[Federal Register Volume 80, Number 21 (Monday, February 2, 2015)]
[Rules and Regulations]
[Pages 5483-5485]
[FR Doc No: 2015-01920]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 62

[EPA-R10-OAR-2013-0567; FRL-9922-34-Region 34]

Approval and Promulgation of State Plans for Designated
Facilities and Pollutants; Idaho and Oregon: Negative Declarations

AGENCY: Environmental Protection Agency.

ACTION: Final rule; notice of administrative change.

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SUMMARY: The Environmental Protection Agency (EPA) is notifying the
public that it has received negative declarations from the States of
Idaho and Oregon for existing sewage sludge incinerator (SSI) units and
from the State of Idaho for existing commercial and industrial solid
waste incinerators (CISWI) units. A negative declaration is a
certification from a state under the Clean Air Act (CAA) that it has no
subject incinerator units under its jurisdiction.
    The EPA is also amending the Code of Federal Regulations (CFR) to
update the states and source categories for which the EPA has received
negative declarations. This is a non-regulatory action.

DATES: This action is effective March 4, 2015.

ADDRESSES: All documents in the docket are listed in the
www.regulations.gov index. Although listed in the index, some
information is not publicly available, e.g., confidential business
information or other information whose disclosure is restricted by
statute. Certain other material, such as copyrighted material, is not
placed on the Internet and will be publicly available only in hard
copy. Publicly available docket materials are available either
electronically at www.regulations.gov or in hard copy during normal
business hours at the Office of Air, Waste and Toxics, EPA Region 10,
1200 Sixth Avenue, Seattle, Washington, 98101.

FOR FURTHER INFORMATION CONTACT: Heather Valdez at<PHONE_NUMBER>,
<EMAIL_ADDRESS>or the above EPA, Region 10 address.

SUPPLEMENTARY INFORMATION: Throughout this document whenever ``we,''
``us,'' or ``our'' is used, it is intended to refer to the EPA.
Information is organized as follows:

Table of Contents

I. Background
II. Sewage Sludge Incinerators
    A. Idaho
    B. Oregon
III. Commercial and Industrial Solid Waste Incinerators
    A. Idaho
IV. Final Action
V. Statutory and Executive Order Reviews

I. Background

    Sections 111(d) and 129 of the CAA require submittal of plans to
control certain pollutants (designated pollutants) at existing solid
waste combustor facilities (designated facilities) whenever standards
of performance have been established under section 111(b) for new
sources of the same source category and the EPA has established
emission guidelines for such existing sources. When designated
facilities are located in a state, the state must then develop and
submit a plan for the control of the designated pollutant. Subpart B of
40 CFR part 60 establishes procedures to be followed and requirements
to be met in the development and submission of state plans for
controlling designated pollutants from designated facilities

under sections 111(d) and 129 of the CAA. Also, Subpart A of 40 CFR
part 62 provides the procedural framework for the submission of these
plans.
    If a state fails to submit a satisfactory plan, the CAA provides
the EPA the authority to prescribe a plan for regulating the designated
pollutants at the designated facilities. The EPA-prescribed plan, also
known as a Federal plan, is often delegated to states with designated
facilities but no EPA-approved state-specific plan. If no such
designated facilities exist within a state's jurisdiction, a state may
submit to the EPA a letter of certification to that effect (referred to
as a negative declaration) in lieu of a state plan to satisfy the
state's obligation. 40 CFR 60.23(b) and 62.06. A negative declaration
exempts the state from the requirement to submit a CAA section 111(d)/
section 129 plan for that designated pollutant and source category. 40
CFR 60.23(b).

