a contract or fee basis
                                     and previously classified under SIC
                                     7389, Business Services, Not
                                     Elsewhere Classified;
562211--Hazardous Waste Treatment   Limited to facilities regulated
 and Disposal.                       under the Resource Conservation and
                                     Recovery Act, subtitle C, 42 U.S.C.
                                     6921 et seq.
562212--Solid Waste Landfill......  Limited to facilities regulated
                                     under the Resource Conservation and
                                     Recovery Act, subtitle C, 42 U.S.C.
                                     6921 et seq.
562213--Solid Waste Combustors and  Limited to facilities regulated
 Incinerators.                       under the Resource Conservation and
                                     Recovery Act, subtitle C, 42 U.S.C.
                                     6921 et seq.
562219--Other Nonhazardous Waste    Limited to facilities regulated
 Treatment and Disposal.             under the Resource Conservation and
                                     Recovery Act, subtitle C, 42 U.S.C.
                                     6921 et seq.
562920--Materials Recovery          Limited to facilities regulated
 Facilities.                         under the Resource Conservation and
                                     Recovery Act, subtitle C, 42 U.S.C.
                                     6921 et seq.
------------------------------------------------------------------------

* * * * *
[FR Doc. 2022-15287 Filed 7-21-22; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 88, Number 191 (Wednesday, October 4, 2023)]
[Notices]
[Pages 68849-68851]
[FR Doc No: 2023-21968]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-98613; File No. SR-CboeBZX-2023-038]

Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order
Instituting Proceedings To Determine Whether To Approve or Disapprove a
Proposed Rule Change, as Modified by Amendment No. 1, To List and Trade
Shares of the Invesco Galaxy Bitcoin ETF Under BZX Rule 14.11(e)(4),
Commodity-Based Trust Shares

September 28, 2023.
    On June 30, 2023, Cboe BZX Exchange, Inc. (``BZX'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4 thereunder,\2\ a proposed rule change to
list and trade shares (``Shares'') of the Invesco Galaxy Bitcoin ETF
(``Trust'') under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares.
On July 11, 2023, the Exchange filed Amendment No. 1 to the proposed
rule change, which amended and replaced the proposed rule change in its
entirety. The proposed rule change, as modified by Amendment No. 1, was
published for comment in the Federal Register on July 19, 2023.\3\
---------------------------------------------------------------------------

    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 97900 (July 13,
2023), 88 FR 46235 (``Notice''). Comments on the proposed rule
change are available at: https://www.sec.gov/comments/sr-cboebzx-2023-038/srcboebzx2023038.htm.
---------------------------------------------------------------------------

    On August 31, 2023, pursuant to Section 19(b)(2) of the Act,\4\ the
Commission designated a longer period within which to approve the
proposed rule change, disapprove the proposed rule change, or institute
proceedings to determine whether to disapprove the proposed rule
change, as modified by Amendment No. 1.\5\ This order institutes
proceedings under Section

19(b)(2)(B) of the Act \6\ to determine whether to approve or
disapprove the proposed rule change, as modified by Amendment No. 1.
---------------------------------------------------------------------------

    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 98266, 88 FR 61658
(Sept. 7, 2023). The Commission designated October 17, 2023, as the
date by which the Commission shall approve or disapprove, or
institute proceedings to determine whether to disapprove, the
proposed rule change.
    \6\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

I. Summary of the Proposal, as Modified by Amendment No. 1

    As described in more detail in the Notice,\7\ the Exchange proposes
to list and trade the Shares of the Trust under BZX Rule 14.11(e)(4),
which governs the listing and trading of Commodity-Based Trust Shares
on the Exchange.
---------------------------------------------------------------------------

    \7\ See Notice, supra note 3.
---------------------------------------------------------------------------

