[Federal Register Volume 80, Number 86 (Tuesday, May 5, 2015)]
[Notices]
[Pages 25723-25727]
[FR Doc No: 2015-10412]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-74842; File No. SR-NYSEArca-2014-89]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of Amendments Nos. 1 and 2 and Order Granting Accelerated Approval of a
Proposed Rule Change, as Modified by Amendments Nos. 1 and 2, To List
and Trade Shares of Eight PIMCO Exchange-Traded Funds

April 29, 2015.

I. Introduction

    On August 15, 2014, NYSE Arca, Inc. (``NYSEArca'' or ``Exchange'')
filed with the Securities and Exchange Commission (``Commission''),
pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'' or ``Exchange Act'') \1\ and Rule 19b-4 thereunder,\2\ a
proposed rule change to list and trade shares (``Shares'') of the
following eight PIMCO exchange-traded funds, pursuant to NYSE Arca
Equities Rule 8.600: PIMCO StocksPLUS[supreg] Absolute Return Exchange-
Traded Fund (``StocksPLUS AR Fund''), PIMCO Small Cap
StocksPLUS[supreg] AR Strategy Exchange-Traded Fund (``Small Cap
StocksPLUS AR Fund''), PIMCO Fundamental IndexPLUS[supreg] AR Exchange-
Traded Fund (``Fundamental IndexPLUS Fund''), PIMCO Small Company
Fundamental IndexPLUS[supreg] AR Strategy Exchange-Traded Fund (``Small
Company Fundamental IndexPLUS Fund''), PIMCO EM Fundamental
IndexPLUS[supreg] AR Strategy Exchange-Traded Fund (``EM Fundamental
IndexPLUS Fund''), PIMCO International Fundamental IndexPLUS[supreg] AR
Strategy Exchange-Traded Fund (``International Fundamental IndexPLUS
Fund''), PIMCO EM StocksPLUS[supreg] AR Strategy Exchange-Traded Fund
(``EM StocksPLUS Fund''), and PIMCO International StocksPLUS[supreg] AR
Strategy Exchange-Traded Fund (Unhedged) (``International StocksPLUS
Fund'') (each a ``Fund'' and collectively the ``Funds''). The proposed
rule change was published for comment in the Federal Register on
September 3, 2014.\3\ The Commission received no comments on the
proposal. On October 15, 2014, pursuant to Section 19(b)(2) of the
Act,\4\ the Commission designated a longer period within which to
either approve the proposed rule change, disapprove the proposed rule
change, or institute

proceedings to determine whether to disapprove the proposed rule
change.\5\ On December 1, 2014, the Commission instituted proceedings
to determine whether to approve or disapprove the proposed rule
change.\6\ On December 23, 2014, the Exchange filed Amendment No. 1 to
the proposed rule change, which entirely replaced and superseded its
proposal as originally filed.\7\ On March 2, 2015, the Commission
designated a longer period for Commission action.\8\ On April 20, 2015,
the Exchange filed Amendment No. 2 to the proposed rule change.\9\ The
Commission is publishing this notice to solicit comments on Amendments
Nos. 1 and 2 from interested persons, and is approving the proposed
rule change, as modified by Amendments Nos. 1 and 2, on an accelerated
basis.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ See Securities Exchange Act Release No. 72937 (Aug. 27,
2014), 79 FR 52385).
    \4\ 15 U.S.C. 78s(b)(2).
    \5\ See Securities Exchange Act Release No. 73364, 79 FR 62988
(Oct. 21, 2014). The Commission determined that it was appropriate
to designate a longer period within which to take action on the
proposed rule change so that it would have sufficient time to
consider the proposed rule change. Accordingly, the Commission
designated December 2, 2014 as the date by which it should approve,
disapprove, or institute proceedings to determine whether to
disapprove the proposed rule change.
    \6\ See Securities Exchange Act Release No. 73706, 79 FR 72223
(Dec. 5, 2014) (``Order Instituting Proceedings''). In the Order
Instituting Proceedings, the Commission noted, among other things
that questions remained as to whether the Exchange's proposal is
consistent with the requirement of 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, to promote just and equitable
principles of trade, and to protect investors and the public
interest.
    \7\ In Amendment No. 1, the Exchange: (1) Clarified the
definition of Fixed Income Instruments; (2) clarified that the types
of securities and instruments specified as permitted investments may
be economically tied to foreign countries; (3) clarified that the
types of securities specified as permitted investments may be
denominated in foreign currencies; (4) clarified that the Funds may
invest in OTC foreign currency options contracts; (5) eliminated the
ability of the Funds to enter into any series of purchase and sale
contracts; (6) modified the proposal to exclude from the Funds'
permitted investments variable and floating rate securities and
floaters and inverse floaters that are not Fixed Income Instruments,
as defined in the proposal; (7) modified the proposal to provide
that a Fund may invest up to 20% of its total assets in (a) trade
claims, (b) junior bank loans, (c) exchange-traded and OTC-traded
structured products, and (d) privately placed and unregistered
securities (except that no limit will apply to privately placed and
unregistered securities that satisfy the listing requirements in the
Exchange's Rule 5.2(j)(3), Commentary .02(a)(6)); and (8) clarified
that each Fund may invest up to 20% of its total assets in senior
bank loans.
    \8\ See Securities Exchange Act Release No. 74407, 80 FR 12228
(Mar. 6, 2015). The Commission designated May 1, 2015 as the date by
which it would either approve or disapprove the proposed rule
change.
    \9\ In Amendment No. 2, the Exchange provided more information
about the Funds' use of derivatives, specifying that each Fund may
employ derivatives as part of a strategy intended to provide total
notional exposure that exceeds the value of the Fund's net assets.
Additionally, the Exchange noted that each Fund will segregate
assets determined to be liquid by the Adviser in accordance with
procedures established by the Trust's board and in accordance with
the 1940 Act.
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II. Description of Proposed Rule Change

A. In General

    The Exchange proposes to list and trade the Shares under NYSE Arca
Equities Rule 8.600, which governs the listing and trading of Managed
Fund Shares. The Shares will be offered by PIMCO ETF Trust
(``Trust''),\10\ a registered open-end management investment company.
Pacific Investment Management Company LLC will be the investment
adviser for the Funds (the ``Adviser'').\11\ Research Affiliates, LLC
will be the sub-adviser with respect to the Fundamental IndexPLUS Fund,
Small Company Fundamental IndexPLUS Fund, EM Fundamental IndexPLUS
Fund, and the International Fundamental IndexPLUS Fund (the ``Sub-
Adviser''). PIMCO Investments LLC will serve as the distributor for the
Funds. State Street Bank & Trust Co. will serve as the custodian and
transfer agent for the Funds.
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    \10\ The Trust is registered under the 1940 Act. According to
the Exchange, on January 27, 2014, the Trust filed with the
Commission an amendment to its registration statement on Form N-1A
(File Nos. 333-155395 and 811-22250) (``Registration Statements'').
In addition, the Commission has issued an order granting certain
exemptive relief to the Trust under the 1940 Act. See Investment
Company Act Release No. 28993 (File No. 812-13571) (Nov. 10, 2009).
    \11\ The Exchange represents that the Adviser is not registered
as a broker-dealer, but is affiliated with a broker-dealer. The
Exchange further represents that the Adviser will implement a ``fire
wall'' with respect to that broker-dealer affiliate regarding access
to information concerning the composition of and changes to the
Funds' portfolios. The Exchange further represents that the Sub-
Adviser is not registered as a broker-dealer or affiliated with a
broker-dealer. In addition, according to the Exchange, in the event
(a) the Adviser or Sub-Adviser becomes, or becomes newly affiliated
with, a broker-dealer, or (b) any new adviser or sub-adviser is, or
becomes affiliated with, a broker-dealer, the Adviser or any new
adviser or Sub-Adviser or new sub-adviser, as applicable, will
implement a fire wall with respect to its relevant personnel or its
broker-dealer affiliate regarding access to information concerning
the composition of and changes to the Funds' portfolios, and will be
subject to procedures designed to prevent the use and dissemination
of material, non-public information regarding the portfolios.
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B. The Exchange's Description of the Funds

    The Exchange has made the following representations and statements
in describing the Funds and its investment strategies, including other
portfolio holdings and investment restrictions.\12\
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    \12\ Additional information regarding the Trust, the Funds, and
the Shares, including investment strategies, risks, net asset value
(``NAV'') calculation, creation and redemption procedures, fees,
portfolio holdings disclosure policies, distributions, and taxes,
among other information, is included in Amendment No. 1 and the
Registration Statements, as applicable. See Amendment No. 1, supra
note 7 and Registration Statements, supra note 10.
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1. Principal Investments of Funds
    Each Fund will seek total return that exceeds the total return of
its equity securities index benchmark, and under normal circumstances
would seek to achieve its investment objective by investing in
derivatives overlying its benchmark and a portfolio of Fixed Income
Instruments (defined below), which would be managed using an absolute
return approach. Typically, the Funds would use derivative instruments
as a substitute for taking a position in the underlying asset \13\ or
as part of a strategy designed to reduce exposure to other risks. The
Funds may also use derivative instruments to enhance returns.
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    \13\ Derivatives may be purchased with a small fraction of the
assets that would be needed to purchase the benchmark index
securities directly, and the remainder of the Funds' assets may be
invested in Fixed Income Instruments. Although the Funds generally
will not invest directly in benchmark index component stocks, the
Funds may invest in stocks and exchange-traded funds.
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    ``Fixed Income Instruments'' are: Securities issued or guaranteed
by the U.S. Government, its agencies, or government-sponsored
enterprises (``U.S. Government Securities''); corporate debt securities
of U.S. and non-U.S. issuers, including convertible securities and
corporate commercial paper; mortgage-backed and other asset-backed
securities; inflation-indexed bonds issued both by governments and
corporations; structured notes, including hybrid or ``indexed''
securities, and event-linked bonds; \14\ bank capital and trust
preferred securities; loan participations and assignments; \15\ delayed
funding loans and revolving credit facilities; bank certificates of
deposit, fixed time deposits and bankers' acceptances; repurchase
agreements on Fixed Income Instruments and reverse repurchase
agreements on Fixed Income Instruments; debt securities issued by
states or local governments and their agencies, authorities and other
government-sponsored enterprises; obligations of non-U.S. governments
or their subdivisions, agencies, and government-sponsored enterprises;
and obligations of international agencies or supranational entities.
Derivative instruments may include the following: Forwards; exchange-
traded and over-