 II. Sewage Sludge Incinerators

    On March 21, 2011 (76 FR 15372), the EPA promulgated new source
performance standards for new SSI units, 40 CFR part 60, subpart LLLL,
and emission guidelines for existing SSI units, 40 CFR part 60, subpart
MMMM. SSI units are located at wastewater treatment facilities and are
designed to combust domestic sewage sludge for the purpose of reducing
its volume. 40 CFR 60.5065 and 60.5250. Subpart MMMM requires that
state plans address those existing SSI units that commenced
construction on or before October 14, 2010, or for which modification
was commenced on or before September 21, 2011, with limited exceptions
as provided in paragraph 40 CFR 60.5065. 40 CFR 60.5060.
    As discussed above, however, if there are no designated facilities
in the state, the state may submit a negative declaration in lieu of a
state plan. The EPA will provide public notice of receipt of a state's
negative declaration with respect to SSI. 40 CFR 60.5030. If any
subsequently identified SSI unit for which construction commenced on or
before October 14, 2010, is found in a state that had submitted a
negative declaration, the Federal plan implementing the emission
guidelines for subpart MMMM would automatically apply to that SSI unit
until a state plan is approved. 40 CFR 60.5030.

A. Idaho

    On March 11, 2013, the Idaho Department of Environmental Quality
(IDEQ) submitted a negative declaration certifying that there are no
SSI units subject to the requirements of sections 111(d) and 129 of the
CAA operating in the State of Idaho. As provided in 40 CFR 60.5030, the
EPA is providing public notice of the IDEQ's negative declaration with
respect to SSI. If, at a later date, an existing SSI unit subject to
the applicability provisions of subpart MMMM is found in Idaho, the
Federal plan implementing the emission guidelines for subpart MMMM
would automatically apply to that SSI unit until a state plan for Idaho
is approved.\1\
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    \1\ The EPA does not consider the IDEQ's negative declaration to
extend to areas on any Indian reservation land or to any other area
where the EPA or an Indian tribe has demonstrated that a tribe has
jurisdiction in Idaho. SSI units in such areas, if any, are subject
to the Federal plan implementing the emission guidelines for subpart
MMMM.
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B. Oregon

    On July 2, 2014, the Oregon Department of Environmental Quality
(ODEQ) submitted a negative declaration certifying that there are no
SSI units subject to the requirements of sections 111(d) and 129 of the
CAA operating in the State of Oregon, including the jurisdiction of the
Lane Regional Air Protection Agency. As provided in 40 CFR 60.5030, the
EPA is providing public notice of the ODEQ's negative declaration with
respect to SSI. If, at a later date, an existing SSI unit subject to
the applicability provisions of subpart MMMM is found in Oregon, the
Federal plan implementing the emission guidelines for subpart MMMM
would automatically apply to that SSI unit until a state plan for
Oregon is approved.\2\
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    \2\ The EPA does not consider the ODEQ's negative declaration to
extend to areas on any Indian reservation land or to any other area
where the EPA or an Indian tribe has demonstrated that a tribe has
jurisdiction in Oregon. SSI units in such areas, if any, are subject
to the Federal plan implementing the emission guidelines for subpart
MMMM.
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III. Commercial and Industrial Solid Waste Incinerators

    On December 1, 2000 (60 FR 75338), the EPA promulgated new source
performance standards for new CISWI units, 40 CFR part 60, subpart
CCCC, and emission guidelines for existing CISWI units, 40 CFR part 60,
subpart DDDD. After a series of legal challenges, amendments, and
reconsiderations, the EPA promulgated the Reconsideration and Final
Amendments for CISWI units on February 7, 2013 (78 FR 9112).
    A CISWI unit is any distinct operating unit of any commercial or
industrial facility that combusts, or has combusted in the preceding
six months, any solid waste, as that term is defined in 40 CFR part
241, Solid Wastes Used As Fuels Or Ingredients In Combustion Units. 40
CFR 60.2875. A state plan must address all existing CISWI units that
commenced construction on or before June 4, 2010, or for which
modification or reconstruction was commenced on or before August 7,
2013, with limited exceptions as provided in paragraph 40 CFR 60.2555.
40 CFR 60.2550.
    As discussed above, however, if there are no designated facilities
in the state, the state may submit a negative declaration in lieu of a
state plan. The EPA will provide public notice of receipt of a state's
negative declaration with respect to CISWI. 40 CFR 60.2530. If any
subsequently identified existing CISWI unit is found in a state that
had submitted a negative declaration, the Federal plan implementing the
emission guidelines for subpart DDDD would automatically apply to that
CISWI unit until a state plan is approved. 40 CFR 60.2530.