    The investment objective of the Trust is to reflect the performance
of the Bloomberg Galaxy Bitcoin Index (``Index''), less the Trust's
expenses and other liabilities.\8\ In seeking to achieve its investment
objective, the Trust will hold bitcoin.\9\ The administrator of the
Trust will determine the net asset value (``NAV'') of the Trust on each
day that the Exchange is open for regular trading, as promptly as
practical after 4:00 p.m. ET.\10\ In determining the Trust's NAV, the
administrator will value the bitcoin held by the Trust based on the
price set by the Index as of 4:00 p.m. ET.\11\ When the Trust sells or
redeems its Shares, it will do so in ``in-kind'' transactions with
authorized participants in large blocks of Shares.\12\
---------------------------------------------------------------------------

    \8\ See id. at 46244. Invesco Capital Management LLC
(``Sponsor'') is the sponsor of the Trust.
    \9\ See id.
    \10\ See id. at 46245.
    \11\ See id.
    \12\ See id. at 46244.
---------------------------------------------------------------------------

II. Proceedings To Determine Whether To Approve or Disapprove SR-
CboeBZX-2023-038 and Grounds for Disapproval Under Consideration

    The Commission is instituting proceedings pursuant to Section
19(b)(2)(B) of the Act \13\ to determine whether the proposed rule
change should be approved or disapproved. Institution of proceedings is
appropriate at this time in view of the legal and policy issues raised
by the proposed rule change, as discussed below. Institution of
proceedings does not indicate that the Commission has reached any
conclusions with respect to any of the issues involved. Rather, as
described below, the Commission seeks and encourages interested persons
to provide comments on the proposed rule change.
---------------------------------------------------------------------------

    \13\ 15 U.S.C. 78s(b)(2)(B).
---------------------------------------------------------------------------

    Pursuant to Section 19(b)(2)(B) of the Act,\14\ the Commission is
providing notice of the grounds for disapproval under consideration.
The Commission is instituting proceedings to allow for additional
analysis of the proposed rule change's consistency with Section 6(b)(5)
of the Act, which requires, among other things, that the rules of a
national securities exchange be ``designed to prevent fraudulent and
manipulative acts and practices'' and ``to protect investors and the
public interest.'' \15\
---------------------------------------------------------------------------

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

    The Commission asks that commenters address the sufficiency of the
Exchange's statements in support of the proposal, which are set forth
in the Notice, in addition to any other comments they may wish to
submit about the proposed rule change. In particular, the Commission
seeks comment on the following questions and asks commenters to submit
data where appropriate to support their views:
    1. What are commenters' views on whether the proposed Trust and
Shares would be susceptible to manipulation? What are commenters' views
generally on whether the Exchange's proposal is designed to prevent
fraudulent and manipulative acts and practices? What are commenters'
views generally with respect to the liquidity and transparency of the
bitcoin markets and the bitcoin markets' susceptibility to
manipulation?
    2. Based on data and analysis provided and the academic research
cited by the Exchange,\16\ do commenters agree with the Exchange that
the Chicago Mercantile Exchange (``CME''), on which CME bitcoin futures
trade, represents a regulated market of significant size related to
spot bitcoin? \17\ What are commenters' views on whether there is a
reasonable likelihood that a person attempting to manipulate the Shares
would also have to trade on the CME to manipulate the Shares? \18\ Do
commenters agree with the Exchange that trading in the Shares would not
be the predominant influence on prices in the CME bitcoin futures
market? \19\
---------------------------------------------------------------------------

    \16\ See Notice, 88 FR at 46240-43.
    \17\ See id. at 46242.
    \18\ See id. at 46242-43.
    \19\ See id. at 46243.
---------------------------------------------------------------------------

    3. The Exchange states that bitcoin is resistant to price
manipulation and that other means to prevent fraudulent and
manipulative acts and practices ``exist to justify dispensing with the
requisite surveillance sharing agreement'' with a regulated market of
significant size related to spot bitcoin.\20\ In support, the Exchange
states, among other things, that the geographically diverse and
continuous nature of bitcoin trading make it difficult and
prohibitively costly to manipulate the price of bitcoin, and that the
fragmentation across bitcoin platforms, the relatively slow speed of
transactions, and the capital necessary to maintain a significant
presence on each trading platform make manipulation of bitcoin prices
through continuous trading activity challenging.\21\ The Exchange also
states that offering only in-kind creations and redemptions provides
``unique protections against potential attempts to manipulate the price
of the Shares'' and that the price the Sponsor uses to value the
Trust's bitcoin ``is not particularly important.'' \22\ Do commenters
agree with the Exchange's statements regarding the bitcoin market's
resistance to price manipulation?
---------------------------------------------------------------------------