the-counter (``OTC'') options contracts; exchange-traded futures
contracts; exchange-traded and OTC swap agreements; exchange-traded and
OTC options on futures contracts; and OTC options on swap
agreements.\16\
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    \14\ Such investments will constitute only up to 20% of a Fund's
total assets.
    \15\ Such investments will constitute only up to 20% of a Fund's
total assets.
    \16\ All investment guidelines and limitations will apply to a
Fund's aggregate investment exposure to a particular type of
investment that is the subject of the guideline or limitation,
whether that exposure is obtained through direct holdings or through
derivative instruments.
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2. Other Investments of the Funds
    While each of the Funds, under normal circumstances,\17\ will
invest in investments as described above, the Funds may also invest in
other certain investments as described below.
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    \17\ The term ``under normal circumstances'' includes, but is
not limited to, the absence of extreme volatility or trading halts
in the equity markets or the financial markets generally;
operational issues causing dissemination of inaccurate market
information; or force majeure type events such as systems failure,
natural or man-made disaster, act of God, armed conflict, act of
terrorism, riot or labor disruption or any similar intervening
circumstance.
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    The Funds may invest in securities and instruments that are
economically tied to foreign (non-U.S.) countries. The Funds may invest
in securities denominated in foreign (non-U.S.) currencies and in U.S.
dollar-denominated securities of foreign (non-U.S.) issuers, subject to
applicable limitations set forth in the proposed rule change. With
respect to the Funds' absolute return investments, each Fund will
normally limit its foreign currency exposure (from non-U.S. dollar-
denominated securities or currencies) to 20% of its total assets. With
respect to the Funds' absolute return investments, each Fund may invest
up to 25% of its total assets in securities and instruments that are
economically tied to emerging market countries.
    Each of the Funds may also engage in foreign currency transactions
on a spot (cash) basis or forward basis, and each of the Funds may
invest in foreign currency futures contracts and options contracts. The
Funds may enter into these contracts to hedge against foreign exchange
risk, to increase exposure to a foreign currency, or to shift exposure
to foreign currency fluctuations from one currency to another. Suitable
hedging transactions may not be available in all circumstances and
there can be no assurance that the Funds will engage in such
transactions at any given time or from time to time.
    The Funds may purchase or sell securities on a when-issued, delayed
delivery or forward commitment basis and may engage in short sales.
3. Additional Investment Limits of the Funds
    Each of the Funds may invest up to 10% of its total assets in
preferred stocks, convertible securities, and other equity-related
securities. Each Fund may invest up to 20% of its total assets in: (i)
Trade claims; (ii) junior bank loans; (iii) exchange-traded and OTC-
traded structured products, including credit-linked securities and
commodity-linked notes; and (iv) privately placed and unregistered
securities. This 20% limitation, however, does not apply to privately
placed and unregistered securities that comply with the generic fixed
income initial listing requirements in NYSE Arca Equities Rule
5.2(j)(3), Commentary .02(a)(6).\18\
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    \18\ NYSE Arca Equities Rule 5.2(j)(3), Commentary .02 provides
for listing on the Exchange pursuant to Rule 19b-4(e) under the Act
of a series of Units with an underlying index or portfolio of Fixed
Income Securities meeting specified criteria. Units meeting these
criteria can be listed and traded on the Exchange without Commission
approval of each individual product pursuant to Section 19(b)(2) of
the Act.
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    Each Fund may, with up to 20% of its total assets, enter into
repurchase agreements on instruments other than Fixed Income
Instruments. Each Fund may also, with up to 20% of its total assets,
enter into reverse repurchase agreements on instruments other than
Fixed Income Instruments, subject to the Fund's limitations on
borrowings.
    Each Fund may invest up to 20% of its total assets in ``high yield
securities'' or unrated securities determined by PIMCO to be of
comparable quality (except that within this limitation, the Fund may
invest in mortgage-related securities rated below B).
    Each Fund may invest up to 20% of its assets in mortgage-related
and other asset-backed securities, although this 20% limitation does
not apply to securities issued or guaranteed by Federal agencies or
U.S. government sponsored instrumentalities. Each Fund may invest up to
20% of its total assets in senior bank loans.

III. Discussion and Commission's Findings

    After careful review, the Commission finds that the proposed rule
change is consistent with the requirements of Section 6 of the Act \19\
and the rules and regulations thereunder applicable to a national
securities exchange.\20\ In particular, the Commission finds that the
proposal is consistent with Section 6(b)(5) of the Act,\21\ which
requires, among other things, that the Exchange's rules be designed to
promote just and equitable principles of trade, to remove impediments
to and perfect the mechanism of a free and open market and a national
market system, and, in general, to protect investors and the public
interest. The Commission also finds that the proposal to list and trade
the Shares on the Exchange is consistent with Section 11A(a)(1)(C)(iii)
of the Act,\22\ which sets forth Congress' finding that it is in the
public interest and appropriate for the protection of investors and the
maintenance of fair and orderly markets to assure the availability to
brokers, dealers, and investors of information with respect to
quotations for, and transactions in, securities.
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    \19\ 15 U.S.C. 78f.
    \20\ In approving this proposed rule change, the Commission has
considered the proposed rule's impact on efficiency, competition,
and capital formation. See 15 U.S.C. 78c(f).
    \21\ 15 U.S.C. 78f(b)(5).
    \22\ 15 U.S.C. 78k-1(a)(1)(C)(iii).
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    Quotation and last-sale information for the Shares will be
available via the Consolidated Tape Association (``CTA'') high-speed
line. In addition, the Portfolio Indicative Value (``PIV'') as defined
in NYSE Arca Equities Rule 8.600(c)(3), will be widely disseminated at
least every fifteen seconds during the NYSE Arca Core Trading Session
by one or more major market data vendors.\23\ On a daily basis, the
Funds will disclose for each portfolio holding, as applicable to the
type of holding, the following information on the Funds' Web site:
Ticker symbol, CUSIP number or other identifier, if any; a description
of the holding (including the type of holding, such as the type of
swap); the identity of the security or other asset or instrument
underlying the holding,\24\ if any; for options, the option strike
price; quantity held (as measured by, for example, par value, notional
value or number of shares, contracts or units); maturity date, if any;
coupon rate, if any; effective date, if any; market value of the
holding; and the percentage weighting of the holding in the portfolio.
The Web site information will be publicly available at no charge.
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    \23\ The Exchange understands that several major market data
vendors display or make widely available PIV taken from CTA or other
data feeds.
    \24\ Derivatives that reference or allow delivery of more than
one asset, such as U.S. Treasury futures, will name the underlying
asset generically.
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    In addition, a basket composition file, which includes the security
names and share quantities required to be delivered in exchange for
each of the Funds' Shares, together with estimates and actual cash
components, will be publicly disseminated daily prior to the opening of
the Exchange via National Securities Clearing Corporation. The NAV of
each of the Funds will be

determined as of the close of trading (normally 4:00 p.m., Eastern
Time) on each day the Exchange is open for business.
    Information regarding market price and trading volume of the Shares
will be continually available on a real-time basis throughout the day
on brokers' computer screens and other electronic services. Information
regarding the previous day's closing price and trading volume
information for the Shares will be published daily in the financial
section of newspapers. Intra-day and closing prices of equity
securities traded on a national securities exchange, including common
stocks, preferred stocks, securities convertible into stocks, closed-
end funds, exchange traded-funds, and other equity-related securities,
as well as any options (including options on futures) and futures, will
be available from the exchange on which those securities and
instruments are traded. U.S. exchange-traded options quotation and last
sale information is available via the Options Price Reporting
Authority. Intra-day and closing price information for Fixed Income
Instruments will be available from major market data vendors. In
addition, price information for debt securities and other financial
instruments, forwards, OTC options, swaps, money market instruments,
trade claims, privately placed and unregistered securities, bank loans,
and structured products held by each Fund will be available through
major market data vendors. Price information regarding other investment
company securities will be available from on-line information services
and from the Web site for the applicable investment company security.
The Trust's Web site will include a form of the prospectus for each of
the Funds and additional data relating to NAV and other applicable
quantitative information for the Funds.
    The Exchange will obtain a representation from the issuer of the
Shares that the NAV per Share will be calculated daily and the NAV and
the Disclosed Portfolio will be made available to all market
participants at the same time. Trading in Shares will be halted if the
circuit breaker parameters in NYSE Arca Equities Rule 7.12 have been
reached or because of market conditions or for reasons that, in the
view of the Exchange, make trading in the Shares inadvisable,\25\ and
trading in the Shares will be subject to NYSE Arca Equities Rule
8.600(d)(2)(D), which sets forth additional circumstances under which
trading in the Shares may be halted. The Exchange states that it has a
general policy prohibiting the distribution of material, non-public
information by its employees. Consistent with NYSE Arca Equities Rule
8.600(d)(2)(B)(ii), the Commission notes that the Reporting Authority
must implement and maintain, or be subject to, procedures designed to
prevent the use and dissemination of material, non-public information
regarding the actual components of each Fund's portfolio. In addition,
the Exchange states that the Adviser is affiliated with a broker-dealer
and that the Adviser will implement a fire wall with respect to that
broker-dealer affiliate regarding access to information concerning the
composition of and changes to the Funds' portfolios.\26\ The Exchange
represents that trading in the Shares will be subject to the existing
trading surveillances, administered by the Financial Industry
Regulatory Authority (``FINRA'') on behalf of the Exchange, which are
designed to detect violations of Exchange rules and applicable federal
securities laws.\27\ The Exchange further represents that these
procedures are adequate to properly monitor Exchange trading of the
Shares in all trading sessions and to deter and detect violations of
Exchange rules and of federal securities laws applicable to trading on
the Exchange. Moreover, prior to the commencement of trading, the
Exchange states that it will inform its Equity Trading Permit Holders
in an Information Bulletin of the special characteristics and risks
associated with trading the Shares.
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    \25\ These reasons may include: (1) The extent to which trading
is not occurring in the securities or the financial instruments
composing the Disclosed Portfolio of the Funds; or (2) the presence
of other unusual conditions or circumstances detrimental to the
maintenance of a fair and orderly market. With respect to trading
halts, the Exchange may consider all relevant factors in exercising
its discretion to halt or suspend trading in the Shares.
    \26\ See supra note 7. The Exchange states that an investment
adviser to an open-end fund is required to be registered under the
Investment Advisers Act of 1940 (``Advisers Act''). As a result, the
Adviser and its related personnel are subject to the provisions of
Rule 204A-1 under the Advisers Act relating to codes of ethics. This
Rule requires investment advisers to adopt a code of ethics that
reflects the fiduciary nature of the relationship to clients, as
well as compliance with other applicable securities laws.
Accordingly, procedures designed to prevent the communication and
misuse of non-public information by an investment adviser must be
consistent with Rule 204A-1 under the Advisers Act. In addition,
Rule 206(4)-7 under the Advisers Act makes it unlawful for an
investment adviser to provide investment advice to clients unless
such investment adviser has (i) adopted and implemented written
policies and procedures reasonably designed to prevent violation, by
the investment adviser and its supervised persons, of the Advisers
Act and the Commission rules adopted thereunder; (ii) implemented,
at a minimum, an annual review regarding the adequacy of the
policies and procedures established pursuant to subparagraph (i)
above and the effectiveness of their implementation; and (iii)
designated an individual (who is a supervised person) responsible
for administering the policies and procedures adopted under
subparagraph (i) above.
    \27\ The Exchange states that FINRA surveils trading on the
Exchange pursuant to a regulatory services agreement and that the
Exchange is responsible for FINRA's performance under this
regulatory services agreement.
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    The Commission notes that the Shares and the Funds must comply with
the initial and continued listing criteria in NYSE Arca Equities Rule
8.600 for the Shares to be listed and traded on the Exchange. The
Exchange represents that it deems the Shares to be equity securities,
thus rendering trading in the Shares subject to the Exchange's existing
rules governing the trading of equity securities. In support of this
proposal, the Exchange has also made the following representations:
    (1) The Shares will be subject to NYSE Arca Equities Rule 8.600,
which sets forth the initial and continued listing criteria applicable
to Managed Fund Shares.
    (2) The Exchange has appropriate rules to facilitate transactions
in the Shares during all trading sessions.
    (3) FINRA, on behalf of the Exchange, will communicate as needed
regarding trading in the Shares, exchange-traded options, equity
securities, futures and options on futures with other markets and other
entities that are members of ISG, and FINRA, on behalf of the Exchange,
may obtain trading information regarding trading in the Shares,
exchange-traded options, equity securities, futures and options on
futures from these markets and other entities. In addition, the
Exchange may obtain information regarding trading in the Shares,
exchange-traded options, equity securities, futures and options on
futures from ISG member markets or markets with which the Exchange has
in place a comprehensive surveillance sharing agreement.
    (4) With respect to its exchange-traded equity securities
investments, the Funds will invest not more than 10% of its net assets
in equity securities that trade in markets that are neither members of
the ISG nor parties to a comprehensive surveillance sharing agreement
with the Exchange. To the extent that any of the Funds invest in
futures contracts or exchange-traded options, not more than 10% of such
investments will be in futures contracts or exchange-traded options
whose principal trading market is neither a member of ISG nor a market
with which the Exchange does not have a comprehensive surveillance
sharing agreement.
    (5) Prior to the commencement of trading, the Exchange will inform
its Equity Trading Permit Holders in an

