[Federal Register Volume 78, Number 15 (Wednesday, January 23, 2013)]
[Notices]
[Pages 4973-4978]
[FR Doc No: 2013-01290]

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DEPARTMENT OF TRANSPORTATION

Office of the Secretary

Notice of Funding Availability for the Small Business
Transportation Resource Center Program

AGENCY: Department of Transportation (DOT), Office of the Secretary of
Transportation (OST), Office of Small and Disadvantaged Business
Utilization (OSDBU).

ACTION: Notice of Funding Availability.

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SUMMARY: The Department of Transportation (DOT), Office of the
Secretary (OST), Office of Small and Disadvantaged Business Utilization
(OSDBU) announces the opportunity for: (1) Business centered community-
based organizations; (2) transportation-related trade associations; (3)
colleges and universities; (4) community colleges; or (5) chambers of
commerce, registered with the Internal Revenue Service as 501 C(6) or
501 C(3) tax-exempt organizations, to compete for participation in
OSDBU's Small Business Transportation Resource Center (SBTRC) program
in the South Atlantic Region.
    OSDBU will enter into Cooperative Agreements with these
organizations to provide outreach to the small business community in
their designated region and provide financial and technical assistance,
business training programs, business assessment, management training,
counseling, marketing and outreach, and the dissemination of
information, to encourage and assist small businesses to become better
prepared to compete for, obtain, and manage DOT funded transportation-
related contracts and subcontracts at the federal, state and local
levels. Throughout this notice, the term ``small business'' will refer
to: 8(a), small disadvantaged businesses (SDB), disadvantaged business
enterprises (DBE), women owned small businesses (WOSB), HubZone,
service disabled veteran owned businesses (SDVOB), and veteran owned
small businesses (VOSB). Throughout this notice, ``transportation-
related'' is defined as the maintenance, rehabilitation, restructuring,
improvement, or revitalization of any of the nation's modes of
transportation.
    Funding Opportunity Number: USDOT-OST-OSDBU-SBTRC2013-1.
    Catalog of Federal Domestic Assistance (CFDA) Number: 20.910
Assistance to Small and Disadvantaged Businesses.
    Type of Award: Cooperative Agreement.
    Award Ceiling: $145,000.
    Award Floor: $125,000.
    Program Authority: DOT is authorized under 49 U.S.C. 332(b)(4), (5)
and (7) to design and carry out programs to assist small disadvantaged
businesses in getting transportation-related contracts and
subcontracts; develop support mechanisms, including management and
technical services, that will enable small disadvantaged businesses to
take advantage of those business opportunities; and to make
arrangements to carry out the above purposes.

DATES: Complete Proposals must be electronically submitted to OSDBU via
email on or before February 19, 2013 5:00 p.m. Eastern Standard Time
(EST). Proposals received after the deadline will be considered non-
responsive and will not be reviewed. The applicant is advised to
request delivery receipt notification for email submissions. DOT plans
to give notice of award for the competed region on or before March 12,
2013.

ADDRESSES: Applications must be electronically submitted to OSDBU via
email at<EMAIL_ADDRESS>
FOR FURTHER INFORMATION CONTACT: For further information concerning
this notice, contact Ms. Patricia Martin, Program Analyst, U.S.
Department of Transportation, Office of Small and Disadvantaged
Business Utilization, 1200 New Jersey Avenue SE., W56-462, Washington,
DC 20590. Telephone: 1-800-532-1169 or email<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Table of Contents

1. Introduction
    1.1 Background
    1.2 Program Description and Goals
    1.3 Description of Competition
    1.4 Duration of Agreements
    1.5 Authority
    1.6 Eligibility Requirements
2. Program Requirements
    2.1 Recipient Responsibilities
    2.2 Office of Small and Disadvantaged Business Utilization
Responsibilities
3. Submission of Proposals
    3.1 Format for Proposals
    3.2 Address, Number of Copies, Deadline for Submission
4. Selection Criteria
    4.1 General Criteria
    4.2 Scoring of Applications
    4.3 Conflicts of Interest
Format for Proposals--Appendix A

Full Text of Announcement

1. Introduction

1.1 Background

    The Department of Transportation (DOT) established the Office of
Small and Disadvantaged Business Utilization (OSDBU) in accordance with
Public Law 95-507, an amendment to the Small Business Act and the Small
Business Investment Act of 1958.
    The mission of OSDBU at DOT is to ensure that the small and
disadvantaged business policies and goals of the Secretary of
Transportation are developed and implemented in a fair, efficient and
effective manner to serve small and disadvantaged businesses throughout
the country. The OSDBU also administers the provisions of Title 49,
Section 332, the Minority Resource Center (MRC) which includes the
duties of advocacy, outreach and financial services on behalf of small
and disadvantaged business and those certified under CFR 49 parts 23
and or 26 as Disadvantaged Business Enterprises (DBE) and the
development of programs to encourage, stimulate, promote and assist
small businesses to become better prepared to compete for, obtain and
manage transportation-related contracts and subcontracts.

    The Regional Assistance Division of OSDBU, through the SBTRC
program, allows OSDBU to partner with local organizations to offer a
comprehensive delivery system of business training, technical
assistance and dissemination of information, targeted towards small
business transportation enterprises in their regions.

1.2 Program Description and Goals

    The national SBTRC program utilizes Cooperative Agreements with
chambers of commerce, trade associations, educational institutions and
business-centered community based organizations to establish SBTRCs to
provide business training, technical assistance and information to DOT
grantees and recipients, prime contractors and subcontractors. In order
to be effective and serve their target audience, the SBTRCs must be
active in the local transportation community in order to identify and
communicate opportunities and provide the required technical
assistance. SBTRCs must already have, or demonstrate the ability to,
establish working relationships with the state and local transportation
agencies and technical assistance agencies (i.e., The U.S. Department
of Commerce's Minority Business Development Centers (MBDCs), Small
Business Development Centers (SBDCs), and Procurement Technical
Assistance Centers (PTACs), SCORE and State DOT highway supportive
services contractors in their region. Utilizing these relationships and
their own expertise, the SBTRCs are involved in activities such as
information dissemination, small business counseling, and technical
assistance with small businesses currently doing business with public
and private entities in the transportation industry.
    Effective outreach is critical to the success of the SBTRC program.
In order for their outreach efforts to be effective, SBTRCs must be
familiar with DOT's Operating Administrations, its funding sources, and
how funding is awarded to DOT grantees, recipients, contractors,
subcontractors, and its financial assistance programs. SBTRCs must
provide outreach to the regional small business transportation
community to disseminate information and distribute DOT-published
marketing materials, such as Short Term Lending Program (STLP)
Information, Bonding Education Program (BEP) information, SBTRC
brochures and literature, Procurement Forecasts; Contracting with DOT
booklets, Women and Girls in Transportation Initiative (WITI)
information, and any other materials or resources that DOT or OSDBU may
develop for this purpose. To maximize outreach, the SBTRC may be called
upon to participate in regional and national conferences and seminars.
Quantities of DOT publications for on-hand inventory and dissemination
at conferences and seminars will be available upon request from the
OSDBU office.