    \20\ See id. at 46242 n.49.
    \21\ See id.
    \22\ See id. at 46243.
---------------------------------------------------------------------------

    4. The Exchange also states that it will execute a surveillance-
sharing agreement with Coinbase, Inc. (``Coinbase'') that is intended
to supplement the Exchange's market surveillance program.\23\ According
to the Exchange, the agreement is ``expected to have the hallmarks of a
surveillance-sharing agreement between two members of the [Intermarket
Surveillance Group], which would give the Exchange supplemental access
to data regarding spot [b]itcoin trades on Coinbase where the Exchange
determines it is necessary as part of its surveillance program for the
Commodity-Based Trust Shares.'' \24\ Based on the description of the
surveillance-sharing agreement as provided by the Exchange, what are
commenters' views of such an agreement if finalized and executed? Do
commenters agree with the Exchange that such an agreement with Coinbase
would be ``helpful in detecting, investigating, and deterring fraud and
manipulation in the Commodity-Based Trust Shares''? \25\
---------------------------------------------------------------------------

    \23\ See id.
    \24\ See id. The Exchange states that ``[t]his means that the
Exchange expects to receive market data for orders and trades from
Coinbase, which it will utilize in surveillance of the trading of
Commodity-Based Trust Shares.'' Id.
    \25\ See id.
---------------------------------------------------------------------------

    5. Some sponsors of proposed spot bitcoin exchange-traded products
have also provided data regarding the correlation between certain
bitcoin spot markets and the CME bitcoin futures market.\26\ What are
commenters' views

on the correlation between the bitcoin spot market and the CME bitcoin
futures market? What are commenters' views on the extent to which that
correlation provides evidence that the CME bitcoin futures market is
``significant'' related to spot bitcoin?
---------------------------------------------------------------------------

    \26\ See, e.g. Notice of Filing of Amendment No. 3 to, and Order
Instituting Proceedings to Determine Whether to Approve or
Disapprove, a Proposed Rule Change to List and Trade Shares of the
ARK 21Shares Bitcoin ETF under BZX Rule 14.11(e)(4), Commodity-Based
Trust Shares, Securities Exchange Act Release No. 98112 (Aug. 11,
2023), 88 FR 55743 (Aug. 16, 2023) (including data from sponsor
21Shares US LLC that purports to show correlations of returns across
the two-year period from January 20, 2021, to February 1, 2023, of
no less than 92% among certain spot bitcoin platforms and between
the CME bitcoin futures market and such spot bitcoin platforms on an
hourly basis, and no less than 78% on a minutely basis).
---------------------------------------------------------------------------

III. Procedure: Request for Written Comments

    The Commission requests that interested persons provide written
submissions of their views, data, and arguments with respect to the
issues identified above, as well as any other concerns they may have
with the proposal. In particular, the Commission invites the written
views of interested persons concerning whether the proposal is
consistent with Section 6(b)(5) or any other provision of the Act, and
the rules and regulations thereunder. Although there do not appear to
be any issues relevant to approval or disapproval that would be
facilitated by an oral presentation of views, data, and arguments, the
Commission will consider, pursuant to Rule 19b-4, any request for an
opportunity to make an oral presentation.\27\
---------------------------------------------------------------------------

    \27\ Section 19(b)(2) of the Act, as amended by the Securities
Acts Amendments of 1975, Pub. L. 94-29 (June 4, 1975), grants the
Commission flexibility to determine what type of proceeding--either
oral or notice and opportunity for written comments--is appropriate
for consideration of a particular proposal by a self-regulatory
organization. See Securities Acts Amendments of 1975, Senate Comm.
on Banking, Housing & Urban Affairs, S. Rep. No. 75, 94th Cong., 1st
Sess. 30 (1975).
---------------------------------------------------------------------------

    Interested persons are invited to submit written data, views, and
arguments regarding whether the proposed rule change should be approved
or disapproved by October 25, 2023. Any person who wishes to file a
rebuttal to any other person's submission must file that rebuttal by
November 8, 2023.
    Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's internet comment form (https://www.sec.gov/rules/sro.shtml); or
     Send an email to [email protected]. Please include
file number SR-CboeBZX-2023-038 on the subject line.