Information Bulletin of the special characteristics and risks
associated with trading the Shares. Specifically, the Information
Bulletin will discuss the following: (a) The procedures for purchases
and redemptions of Shares in creation units (and that Shares are not
individually redeemable); (b) NYSE Arca Equities Rule 9.2(a), which
imposes a duty of due diligence on its Equity Trading Permit Holders to
learn the essential facts relating to every customer prior to trading
the Shares; (c) the risks involved in trading the Shares during the
Opening and Late Trading Sessions when an updated Portfolio Indicative
Value will not be calculated or publicly disseminated; (d) how
information regarding the Portfolio Indicative Value and Disclosed
Portfolio is disseminated; (e) the requirement that Equity Trading
Permit Holders deliver a prospectus to investors purchasing newly
issued Shares prior to or concurrently with the confirmation of a
transaction; and (f) trading information.
    (6) For initial and continued listing, the Funds will be in
compliance with Rule 10A-3 under the Act,\28\ as provided by NYSE Arca
Equities Rule 5.3.
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    \28\ 17 CFR 240.10A-3.
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    (7) Each of the Funds may hold up to an aggregate amount of 15% of
its net assets in illiquid assets (calculated at the time of
investment).
    (8) A minimum of 100,000 Shares for each of the Funds will be
outstanding at the commencement of trading on the Exchange.

This approval order is based on all of the Exchange's representations,
including those set forth above and in Amendments Nos. 1 and 2.
    For the foregoing reasons, the Commission finds that the proposed
rule change, as modified by Amendments Nos. 1 and 2, is consistent with
Section 6(b)(5) of the Act \29\ and the rules and regulations
thereunder applicable to a national securities exchange.
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    \29\ 15 U.S.C. 78f(b)(5).
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IV. Solicitation of Comments on Amendments Nos. 1 and 2

    Interested persons are invited to submit written data, views, and
arguments concerning whether Amendments Nos. 1 and 2 are consistent
with the Act. Comments may be submitted by any of the following
methods:

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2014-89 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-NYSEArca-2014-89. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEArca-2014-89 and should
be submitted on or before May 26, 2015.

V. Accelerated Approval of Proposed Rule Change as Modified by
Amendments Nos. 1 and 2

    The Commission finds good cause to approve the proposed rule
change, as modified by Amendments Nos. 1 and 2, prior to the thirtieth
day after the date of publication of notice of the amendments in the
Federal Register. Amendment No. 1 modifies the proposed rule change by,
among other things, limiting each Fund's investments trade claims,
junior bank loans, exchange-traded and OTC-traded structured products,
and certain privately placed and unregistered securities. Additionally,
Amendment No. 2 modifies the propose rule change by expanding the
description of the Funds' use of derivatives. The Commission believes
that these changes should facilitate arbitrage opportunities, which may
result in narrower spreads between the market prices of the Shares and
the intraday values of the Funds' portfolios. Accordingly, the
Commission finds good cause, pursuant to Section 19(b)(2) of the
Act,\30\ to approve the proposed rule change, as modified by Amendments
Nos. 1 and 2, on an accelerated basis.
---------------------------------------------------------------------------

    \30\ 15 U.S.C. 78s(b)(2).
---------------------------------------------------------------------------

VI. Conclusion

    It is therefore ordered, pursuant to Section 19(b)(2) of the
Act,\31\ that the proposed rule change as modified by Amendments Nos. 1
and 2 (SR-NYSEArca-2014-89) be, and it hereby is, approved on an
accelerated basis.
---------------------------------------------------------------------------

    \31\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\32\
---------------------------------------------------------------------------

    \32\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2015-10412 Filed 5-4-15; 8:45 am]
 BILLING CODE 8011-01-P


1 1 2 3 4 ENVIRONMENTAL PROTECTION AGENCY ( EPA)

5 6 Radiation Protection Standards Applicable to 7 Yucca Mountain 8 9 10 11 P U B L I C H E A R I N G & C O M M E N T S 12 October 5, 2005 13 14 15 16 17 18 19 20 21 22 23 24 25 Reported by: Gina J. Mendez, CCR No. 787 2 1 MS. COTSWORTH: Good morning. I'm 2 Elizabeth Cotsworth. I'm the director of EPA's Office 3 of Radiation and Indoor Air.

4 I am here today at the request of the 5 Administrator of the Environmental Protection Agency to 6 represent him at these hearings and to hear the public 7 comments, comments of Nevadans, on our proposed 8 August 22nd radiation protection standards applicable to 9 Yucca Mountain.

10 I want to thank all of you for taking time 11 this morning to participate in the hearing process. At 12 this hearing, as well as the hearings we have had over 13 the last two days and that which we will have tomorrow 14 and next week in Washington, the public has the 15 opportunity to comment on this very important proposed 16 rule.

17 We look forward to receiving your comments.

18 It's a critical part of the development of the final 19 rule and for the development of overall public policy.

20 We are open to receiving all points of view,

21 and we'll carefully consider them in developing the 22 final rule.

23 A few of you who were here last evening have 24 heard my statements, but many of you were not, so I do 25 want to take a few minutes to provide some context, some 3 1 background to why we're here this morning.

2 EPA's mission is to protect human health in 3 the environment. It's a mission that we take very 4 seriously.

5 As you all know, radiation naturally exists 6 everywhere. And the majority of an individual's 7 exposure does come from natural sources. But exposure 8 to radiation can have an impact on health, so we closely 9 monitor, and we regulate uses of manmade radiation.

10 That's the background why Congress directed the EPA to 11 develop standards that would apply to the proposed 12 facility at Yucca Mountain.

13 The Yucca Mountain standards are intended 14 to protect the public from the hazards of radioactive 15 waste that may be disposed of at that facility.

16 Yucca Mountain can be opened and operated 17 only if it meets EPA's final standards. So we're here 18 today to fulfill that specific role for EPA with regard 19 to Yucca Mountain. We have to make sure that a 20 Yucca Mountain highway level  a high level waste 21 facility, excuse me, will be operated and opened only if 22 public health can be protected.

23 Our standards will be incorporated into the 24 Nuclear Regulatory Commission's licensing requirements 25 for the Yucca Mountain facility, then the Department of 4 1 Energy can apply for the license to operate the site.

2 Again, only if DOE can meet EPA standards 3 will it open and operate.

4 In laying out EPA's role, Congress says that 5 we needed to follow the expert advice of the National 6 Academy of Sciences, which is the leading U. S.

7 scientific organization composed of technical and 8 leading experts and scientists.

9 The National Academy of Sciences, in a 10 report to EPA, say that our standards should cover at 11 least the time period when the highest releases of 12 radiation are most likely to occur.

13 EPA first issued Yucca Mountain standards in 14 2001. Last July the U. S. Court of Appeals ruled that 15 the 10,000 year time period, when our standards would be 16 in effect, was inconsistent with the recommendations 17 made by that National Academy of Sciences.

18 It's important here to point out that the 19 court did not rule that EPA standard was not protective,

20 but merely that EPA standards were not consistent with 21 or based on a longer time period when the highest doses 22 of radiation from the waste are most likely to occur.

23 We have now revised our standard in response 24 to the court ruling. Our new proposed rule limits 25 radiation doses from Yucca Mountain for up to a million 5 1 years after it closes. No other rules in the 2 United States for any kind of risks have ever attempted 3 to regulate for such a long period of time.

4 To meet this unprecedented challenge, we 5 have tried to follow the best advice of the NAS as well 6 as scientific experts from around the world.

7 For the first 10,000 years, we retain a dose 8 limit of 15 millirems a year. This is protection at the 9 level of the most stringent radiation regulations in the 10 United States today.

11 From 10,000 up to a million years, we 12 propose a dose limit of 350 millirems. This represents 13 a total radiation exposure for people who live near 14 Yucca Mountain no higher than natural levels people live 15 with routinely in other parts of the country.

16 One million years does include the time at 17 which the highest doses of radiation from the facility 18 are currently expected to occur. It represents 25,000 19 generations.