A. Idaho

    On April 14, 2014, the Idaho DEQ submitted a negative declaration
certifying that there are no CISWI units subject to the requirements of
sections 111(d) and 129 of the CAA operating in the State of Idaho. As
provided in 40 CFR 60.2530, the EPA is providing public notice of
Idaho's negative declaration with respect to CISWI. If, at a later
date, an existing CISWI unit subject to the applicability provisions of
subpart DDDD is found in Idaho, the Federal plan implementing the
emission guidelines for subpart DDDD will automatically apply to that
CISWI unit until a state plan for Idaho is approved.\3\
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    \3\ The EPA does not consider IDEQ's negative declaration to
extend to areas on any Indian reservation land or to any other area
where the EPA or an Indian tribe has demonstrated that a tribe has
jurisdiction in Idaho. CISWI units in such areas, if any, are
subject to the Federal plan implementing the emission guidelines for
subpart DDDD.
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IV. Final Action

    The States of Idaho and Oregon have determined there are no SSI
units subject to the applicability provisions of the SSI emission
guidelines at 40 CFR part 60, subpart MMMM, within their respective
jurisdictions and have submitted negative declarations to that effect.
Idaho has also determined that there are no CISWI units subject to the
applicability provisions of 40 CFR part 60, subpart DDDD within the
State's jurisdiction and has submitted a negative declaration to that
effect. The EPA is providing notice of receipt of these negative
declarations. The EPA is also amending 40 CFR part 62, subpart N, to
reflect receipt of the negative declaration letters from the IDEQ for
the SSI and CISWI emission guidelines and

40 CFR part 62, subpart MM, to reflect the receipt of the negative
declaration letter from the ODEQ for the SSI emission guidelines. This
is a non-regulatory action.

V. Statutory and Executive Order Reviews

    Under the CAA, the Administrator's receipt of a negative
declaration under 42 U.S.C. 7411 and 7529 does not impose any legal
requirements. For that reason, this action:
     Is not a ``significant regulatory action'' subject to
review by the Office of Management and Budget under Executive Order
12866 (58 FR 51735, October 4, 1993);
     does not impose an information collection burden under the
provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);
     is certified as not having a significant economic impact
on a substantial number of small entities under the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.);
     does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4);
     does not have Federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999);
     is not an economically significant regulatory action based
on health or safety risks subject to Executive Order 13045 (62 FR
19885, April 23, 1997);
     is not a significant regulatory action subject to
Executive Order 13211 (66 FR 28355, May 22, 2001);
     is not subject to requirements of Section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) because this action does not involve technical standards; and
     does not provide the EPA with the discretionary authority
to address, as appropriate, disproportionate human health or
environmental effects, using practicable and legally permissible
methods, under Executive Order 12898 (59 FR 7629, February 16, 1994).

These negative declarations are not approved to apply on any Indian
reservation land or in any other area where EPA or an Indian tribe has
demonstrated that a tribe has jurisdiction. In those areas of Indian
country, the negative declarations do not have tribal implications as
specified by Executive Order 13175 (65 FR 67249, November 9, 2000), nor
will they impose substantial direct costs on tribal governments or
preempt tribal law. The Congressional Review Act, 5 U.S.C. 801, et
seq., as added by the Small Business Regulatory Enforcement Fairness
Act of 1996, generally provides that before a rule may take effect, the
agency promulgating the rule must submit a rule report, which includes
a copy of the rule, to each House of the Congress and to the
Comptroller General of the United States. The EPA will submit a report
containing this action and other required information to the U.S.
Senate, the U.S. House of Representatives, and the Comptroller General
of the United States prior to publication of the rule in the Federal
Register. A major rule cannot take effect until 60 days after it is
published in the Federal Register. This action is not a ``major rule''
as defined by 5 U.S.C. 804(2).

List of Subjects in 40 CFR Part 62

    Environmental protection, Administrative practice and procedure,
Air pollution control, Intergovernmental relations, Reporting and
recordkeeping requirements.