1.3 Description of Competition

    The purpose of this Request For Proposal (RFP) is to solicit
proposals from transportation-related trade associations, chambers of
commerce, community based entities, colleges and universities,
community colleges, and any other qualifying transportation-related
non-profit organizations with the desire and ability to partner with
OSDBU to establish and maintain an SBTRC.
    It is OSDBU's intent to award a Cooperative Agreement to one
organization in the South Atlantic Region, from herein referred to as
``region'', in this solicitation. However, if warranted, OSDBU reserves
the option to make multiple awards to selected partners. Proposals
submitted for a region must contain a plan to service all states listed
in the entire region, not just the SBTRC's state or local geographical
area. The region's SBTRC headquarters must be established in one of the
designated states set forth below. Submitted proposals must also
contain justification for the establishment of the SBTRC headquarters
in a particular city within the designated state.

SBTRC Region Competed in This Solicitation

South Atlantic Regions..................  North Carolina
                                          Virginia
                                          Kentucky
                                          West Virginia

    Program requirements and selection criteria, set forth in Sections
2 and 4 respectively, indicate that the OSDBU intends for the SBTRC to
be multidimensional; that is, the selected organization must have the
capacity to effectively access and provide supportive services to the
broad range of small businesses within the respective geographical
region. To this end, the SBTRC must be able to demonstrate that they
currently have established relationships within the geographic region
with whom they may coordinate and establish effective networks with DOT
grant recipients and local/regional technical assistance agencies to
maximize resources.
    Cooperative agreement awards will be distributed to the region(s)
as follows:

South Atlantic Region.....................  Ceiling: $145,000 per year
                                            Floor: $125,000 per year

    Cooperative agreement awards by region are based upon an analysis
of DBEs, Certified Small Businesses, and US DOT transportation dollars
in each region.
    It is OSDBU's intent to maximize the benefits received by the small
business transportation community through the SBTRC. Funding may be
utilized to reimburse an on-site Project Director up to 100% of salary
plus fringe benefits, an on-site Executive Director up to 20% of salary
plus fringe benefits, up to 100% of a Project Coordinator salary plus
fringe benefits, the cost of designated SBTRC space, other direct
costs, and all other general and administrative expenses. Selected
SBTRC partners will be expected to provide in-kind administrative
support. Submitted proposals must contain an alternative funding source
with which the SBTRC will fund administrative support costs. Preference
will be given to proposals containing in-kind contributions for the
Project Director, the Executive Director, the Project Coordinator, cost
of designated SBTRC space, other direct costs, and all other general
and administrative expenses.

1.4 Duration of Agreements

    The cooperative agreement will be awarded for a period of 12 months
(one year) with options for two (2) additional one-year periods. OSDBU
will notify the SBTRC of our intention to exercise an option year or
not to exercise an option year 30 days in advance of expiration of the
current year.

1.5 Authority

    DOT is authorized under 49 U.S.C. 332(b)(4), (5) and (7) to design
and carry out programs to assist small disadvantaged businesses in
getting transportation-related contracts and subcontracts; develop
support mechanisms, including management and technical services, that
will enable small disadvantaged businesses to take advantage of those
business opportunities; and to make arrangements to carry out the above
purposes.

1.6 Eligibility Requirements

    To be eligible, an organization must be an established, nonprofit,
community-based organization, transportation-related trade association,
chamber of commerce, college or university, community college, and any
other qualifying transportation-related

non-profit organization which has the documented experience and
capacity necessary to successfully operate and administer a coordinated
delivery system that provides access for small businesses to prepare
and compete for transportation-related contracts.
    In addition, to be eligible, the applicant organization must:
    (A) Be an established 501 C(3) or 501 C(6) tax-exempt organization
and provide documentation as verification. No application will be
accepted without proof of tax-exempt status;
    (B) Have at least one year of documented and continuous experience
prior to the date of application in providing advocacy, outreach, and
technical assistance to small businesses within the region in which
proposed services will be provided. Prior performance providing
services to the transportation community is preferable, but not
required; and
    (C) Have an office physically located within the proposed city in
the designated headquarters state in the region for which they are
submitting the proposal that is readily accessible to the public.

2. Program Requirements

2.1 Recipient Responsibilities

(A) Assessments, Business Analyses
    1. Conduct an assessment of small businesses in the SBTRC region to
determine their training and technical assistance needs, and use
information that is available at no cost to structure programs and
services that will enable small businesses to become better prepared to
compete for and receive transportation-related contract awards.
    2. Contact other federal, state and local government agencies, such
as the U.S. Small Business Administration (SBA), state and local
highway agencies, state and local airport authorities, and transit
authorities to identify relevant and current information that may
support the assessment of the regional small business transportation
community needs.
(B) General Management and Technical Training and Assistance
    1. Utilize OSDBU's Monthly Reporting Form to document each small
business assisted by the SBTRC and type of service(s) provided. The
completed form must be transmitted electronically to the SBTRC Program
Analyst on a monthly basis, accompanied by a narrative report on the
activities and performance results for that period. The data gathered
must be supportive by the narrative and must relate to the numerical
data on the monthly reports.
    2. Ensure that an array of information is made available for
distribution to the small business transportation community that is
designed to inform and educate the community on DOT/OSDBU services and
opportunities.
    3. Coordinate efforts with OSDBUs in order to maintain an on-hand
inventory of DOT/OSDBU informational materials for general
dissemination and for distribution at transportation-related
conferences and other events.
(C) Business Counseling
    1. Collaborate with agencies, such as the State, Regional, and
Local Transportation Government Agencies, SBA, U.S. Department of
Commerce's Minority Business Development Centers (MBDCs), Service Corps
of Retired Executives (SCORE), Procurement Technical Assistance Centers
(PTACs), and Small Business Development Centers (SBDCs), to offer a
broad range of counseling services to transportation-related small
business enterprises.
    2. Create a technical assistance plan that will provide each
counseled participant with the knowledge and skills necessary to
improve the management of their own small business to expand their
transportation-related contracts and subcontracts portfolio.
    3. Provide a minimum of 20 hours of individual or group counseling
sessions to small businesses per month.
(D) Planning Committee
    1. Establish a Regional Planning Committee consisting of at least 7
members that includes representatives from the regional community and
federal, state, and local agencies. The highway, airport, and transit
authorities for the SBTRC's headquarters state must have representation
on the planning committee. This committee shall be established no later
than 60 days after the execution of the Cooperative agreement between
the OSDBU and the selected SBRTC.
    2. Provide a forum for the federal, state, and local agencies to
disseminate information about upcoming procurements.
    3. Hold either monthly or quarterly meetings at a time and place
agreed upon by SBTRC and planning committee members.
    4. Use the initial session (teleconference call) by the SBTRC
explain the mission of the committee and identify roles of the staff
and the members of the group.
    5. Responsibility for the agenda and direction of the Planning
Committee should be handled by the SBTRC Executive Director or his/her
designee.
Outreach Services/Conference Participation
    1. Utilize the services of the System for Award Management (SAM)
and other sources to construct a database of regional small businesses
that currently or may in the future participate in DOT direct and DOT
funded transportation related contracts, and make this database
available to OSDBU, upon request.
    2. Utilize the database of regional transportation-related small
businesses to match opportunities identified through the planning
committee forum, FedBiz Opps (a web-based system for posting
solicitations and other Federal procurement-related documents on the
Internet), and other sources to eligible small businesses and inform
the small business community about those opportunities.
    3. Develop a ``targeted'' database of firms (100-150) that have the
capacity and capabilities, and are ready, willing and able to
participate in DOT contracts and subcontracts immediately. This control
group will receive ample resources from the SBTRC, i.e., access to
working capital, bonding assistance, business counseling, management
assistance and direct referrals to DOT agencies at the state and local
levels, and to prime contractors as effective subcontractor firms.
    4. Identify regional, state and local conferences where a
significant number of small businesses, with transportation related
capabilities, are expected to be in attendance. Maintain and submit a
list of those events to the SBTRC Program Analyst for review and
posting on the OSDBU Web site on a monthly basis. Clearly identify the
events designated for SBTRC participation and include recommendations
for OSDBU participation.
    5. Conduct outreach and disseminate information to small businesses
at regional transportation-related conferences, seminars, and
workshops. In the event that the SBTRC is requested to participate in
an event, the SBTRC will send DOT materials, the OSDBU banner and other
information that is deemed necessary for the event.
    6. Submit a conference summary report to OSDBU no later than 5
business days after participation in the event or conference. The
conference summary report must summarize activities, contacts, outreach
results, and recommendations for continued or discontinued
participation in future similar events sponsored by that organization.