20 Our proposal also requires the Department of 21 Energy to show that Yucca Mountain can safely contain 22 waste even considering the effects of volcanos,

23 earthquakes, climate change, and the corrosion of the 24 containers.

25 We've proposed the revised standards to 6 1 address the issues raised by the courts, reflect sound 2 science including its limitations, protect human health,

3 and provide clear guidance for the Nuclear Regulatory 4 Commission for licensing.

5 The proposed rule maintains the 6 protectiveness of our earlier standards and addresses 7 the NAS advice by adding protections up to one million 8 years, the time, again, when the highest doses of 9 radiation from the site are most likely to occur.

10 We look forward to hearing your comments on 11 our proposed approach to meeting this unprecedented 12 scientific challenge. Your comments will become part of 13 a formal rule making record, as will other comments 14 received earlier in this public hearing process and any 15 submitted throughout the public comment period.

16 Once the public comment period closes on 17 November 21st, we will review the comments and consider 18 them fully in developing our rule.

19 Again, I want to thank you for participating 20 in these hearings today.

21 I want to point out that other members 22 of the panel who will be hearing your comments today 23 are Miss Betsy Forinash, who is the team leader for the 24 Yucca Mountain team in my office, as well as 25 Mr. Keith Matthews from the Office of General Counsel. 7 1 I will now ask Doug Sarno, who will be the 2 hearing officer for today's proceedings, to explain the 3 ground rules.

4 MR. SARNO: Thank you.

5 Good morning. We have a number of folks 6 that have preregistered to provide comments here this 7 morning. That does not mean that if you have not 8 preregistered you will not be able to provide comments.

9 After I have gone through the people who are signed up,

10 I will ask if anyone else wants to make a comment.

11 The comments for individuals will be limited 12 to five minutes, and comments for individuals who are 13 representing a group will be given ten minutes.

14 I want to just reiterate that commenting 15 here, obviously, is on the record. But this isn't the 16 only way to get on the record, there are lots of 17 different ways for your comments to get into the record 18 and for EPA to consider those comments. A lot of them 19 here in the room.

20 You can provide written comments, you can 21 type your comments into the computer over there or speak 22 into the  to the tape recorder, if you prefer to do 23 that that way. You may also do them by e mail on the 24 Web, fax them, mail them, courier them. Get them to EPA 25 in a lot of different ways. 8 1 Fax Sheet No. 3 over there on the 2 information table talks about all of the different 3 methods you can use to get on the record and the exact 4 parameters for that: Addresses, fax numbers, those 5 sorts of things.

6 So we do hope that you take advantage of 7 some avenue to get your comments into EPA.

8 I'm going to call individuals up, and I will 9 let you know how much time you have available, whether 10 you're an individual or with a group. And I will try to 11 let you know as you're running down. I'll hold up a 12 two minute sign then a one minute sign just so you have 13 a sense of where you are in your  in your talk, and I 14 will call time at the appropriate  at the appropriate 15 time.

16 At this time the first person on our 17 schedule is Micki Jay.

18 MS. JAY: Yes. Do you need me to come up to 19 the microphone?

20 MR. SARNO: You do need to come up to the 21 microphone just so everybody can hear you.

22 And you will have five minutes.

23 MS. JAY: I hate being the first one because 24 I've blazed the trail, but I'm willing to do it because 25 I do have something on my mind. 9 1 Although I'm a member of the  my name is 2 Micki Jay, M i c k i J a y. And I'm the member of two 3 conservation organizations. One is called the 4 Tule Springs Preservation Committee in northwest 5 Las Vegas. And the other I founded called the Northwest 6 Las Vegas Equestrian Safety Coalition.

7 But I am not here representing them. I'm 8 here speaking myself, representing my children, your 9 children, their children, their children, their 10 children, and more  the future generations that are 11 not yet here to speak for themselves.

12 We're at a point right now, a very crucial 13 point, the decisions we make will affect, obviously

14 you said 25,000 generations in the future. That's mind 15 boggling, but here we are doing that.

16 And I have to backtrack a moment and say to 17 you that I feel a single repository makes no sense. The 18 site was chosen in 1987, long before the population here 19 in Las Vegas was growing. I think we have two million 20 people now. This is an  it's only 90 miles away.

21 We, I am, advocating leaving the waste at 22 the power plants where it exists so no travel is 23 necessary. And we suggest investing in waste processing 24 technology as used by other nations to recycle these 25 nuclear rods. 10 1 And I say that to you because of 9/ 11.

2 Transporting the waste across the country seems to me 3 not to be aware of the possibilities of spillage plus 4 terrorism. This can  this can have untold effect on 5 everybody, not just Las Vegas. On the whole planet.

6 Okay.

7 We insist the West  the waste remain where 8 it is. Don't bring it to the West. We need onsite 9 storage and reprocessing.

10 The water flow inside the mountain could,

11 ultimately, cause radiation to leak in this repository.

12 There's really no way to tell, we're blazing the trail 13 here. We have no idea what can happen even though you 14 feel that with scientific discovery and the research 15 that there can be no derogatory reaction down there.

16 That's not true. We don't, we're not going to be there.

17 We really don't know, it's unchartered territory.

18 So I feel being it's unknown, we shouldn't 19 take the chance.

20 Senator Robert Bennett of Utah said, The 21 nation should rethink using Yucca Mountain for 22 high level nuclear waste dump.

23 He defected as a Yucca supporter. He's 24 changed his mind.

25 Okay. Also, the two tier radiation standard 11 1 is not stable, and there's no reason the radiation limit 2 should increase so dramatically. How can we be certain 3 that the standards will protect people one million years 4 in the future?

5 Let's admit there's an error in considering 6 the single repository and do further studies on the 7 reprocessing and disposal of spent nuclear fuel. This 8 is where the money is best spent. Research and 9 development, keeping the nuclear rods where they are in 10 some manner.

11 Thank you very much.

12 MS. COTSWORTH: Thank you.

13 MR. SARNO: Thank you, Miss Jay.

14 Next on our list is Fred Toomey ( Phonetic).

15 And you also have five minutes.

16 MR. TOOMEY: My name is Fred Toomey. I'm an 17 ex business agent of 433 Ironworkers.

18 I've been coming to these meetings for 25 19 years. I have never  we have never got any true 20 answers off of the board, atomic, and the people up at 21 the front.

22 Number one, a question I would like to ask 23 is they had a bomb blow  we blew up at Hiroshima, or 24 wherever it was at, and the reporters, you talk to 25 reporters, you talk  there's a big city right there. 12 1 Right at Ground Zero there is a big city. They're not 2 dying, they're living just where the atomic bomb was 3 blowed up at.

4 Now, is there anybody in here that can tell 5 me how big the city is? No, because they won't even 6 tell you. It's been going on for years. I worked up 7 there. They had an atomic bomb  I got some notes, but 8 I can't read them all.

9 I worked in Area 3. We blasted the atomic 10 bomb. Three weeks later, because it wasn't satisfied,

11 we went back in. We pushed the sand aside what turned 12 green in an area as big as this room, maybe four times 13 as big as this room, so we could work on it.

14 We took the guidelines, threw it out to the 15 street out there, and that was just green radiation that 16 everybody is scared of. They got everybody scared of 17 radiation.

18 And I believe they should be scared, but at 19 the same time, you're talking about millions of years.

20 Fine. How about them people over there in the Japanese 21 who are living there right now? How about myself, I'm 22 pushing 80? And I can name six or eight guys that we 23 worked on that tower out there. None of us are dead,

24 and I'm not in bad shape for pushing 80.

25 Atomic bomb, 500 feet in the air. I'd like 13 1 to say 500 feet blasted down, radiation and everything 2 else. We're there three weeks later, working there, the 3 same area, that's Area 3, for 30 years  almost 25, 30 4 years  there's a small city up there of construction 5 guys that has their fabrication plants and everything 6 else that have been up there for 25, 30 years. Nothing 7 wrong with them, they're still working there.

8 How come these people don't tell you people 9 this? They're so scared of radiation and we're

10 here there's a big, a huge metropolis, the people are 11 living there right now, over now in Japan that we blew 12 up. Have any of you heard about it? No.

13 They talk about 25,000 years, a million 14 years. How about thirty years? Twenty five years?

15 Fifty years? How come we haven't got to check them over 16 there for radiation and how they're living with their 17 kids and family and everybody else over there? A city.

18 You and I both know they're not going to put 19 a city out there in Mercury.

20 Now, young lady, I agree with her, for 21 transportation is always dangerous. So is aviation fuel 22 and everything else. But right now with this oil 23 shortage, we better  we better start getting atomic 24 plants like they have around the rest of the world.

25 They're talking about now, if we start 14 1 putting up more atomic plants across the world, you're 2 going to go double, triple places to look for to store 3 the stuff.

4 Anyhow, I got two minutes or am I over?

5 MR. SARNO: No. You've got another minute 6 and a half.

7 MR. TOOMEY: Minute and a half. Good 8 enough.

9 Well, I did say the rest of the world are 10 putting up atomic plants because we're short of oil,

11 we're going to run out of oil pretty soon. And this is 12 back to atomic energy.

13 Thank you.

14 MR. SARNO: Thank you, sir.

15 MS. COTSWORTH: Thank you.

16 MR. SARNO: Next up is Frank Perna.

17 MR. PERNA: My name is Frank Perna,

18 P e r n a. I'm a Clark County resident.

19 I didn't know there was a difference between 20 an organization and a person for time. I'm a member of 21 the Clark County Yucca Mountain Advisory Committee.

22 MR. SARNO: If you would like to speak on 23 their behalf, you are welcome to have ten minutes.

24 MR. PERNA: Well, I don't know about their 25 behalf. 15 1 I'm glad they called on Mr. Toomey because 2 his thinking is not correct. Of course, I don't know 3 what the death toll was at Hiroshima and Nagasaki, but 4 it wasn't small potatoes. We're talking forty, 50,000 5 people. And the years following that, many, many more 6 died, but we don't know exactly how many.

7 And I'd say that there's a lot of people

8 the worst thing isn't dying sometimes, the worst thing 9 is being sick. Some of these people have been sick ever 10 since. We've heard of genetic defects. So I wouldn't 11 write it off as just nothing.

12 Same with Chernobyl. Who knows what the 13 effects are years later. Same with our downwinders from 14 the Nevada Test Site.

15 And I'd ask this question: If it's so safe 16 on the Test Site, why are Test Site workers suing the 17 government? Why are they asking for compensation? Are 18 they all lying? I doubt it.

19 Do you think some of them have thyroid 20 problems because they  I don't know if I'm correct,

21 but do you give potassium iodide to protect people's 22 thyroid in the event of a nuclear problem? They weren't 23 given  gosh, maybe they weren't given that. They 24 weren't even given good ventilators or anything.