Paper Comments

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

All submissions should refer to file number SR-CboeBZX-2023-038. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's internet website (https://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for website viewing and
printing in the Commission's Public Reference Room, 100 F Street NE,
Washington, DC 20549, on official business days between the hours of 10
a.m. and 3 p.m. Copies of the filing also will be available for
inspection and copying at the principal office of the Exchange. Do not
include personal identifiable information in submissions; you should
submit only information that you wish to make available publicly. We
may redact in part or withhold entirely from publication submitted
material that is obscene or subject to copyright protection. All
submissions should refer to file number SR-CboeBZX-2023-038 and should
be submitted on or before October 25, 2023. Rebuttal comments should be
submitted by November 8, 2023.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\28\
---------------------------------------------------------------------------

    \28\ 17 CFR 200.30-3(a)(57).
---------------------------------------------------------------------------

Sherry R. Haywood,
Assistant Secretary.
[FR Doc. 2023-21968 Filed 10-3-23; 8:45 am]
BILLING CODE 8011-01-P


[Federal Register: November 27, 2006 (Volume 71, Number 227)]
[Notices]
[Page 68600-68601]
[DOCID:fr27no06-93]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Priest Rapids Hydroelectric Project; Notice of Availability of
the Final Environmental Impact Statement for the Priest Rapids Project

November 17, 2006.
    In accordance with the National Environmental Policy Act of 1969
and the Federal Energy Regulatory Commission (Commission or FERC)
regulations contained in the Code of Federal Regulations (CFR) (18 CFR
Part 380 [FERC Order No. 486, 52 FR 47897]), the Office of Energy
Projects staff (staff) has reviewed the application for a New Major
License for the Priest Rapids Project (FERC No. 2114-116), located on
the Columbia River in Grant, Yakima, Kittitas, Douglas, Benton, and
Chelan Counties, Washington, and has prepared a Final Environmental
Impact Statement (final EIS) for the project. The project occupies
about 3,104 acres of federal lands managed by the U.S.: Bureau of Land
Management, Bureau of Reclamation, Department of Energy, Department of
the Army, and Fish and Wildlife Service.
    The final EIS contains staff's analysis of the applicant's proposal
and the alternatives for relicensing the Priest Rapids Project. The
final EIS documents the views of the Commission staff and of government
agencies, non-government organizations, affected Indian tribes, the
public, and the license applicant.
    A copy of the final EIS is available for review in the Commission
Public Reference Branch, Room 2A, located at 888 First Street, NE.,
Washington, DC 20426. The final EIS may also be viewed on the
Commission's website at http://www.ferc.gov under the eLibrary link.

Enter docket number excluding the last three digits in the docket
number field to access the document. For assistance, contact FERC
Online Support at<EMAIL_ADDRESS>or toll-free at 1-866-208-
3676, or for TTY,<PHONE_NUMBER>.
    You may also register online at http://www.ferc.gov/docs-filing/esubscription.asp
 to be notified via email of new filings and issuances

related to this or other pending projects.

For assistance, contact FERC Online Support. For further information,
please contact Kim A. Nguyen at<PHONE_NUMBER> or at
<EMAIL_ADDRESS>

Magalie R. Salas,
Secretary.
 [FR Doc. E6-19947 Filed 11-24-06; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register: March 17, 2010 (Volume 75, Number 51)]
[Rules and Regulations]
[Page 12686-12688]
[DOCID:fr17mr10-16]

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DEPARTMENT OF HOMELAND SECURITY

Coast Guard

33 CFR Part 117

[Docket No. USCG-2009-0839]
RIN 1625-AA09

Drawbridge Operation Regulation; Bullards Ferry Bridge, Coquille
River, Bandon, OR

AGENCY: Coast Guard, DHS.