    Dated: January 13, 2014.
Dennis J. McLerran,
Regional Administrator, Region 10.
    40 CFR part 62 is amended as follows:

PART 62--APPROVAL AND PROMULGATION OF STATE PLANS FOR DESIGNATED
FACILITIES AND POLLUTANTS

0
1. The authority citation for part 62 continues to read as follows:

    Authority:  42 U.S.C. 7401 et seq.

Subpart N--IDAHO

0
2. Subpart N is amended by adding an undesignated center heading and
Sec.  62.3140 to read as follows:

Emissions From Existing Sewage Sludge Incineration Units

Sec.  62.3140  Identification of plan--negative declaration.

    Letter from the Idaho Department of Environmental Quality,
submitted on March 11, 2013, certifying that there are no existing
sewage sludge incineration units subject to 40 CFR part 60, subpart
MMMM operating within its jurisdiction.

0
3. Subpart N is amended by adding an undesignated center heading and
Sec.  62.3150 to read as follows:

Emissions From Existing Commercial Industrial Solid Waste Incinerators

Sec.  62.3150  Identification of plan--negative declaration.

    Letter from the Idaho Department of Environmental Quality,
submitted on April 14, 2014, certifying that there are no existing
commercial industrial solid waste incineration units subject to 40 CFR
part 60, subpart DDDD operating within its jurisdiction.

Subpart MM--OREGON

0
4. Subpart MM is amended by adding an undesignated center heading and
Sec.  62.9520 to read as follows:

Emissions From Existing Sewage Sludge Incineration Units

Sec.  62.9520  Identification of plan--negative declaration.

    Letter from the Oregon Department of Environmental Quality,
submitted on July 2, 2014, certifying that there are no existing sewage
sludge incineration units subject to 40 CFR part 60, subpart MMMM
within its jurisdiction or the jurisdiction of the Lane Regional Air
Protection Agency.

[FR Doc. 2015-01920 Filed 1-30-15; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register: April 9, 2010 (Volume 75, Number 68)]
[Notices]
[Page 18189-18190]
[DOCID:fr09ap10-61]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Project No. 13655-000]

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

April 2, 2010.
    On January 12, 2010, Riverbank Minnesota, LLC filed an application,
pursuant to section 4(f) of the Federal Power Act, proposing to study
the feasibility of the Granite Falls Pumped Storage Project No. 13655,
to be located east of the City of Granite Falls and the Minnesota River
in Chippewa County, Minnesota.
    The proposed pumped storage project would consist of: (1) A new
approximately 135-acre, 30-foot-deep upper reservoir constructed of
enclosed earth embankments; (2) a new lower reservoir excavated in
granite bedrock at a depth of approximately 1,800 feet below the
surface, consisting of six approximately 150-foot-high, 90-foot-wide
underground galleries; (3) a new approximately 20 to 100-foot-diameter
intake structure; (4) a new approximately 1,800-foot-long, 20-foot-
diameter penstock from the intake structure to an underground
powerhouse; (5) a new approximately 380-foot-long, 83-foot-wide, and
400-foot-high underground powerhouse; (6) four new reversible pump-
turbines with a total combined capacity of 1,000 megawatts; (7) a new
330-foot-long, 55-foot-wide, and 400-foot-high transformer gallery; (8)
a new approximately 1.2-mile-long, 230-kilovolt transmission line; and
(9) appurtenant facilities. The project

would have an estimated annual generation of 2,190 gigawatt-hours.
    Applicant Contact: Douglas Spaulding, Nelson Energy, 8441 Wayzata
Boulevard, Suite 101, Golden Valley, MN 55426,<PHONE_NUMBER>.
    FERC Contact: Brandon Cherry,<PHONE_NUMBER>.
    Deadline for filing comments, motions to intervene, competing
applications (without notices of intent), or notices of intent to file
competing application: 60 days from the issuance of this notice.
Comments, motions to intervene, notices of intent, and competing
applications may be filed electronically via the Internet. See 18 CFR
385.2001(a)(1)(iii) and the instructions on the Commission's Web site
under the ``eFiling'' link. If unable to be filed electronically,
documents may be paper-filed. To paper-file, an original and eight
copies should be mailed to: Kimberly D. Bose, Secretary, Federal Energy
Regulatory Commission, 888 First Street, NE., Washington, DC 20426. For
more information on how to submit these types of filings please go to
the Commission's Web site located at http://www.ferc.gov/filing-
comments.asp.
    More information about this project can be viewed or printed on the
``eLibrary'' link of Commission's Web site at http://www.ferc.gov/docs-
filing/elibrary.asp. Enter the docket number (P-13655) in the docket
number field to access the document. For assistance, call toll-free 1-
866-208-3372.