25 But you'd have to say that those people 16 1 looking for compensation are a bunch of liars, and I 2 doubt that very much.

3 I don't know anything. I couldn't give you 4 a quoted speech on the stand, so I'm going to read from 5 the paper and quote a Notre Dame professor. The first 6 paragraph is: Critics are also troubled by the formula 7 that the EPA used to create the dose recommendations.

8 The formula calls for using an average to calculate the 9 dosage during the repository's first 10,000 years.

10 After that, the dosage is calculated using a median.

11 The first question I'd ask is: Why 12 different criteria? Writing in the publication, Science 13 and Engineering Ethics, the University of Notre Dame 14 professor, Christian Shroeder Forshette ( Phonetic) said,

15 Such a standard shows that even serious harms caused by 16 negligence or unfairness could be sanctioned if the rate 17 of harm was below the average.

18 She uses an example, a hypothetical release 19 that affected 715 people in a nearby town. She said, If 20 a baby received a fatal dose of 10,000 millirems, but 21 all the other residents each received 1 millirem, the 22 mean dose would be under 15 millirems. But that's an 23 extreme but it shows the fallacy.

24 While such a scenario is unlikely, it shows 25 the folly of the rule, she said. Under the EPA 17 1 standard, after 10,000 years, the dosage will be 2 calculated using the median, meaning limits would allow 3 nearly half of exposures to exceed any standard,

4 Shroeder Forshette said.

5 That means, in her theoretical town, 357 6 people could receive fatal doses of radiation if 7 everybody else received 350 millirems or less.

8 Now, I'm not a scientist, but that sounds 9 pretty good to me that you're not protecting the 10 population by your standards.

11 Shroeder Forshette said the EPA's rule would 12 allow radiation at 350 millirems a year, slightly higher 13 than the level that naturally exists in Denver. An 14 amount, she says, that causes about three percent of the 15 fatal cancers in the United States.

16 She said if the EPA permitted air polluters 17 to follow similar logic, they could save money and 18 increase profits at the expense of the public but claim 19 that victims' health risks were acceptable merely 20 because they were no worse than what some natural event 21 that caused. And that, critics say, is as much concern 22 a concern in 2005 as, perhaps, it will be in 12,310.

23 Think she makes a very good argument  and 24 this is one of your people saying it.

25 Now, talking about the population shift. We 18 1 keep hearing that Yucca Mountain is a hundred miles from 2 Las Vegas. Well, of course, it is. It's always going 3 to be a hundred miles from Las Vegas. The only thing is 4 our population has shifted.

5 The first woman who spoke talked about 6 Tule Springs. When I came here 13 years ago, there was 7 no population there. I mean, we had the  I forget the 8 name of the farm and a little museum and stuff. And now 9 there's homes going all the way up.

10 And further than that, we have the Paiute 11 Snow Mountain reservation, which is building up. And 12 the Paiutes are going to build more homes.

13 Then you go down further, you have Pahrump.

14 Pahrump is exploding. The population is closer.

15 You go to Indian Springs, population is 16 exploding there.

17 So although Yucca Mountain is a hundred 18 miles from Las Vegas all the time, there's more people 19 closer to the mountain  including Amargosa Valley 20 exploding.

21 So there's more and more people going to be 22 affected by this. They expect our population to go up 23 one million in eight years. I don't know, by then I 24 don't think any of us will be able to breathe.

25 Before we know what the politicians are 19 1 doing, they're trying to steal somebody else's water to 2 come in here. And there's a lot of ideas they came up 3 with, such as desalinization plants in California, that 4 we would pay for, and then we would get the Colorado 5 River water.

6 So I mean, there's no limitations on our 7 growth over here. That's what I'm saying. It could 8 just keep growing because politicians will figure out 9 some other way to get water off somebody else.

10 And no one takes this into account. We have 11 the Test Site here. We have been subjected for 41 years 12 to almost a thousand nuclear detonations. And we're 13 finding migration  I think 200 of them were below the 14 ground. We're finding migration off that site of new

15 of radiation. I think it was five miles or a little 16 further in one of the monitoring wells.

17 Well, that should be taken into 18 consideration. We have cynical politicians that say,

19 Oh, you're already polluted, so we'll give you more 20 pollution. But this should be a calculation to say that 21 the risk is greater now from Yucca Mountain because we 22 have the Test Site pollution to consider also.

23 And all of this is going to go down into 24 Amargosa Valley into Bad Water into Death Valley because 25 it's all downhill. It will end up in Bad Water. 20 1 As far as Nagasaki and Hiroshima, I mean 2 what about the Bikini Atoll where our soldiers and 3 sailors were stuck on ships within a mile, two miles?

4 It's like, Don't worry, nothing will harm you.

5 Are those troops that are putting in claims 6 today a bunch of liars? I don't think so.

7 What about the troops that were in the Test 8 Site, a mile from the Test Site, in a trench? I mean,

9 the most irresponsible things that I could ever think 10 of, to subject these troops to that kind of a risk. But 11 they did it. Are these people that are asking for 12 restitution a bunch of liars also?

13 I think  I personally don't agree with 14 nuclear power as the way for the future. We're given 15 subsidy  we're giving subsidies to these people. That 16 subsidy should be used because the first nuclear plant 17 won't go online for 10 years, and succeeding plants will 18 be way off into the future.

19 Well, that subsidy should be used for 20 alternative energy. Nevada is a beautiful place for 21 solar power. Hell, we could put solar panels everywhere 22 and get enough electricity, we could sell it to some 23 other state.

24 Geothermal, we're loaded with it, which is 25 another risk from volcanic activity because we do have 21 1 geothermal.

2 We're developing fuel cells. I think we're 3 crazy if we ever think about it for a car, but I could 4 see a bus and a truck operating with a fuel sell. Or a 5 fuel cell delivering electricity directly instead of a 6 power plant.

7 I guess that about covers it. But I think 8 this process, and this is my suspicion, is that this is 9 more political than scientific anymore.

10 I do not trust Congress. And President Bush 11 gave us two promises here in Nevada. In 2000 when he 12 was running, and I voted for him, he said sound science 13 is going to be the benchmark for this, for Yucca 14 Mountain.

15 And immediately Spencer Abraham came in here 16 and didn't even talk to us. And before you know it,

17 President Bush, in a half a day, made a wonderful 18 decision: Let's go ahead with the licensing.

19 Then in 2004 he told us the courts will 20 decide. But you and I know this is heading to Congress,

21 that's where it's heading to. And if he signs  if he 22 doesn't veto that bill  and I'm afraid he broke 23 another campaign promise. So I'm suspicious that this 24 is all political, more than scientific. And it's 25 supposed to be all science. 22 1 Thank you.

2 MR. SARNO: Thank you.

3 Bill Vasconey ( Phonetic).

4 MR. VASCONEY: I don't have any papers to 5 read.

6 Bill Vasconey. I'm a construction worker.

7 I've been here in Las Vegas since the early ' 60s. I'm 8 glad to see Tom Toomey was here today. He and I have 9 the same birthday, and don't we both look about 37 years 10 old?

11 I have grandchildren, too, so the Test Site 12 can't hurt me much.

13 I know there was folks affected at the Test 14 Site because of radiation. And for those I do care 15 about, feel for.

16 For four years I was a radiologic technician 17 and monitor and probably went on some 25 or 30 reentries 18 into areas that were detonated. I'd also like to say I 19 worked out there as a construction worker, electrician,

20 a general foreman, and probably participated in some 200 21 nuclear devices being detonated.

22 There was 928 nuclear devices detonated at 23 the Test Site. One hundred was atmospherics, the rest 24 were underground. Twenty four were with Great Britain 25 before they went to Australia. 23 1 One of the points I also want to make, it's 2 the same folks that are complaining about the dosage of 3 radiation they got, I worked with. When we went 4 underground in the tunnel, we put a wad of chew in our 5 mouth. When we weren't in the tunnel, we smoked two or 6 three packs of cigarettes a day. We had a beer on the 7 way to work, we had a beer on the way home, normally in 8 six packs, on the job.

9 So some of those same folks that were 10 affected with radiation, I just grin at them and say,

11 Hey, look who you're talking to. You tell me what 12 effect those two or three packs of cigarettes and that 13 chewing tobacco  which I got a chew in right now.

14 Anyway, yeah, there was folks affected.

15 I  you can talk Yucca Mountain all you want. I think 16 it's a necessity.

17 You can talk about your standards, your 18 regulations, your limitations. I wonder if they're safe 19 or acceptable. If they are safe and acceptable, we can 20 work with it. You know, the Test Site has a history of 21 working with those things nuclear and a safe run of 22 working with those things nuclear.

23 Think not that the technology of the Nevada 24 Test Site wasn't one of the big factors that stopped the 25 Cold War, as we knew it, with Russia. They couldn't 24 1 economically, moneywise, keep up with the technology 2 that was accumulated at the Nevada Test Site.

3 I'm the one that believes that what we're 4 doing at Yucca Mountain is doable. A thousand foot from 5 the surface to where they're going to store the 6 materials, a thousand foot to the water table.

7 I don't see it as a State's issue, it's a 8 national issue. We've got over a hundred nuclear 9 vessels in the Navy. Those spent fuel rods go to Idaho.

10 They don't appear in Idaho, they're shipped to Idaho.

11 But they come from Kittery, Maine, from Hawaii, Newport.

12 There's no problems there.

13 I give our educational system more credit.

14 You know, it was mentioned here that in a couple hundred 15 years, we don't have to worry about oil because all it's 16 going to be used for is a lubricant. There's an 17 exhaustible supply that's going to be gone.

18 Those things nuclear are going to be here 19 for the future. There's 400 nuclear reactors in the 20 world. We have 100 of them. England has 35. You can 21 take England, Ireland, Scotland, and Wales, and it will 22 fit inside the State of Nevada.

23 For those of you that say, Leave your 24 nuclear waste where it's at, we're only a hundred miles 25 from it. Take it and put it a hundred miles from your 25 1 largest metropolitan area. You'd be in another state.

2 You wouldn't be out of town, you'd be in another state.

3 We've got a position. The position is we 4 can do it and do it right at Nevada Test Site.

5 Our educational system, I give them more 6 credit. They know a lot more about what to do with this 7 nuclear waste. Because I see it as a renewable energy 8 resource. A renewable energy resource. It will work 9 for us.

10 I think it's ludicrous to judge what's going 11 to happen in one million years. Ten thousand years,

12 that was workable with me. You worry about the 13 population, who's going to feed the cows because the 14 hay's going to be contaminated at Yucca Mountain in 15 10,000 years?