ACTION: Temporary rule.

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SUMMARY: The Coast Guard is temporarily changing the drawbridge
operation regulation for the U.S. Highway 101 Bullards Ferry Bridge
that crosses over the Coquille River at mile 3.5 near Bandon, Oregon so
that the vertical lift span will not need to open for ten months while
the bridge is being painted. The rule is necessary to ensure that the
painting operation will not be disrupted by bridge openings. The bridge
has not had to be opened for a vessel in seven years.

DATES: This temporary final rule is effective from May 1, 2010 until on
March 1, 2011.

ADDRESSES: Comments and related materials received from the public, as
well as documents mentioned in this preamble as being available in the
docket, are part of docket USCG-2009-0839 and are available online by
going to http://www.regulations.gov, inserting USCG-2009-0839 in the
``Keyword'' box, and then clicking ``Search.'' This material is also
available for inspection or copying at the Docket Management Facility
(M-30), U.S. Department of Transportation, West Building Ground Floor,
Room W12-140, 1200 New Jersey Avenue, SE., Washington, DC 20590,
between 9 a.m. and 5 p.m., Monday through Friday, except Federal
holidays.

FOR FURTHER INFORMATION CONTACT: If you have questions on this
temporary rule, call or email Austin Pratt, Chief, Bridge Section,
Waterways Management Branch, Thirteenth Coast Guard District; telephone
206-220-7282, e-mail<EMAIL_ADDRESS>If you have questions on
viewing the docket, call Renee V. Wright, Program Manager, Docket
Operations, telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Regulatory Information

    On December 10, 2009, we published a notice of proposed rulemaking
(NPRM) entitled Drawbridge Operation Regulation; Bullards Ferry Bridge,
Bandon, OR, in the Federal Register (74

FR 65497). We received no comments on the proposed rule. No public
meeting was requested, and none was held.

Background and Purpose

    The temporary rule enables the Oregon Department of Transportation
to install debris containment on the U.S. Highway 101 Bullards Ferry
Bridge that crosses over the Coquille River at mile 3.5 near Bandon,
Oregon, including the vertical lift towers, while it is being painted.
By keeping the drawspan closed, no part of this containment system
would need to be dismantled during the painting operation. This would
also affect the design of the containment.
    Normally, the Coast Guard does not authorize closures of this
duration. However, the vertical lift span of this bridge has not been
requested to open for a vessel in more than seven years. The
recreational boating traffic that plies the Coquille River is able to
pass under the lift span in its closed position. The span provides
approximately 28 feet of clearance at high water and 35 feet at low.
When open the draw span can provide more than 45 additional feet of
clearance.
    The operating regulations currently in effect for the bridge are
found at 33 CFR 117.875. The regulation requires that at least two
hours notice be given for all openings.

Discussion of Comments and Changes

    No comments on this temporary rule were received and no changes
were made to the rule as proposed in the NPRM.

Regulatory Analyses

    We developed this rule after considering numerous statutes and
executive orders related to rulemaking. Below we summarize our analyses
based on 13 of these statutes or excutive orders.

Regulatory Planning and Review

    This rule is not a significant regulatory action under section 3(f)
of Executive Order 12866, Regulatory Planning and Review, and does not
require an assessment of potential costs and benefits under section
6(a)(3) of that Order. The Office of Management and Budget has not
reviewed it under that Order. The Coast Guard has made this finding
based on the fact that the rule will have no known impact on the
maritime public.

Small Entities

    Under the Regulatory Flexibility Act (5 U.S.C. 601-612), we have
considered whether this rule would have a significant economic impact
on a substantial number of small entities. The term ``small entities''
comprises small businesses, not-for-profit organizations that are
independently owned and operated and are not dominant in their fields,
and governmental jurisdictions with populations of less than 50,000.
    The Coast Guard certifies under 5 U.S.C. 605(b) that this proposed
rule would not have a significant economic impact on a substantial
number of small entities because it will have no known impact on any
vessel traffic.