Kimberly D. Bose,
Secretary.
[FR Doc. 2010-8065 Filed 4-8-10; 8:45 am]
BILLING CODE 6717-01-P


List of Documents Submitted by the State of Alaska
   * March 29, 2011 Letter from Larry Hartig, Commissioner, Alaska Department of Environmental Conservation to Dennis McLerran, U.S. EPA Region 10, Seattle, WA. Transmitting Amendments to State Air Quality Control Plan

   * March 2, 2012 Letter from Larry Hartig, Commissioner, Alaska Department of Environmental Conservation to Dennis McLerran, U.S. EPA Region 10, Seattle, WA. Amendments to State Air Quality Control Plan, Volume III: Appendices


[Federal Register: November 6, 2007 (Volume 72, Number 214)]
[Notices]
[Page 62641-62642]
[DOCID:fr06no07-46]

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DEPARTMENT OF ENERGY

Federal Energy Regulatory Commission

[Docket Nos. CP07-8-000; CP07-8-001; CP07-8-002]

Guardian Pipeline, L.L.C; Notice of Availability of the Final
Environmental Impact Statement for the Guardian Expansion and Extension
Project

October 26, 2007.
    The staff of the Federal Energy Regulatory Commission (FERC or
Commission) has prepared this Final Environmental Impact Statement
(EIS) for the natural gas pipeline facilities proposed by Guardian
Pipeline, L.L.C. (Guardian) under the above-referenced docket. The
Guardian Expansion and Extension Project (G-II Project) would be
located in various counties in eastern Wisconsin and northeastern
Illinois.
    The Final EIS was prepared to satisfy the requirements of the
National Environmental Policy Act (NEPA). The FERC staff concludes that
the proposed Project, with the appropriate mitigation measures as
recommended, would have limited adverse environmental impact.
    The U.S. Army Corps of Engineers (COE) and the Bureau of Indian
Affairs (BIA) are federal cooperating agencies, and the Wisconsin
Department of Natural Resources (WDNR) is the state cooperating agency
for the development of this EIS. A federal cooperating agency has
jurisdiction by law or special expertise with respect to any
environmental impact involved with the proposal and is involved in the
NEPA analysis.

    The purpose of the G-II Project is to provide facilities necessary
to provide about 537,200 decatherms per day of additional natural gas
capacity to Guardian's existing pipeline system. The proposed
additional capacity would facilitate the transport of natural gas to
customers within the state of Wisconsin and provide those customers
with the necessary infrastructure to support growth, choice, and
competition within the natural gas marketplace.
    The Final EIS addresses the potential environmental effects of
construction and operation of the following facilities:
     83.9 miles of 30-inch-diameter natural gas pipeline in
Jefferson, Dodge, Fond du Lac, Calumet, Brown, and Outagamie Counties,
Wisconsin;
     31.3 miles of 20-inch-diameter natural gas pipeline in
Brown and Outagamie Counties, Wisconsin;
     1.4 miles of 16-inch-diameter natural gas branch line
referred to as the Denmark Branch Line in Brown County, Wisconsin;
     Two 20-inch-diameter natural gas branch lines including
the 1.8-mile Southwest Green Bay Branch Line in Brown County and a 0.8-
mile West Green Bay Branch Line in Outagamie County, Wisconsin;
     Two new 39,000 horsepower (hp) electric-motor-driven
compressor stations including the Sycamore Compressor Station located
in the Sycamore Township in DeKalb County, Illinois and the Bluff Creek
Compressor Station located in the Town of La Grange in Walworth County,
Wisconsin;
     Modifications to the existing Ixonia Meter Station in
Jefferson County, Wisconsin and the construction of seven new meter
stations in the Counties of Dodge, Fond du Lac, Calumet, Brown, and
Outagamie Counties, Wisconsin;
     New pig launcher/receiver facilities within Guardian's
existing Ixonia Meter Station in Jefferson County, Wisconsin, within
the proposed Fox Valley Meter Station in Calumet County, Wisconsin, and
West Green Bay Meter Station in Outagamie County, Wisconsin; and
     Six new mainline valves (MLVs), four of which would occur
along the 30-inch-diameter pipeline in the counties of Dodge, Fond du
Lac, and Calumet, Wisconsin, and two which would occur along the 20-
inch-diameter pipeline in Brown and Outagamie Counties, Wisconsin.
    Guardian proposes to have Project construction initiated in the
spring of 2008 and would be completed for a proposed in-service date of
November 2008.
    The Final EIS has been placed in the public files of the FERC and
is available for public inspection at: Federal Energy Regulatory
Commission, Public Reference Room, 888 First Street, NE., Room 2A,
Washington, DC 20426,<PHONE_NUMBER>.
    A limited number of copies of the Final EIS are available from the
Public Reference Room identified above. In addition, the Final EIS has
been mailed to affected landowners; various federal, state, and local
government agencies; elected officials; environmental and public
interest groups; Native American tribes; local libraries and
newspapers; intervenors; and other individuals that expressed an
interest in the proposed Project.
    Additional information about the proposed Project is available from
the Commission's Office of External Affairs, at 1-866-208-FERC or on
the FERC Internet Web site (http://www.ferc.gov). To access information