16 All of the scientists can tell us and the 17 people that study such things, there's been 38 glacial 18 periods, six or eight which affected us down as far 19 south as New Jersey. You're going to have people from 20 Ottawa, Montreal, New York City, Philadelphia, they'll 21 all be down here.

22 Think about it, folks. Nuclear is the thing 23 of the future. We put it in the past, but those things 24 nuclear can help all of us.

25 And one more thing. I just read an article, 26 1 they call it the " beta battery." Beta battery. And 2 what it's off of a derivative of hydrogen, which is 3 tritium, which this gentleman is talking about that 4 mentioned that there was radiation coming off the Test 5 Site, that's tritium. Got a half life of 12.6 years.

6 It's a good source of seeing where the water flow is,

7 which that's a closed water aquifer.

8 But back to this beta volte battery. It's 9 250 times more powerful than a regular battery, 250 10 times more powerful than the batteries we know today.

11 And it's worked with tritium.

12 Those electrons and that battery, if that 13 was  if that was looked at and improved would be a 14 hell of a way to power cars. Hell of a way to power 15 cars.

16 If you got any questions of me, you know we 17 always say, Make your comments, et cetera. Well, I've 18 made some comments, but do you have any questions of 19 somebody who's lived here for 40 years and worked at the 20 Nevada Test Site for 17 years? You got any questions?

21 You know this is the bad part of this whole 22 presentation thing. You need to ask us questions, too,

23 so we can be responsive to them.

24 MR. SARNO: Yes. And we agree with you,

25 which is why we've designed the meetings to have more 27 1 informal time beforehand. But right now I need to  I 2 need to go with the hearing format.

3 MR. VASCONEY: A new speaker. Okay, you've 4 got it, partner.

5 MR. SARNO: I encourage you to stick around 6 and folks will chat with you after this is over.

7 Are there any other individuals who want to 8 speak?

9 Yes, sir, come on up. Please state your 10 name for the record.

11 MR. FILLSKAWE: Yes. My name is 12 Arthur Fillskawe ( Phonetic) and I represent the 13 Las Vegas Paiute tribe here.

14 And I really have two points I'd like to 15 make on their behalf. It's related to Executive Order 16 No. 13,175 that's entitled Consultation and Coordination 17 with Indian Tribal Government.

18 Down in the reading a little bit, in the 19 paragraph that says: This proposed rule does not have 20 tribal implication as specified in executive order. The 21 rule proposals today will regulate only that DOE owns 22 the land owned by the federal government. The rule 23 proposed today does not have substantial direct affect 24 on one or more Indian tribes.

25 Well, I wrote here two words. I strongly 28 1 disagree with that because in the valley here, we have 2 Las Vegas Paiute tribe, and close to us, we have Moapa 3 Paiute tribe. And in this region, Region 9 of the EPA,

4 we have 154 Indian tribes. Some of them close to 5 Death Valley, some of them north of here. And if we 6 consider the State of Nevada, according to the law, the 7 Nuclear Waste Policy Act, as affected state, some of 8 these tribes are affected tribes.

9 Now, the DOE doesn't want to address that 10 point because you have to go through a whole lot of 11 paperwork to get the Secretary of Interior to declare a 12 state as affected tribe.

13 The tribes cannot move from their land.

14 Maybe I can move from Clark County to Washington D. C.,

15 I'd love to, to buy a house there. But you can, but the 16 tribes who live on Snow Mountain reservation live there,

17 and they're going to live there. They have no choice.

18 If they want to live someplace else, then they have to 19 find their own trust land. So that's really the point.

20 So somehow, somewhere this point needs to be 21 addressed. By saying that executive order and the 22 location of Yucca Mountain does not impact the tribe,

23 the tribes in this region are going to be affected one 24 way or the other: Healthwise, transportationwise,

25 delegationwise. 29 1 And I think the tribes are now in a position 2 of  they don't want to be in a position of filing 3 lawsuits and so on, but if it might come to that, it may 4 come to that, the person from the General Counselor 5 might hear me.

6 The second point is, I'd like to say on 7 their behalf, is the U. S. Government has a trust 8 responsibility. They have the trustee, they are the 9 trustee of all these Native American Indian tribes. And 10 on behalf of the Las Vegas Paiute tribe, I think I'd 11 like to make sure that, in the records, this trust 12 responsibility is being conducted in terms of 13 consultation.

14 So if we have the privilege, as a citizen of 15 the State of Nevada, to have a public meeting like you 16 guys, so I may suggest that you need to start to think 17 about having public meetings with the government of and 18 the people of the Native American tribes. All you have 19 to do is just go on the Internet and find out where all 20 the tribes are located around here. They are listed.

21 There are 600 federally recognized tribes.

22 But at least you need to look at that particular 23 location. And maybe presentation to this and addressing 24 their comment as a Native American, the way they see it.

25 They have been here on this land for ten, 30 1 15,000 years. They have a different perspective than 2 the white man. I may disagree with the rules about 3 white, but the Native American and Elders who are 4 staying here  we have about one or two or three

5 they can tell you the stories. They might not have the 6 written hieroglyphic like the Egyptians have, or you 7 have or whatever, it might not last, but they have the 8 stories that have passed on generation upon generation.

9 So you might hear a different perspective.

10 So thank you for coming and thank you for 11 your time.

12 MR. SARNO: Thank you very much.

13 MR. FILLSKAWE: I appreciate it.

14 MR. SARNO: Yes, sir.

15 MR. VASCONEY: I don't think I used my 16 entire ten minutes. I'd just like to explain one thing.

17 MR. SARNO: Can I  can I

18 MR. VASCONEY: First of all

19 MR. SARNO: Can you hold there just for one 20 second? I will let you do that, but I want to want to 21 see if anybody else

22 MR. VASCONEY: Oh, I'm sorry.

23 MR. SARNO:  new wants to go first.

24 Yes, sir. Please state your name for the 25 record. 31 1 MR. IZEN: Ray Izen, I z e n.

2 I'm a resident of Clark County. Obviously,

3 my voice is from New York. I'm also a transplant here 4 from my retirement from my second career after I retired 5 from my first.

6 But I was out at Yucca Mountain last 7 Saturday. I was on the tour that they offer 8 periodically and saw it, a good trip, easy way out.

9 My comment is, I have lived here, my 10 grandchildren live here. And the next million years,

11 whatever we do will be affected.

12 Obviously, science is good, but we don't 13 have a million years of science behind us. We have very 14 little, percentagewise, of science behind us dealing 15 with what we're talking about. So we're talking about 16 computer models or whatever else we may be using to 17 determine what we'll coin a scientific fact.

18 To the two gentlemen who spoke that they 19 worked at the Test Site who were exposed to radiation,

20 as opposed to people who get radiation from other 21 sources, whether it be medical  from the use of 22 medicine as a way of killing cancers or things that 23 people are exposed to, good or bad, maybe they should 24 think about donating their bodies to science somewhere 25 along the line because I think they are in a unique 32 1 position that they were not affected by this radiation.

2 Maybe there's something in their genes, in their 3 heritage, that made it that way. They're physically fit 4 just about eat anything or whatever else.

5 But for the average person who is exposed to 6 that much radiation, it's not good. We know that as 7 fact.

8 I don't want to be glowing in the dark. I 9 don't want the City of Las Vegas to be glowing in the 10 dark, whether it be the next ten years, twenty years,

11 thousand years, million years.

12 According to some of the scientists up 13 there, today we are at a higher level of radiation here 14 in Las Vegas, 350 millirems or whatever it says up 15 there, which is above the normal for other places.

16 Maybe that's because we have some effects that were 17 blessed on us during the Test Site days when people were 18 standing out there watching it, something their kids 19 will have to watch an above ground test from miles away.

20 If thoughts of what we do  I'm from 21 New York, obviously. One of the things that happened 22 back there is they built an atomic power plant

23 Shoreham Wading River. It never opened. Someone out at 24 the Test Site said, What do you mean it never opened?

25 It never opened. They started to warm it up, test it 33 1 out and everything else, and they discovered that 2 there's no escape plan, there's no way of 3 getting evacuated from Long Island.

4 So there's a dead plant sitting there,

5 mothballed now, but absolutely useless. It was never 6 used.

7 People have thought about it afterwards.

8 Think about it before we transport all that radiation 9 across the states. Do whatever we have to do to get it 10 here or close to us. Hopefully, not through Las Vegas.

11 Think about the growing population. When 12 this project started over 20 years ago, population of 13 Las Vegas was probably under 200,000. Today, over a 14 million. So it's a growing population, booming, with a 15 high rise  again, you read our local newspapers, the 16 high rises planned for Las Vegas. Our population will 17 probably double within the next ten years.

18 That's close, too close for comfort. Leave 19 it where it is. They're not putting it in Texas,

20 they're not putting it in New York. These other places 21 across the country have taken advantage of it. Let them 22 hold it there until we find something we can to do with 23 it.

24 Thank you.

25 MR. SARNO: Thank you. 34 1 Are there any additional individuals who 2 wish to provide testimony?

3 Yes, sir. Please come up.

4 MR. ANDERSON: My name is Kenny Anderson.

5 I'm from the Las Vegas Paiute Tribe. I'm the 6 environmental manager and cultural representative for 7 the tribe. I work with the EPA and for the tribe as the 8 EPA person.

9 But what I'd like to say is a lot of the 10 people that have worked at the Test Site, some of them 11 were my relatives, are not here anymore because of the 12 radiation.

13 Most of my people who are like in this area 14 are downwinders are not here no more. My mother was a 15 downwinder. She's not here no more. She would be here 16 if she could, but she's gone.

17 What I'd like to say is that we need to

18 or the EPA needs to actually protect not only the 19 tribes, we need to protect all of our country here by 20 not  or by going by your rules and sticking to them,

21 not, you know, false readings in our safety.

22 We are a small tribe. Las Vegas Paiute 23 tribe is less than 70 people. When we're gone, we're 24 extinct. There's no more. And just like a lot of 25 things at the Test Site that's not there anymore, like 35 1 our homelands, we used to go up there and pick pine 2 nuts, hunt. We can't do that no more because it's all 3 contaminated.

4 Plus, it's the test site, we can't go there 5 anyway, but that is one of the lands that we lived in.

6 At the Las Vegas Paiute tribe that I'm a 7 member of and a counsel person for the tribe, we oppose 8 the Test Site  Repository Nuclear Test Site.

9 Nobody knows, like we say, in a million 10 years what's going to happen. And I know there's a lot 11 of people who have  who are educated and talk about 12 this and that. But we don't know. I mean, no one knows 13 in 100, 300, 400 years from now what's going to happen.