Assistance for Small Entities

    Under section 213(a) of the Small Business Regulatory Enforcement
Fairness Act of 1996 (Pub. L. 104-121), we offered to assist small
entities in understanding the rule so that they could better evaluate
its effects on them and participate in the rulemaking process.
    Small businesses may send comments on the actions of Federal
employees who enforce, or otherwise determine compliance with, Federal
regulations to the Small Business and Agriculture Regulatory
Enforcement Ombudsman and the Regional Small Business Regulatory
Fairness Boards. The Ombudsman evaluates these actions annually and
rates each agency's responsiveness to small business. If you wish to
comment on actions by employees of the Coast Guard, call 1-888-REG-FAIR
(1-888-734-3247). The Coast Guard will not retaliate against small
entities that question or complain about this rule or any policy or
action of the Coast Guard.

Collection of Information

    This rule calls for no new collection of information under the
Paperwork Reduction Act of 1995 (44 U.S.C. 3501-3520.).

Federalism

    A rule has implications for federalism under Executive Order 13132,
Federalism, if it has a substantial direct effect on State or local
governments and would either preempt State law or impose a substantial
direct cost of compliance on them. We have analyzed this rule under
that Order and have determined that it does not have implications for
federalism.

Unfunded Mandates Reform Act

    The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531-1538)
requires Federal agencies to assess the effects of their discretionary
regulatory actions. In particular, the Act addresses actions that may
result in the expenditure by a State, local, or tribal government, in
the aggregate, or by the private sector of $100,000,000 or more in any
one year. Though this rule will not result in such an expenditure, we
do discuss the effects of this rule elsewhere in this preamble.

Taking of Private Property

    This rule would not effect a taking of private property or
otherwise have taking implications under Executive Order 12630,
Governmental Actions and Interference with Constitutionally Protected
Property Rights.

Civil Justice Reform

    This rule meets applicable standards in sections 3(a) and 3(b)(2)
of Executive Order 12988, Civil Justice Reform, to minimize litigation,
eliminate ambiguity, and reduce burden.

Protection of Children

    We have analyzed this rule under Executive Order 13045, Protection
of Children from Environmental Health Risks and Safety Risks. This rule
is not an economically significant rule and would not create an
environmental risk to health or risk to safety that might
disproportionately affect children.

Indian Tribal Governments

    This rule does not have tribal implications under Executive Order
13175, Consultation and Coordination with Indian Tribal Governments,
because it would not have a substantial direct effect on one or more
Indian tribes, on the relationship between the Federal Government and
Indian tribes, or on the distribution of power and responsibilities
between the Federal Government and Indian tribes.

Energy Effects

    We have analyzed this rule under Executive Order 13211, Actions
Concerning Regulations That Significantly Affect Energy Supply,
Distribution, or Use. We have determined that it is not a significant
energy action under that order because it is not a significant
regulatory action under Executive Order 12866 and is not likely to have
a significant adverse effect on the supply, distribution, or use of
energy. The Administrator of Information and Regulatory Affairs has not
designated this as a significant energy action. Therefore, it does not
require a Statement of Energy Effects under Executive Order 13211.

Technical Standards

    The National Technology Transfer and Advancement Act (NTTAA) (15
U.S.C. 272 note) directs agencies to use

voluntary consensus standards in their regulatory activities unless the
agency provides Congress, through the Office of Management and Budget,
with an explanation of why using these standards would be inconsistent
with applicable law or otherwise impractical. Voluntary consensus
standards are technical standards (e.g., specifications of materials,
performance, design, or operation; test methods; sampling procedures;
and related management systems practices) that are developed or adopted
by voluntary consensus standards bodies.
    This rule does not use technical standards. Therefore, we did not
consider the use of voluntary consensus standards.