via the FERC website click on the ``eLibrary'' link then click on
``General Search'' and enter the docket number (CP07-8) excluding the
last three digits in the Docket Number field. Be sure you have selected
an appropriate date range. The ``eLibrary'' link provides access to the
texts of formal documents issued by the Commission, such as orders,
notices, and rulemakings. For assistance with ``eLibrary'', please
contact FERC Online Support at<EMAIL_ADDRESS>or toll free
at 1-866-208-3676, or for TTY, contact<PHONE_NUMBER>.
    In addition, the Commission now offers a free service called
eSubscription which allows you to keep track of all formal issuances
and submittals in specific dockets. This can reduce the amount of time
you spend researching proceedings by automatically providing you with
notification of these filings, document summaries and direct links to
these documents. To learn more about eSubscription and to sign-up for
this service please go to http://www.ferc.gov/esubscribenow.htm.

Kimberly D. Bose,
Secretary.
[FR Doc. E7-21730 Filed 11-5-07; 8:45 am]

BILLING CODE 6717-01-P


[Federal Register: March 28, 2006 (Volume 71, Number 59)]
[Notices]
[Page 15501-15503]
[DOCID:fr28mr06-99]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-53532; File No. SR-ISE-2005-56]

Self-Regulatory Organizations; International Securities Exchange,
Inc.; Notice of Filing of Proposed Rule Change and Amendment No. 1
Thereto to Establish Fees for Enhanced Sentiment Market Data

 March 21, 2006.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act''),\1\ and Rule 19b-4 thereunder,\2\ notice is hereby given that
on December 1, 2005, the International Securities Exchange, Inc.
(``ISE'' or ``Exchange'') filed with the Securities and Exchange
Commission (``Commission'') the proposed rule change as described in
Items I, II, and III below, which items have been prepared by the ISE.
On March 14, 2006, the Exchange filed Amendment No. 1 to the proposed
rule change.\3\ The Commission is publishing this notice to solicit
comments on the proposed rule change, as amended, from interested
persons.
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    \1\ 15 U.S.C. 78s(b)(1).
    \2\ 17 CFR 240.19b-4.
    \3\ In Amendment No. 1, the ISE added an unlimited queries
subscription level, and explained in the purpose section of the
proposed rule change the amount of the proposed fees, the impact of
the Broker Marketing Alliance (described below) on the proposed
fees, and the tier system adopted by the Exchange to facilitate the
participation by all member firms for a bonus rebate.
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I. Self-Regulatory Organization's Statement of the Terms of Substance
of the Proposed Rule Change

    The Exchange is proposing to amend its Schedule of Fees to
establish fees for enhanced sentiment market data. The text of the
proposed rule change is available at the Commission's Public Reference
Room, at the Exchange and at the Exchange's Web site (http://www.iseoptions.com/legal/proposed_rule_changes.asp
).