14 Who knows if we'll all be here?

15 But still, we need to protect the public 16 plus the ground water that comes through the Test Site.

17 It comes all the way to Vegas. So we need to make sure 18 that that doesn't  is polluted with radiation.

19 And just thank you for letting us talk and 20 letting me talk but, please, you know, help us and make 21 it a better  or make a very good judgment to all of us 22 American people plus the natives too.

23 Thank you.

24 MR. SARNO: Thank you very much.

25 Any additional comments before I get back to 36 1 Mr. Perna?

2 Yes, sir.

3 MR. PERNA: Just yesterday we had a meeting 4 with the Clark County Yucca Mountain Advisory Committee.

5 We have a member, Calvin Myers ( Phonetic) who is from 6 the Moapa Paiute tribe. And he talked about the same 7 subject as the two gentlemen from the Las Vegas Paiutes.

8 And that's the fact that they're sovereign nations. But 9 yet their opinions aren't considered.

10 The government is making  it's doing what 11 they've always done, it's disregarding the Indians,

12 breaking treaties.

13 And there is a lawsuit by an Indian tribe.

14 The north  the Western Shoshone nation is suing the 15 federal government under the 1863 Ruby Valley Treaty.

16 And the Ruby Valley Treaty covers lands, covers Yucca 17 Mountain, itself, and lands into a couple of states. As 18 usual, the government is breaking their promise to the 19 Indians. In fact, they are trespassing on Western 20 Shoshone lands with Yucca Mountain.

21 But, unfortunately, the State of Nevada 22 never really backed them up. I wish they had. In fact,

23 we're not even a party to the lawsuit, and we should be.

24 So there is a lawsuit by the Western 25 Shoshone. 37 1 Thank you.

2 MR. SARNO: Thank you.

3 Yes, sir.

4 MR. VASCONEY: The only reason why I'm 5 coming up, the man said something about what I said 6 wasn't the truth. I don't think he was listening to 7 what I said.

8 It was a crying shame that we had an atomic 9 bomb over any country's metropolis and kill all them 10 people. I didn't say that. It's a crying shame, maybe 11 we should have dropped the bomb out in the middle of the 12 ocean and showed the Japanese that they didn't have to 13 bomb the city.

14 What I said is, after it was bombed  so 15 you understand me  they built a city there, probably a 16 half a million people. And they're living there right 17 now. We're talking about the Indians worrying about 18 being radiation and what have you, how about them people 19 over there that's living right there?

20 Talking about Fred Toomey. This man says 21 I'm  maybe I could donate my body because I'm rare.

22 Well, I got news for him, I can probably bring in about 23 40 people my age, right around that, that worked out 24 there that had no trouble at all. Just to get him clear 25 on this, I'm 80. I can name one, two, three, four  38 1 five guys that are 84 years old.

2 And for all your information, the mustache,

3 we went in there three weeks after, in the same area 4 where the atomic bomb was blasted into the ground  so 5 you understand that  500 feet away, not over Indian 6 land or no place else. We went in there and went to 7 work. We had two badges, one badge went out here, the 8 other badge was a pencil. When we came in, and we drove 9 out, in our cars by the way.

10 Jack Harren ( Phonetic) which he's still 11 alive, he's 84, he had a mustache. Well, they checked 12 the radiation and that thing would glow every time. He 13 had to go in and had to scrub that mustache, believe 14 this or not, and how it was checked.

15 All I'm saying is we worked there, we're no 16 different than anybody else. And I can pretty well 17 prove it with  you know, you get guys 84 years old, I 18 could name one, two, three  four: Harvey Watt 19 ( Phonetic), Jack Harren, Bickerton ( Phonetic),

20 Bertie Jackson, myself. You know, these guys are old 21 men.

22 We worked  and the reason why I picked 23 that area, I worked on every tower up in that area. I 24 happened to be the steward up there at the time and had 25 to go into every one of those areas. 39 1 So if you're talking about  I'm not 2 talking about it's not dangerous. I'm not talking about 3 that. I've got friends that are Indians, all I'm saying 4 is it's not affecting anybody. If it didn't kill some 5 of us when we worked in there 500 feet  500 feet.

6 When the atomic bomb blast blows up, it just 7 blows  it didn't put no hole in the ground or 8 anything. All it does was just radiation, turned the 9 sand to green and whatever the case may be.

10 If we lived through that, and they can build 11 metropolis over there in Japan, we better be like the 12 rest of the world, think about using atomic energy to 13 live.

14 This town right here, the man just said,

15 could be a million, two million people. This is getting 16 crowded. Where are they going to get their electricity 17 at? From the oil? We need an atomic plant put here 18 near this town right here.

19 Now, if it blows up, it could be like 20 Russia, atomic  kill a whole bunch of us. So we 21 better figure out how to make it safe, how to protect it 22 from the terrorists, and whatever the case may be.

23 But what I'm telling you is God's truth. We 24 worked up there. I worked up there through every one of 25 those atomic towers up there. There's still iron up 40 1 there that some of the towers, the dead men on Area 3,

2 where them guys worked up there for 25 years. They're 3 not dying.

4 You know, they're  everybody blames the 5 work that was Mercury. There's nobody ever worked up in 6 Mercury die a natural cancer death. They died because 7 of Mercury.

8 That's all I got to say. Thank you.

9 MR. SARNO: Thank you very much. Any 10 individuals that haven't had an opportunity?

11 We'll be here another five or ten minutes 12 until the stated end time. And if anybody wants to come 13 up during that time, feel free.

14 UNIDENTIFIED ATTENDEE: I'd just like to add 15 one thing in case people weren't aware of it. When 16 these hearings started, it seems like forever ago, the 17 intent of DOE at that point in time was to build the 18 Yucca Mountain with the spent fuel rods inside. Gummite 19 it, cement it, and walk away and leave it. Put a 20 granite plaque on top in 40 different languages and tell 21 people what was buried there.

22 It was because of the public, people attend 23 these kind of meetings, that it is now 300 years it will 24 be monitored. It will be monitored for water and for 25 radiation. It will be monitored  the canisters will 41 1 be monitored. For 300 years it will be retrievable.

2 Again, in case our educational system 3 catches up with those things nuclear, and it's 4 acceptable by the public. And those all being good 5 things.

6 Now, today's meeting was based on the 7 public, I know, the public's dose rates and how they 8 will be acceptable. And one would think, well, maybe we 9 ought to do away with mammograms, and maybe we ought to 10 do away with cancer research and chest x rays, of which 11 I've had several, that are more than the limits that are 12 being sent right now for Yucca Mountain. That is not a 13 good  that is not a good trend, not a good way to 14 think.

15 The other thing would be during that 300 16 years and the fact that there will be workers there to 17 work under different standards.

18 I always ask what the dose rate is going to 19 be for the truck driver, the guy that's driving the 20 truck with the radiation in the back. You always worry 21 about what's going to happen to the cow, but what about 22 that truck driver that's sitting in the front seat 23 changing gears? We've got limits for him too.

24 Those folks working with the canisters 25 placing them underground or taking them back up, do you 42 1 want a survey done? Those are the people you ought to 2 concentrate on. They're working with those items,

3 they're exposed to them on a daily basis just like the 4 workers at the Nevada Test Site.

5 We had a worker's exposure rated. And you 6 can always go both ways. I'm 84, he died when he was 7 23. Well, I can pick up any daily newspaper and see the 8 same thing. There's a hell of a lot more people killed 9 with lightning, car wrecks, cancer, et cetera, than 10 there are because of those things nuclear.

11 Look at how many thousands of young men come 12 back from serving on any number our 80 nuclear powered 13 submarines or our 11 nuclear powered aircraft carriers 14 that don't even think about those things nuclear because 15 they've worked with them and they know they're safe.

16 MS. COTSWORTH: Thank you.

17 MR. SARNO: Thank you very much.

18 I do encourage you, if you brought any 19 written comments, please leave them in the box over 20 there, and they will be entered into the record as well 21 as take advantage of the other ways to get into the 22 record.

23 24 25


[Federal Register Volume 87, Number 155 (Friday, August 12, 2022)]
[Notices]
[Page 49819]
[FR Doc No: 2022-17353]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

Combined Notice of Filings #1

    Take notice that the Commission received the following electric
rate filings:

    Docket Numbers: ER10-2394-007; ER10-2395-007; ER11-3642-021.
    Applicants: Tanner Street Generation, LLC, Colorado Power Partners,
BIV Generation Company, L.L.C.
    Description: Notice of Change in Status of BIV Generation Company,
L.L.C., et al.
    Filed Date: 8/8/22.
    Accession Number: 20220808-5034.
    Comment Date: 5 p.m. ET 8/29/22.

    Docket Numbers: ER11-4666-005; ER11-4667-005; ER11-4670-010; ER12-
295-004; ER13-1368-002.
    Applicants: NaturEner Wind Watch, LLC, NaturEner Rim Rock Wind
Energy, LLC, NaturEner Power Watch, LLC, NaturEner Glacier Wind Energy
2, LLC, NaturEner Glacier Wind Energy 1, LLC.
    Description: Notice of Non-Material Change in Status of NaturEner
Glacier Wind Energy 1, LLC, et al.
    Filed Date: 8/2/22.
    Accession Number: 20220802-5180.
    Comment Date: 5 p.m. ET 8/23/22.

    Docket Numbers: ER22-2618-000.
    Applicants: BIV Generation Company, L.L.C.
    Description: Sec.  205(d) Rate Filing: Market-Based Rate Tariff
Revisions to be effective 8/9/2022.
    Filed Date: 8/8/22.
    Accession Number: 20220808-5018.
    Comment Date: 5 p.m. ET 8/29/22.

    Docket Numbers: ER22-2619-000.
    Applicants: Colorado Power Partners.
    Description: Sec.  205(d) Rate Filing: Market-Based Rate Tariff
Revisions to be effective 8/9/2022.
    Filed Date: 8/8/22.
    Accession Number: 20220808-5019.
    Comment Date: 5 p.m. ET 8/29/22.

    Docket Numbers: ER22-2620-000.
    Applicants: Avista Corporation.
    Description: Sec.  205(d) Rate Filing: Avista Corp Engineering
Service Agreement RS T1180 to be effective 9/7/2022.
    Filed Date: 8/8/22.
    Accession Number: 20220808-5064.
    Comment Date: 5 p.m. ET 8/29/22.