    7. Upon request by OSDBU, coordinate efforts with DOT's grantees
and recipients at the state and/or local levels to sponsor or cosponsor
an OSDBU transportation related conference in the region.
    8. Participate in monthly teleconference call with the Regional
Assistance Division Program Manager and OSDBU staff.
(F) Short Term Lending Program (STLP)
    1. Work with STLP participating banks and if not available, other
lending institutions to deliver a minimum of five (5) seminars/
workshops per year on the STLP financial assistance program to the
transportation-related small business community. The seminar/workshop
must cover the entire STLP process, from completion of STLP loan
applications and preparation of the loan package to graduation from the
STLP.
    2. Provide direct support, technical support, and advocacy services
to potential STLP applicants to increase the probability of STLP loan
approval and generate a minimum of 7 approved STLP applications per
year.
(G) Bonding Education Program (BEP)
    Work with OSDBU, bonding industry partners, local small business
transportation stakeholders, and local bond producers/agents in your
region to deliver a minimum of 2 complete BEP seminars. The BEP
consists of the following components: (1) The stakeholder's meeting;
(2) the educational workshops component; (3) the bond readiness
component; and (4) follow-on assistance to BEP participants via
technical and procurement assistance based on the prescriptive plan
determined by the BEP. For each BEP event, work with the local bond
producers/agents in your region and the disadvantaged business
participants to deliver minimum of 10 disadvantaged business
participants in the BEP event with either access to bonding or an
increase in bonding capacity. Furnish all labor, facilities and
equipment to perform the services described in this announcement.
(H) Women and Girls in Transportation Initiative (WITI)
    Pursuant to Executive Order 13506, and 49 U.S.C. 332(b)(4) and (7),
the SBTRC shall administer the WITI in their geographical region. The
SBTRC shall implement the DOT WITI program as defined by the DOT WITI
Policy. The WITI program is designed to identify, educate, attract, and
retain women and girls from a variety of disciplines in the
transportation industry. The SBTRC shall also be responsible for
outreach activities in the implementation of this program and
advertising the WITI program to all colleges and universities and
transportation entities in their region. The WITI program shall be
developed in conjunction with the skill needs of the USDOT, state and
local transportation agencies and appropriate private sector
transportation-related participants including, S/WOBs/DBEs, and women
organizations involved in transportation. Emphasis shall be placed on
establishing partnerships with transportation-related businesses. The
SBTRC will be required to host 1 WITI event and attend at least 5
events where WITI is presented and marketed.

2.2 Office of Small and Disadvantaged Business Utilization (OSDBU)
Responsibilities

    (A) Provide consultation and technical assistance in planning,
implementing and evaluating activities under this announcement.
    (B) Provide orientation and training to the applicant organization.
    (C) Monitor SBTRC activities, cooperative agreement compliance, and
overall SBTRC performance.
    (D) Assist SBTRC to develop or strengthen its relationships with
federal, state, and local transportation authorities, other technical
assistance organizations, and DOT grantees.
    (E) Facilitate the exchange and transfer of successful program
activities and information among all SBTRC regions.
    (F) Provide the SBTRC with DOT/OSDBU materials and other relevant
transportation related information for dissemination.
    (G) Maintain effective communication with the SBTRC and inform them
of transportation news and contracting opportunities to share with
small businesses in their region.
    (H) Provide all required forms to be used by the SBTRC for
reporting purposes under the program.
    (I) Perform an annual performance evaluation of the SBTRC.
Satisfactory performance is a condition of continued participation of
the organization as an SBTRC and execution of all option years.

3. Submission of Proposals

3.1 Format for Proposals

    Each proposal must be submitted to DOT's OSDBU in the format set
forth in the application form attached as Appendix A to this
announcement.

3.2 Address; Number of Copies; Deadlines for Submission

    Any eligible organization, as defined in Section 1.6 of this
announcement, will submit only one proposal per state for consideration
by OSDBU.
    Applications must be double spaced, and printed in a font size not
smaller than 12 points. Applications will not exceed 35 single-sided
pages, not including any requested attachments. All pages should be
numbered at the top of each page. All documentation, attachments, or
other information pertinent to the application must be included in a
single submission. Proposal packages must be submitted electronically
to OSDBU at<EMAIL_ADDRESS>    The applicant is advised to turn on request delivery receipt
notification for email submission. Proposals must be received by DOT/
OSDBU no later than February 19, 2013, 5:00 p.m., EST. If you have any
problems submitting your proposal, please email<EMAIL_ADDRESS>or telephone<PHONE_NUMBER>.

4. Selection Criteria

4.1 General Criteria

    OSDBU will award the cooperative agreement on a best value basis,
using the following criteria to rate and rank applications:
    Applications will be evaluated using a point system (maximum number
of points = 100);
     Approach and strategy (25 points)
     Linkages (25 points)
     Organizational Capability/Site visit (25 points)
     Staff Capabilities and Experience (15 points)
     Cost Proposal (10 points)

(A) Approach and Strategy (25 Points)

    The applicant must describe their strategy to achieve the overall
mission of the SBTRC as described in this solicitation and service the
small business community in their entire geographic regional area. The
applicant must also describe how the specific activities outlined in
Section 2.1 will be implemented and executed in the organization's
regional area. OSDBU will consider the extent to which the proposed
objectives are specific, measurable, time-specific, and consistent with
OSDBU goals and the applicant organization's overall mission. OSDBU
will give priority consideration to applicants that demonstrate
innovation and creativity in their approach to assist small businesses
to become successful transportation contractors and increase their
ability to access DOT contracting opportunities and financial
assistance programs. Applicants must also submit the estimated direct
costs, other than labor, to execute their proposed strategy.

OSDBU will consider the quality of the applicant's plan for conducting
program activities and the likelihood that the proposed methods will be
successful in achieving proposed objectives at the proposed cost.

(B) Linkages (25 Points)

    The applicant must describe their established relationships within
their geographic region and demonstrate their ability to coordinate and
establish effective networks with DOT grant recipients and local/
regional technical assistance agencies to maximize resources. OSDBU
will consider innovative aspects of the applicant's approach and
strategy to build upon their existing relationships and established
networks with existing resources in their geographical area. The
applicant should describe their strategy to obtain support and
collaboration on SBTRC activities from DOT grantees and recipients,
transportation prime contractors and subcontractors, the SBA, U.S.
Department of Commerce's Minority Business Development Centers (MBDCs),
Service Corps of Retired Executives (SCORE), Procurement Technical
Assistance Centers (PTACs), Small Business Development Centers (SBDCs),
State DOTs, and State highway supportive services contractors. In
rating this factor, OSDBU will consider the extent to which the
applicant demonstrates ability to be multidimensional. The applicant
must demonstrate that they have the ability to access a broad range of
supportive services to effectively serve a broad range of
transportation-related small businesses within their respective
geographical region. Emphasis will also be placed on the extent to
which the applicant identifies a clear outreach strategy related to the
identified needs that can be successfully carried out within the period
of this agreement and a plan for involving the Planning Committee in
the execution of that strategy.