Environment

    We have analyzed this rule under Department of Homeland Security
Management Directive 023-01, and Commandant Instruction M16475.lD,
which guides the Coast Guard in complying with the National
Environmental Policy Act of 1969 (NEPA) (42 U.S.C. 4321-4370f), and
have concluded that this action is one of a category of actions which
do not individually or cumulatively have a significant effect on the
human environment. This rule is categorically excluded under figure 2-
1, paragraph (32)(e), of the Instruction.
    Under figure 2-1, paragraph (32)(e), of the Instruction, an
environmental analysis checklist and a categorical exclusion
determination are not required for this rule.

List of Subjects in 33 CFR Part 117

    Bridges.

0
For the reasons discussed in the preamble, the Coast Guard amends 33
CFR part 117 as follows:

PART 117--DRAWBRIDGE OPERATION REGULATIONS

0
1. The authority citation for part 117 continues to read as follows:

    Authority:  33 U.S.C. 499; 33 CFR 1.05-1; Department of Homeland
Security Delegation No. 0170.1.

0
2. From May 1, 2010 to March 1, 2011, temporarily suspend Sec.  117.875
and temporarily add Sec.  117.876T to read as follows:

Sec.  117.876T  Coquille River.

    The draws of the U.S. 101 highway bridge, mile 3.5 at Bandon,
Oregon, need not open for the passage of vessels from May 1, 2010 to
March 1, 2011.

    Dated: March 2, 2010.
G.T. Blore,
Rear Admiral, U.S. Coast Guard, Commander, Thirteenth Coast Guard
District.
[FR Doc. 2010-5761 Filed 3-16-10; 8:45 am]
BILLING CODE 9110-04-P


[Federal Register: May 17, 2010 (Volume 75, Number 94)]
[Notices]
[Page 27601]
[DOCID:fr17my10-99]

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SECURITIES AND EXCHANGE COMMISSION

[Rule 15a-6; SEC File No. 270-0329; OMB Control No. 3235-0371]

Proposed Collection; Comment Request

Upon Written Request, Copies Available From: Securities and Exchange
Commission, Office of Investor Education and Advocacy, Washington, DC
20549-0213.

Extension:
    Rule 15a-6; SEC File No. 270-0329; OMB Control No. 3235-0371.

    Notice is hereby given that pursuant to the Paperwork Reduction Act
of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the existing
collection of information summarized below. The Commission plans to
submit this existing collection of information to the Office of
Management and Budget for extension and approval.
    Rule 15a-6 (17 CFR 240.15a-6) under the Securities Exchange Act of
1934 (15 U.S.C. 78a et seq.) provides, among other things, an exemption
from broker-dealer registration for foreign broker-dealers that effect
trades with or for U.S. institutional investors through a U.S.
registered broker-dealer, provided that the U.S. broker-dealer obtains
certain information about, and consents to service of process from, the
personnel of the foreign broker-dealer involved in such transactions,
and maintains certain records in connection therewith.
    These requirements are intended to ensure (a) that the U.S. broker-
dealer will receive notice of the identity of, and has reviewed the
background of, foreign personnel who will contact U.S. institutional
investors, (b) that the foreign broker-dealer and its personnel
effectively may be served with process in the event enforcement action
is necessary, and (c) that the Commission has ready access to
information concerning these persons and their U.S. securities
activities.
    It is estimated that approximately 2,000 respondents will incur an
average burden of three hours per year to comply with this rule, for a
total burden of 6,000 hours. At an average cost per hour of
approximately $105, the resultant total cost of compliance for the
respondents is $600,000 per year (2,000 entities x 3 hours/entity x
$105/hour = $630,000).
    Written comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Commission, including whether the information will
have practical utility; (b) the accuracy of the Commission's estimate
of the burden of the proposed collection of information; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology.
Consideration will be given to comments and suggestions submitted in
writing within 60 days of this publication.
    Direct your written comments to Charles Boucher, Director/Chief
Information Officer, Securities and Exchange Commission, c/o Shirley
Martinson, 6432 General Green Way, Alexandria, VA 22312 or send an e-
mail to<EMAIL_ADDRESS>
    Dated: May 10, 2010.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2010-11658 Filed 5-14-10; 8:45 am]
BILLING CODE 8010-01-P