    Docket Numbers: ER22-2621-000.
    Applicants: Tri-State Generation and Transmission Association, Inc.
    Description: Sec.  205(d) Rate Filing: Amendment to Tri-State WAPA-
RMR Balancing Authority Service Agreement to be effective 7/7/2022.
    Filed Date: 8/8/22.
    Accession Number: 20220808-5112.
    Comment Date: 5 p.m. ET 8/29/22.

    Docket Numbers: ER22-2622-000.
    Applicants: Chaparral Springs, LLC.
    Description: Baseline eTariff Filing: Market-Based Rate Application
to be effective 10/8/2022.
    Filed Date: 8/8/22.
    Accession Number: 20220808-5125.
    Comment Date: 5 p.m. ET 8/29/22.

    The filings are accessible in the Commission's eLibrary system
(https://elibrary.ferc.gov/idmws/search/fercgensearch.asp) by querying
the docket number.
    Any person desiring to intervene or protest in any of the above
proceedings must file in accordance with Rules 211 and 214 of the
Commission's Regulations (18 CFR 385.211 and 385.214) on or before 5
p.m. Eastern time on the specified comment date. Protests may be
considered, but intervention is necessary to become a party to the
proceeding.
    eFiling is encouraged. More detailed information relating to filing
requirements, interventions, protests, service, and qualifying
facilities filings can be found at: http://www.ferc.gov/docs-filing/efiling/filing-req.pdf. For other information, call<PHONE_NUMBER>
(toll free). For TTY, call<PHONE_NUMBER>.

    Dated: August 8, 2022.
Debbie-Anne A. Reese,
Deputy Secretary.
[FR Doc. 2022-17353 Filed 8-11-22; 8:45 am]
BILLING CODE 6717-01-P


[Federal Register Volume 83, Number 233 (Tuesday, December 4, 2018)]
[Rules and Regulations]
[Pages 62451-62452]
[FR Doc No: 2018-26195]

=======================================================================
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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

14 CFR Part 71

[Docket No. FAA-2018-0034; Airspace Docket No. 17-ANM-34]
RIN 2120-AA66

Establishment of Class E Airspace; Kemmerer, WY

AGENCY: Federal Aviation Administration (FAA), DOT.

ACTION: Final rule.

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SUMMARY: This action amends Class E surface area airspace at Kemmerer
Municipal Airport, Kemmerer, WY, by enlarging the airspace area north
of the airport and removing the Notice to Airmen (NOTAM) part-time
status for the airspace. Also, this action reduces Class E airspace
extending upward from 700 feet above the surface and removes Class E
airspace extending upward from 1,200 feet above the surface.

DATES: Effective 0901 UTC, February 28, 2019. The Director of the
Federal Register approves this incorporation by reference action under
Title 1, Code of Federal Regulations, part 51, subject to the annual
revision of FAA Order 7400.11 and publication of conforming amendments.

ADDRESSES: FAA Order 7400.11C, Airspace Designations and Reporting
Points, and subsequent amendments can be viewed online at http://www.faa.gov/air_traffic/publications/. For further information, you can
contact the Airspace Policy Group, Federal Aviation Administration, 800
Independence Avenue SW, Washington, DC 20591; telephone: (202) 267-
8783. The Order is also available for inspection at the National
Archives and Records Administration (NARA). For information on the
availability of this material at NARA, call<PHONE_NUMBER>, or go to
https://www.archives.gov/federal-register/cfr/ibr-locations.html.
    FAA Order 7400.11, Airspace Designations and Reporting Points, is
published yearly and effective on September 15.

FOR FURTHER INFORMATION CONTACT: Bonnie Malgarini, Federal Aviation
Administration, Operations Support Group, Western Service Center, 2200
S 216th Street, Des Moines, WA 98198; telephone<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION:

Authority for This Rulemaking

    The FAA's authority to issue rules regarding aviation safety is
found in Title 49 of the United States Code. Subtitle I, Section 106
describes the authority of the FAA Administrator. Subtitle VII,
Aviation Programs, describes in more detail the scope of the agency's
authority. This rulemaking is promulgated under the authority described
in Subtitle VII, Part A, Subpart I, Section 40103. Under that section,
the FAA is charged with prescribing regulations to assign the use of
airspace necessary to ensure the safety of aircraft and the efficient
use of airspace. This regulation is within the scope of that authority
as it amends Class E airspace at Kemmerer Municipal Airport, Kemmerer,
WY, to accommodate airspace redesign in support of IFR operations at
the airport.

History

    The FAA published a notice of proposed rulemaking in the Federal
Register (83 FR 21970; May 11, 2018) for Docket No. FAA-2018-0034 to
amend Class E airspace at Kemmerer Municipal Airport, Kemmerer, WY, to
accommodate airspace redesign in support of IFR operations at the
airport. Interested parties were invited to participate in this
rulemaking effort by submitting written comments on the proposal to the
FAA. No comments were received.
    Class E airspace designations are published in paragraph 6002, and
6005, respectively, of FAA Order 7400.11C, dated August 13, 2018, and
effective September 15, 2018, which is incorporated by reference in 14
CFR 71.1. The Class E airspace designation listed in this document will
be published subsequently in the Order.

Availability and Summary of Documents for Incorporation by Reference

    This document amends FAA Order 7400.11C, Airspace Designations and
Reporting Points, dated August 13, 2018, and effective September 15,
2018. FAA Order 7400.11C is publicly available as listed in the
ADDRESSES section of this document. FAA Order 7400.11C lists Class A,
B, C, D, and E airspace areas, air traffic service routes, and
reporting points.

The Rule

    The FAA is amending Title 14 Code of Federal Regulations (14 CFR)
part 71 by modifying the north extension of the Class E surface area
airspace at Kemmerer Municipal Airport, Kemmerer, WY, to within 1.8
miles (from 1 mile) each side of the 354[deg] bearing (from the
360[deg] bearing) from the airport extending from the 4.3-mile radius
of the airport to 7.7 miles (from 7 miles) north of the airport. Also,
the NOTAM part-time status for the airspace would be removed to make
the airspace effective continuously.
    The FAA also amends the Class E airspace extending upward from 700
feet above the surface to within a 4.3-mile radius of Kemmerer
Municipal Airport from the airport 035[deg] bearing clockwise to the
airport 006[deg] bearing, and within a 9.5 mile radius of the airport
from the airport 006[deg] bearing clockwise to the airport 035[deg]
bearing, and within 2.2 miles each side of the 354[deg] bearing from
the airport extending from the 4.3-mile radius of the airport to 15.9
miles north of the airport, and within 2.2 miles each side of the
172[deg] bearing from the airport extending from the 4.3-mile radius of
the airport to 7.4 miles south of the airport (from within the 8-mile
radius of Kemmerer Municipal Airport, and within 4 miles each side of
the 174[deg] bearing from the airport extending from the airport 11
miles south of the airport, and within 3.6 miles each side of the
354[deg] bearing from the airport extending from the airport to 16.1
miles northwest of the airport). Additionally, the Class E airspace
extending upward from 1,200 feet above the surface is removed because
sufficient airspace exists (Wasatch and Jackson Class E airspace areas)
and duplication is not necessary. This airspace redesign is necessary
for the safety and management of IFR operations at the airport.

Regulatory Notices and Analyses

    The FAA has determined that this regulation only involves an
established body of technical regulations for which frequent and
routine amendments are necessary to keep them operationally current, is
non-controversial and unlikely to result in adverse or negative
comments. It, therefore: (1) Is not a ``significant regulatory action''
under Executive Order 12866; (2) is not a ``significant rule'' under
DOT Regulatory Policies and Procedures (44 FR 11034; February 26,
1979); and (3) does not warrant preparation of a Regulatory Evaluation
as the anticipated impact is so minimal. Since this is a routine matter
that only affects air traffic procedures and air navigation, it is
certified that this rule, when promulgated, will not have a significant
economic impact on a substantial number of small entities under the
criteria of the Regulatory Flexibility Act.

Environmental Review

    The FAA has determined that this action qualifies for categorical
exclusion under the National Environmental Policy Act in accordance
with FAA Order 1050.1F, ``Environmental Impacts: Policies and
Procedures,'' paragraph 5-6.5a. This airspace action is not expected to
cause any potentially significant environmental impacts, and no
extraordinary circumstances exist that warrant preparation of an
environmental assessment.

Lists of Subjects in 14 CFR Part 71

    Airspace, Incorporation by reference, Navigation (air).

Adoption of the Amendment

    In consideration of the foregoing, the Federal Aviation
Administration amends 14 CFR part 71 as follows:

PART 71--DESIGNATION OF CLASS A, B, C, D, AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND REPORTING POINTS

0
1. The authority citation for part 71 continues to read as follows:

    Authority: 49 U.S.C. 106(f), 106(g); 40103, 40113, 40120; E.O.
10854, 24 FR 9565, 3 CFR, 1959-1963 Comp., p. 389.

Sec.  71.1   [Amended]

0
2. The incorporation by reference in 14 CFR 71.1 of FAA Order 7400.11C,
Airspace Designations and Reporting Points, dated August 13, 2018, and
effective September 15, 2018, is amended as follows:

Paragraph 6002 Class E Airspace Areas Designated as Surface Areas.

* * * * *

ANM WY E2 Kemmerer, WY [Amended]

Kemmerer Municipal Airport, WY
    (Lat. 41[deg]49'27'' N, long. 110[deg]33'25'' W)

    Within a 4.3-mile radius of Kemmerer Municipal Airport, and
within 1.8-miles each side of the 354[deg] bearing from the airport
extending from the 4.3-mile radius of the airport to 7.7 miles north
of the airport.

Paragraph 6005 Class E Airspace Areas Extending Upward From 700
Feet or More Above the Surface of the Earth.

* * * * *

ANM WY E5 Kemmerer, WY [Amended]

Kemmerer Municipal Airport, WY
    (Lat. 41[deg]49'27'' N, long. 110[deg]33'25'' W)

    That airspace extending upward from 700 feet above the surface
within a 4.3-mile radius of Kemmerer Municipal Airport from the
airport 035[deg] bearing clockwise to the airport 006[deg] bearing,
and within a 9.5-mile radius of the airport from the airport
006[deg] bearing clockwise to the airport 035[deg] bearing, and
within 2.2 miles each side of the 354[deg] bearing from the airport
extending from the 4.3-mile radius of the airport to 15.9 miles
north of the airport, and within 2.2 miles each side of the 172[deg]
bearing from the airport extending from the 4.3-mile radius of the
airport to 7.4 miles south of the airport.

    Issued in Seattle, Washington, on November 20, 2018.
Shawn M. Kozica,
Group Manager, Operations Support Group, Western Service Center.
[FR Doc. 2018-26195 Filed 12-3-18; 8:45 am]
BILLING CODE 4910-13-P