(C) Organizational Capability (25 Points)

    The applicant must demonstrate that they have the organizational
capability to meet the program requirements set forth in Section 2. The
applicant organization must have sufficient resources and past
performance experience to successfully provide outreach to the small
business transportation resources in their geographical area and carry
out the mission of the SBTRC. In rating this factor, OSDBU will
consider the extent to which the applicant's organization has recent,
relevant and successful experience in advocating for and addressing the
needs of small businesses. Applicants will be given points for
demonstrated past transportation-related performance. The applicant
must also describe technical and administrative resources it plans to
use in achieving proposed objectives. In their description, the
applicant must describe their facilities, computer and technical
facilities, ability to tap into volunteer staff time, and a plan for
sufficient matching alternative financial resources to fund the general
and administrative costs of the SBTRC. The applicant must also describe
their administrative and financial management staff. It will be the
responsibility of the successful candidate to not only provide the
services outlined herein to small businesses in the transportation
industry, but to also successfully manage and maintain their internal
financial, payment and invoicing process with their financial
management offices. OSDBU will place an emphasis on capabilities of the
applicant's financial management staff. Additionally, a site visit will
be required prior to award for those candidates that are being strongly
considered. A member of the OSDBU team will contact those candidates to
schedule the site visits prior to the award of the agreement.

(D) Staff Capability and Experience (15 Points)

    The applicant organization must provide a list of proposed
personnel for the project, with salaries, fringe benefit burden
factors, educational levels and previous experience clearly delineated.
The applicant's project team must be well-qualified, knowledgeable, and
able to effectively serve the diverse and broad range of small
businesses in their geographical region. The Executive Director and the
Project Director shall be deemed key personnel. Detailed resumes must
be submitted for all proposed key personnel and outside consultants and
subcontractors. Proposed key personnel must have detailed demonstrated
experience providing services similar in scope and nature to the
proposed effort. The proposed Project Director will serve as the
responsible individual for the program. 100% of the Project Director's
time must be dedicated to the SBTRC. Both the Executive Director and
the Project Director must be located on-site. In this element, OSDBU
will consider the extent to which the applicant's proposed Staffing
Plan; (a) clearly meets the education and experience requirements to
accomplish the objectives of the cooperative agreement; (b) delineates
staff responsibilities and accountability for all work required and;
(c) presents a clear and feasible ability to execute the applicant's
proposed approach and strategy.

(E) Cost Proposal (10 Points)

    Applicants must submit the total proposed cost of establishing and
administering the SBTRC in the applicant's geographical region for a 12
month period, inclusive of costs funded through alternative matching
resources. The applicant's budget must be adequate to support the
proposed strategy and costs must be reasonable in relation to project
objectives. The portion of the submitted budget funded by OSDBU cannot
exceed the ceiling outlined in Section 1.3: Description of Competition
of this RFP per fiscal year. Applicants are encouraged to provide in-
kind costs and other innovative cost approaches.

4.2 Scoring of Applications

    A review panel will score each application based upon the
evaluation criteria listed above. Points will be given for each
evaluation criteria category, not to exceed the maximum number of
points allowed for each category. Proposals which are deemed non-
responsive, do not meet the established criteria, or incomplete at the
time of submission will be disqualified.
    OSDBU will perform a responsibility determination of the
prospective awardee in the region, which will include a site visit,
before awarding the cooperative agreement.

4.3 Conflicts of Interest

    Applicants must submit signed statements by key personnel and all
organization principals indicating that they, or members of their
immediate families, do not have a personal, business or financial
interest in any DOT-funded transportation project, nor any
relationships with local or state transportation agencies that may have
the appearance of a conflict of interest.

APPENDIX A

FORMAT FOR PROPOSALS FOR THE DEPARTMENT OF TRANSPORTATION OFFICE OF
SMALL AND DISADVANTAGED BUSINESS UTILIZATION'S SMALL BUSINESS
TRANSPORTATION RESOURCE CENTER (SBTRC) PROGRAM

    Submitted proposals for the DOT, Office of Small and
Disadvantaged Business Utilization's Small Business Transportation
Resource Center Program must contain the following 12 sections and
be organized in the following order:

1. TABLE OF CONTENTS

    Identify all parts, sections and attachments of the application.

2. APPLICATION SUMMARY

    Provide a summary overview of the following:
     The applicant's proposed SBTRC region and city and key
elements of the plan of action/strategy to achieve the SBTRC
objectives.
     The applicant's relevant organizational experience and
capabilities.

3. UNDERSTANDING OF THE WORK

    Provide a narrative which contains specific project information
as follows:
     The applicant will describe its understanding of the
OSDBU's SBTRC program mission and the role of the applicant's
proposed SBTRC in advancing the program goals.
     The applicant will describe specific outreach needs of
transportation-related small businesses in the applicant's region
and how the SBTRC will address the identified needs.

4. APPROACH AND STRATEGY

     Describe the applicant's plan of action/strategy for
conducting the program in terms of the tasks to be performed.
     Describe the specific services or activities to be
performed and how these services/activities will be implemented.
     Describe innovative and creative approaches to assist
small businesses to become successful transportation contractors and
increase their ability to access DOT contracting opportunities and
financial assistance programs.
     Estimated direct costs, other than labor, to execute
the proposed strategy.

5. LINKAGES

     Describe established relationships within the
geographic region and demonstrate the ability to coordinate and
establish effective networks with DOT grant recipients and local/
regional technical assistance agencies.
     Describe the strategy to obtain support and
collaboration on SBTRC activities from DOT grantees and recipients,
transportation prime contractors and subcontractors, the SBA, U.S.
Department of Commerce's Minority Business Development Centers
(MBDCs), Service Corps of Retired Executives (SCORE), Procurement
Technical Assistance Centers (PTACs), Small Business Development
Centers (SBDCs), State DOTs, and State highway supportive services
contractors.
     Describe the outreach strategy related to the
identified needs that can be successfully carried out within the
period of this agreement and a plan for involving the Planning
Committee in the execution of that strategy.

6. ORGANIZATIONAL CAPABILITY

     Describe recent and relevant past successful
performance in addressing the needs of small businesses,
particularly with respect to transportation-related small
businesses.
     Describe internal technical, financial management, and
administrative resources.
     Propose a plan for sufficient matching alternative
financial resources to fund the general and administrative costs of
the SBTRC.

7. STAFF CAPABILITY AND EXPERIENCE

     List proposed key personnel, their salaries and
proposed fringe benefit factors.
     Describe the education, qualifications and relevant
experience of key personnel. Attach detailed resumes.
     Proposed staffing plan. Describe how personnel are to
be organized for the program and how they will be used to accomplish
program objectives. Outline staff responsibilities, accountability
and a schedule for conducting program tasks.

8. COST PROPOSAL

     Outline the total proposed cost of establishing and
administering the SBTRC in the applicant's geographical region for a
12 month period, inclusive of costs funded through alternative
matching resources. Clearly identify the portion of the costs funded
by OSDBU.
     Provide a brief narrative linking the cost proposal to
the proposed strategy.

9. PROOF OF TAX EXEMPT STATUS

10. ASSURANCES SIGNATURE FORM

    Complete the attached Standard Form 424B ASSURANCES-NON-
CONSTRUCTION PROGRAMS.