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

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

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

1. Purpose
    The ISE currently creates market data that consists of options
quotes and orders that are generated by its members and all trades that
are executed on the Exchange. The ISE also produces a Best Bid/Offer,
or BBO, with the aggregate size from all outstanding quotes and orders
at the top price level, or the ``top of the book.'' This data is
formatted according to Options Price Reporting Authority (``OPRA'')
specification and sent to OPRA for redistribution. OPRA processes the
ISE's data along with the same data sets from the other five options
exchanges and creates a National BBO, or ``NBBO,'' from all six options
exchanges.
    The ISE also creates data that is not disseminated by OPRA. One
example of such data is the ISE Sentiment Index[supreg], or
ISEE[supreg], a calculation that represents an overall view of market
sentiment. The ISEE provides an intra-day picture of how investors view
stock prices by assessing customers' option trading activity. Unlike
the traditional put/call ratio, which makes no distinction between
customer, market maker or firm transactions, the ISEE measures only
opening long customer transactions on the ISE. The ISE updates the
current ISEE value hourly during market hours and posts it for free on
its Web site.\4\ The ISEE is the basis for the enhanced sentiment
market data, for which the Exchange is proposing to establish the fees
in this proposed rule change.
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    \4\ http://www.iseoptions.com/marketplace/statistics/sentiment_index.asp
.

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    The ISE believes the enhanced sentiment data offering will allow
subscribers to identify bullish and bearish investor sentiment for
nearly any issue traded on the Exchange using the same formula that is
used for the ISEE calculation. Where the ISEE is a single value for the
overall market sentiment, the enhanced sentiment data offering will
provide more specific information that will allow an end user to
retrieve a sentiment value for an individual symbol using a query tool,
which is an intuitive Web browser interface. For example, an end user
may be interested in the sentiment value for only the Nasdaq 100
Tracking Stock (symbol QQQQ). The user would just enter that symbol
into the query tool interface to retrieve the sentiment value. In
addition to the enhanced sentiment data query tool, there will also be
a sentiment scanning tool that will comb the market for sentiment
levels that meet pre-defined parameters. For example, an end user of a
pre-defined query for the scanning tool would be able to determine
which three stocks are most bullish in the oil sector based on
sentiment values. The enhanced sentiment data will include sentiment
values for particular indices, industry sectors or individual stocks
and will be calculated three times per hour versus only one time per
hour for the ISEE.
    The enhanced sentiment data will be available to on-line investors
on a subscription basis. The Exchange proposes four subscription
levels: (i) 100 queries for $11.95 per month; (ii) 200 queries for
$14.95 per month; (iii) unlimited queries for $19.95 per month; and
(iv) unlimited pre-defined queries for $11.95 per month. This enhanced
sentiment data will also be offered by some broker-dealers that
participate in the ISE Broker Marketing Alliance program. A Broker
Marketing Alliance is an arrangement between ISE and a participating
U.S. broker-dealer who markets the enhanced sentiment offering to its
customers. Clients of participating brokers will be able to take
advantage of a discounted price for the same four subscription levels:
(i) 100 queries for $9.95 per month; (ii) 200 queries for $11.95 per
month; (iii) unlimited queries for $15.95 per month; and (iv) unlimited
pre-defined queries for $9.95 per month.
    Under a Broker Marketing Alliance, participating U.S. broker-
dealers will participate in a revenue sharing arrangement with the
Exchange for each of their referred customers that subscribes to the
enhanced sentiment offering. Participating broker-dealers will receive
a rebate of 35% of the subscription fee collected from subscribers. An
additional bonus rebate will be paid to broker-dealers that achieve a
subscription level based on the size of their firm and the number of
clients that subscribe to the service. The Exchange believes that a
tier system, as reflected in the Notes section of the proposed Schedule
of Fees, is the most equitable method by which all member firms,
regardless of their size, will be able to participate in the rebate
program. Accordingly, the Exchange proposes a bonus rebate payable as
follows: $500 per month for 500 subscribers at firms with 10,000-25,000
customers; $750 per month for 750 subscribers at firms with 25,001-
100,000 customers; and $1,000 per month for 1,000 subscribers at firms
with 100,001 or more customers. The Exchange believes that firms with a
customer base of 10,000-25,000 accounts will be able to achieve 500
subscriptions with relatively the same ease as firms with a customer
base of 25,001-100,000 accounts and 100,001 or more accounts, each of
which are expected to achieve 750 and 1000 subscriptions, respectively,
in order to qualify for the additional bonus rebate. The proposed
additional bonus amounts paid to the brokers are all equal to 10.05% of
the subscription revenue based on a subscription fee of $9.95 per
month. For example, 500 subscribers at $9.95 is equal to $4,975 and the
$500 bonus is equal to 10.05% of the $4,975; 750 subscribers at $9.95
is equal to $7,462.50 and the $750 bonus is equal to 10.05% of the
$7,462.50; and 1,000 subscribers at $9.95 is equal to $9,950 and the
$1,000 bonus is equal to 10.05% of the $9,950.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b)(4) of the Act,\5\ which requires that an exchange
have an equitable allocation of reasonable dues, fees and other charges
among its members and other persons using its facilities. The ISE
developed and conducted a comprehensive survey of a cross-section of
participants in the financial services industry regarding their level
of interest in a number of proprietary market data offerings and, based
on the results of that survey, the Exchange developed a business plan
to create and offer a number of proprietary market data products
targeted to potential user groups, e.g., individual investors,
institutional investors, broker-dealers, etc. The Exchange also
retained a consultant to validate the business plan and to provide
advice on the structure and amount of fees to charge for these
products. The ISE established a tiered pricing structure for enhanced
sentiment data based on all of this information. The ISE believes that,
under the tiered pricing structure, it is able to charge a lower fee to
users who subscribe through the Broker Marketing Alliance because the
Exchange will save on advertising costs associated with that user.
Conversely, the Exchange believes it must charge a higher fee to users
who subscribe directly on its Web site because it must incur
advertising costs associated with that user. The Exchange believes the
tiered levels and prices offered for the proposed market data offering
provide investors with an ability to choose a plan that best suits
their needs, from an annual subscription that is discounted, to a one-
time subscription, regardless of whether an investor subscribes
directly through the ISE's Web site or through a Broker