11. CERTIFICATION SIGNATURE FORMS

    Complete form DOTF2307-1 Drug-Free Workplace Act Certification,
and Form DOTF2308-1 Certification Regarding Lobbying for Contracts,
Grants, Loans, and Cooperative Agreements.

SIGNED CONFLICT OF INTEREST STATEMENTS

    The statements must say that they, or members of their immediate
families, do not have a personal, business or financial interest in
any DOT-funded transportation projects, nor any relationships with
local or state transportation agencies that may have the appearance
of a conflict of interest.

12. STANDARD FORM 424

    Complete Standard Form 424 Application for Federal Assistance.
Note: All forms can be downloaded from U.S. Department of
Transportation Web site at http://www.dot.gov/gsearch/424%2Bform.

PLEASE BE SURE THAT ALL FORMS HAVE BEEN SIGNED BY AN AUTHORIZED
OFFICIAL WHO CAN LEGALLY REPRESENT THE ORGANIZATION.

    Issued in Washington, DC, on January 11, 2013.
Brandon Neal,
Director, Office of Small and Disadvantaged Business Utilization,
Office of the Secretary, U.S. Department of Transportation.
[FR Doc. 2013-01290 Filed 1-22-13; 8:45 am]
BILLING CODE 4910-9X-P


[Federal Register Volume 88, Number 4 (Friday, January 6, 2023)]
[Rules and Regulations]
[Pages 986-990]
[FR Doc No: 2022-28611]

=======================================================================
-----------------------------------------------------------------------

ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 19

[FRL-5906.7-01-OECA]

Civil Monetary Penalty Inflation Adjustment

AGENCY: Environmental Protection Agency (EPA).

ACTION: Final rule.

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

SUMMARY: The Environmental Protection Agency (EPA) is promulgating this
final rule to adjust the level of the maximum (and minimum) statutory
civil monetary penalty amounts under the statutes the EPA administers.
This action is mandated by the Federal Civil Penalties Inflation
Adjustment Act of 1990, as amended through the Federal Civil Penalties
Inflation Adjustment Act Improvements Act of 2015 (``the 2015 Act'').
The 2015 Act prescribes a formula for annually adjusting the statutory
maximum (and minimum) amount of civil monetary penalties to reflect
inflation, maintain the deterrent effect of statutory civil monetary
penalties, and promote compliance with the law. The rule does not
establish specific civil monetary penalty amounts the EPA may seek in
particular cases, as appropriate given the facts of particular cases
and applicable agency penalty policies. The EPA's civil penalty
policies, which guide enforcement personnel on how to exercise the
EPA's discretion within statutory penalty authorities, take into
account a number of fact-specific considerations, e.g., the seriousness
of the violation, the violator's good faith efforts to comply, any
economic benefit gained by the violator as a result of its
noncompliance, and the violator's ability to pay.

DATES: This final rule is effective January 6, 2023.

FOR FURTHER INFORMATION CONTACT: David Smith-Watts, Office of Civil
Enforcement, Office of Enforcement and Compliance Assurance, Mail Code
2241A, Environmental Protection Agency, 1200 Pennsylvania Avenue NW,
Washington, DC 20460, telephone number:<PHONE_NUMBER>; [email protected].

SUPPLEMENTARY INFORMATION:

I. Background

    The 2015 Act \1\ requires each Federal agency to adjust the level
of statutory civil monetary penalties under the laws implemented by
that agency with annual adjustments to account for inflation. Section 4
of the 2015 Act requires each Federal agency to publish these
adjustments by January 15 of each year. The purpose of the 2015 Act is
to maintain the deterrent effect of civil monetary penalties by
translating originally enacted statutory civil penalty amounts to
today's dollars and rounding statutory civil penalties to the nearest
dollar.
---------------------------------------------------------------------------

    \1\ The Federal Civil Penalties Inflation Adjustment Act
Improvements Act of 2015 (Section 701 of Pub. L.114-74) was signed
into law on November 2, 2015, and further amended the Federal Civil
Penalties Inflation Adjustment Act of 1990.
---------------------------------------------------------------------------

    Since January 15, 2017, the EPA has made six annual adjustments: on
January 12, 2017, effective on January 15, 2017 (82 FR 3633); on
January 10, 2018, effective on January 15, 2018 (83 FR 1190); on
February 6, 2019, effective the same day (84 FR 2056), with a
subsequent correction on February 25, 2019 (84 FR 5955); on January 13,
2020, effective the same day (85 FR 1751); on December 23, 2020,
effective the same day (85 FR 83818); and on January 12,

2022, effective the same day (87 FR 1676). This rule implements the
seventh annual adjustment mandated by the 2015 Act.
    The 2015 Act provides a formula for calculating the adjustments.
Each statutory maximum and minimum \2\ civil monetary penalty, as
currently adjusted, is multiplied by the cost-of-living adjustment
multiplier, which is the percentage by which the Consumer Price Index
for all Urban Consumers (CPI-U) for the month of October 2022 exceeds
the CPI-U for the month of October 2021.\3\
---------------------------------------------------------------------------

    \2\ Under Section 3(2)(A) of the 2015 Act, a `` `civil monetary
penalty' [is] any penalty, fine or other sanction that--is for a
specific monetary amount as provided by Federal law; or has a
maximum amount provided for by Federal law.'' EPA-administered
statutes generally refer to statutory maximum penalties, with the
following exceptions: Section 311(b)(7)(D) of the Clean Water Act,
33 U.S.C. 1321(b)(7)(D), refers to a minimum penalty of ``not less
than $100,000 . . .''; Section 104b(d)(1)(A) of the Marine
Protection, Research, and Sanctuaries Act, 33 U.S.C. 1414b(d)(1)(A),
refers to an exact penalty of $600 ``[f]or each dry ton (or
equivalent) of sewage sludge or industrial waste dumped or
transported by the person in violation of this subsection in
calendar year 1992 . . .''; and Section 325(d)(1) of the Emergency
Planning and Community Right-to-Know Act, 42 U.S.C. 11045(d)(1),
refers to an exact civil penalty of $25,000 for each frivolous trade
secret claim.
    \3\ Current and historical CPI-U's can be found on the Bureau of
Labor Statistics' website here: https://www.bls.gov/cpi/tables/supplemental-files/historical-cpi-u-202210.pdf.
---------------------------------------------------------------------------

    With this rule, the new statutory maximum and minimum penalty
levels listed in the third column of Table 1 of 40 CFR 19.4 will apply
to all civil monetary penalties assessed on or after January 6, 2023,
for violations that occurred after November 2, 2015, the date the 2015
Act was enacted. The former maximum and minimum statutory civil
monetary penalty levels, which are in the fourth column of Table 1 to
40 CFR 19.4, will now apply only to violations that occurred after
November 2, 2015, where the penalties were assessed on or after January
12, 2022, but before January 6, 2023. The statutory civil monetary
penalty levels that apply to violations that occurred on or before
November 2, 2015, are codified at Table 2 to 40 CFR 19.4. The fifth
column of Table 1 and the seventh column of Table 2 display the
statutory civil monetary penalty levels as originally enacted.
    The formula for determining the cost-of-living or inflation
adjustment to statutory civil monetary penalties consists of the
following steps:
    Step 1: The cost-of-living adjustment multiplier for 2023 is the
percentage by which the CPI-U of October 2022 (298.012) exceeds the
CPI-U for the month of October 2021 (276.589), which is 1.07745.\4\
Multiply 1.07745 by the current penalty amount. This is the raw
adjusted penalty value.
---------------------------------------------------------------------------

    \4\ Section 5(b) of the 2015 Act provides that the term ``cost-
of-living adjustment'' means the percentage (if any) for each civil
monetary penalty by which--
    (A) the Consumer Price Index for the month of October preceding
the date of the adjustment, exceeds
    (B) the Consumer Price Index for the month of October 1 year
before the month of October referred to in subparagraph (A).
    Because the CPI-U for October 2022 is 298.012 and the CPI-U for
October 2021 is 276.589, the cost-of-living multiplier is 1.07745
(298.012 divided by 276.589).
---------------------------------------------------------------------------

    Step 2: Round the raw adjusted penalty value. Section 5 of the 2015
Act states that any adjustment shall be rounded to the nearest multiple
of $1. The result is the final penalty value for the year.

II. The 2015 Act Requires Federal Agencies To Publish Annual Penalty
Inflation Adjustments Notwithstanding Section 553 of the Administrative
Procedure Act

    Pursuant to section 4 of the 2015 Act, each Federal agency is
required to publish adjustments no later than January 15 each year. In
accordance with section 553 of the Administrative Procedure Act (APA),
5 U.S.C. 553, most rules are subject to notice and comment and are
effective no earlier than 30 days after publication in the Federal
Register. However, section 4(b)(2) of the 2015 Act provides that each
agency shall make the annual inflation adjustments ``notwithstanding
section 553'' of the APA. Consistent with the language of the 2015 Act,
this rule is not subject to notice and an opportunity for public
comment and will be effective on January 6, 2023.

III. Statutory and Executive Order Reviews

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

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

    This action is not a significant regulatory action and was
therefore not submitted to the Office of Management and Budget (OMB)
for review.

B. Paperwork Reduction Act (PRA)

    This action does not impose an information collection burden under
the PRA. This rule merely increases the level of statutory civil
monetary penalties that can be imposed in the context of a Federal
civil administrative enforcement action or civil judicial case for
violations of EPA-administered statutes and their implementing
regulations.

C. Regulatory Flexibility Act (RFA)

    This action is not subject to the RFA. The RFA applies only to
rules subject to notice and comment rulemaking requirements under the
Administrative Procedure Act (APA), 5 U.S.C. 553, or any other statute.
Because the 2015 Act directs Federal agencies to publish this rule
notwithstanding section 553 of the APA, this rule is not subject to
notice and comment requirements or the RFA.

D. Unfunded Mandates Reform Act (UMRA)

    This action does not contain any unfunded mandate as described in
UMRA, 2 U.S.C. 1531-1538, and does not significantly or uniquely affect
small governments. This action is required by the 2015 Act, without the
exercise of any policy discretion by the EPA. This action also imposes
no enforceable duty on any state, local or tribal governments or the
private sector. Because the calculation of any increase is formula-
driven pursuant to the 2015 Act, the EPA has no policy discretion to
vary the amount of the adjustment.

E. Executive Order 13132: Federalism

    This action does not have federalism implications. It will not have
a substantial direct effect on the States, on the relationship between
the National Government and the States, or on the distribution of power
and responsibilities among the various levels of government.

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

    This action does not have tribal implications as specified in
Executive Order 13175. This rule merely reconciles the real value of
current statutory civil monetary penalty levels to reflect and keep
pace with the levels originally set by Congress when the statutes were
enacted or amended. The calculation of the increases is formula-driven
and prescribed by statute, and the EPA has no discretion to vary the
amount of the adjustment to reflect any views or suggestions provided
by commenters. Accordingly, this rule will not have a substantial
direct effect on tribal governments, on the relationship between the
Federal Government and Indian tribes, or on the distribution of power
and responsibilities between the Federal Government and Indian tribes.

Thus, Executive Order 13175 does not apply to this action.

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

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

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

    This action is not subject to Executive Order 13211, because it is
not a significant regulatory action under Executive Order 12866.

I. National Technology Transfer and Advancement Act (NTTAA)

    The rulemaking does not involve technical standards.

J. Executive Order 12898: Federal Actions To Address Environmental
Justice in Minority Populations and Low-Income Populations

    Executive Order 12898 (59 FR 7629, February 16, 1994) directs
federal agencies, to the greatest extent practicable and permitted by
law, to make environmental justice part of their mission by identifying
and addressing, as appropriate, disproportionately high and adverse
human health or environmental effects of their programs, policies, and
activities on minority populations (people of color) and low-income
populations.
    The EPA believes that this type of action does not concern human
health or environmental conditions and therefore cannot be evaluated
with respect to potentially disproportionate and adverse effects on
people of color, low-income populations and/or Indigenous peoples.
Rather, this action is mandated by the 2015 Act, which prescribes a
formula for adjusting statutory civil penalties on an annual basis to
reflect inflation.

K. Congressional Review Act (CRA)

    This action is subject to the CRA, and the EPA will submit a rule
report to each House of the Congress and to the Comptroller General of
the United States. The CRA allows the issuing agency to make a rule
effective sooner than otherwise provided by the CRA if the agency makes
a good cause finding that notice and comment rulemaking procedures are
impracticable, unnecessary or contrary to the public interest (5 U.S.C.
808(2)). The EPA finds that the APA's notice and comment rulemaking
procedures are unnecessary because the 2015 Act directs Federal
agencies to publish their annual penalty inflation adjustments
``notwithstanding section 553 [of the APA].''

List of Subjects in 40 CFR Part 19

    Environmental protection, Administrative practice and procedure,
Penalties.

Michael S. Regan,
Administrator.

    For the reasons set out in the preamble, the EPA amends title 40,
chapter I, part 19 of the Code of Federal Regulations as follows:

PART 19--ADJUSTMENT OF CIVIL MONETARY PENALTIES FOR INFLATION

0
1. The authority citation for part 19 continues to read as follows:

    Authority: Pub. L. 101-410, Oct. 5, 1990, 104 Stat. 890, as
amended by Pub. L. 104-134, title III, sec. 31001(s)(1), Apr. 26,
1996, 110 Stat. 1321-373; Pub. L. 105-362, title XIII, sec. 1301(a),
Nov. 10, 1998, 112 Stat. 3293; Pub. L. 114-74, title VII, sec.
701(b), Nov. 2, 2015, 129 Stat. 599.

0
2. Revise Sec.  19.2 to read as follows:

Sec.  19.2  Effective date.

    (a) The statutory civil monetary penalty levels set forth in the
third column of Table 1 of Sec.  19.4 apply to all violations which
occur or occurred after November 2, 2015, where the penalties are
assessed on or after January 6, 2023. The statutory civil monetary
penalty levels set forth in the fourth column of Table 1 of Sec.  19.4
apply to all violations which occurred after November 2, 2015, where
the penalties were assessed on or after January 12, 2022, but before
January 6, 2023.
    (b) The statutory monetary penalty levels in the third column of
Table 2 to Sec.  19.4 apply to all violations which occurred after
December 6, 2013 through November 2, 2015, and to violations occurring
after November 2, 2015, where penalties were assessed before August 1,
2016. The statutory civil monetary penalty levels set forth in the
fourth column of Table 2 of Sec.  19.4 apply to all violations which
occurred after January 12, 2009 through December 6, 2013. The statutory
civil monetary penalty levels set forth in the fifth column of Table 2
of Sec.  19.4 apply to all violations which occurred after March 15,
2004 through January 12, 2009. The statutory civil monetary penalty
levels set forth in the sixth column of Table 2 of Sec.  19.4 apply to
all violations which occurred after January 30, 1997 through March 15,
2004.