Marketing Alliance. Further, the Exchange believes the proposed rule
filing provides market participants with an opportunity to obtain
enhanced sentiment market data in furtherance of their investment
decisions.
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    \5\ 15 U.S.C. 78(f)(b)(4).
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B. Self-Regulatory Organization's Statement on Burden on Competition

    The Exchange believes that the proposed rule change would not
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act.

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

    The Exchange has not solicited, and does not intend to solicit,
comments on this proposed rule change. The Exchange has not received
any written comments from members or other interested parties.

III. Date of Effectiveness of the Proposed Rule

    Within 35 days of the date of publication of this notice in the
Federal Register or within such longer period (i) as the Commission may
designate up to 90 days of such date if it finds such longer period to
be appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve such proposed rule change; or
    (B) Institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml.
); or     Send an e-mail to<EMAIL_ADDRESS>Please include

File No. SR-ISE-2005-56 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-ISE-2005-56. This file
number should be included on the subject line if e-mail is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commissions Internet Web site (http://www.sec.gov/rules/sro.shtml).

Copies of the submission, all subsequent amendments, all written
statements with respect to the proposed rule change that are filed with
the Commission, and all written communications relating to the proposed
rule change between the Commission and any person, other than those
that may be withheld from the public in accordance with the provisions
of 5 U.S.C. 552, will be available for inspection and copying in the
Commission's Public Reference Room. Copies of such filing also will be
available for inspection and copying at the principal office of the
ISE. 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-ISE-
2005-56 and should be submitted by April 18, 2006.

    For the Commission, by the Division of Market Regulation,
pursuant to delegated authority.\6\
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    \6\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
[FR Doc. E6-4432 Filed 3-27-06; 8:45 am]

BILLING CODE 8010-01-P