0
3. Amend Sec.  19.4 by revising the section heading, introductory text,
and Table 1 of Sec.  19.4 to read as follows:

Sec.  19.4  Statutory civil monetary penalties, as adjusted for
inflation, and tables.

    Table 1 of this section sets out the statutory civil monetary
penalty provisions of statutes administered by the EPA, with the third
column setting out the latest operative statutory civil monetary
penalty levels for violations that occur or occurred after November 2,
2015, where penalties are assessed on or after January 6, 2023. The
fourth column displays the operative statutory civil monetary penalty
levels where penalties were assessed on or after January 12, 2022, but
before January 6, 2023. Table 2 of this section sets out the statutory
civil monetary penalty provision of statutes administered by the EPA,
with the operative statutory civil monetary penalty levels, as adjusted
for inflation, for violations that occurred on or before November 2,
2015, and for violations that occurred after November 2, 2015, where
penalties were assessed before August 1, 2016.

                                          Table 1 of Sec.   19.4--Civil Monetary Penalty Inflation Adjustments
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                Statutory civil
                                                                                Statutory civil       monetary penalties for
                                                                                monetary penalties for      violations that
                                                                                violations that occur   occurred after November      Statutory civil
             U.S. Code citation                    Environmental statute          or occurred after          2, 2015, where       monetary penalties, as
                                                                               November 2, 2015, where  penalties were assessed          enacted
                                                                                penalties are assessed  on or after January 12,
                                                                                on or after January 6,      2022, but before
                                                                                2023               January 6, 2023
--------------------------------------------------------------------------------------------------------------------------------------------------------
7 U.S.C. 136l(a)(1).........................  FEDERAL INSECTICIDE, FUNGICIDE,                  $23,494                  $21,805                   $5,000
                                               AND RODENTICIDE ACT (FIFRA).

7 U.S.C. 136l(a)(2) \1\.....................  FIFRA..........................        3,446/2,221/3,446        3,198/2,061/3,198          1,000/500/1,000
15 U.S.C. 2615(a)(1)........................  TOXIC SUBSTANCES CONTROL ACT                      46,989                   43,611                   25,000
                                               (TSCA).
15 U.S.C. 2647(a)...........................  TSCA...........................                   13,508                   12,537                    5,000
15 U.S.C. 2647(g)...........................  TSCA...........................                   11,162                   10,360                    5,000
31 U.S.C. 3802(a)(1)........................  PROGRAM FRAUD CIVIL REMEDIES                      13,508                   12,537                    5,000
                                               ACT (PFCRA).
31 U.S.C. 3802(a)(2)........................  PFCRA..........................                   13,508                   12,537                    5,000
33 U.S.C. 1319(d)...........................  CLEAN WATER ACT (CWA)..........                   64,618                   59,973                   25,000
33 U.S.C. 1319(g)(2)(A).....................  CWA............................            25,847/64,618            23,989/59,973            10,000/25,000
33 U.S.C. 1319(g)(2)(B).....................  CWA............................           25,847/323,081           23,989/299,857           10,000/125,000
33 U.S.C. 1321(b)(6)(B)(i)..................  CWA............................            22,324/55,808            20,719/51,796            10,000/25,000
33 U.S.C. 1321(b)(6)(B)(ii).................  CWA............................           22,324/279,036           20,719/258,978           10,000/125,000
33 U.S.C. 1321(b)(7)(A).....................  CWA............................             55,808/2,232             51,796/2,072             25,000/1,000
33 U.S.C. 1321(b)(7)(B).....................  CWA............................                   55,808                   51,796                   25,000
33 U.S.C. 1321(b)(7)(C).....................  CWA............................                   55,808                   51,796                   25,000
33 U.S.C. 1321(b)(7)(D).....................  CWA............................            223,229/6,696            207,183/6,215            100,000/3,000
33 U.S.C. 1414b(d)(1)(A)....................  MARINE PROTECTION, RESEARCH,                       1,487                    1,380                      600
                                               AND SANCTUARIES ACT (MPRSA).
33 U.S.C. 1415(a)...........................  MPRSA..........................          234,936/309,909          218,048/287,632           50,000/125,000
33 U.S.C. 1901 note (see 1409(a)(2)(A)).....  CERTAIN ALASKAN CRUISE SHIP                17,128/42,818            15,897/39,740            10,000/25,000
                                               OPERATIONS (CACSO).
33 U.S.C. 1901 note (see 1409(a)(2)(B)).....  CACSO..........................           17,128/214,087           15,897/198,698           10,000/125,000
33 U.S.C. 1901 note (see 1409(b)(1))........  CACSO..........................                   42,818                   39,740                   25,000
33 U.S.C. 1908(b)(1)........................  ACT TO PREVENT POLLUTION FROM                     87,855                   81,540                   25,000
                                               SHIPS (APPS).
33 U.S.C. 1908(b)(2)........................  APPS...........................                   17,570                   16,307                    5,000
42 U.S.C. 300g-3(b).........................  SAFE DRINKING WATER ACT (SDWA).                   67,544                   62,689                   25,000
42 U.S.C. 300g-3(g)(3)(A)...................  SDWA...........................                   67,544                   62,689                   25,000
42 U.S.C. 300g-3(g)(3)(B)...................  SDWA...........................            13,508/47,061            12,537/43,678             5,000/25,000
42 U.S.C. 300g-3(g)(3)(C)...................  SDWA...........................                   47,061                   43,678                   25,000
42 U.S.C. 300h-2(b)(1)......................  SDWA...........................                   67,544                   62,689                   25,000
42 U.S.C. 300h-2(c)(1)......................  SDWA...........................           27,018/337,725           25,076/313,448           10,000/125,000
42 U.S.C. 300h-2(c)(2)......................  SDWA...........................           13,508/337,725           12,537/313,448            5,000/125,000
42 U.S.C. 300h-3(c).........................  SDWA...........................            23,494/50,120            21,805/46,517             5,000/10,000
42 U.S.C. 300i(b)...........................  SDWA...........................                   28,239                   26,209                   15,000
42 U.S.C. 300i-1(c).........................  SDWA...........................        164,373/1,643,738        152,557/1,525,582        100,000/1,000,000
42 U.S.C. 300j(e)(2)........................  SDWA...........................                   11,746                   10,902                    2,500
42 U.S.C. 300j-4(c).........................  SDWA...........................                   67,544                   62,689                   25,000
42 U.S.C. 300j-6(b)(2)......................  SDWA...........................                   47,061                   43,678                   25,000
42 U.S.C. 300j-23(d)........................  SDWA...........................           12,397/123,965           11,506/115,054             5,000/50,000
42 U.S.C. 4852d(b)(5).......................  RESIDENTIAL LEAD-BASED PAINT                      21,018                   19,507                   10,000
                                               HAZARD REDUCTION ACT OF 1992.
42 U.S.C. 4910(a)(2)........................  NOISE CONTROL ACT OF 1972......                   44,411                   41,219                   10,000
42 U.S.C. 6928(a)(3)........................  RESOURCE CONSERVATION AND                        117,468                  109,024                   25,000
                                               RECOVERY ACT (RCRA).
42 U.S.C. 6928(c)...........................  RCRA...........................                   70,752                   65,666                   25,000
42 U.S.C. 6928(g)...........................  RCRA...........................                   87,855                   81,540                   25,000
42 U.S.C. 6928(h)(2)........................  RCRA...........................                   70,752                   65,666                   25,000
42 U.S.C. 6934(e)...........................  RCRA...........................                   17,570                   16,307                    5,000
42 U.S.C. 6973(b)...........................  RCRA...........................                   17,570                   16,307                    5,000
42 U.S.C. 6991e(a)(3).......................  RCRA...........................                   70,752                   65,666                   25,000
42 U.S.C. 6991e(d)(1).......................  RCRA...........................                   28,304                   26,269                   10,000
42 U.S.C. 6991e(d)(2).......................  RCRA...........................                   28,304                   26,269                   10,000
42 U.S.C. 7413(b)...........................  CLEAN AIR ACT (CAA)............                  117,468                  109,024                   25,000
42 U.S.C. 7413(d)(1)........................  CAA............................           55,808/446,456           51,796/414,364           25,000/200,000
42 U.S.C. 7413(d)(3)........................  CAA............................                   11,162                   10,360                    5,000
42 U.S.C. 7524(a)...........................  CAA............................             55,808/5,580             51,796/5,179             25,000/2,500
42 U.S.C. 7524(c)(1)........................  CAA............................                  446,456                  414,364                  200,000
42 U.S.C. 7545(d)(1)........................  CAA............................                   55,808                   51,796                   25,000
42 U.S.C. 9604(e)(5)(B).....................  COMPREHENSIVE ENVIRONMENTAL                       67,544                   62,689                   25,000
                                               RESPONSE, COMPENSATION, AND
                                               LIABILITY ACT (CERCLA).
42 U.S.C. 9606(b)(1)........................  CERCLA.........................                   67,544                   62,689                   25,000
42 U.S.C. 9609(a)(1)........................  CERCLA.........................                   67,544                   62,689                   25,000
42 U.S.C. 9609(b)...........................  CERCLA.........................           67,544/202,635           62,689/188,069            25,000/75,000
42 U.S.C. 9609(c)...........................  CERCLA.........................           67,544/202,635           62,689/188,069            25,000/75,000
42 U.S.C. 11045(a)..........................  EMERGENCY PLANNING AND                            67,544                   62,689                   25,000
                                               COMMUNITY RIGHT-TO-KNOW ACT
                                               (EPCRA).
42 U.S.C. 11045(b)(1)(A)....................  EPCRA..........................                   67,544                   62,689                   25,000
42 U.S.C. 11045(b)(2).......................  EPCRA..........................           67,544/202,635           62,689/188,069            25,000/75,000
42 U.S.C. 11045(b)(3).......................  EPCRA..........................           67,544/202,635           62,689/188,069            25,000/75,000
42 U.S.C. 11045(c)(1).......................  EPCRA..........................                   67,544                   62,689                   25,000

42 U.S.C. 11045(c)(2).......................  EPCRA..........................                   27,018                   25,076                   10,000
42 U.S.C. 11045(d)(1).......................  EPCRA..........................                   67,544                   62,689                   25,000
42 U.S.C. 14304(a)(1).......................  MERCURY-CONTAINING AND                            18,827                   17,474                   10,000
                                               RECHARGEABLE BATTERY
                                               MANAGEMENT ACT (BATTERY ACT).
42 U.S.C. 14304(g)..........................  BATTERY ACT....................                   18,827                   17,474                   10,000
--------------------------------------------------------------------------------------------------------------------------------------------------------
\1\ Note that 7 U.S.C. 136l(a)(2) contains three separate statutory maximum civil penalty provisions. The first mention of 1,000 and the 500 statutory
  maximum civil penalty amount were originally enacted in 1978 (Pub. L 95-396), and the second mention of 1,000 was enacted in 1972 (Pub. L. 92-516).

* * * * *
[FR Doc. 2022-28611 Filed 1-5-23; 8:45 am]
BILLING CODE 6560-50-P


[Federal Register Volume 80, Number 226 (Tuesday, November 24, 2015)]
[Notices]
[Pages 73266-73267]
[FR Doc No: 2015-29916]

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DEPARTMENT OF TRANSPORTATION

Federal Aviation Administration

Approval of Noise Compatibility Program, Ted Stevens Anchorage
International Airport and Lake Hood Seaplane Base, Anchorage, AK

AGENCY: Federal Aviation Administration, DOT.

ACTION: Notice.

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

SUMMARY: The Federal Aviation Administration (FAA) announces its
findings on the Noise Compatibility Program submitted by the Alaska
Department of Transportation & Public Facilities (ADOT&PF) under the
provisions of 49 U.S.C. (the Aviation Safety and Noise Abatement Act,
hereinafter referred to as ``the Act'') and 14 CFR Part 150. These
findings are made in recognition of the description of Federal and
nonfederal responsibilities in Senate Report No. 96-52 (1980). On July
27, 2015, the FAA determined that the noise exposure maps (NEM)
submitted by the ADOT&PF under Part 150 were in compliance with
applicable requirements. On November 17, 2015, the FAA approved the Ted
Stevens Anchorage International Airport (ANC) and Lake Hood Seaplane
Base (LHD) noise compatibility program (NCP). Most of the
recommendations of the program were approved.

DATES: Effective Date: The effective date of the FAA's approval of the
ANC and LHD NCP is November 17, 2015.

FOR FURTHER INFORMATION CONTACT: Leslie Grey, Federal Aviation
Administration, Alaskan Region Airports Division, 222 W. 7th Avenue,
Annex Building, Rm. A36, Anchorage, Alaska 99513, phone number: 907-
271-5453. Documents reflecting this FAA action may be reviewed at this
same location by appointment with the above contact.

SUPPLEMENTARY INFORMATION: This notice announces that the FAA has given
its overall approval to the NCP for ANC and LHD effective November 17,
2015.
    Under Section 47504 of the Act, an airport operator who has
previously submitted a NEM may submit to the FAA a NCP which sets forth
the measures taken or proposed by the airport operator for the
reduction of existing non-compatible land uses and prevention of
additional non-compatible land uses within the area covered by the NEM.
The Act requires such programs to be developed in consultation with
interested and affected parties including local communities, government
agencies, airport users, and FAA personnel.
    Each airport NCP developed in accordance with Title 14 Code of
Federal Regulations (CFR) Part 150 is a local program, not a Federal
Program. The FAA does not substitute its judgment for that of the
airport operator with respect to which measures should be recommended
for action. The FAA's approval or disapproval of each specific measure
proposed by an airport sponsor in an Record of Approval (ROA) is
determined by applying approval criteria prescribed in 14 CFR
150.35(b):
    The Administrator approves programs under this part, if--
    (1) It is found that the program measures to be implemented would
not create an undue burden on interstate or foreign commerce (including
any unjust discrimination) and are reasonably consistent with achieving
the goals of reducing existing noncompatible land uses around the
airport and of preventing the introduction of additional noncompatible
land uses;
    (2) The program provides for revision if made necessary by the
revision of the noise map; and
    (3) Those aspects of programs relating to the use of flight
procedures for noise control can be implemented within the period
covered by the program and without--
    (i) Reducing the level of aviation safety provided;
    (ii) Derogating the requisite level of protection for aircraft,
their occupants and persons and property on the ground;
    (iii) Adversely affecting the efficient use and management of the
Navigable

Airspace and Air Traffic Control Systems; or
    (iv) Adversely affecting any other powers and responsibilities of
the Administrator prescribed by law or any other program, standard, or
requirement established in accordance with law.
    Approval is not a determination concerning the acceptability of
land uses under Federal, state, or local law. Approval does not by
itself constitute an FAA implementing action. A request for Federal
action or approval to implement specific noise compatibility measures
may be required, and an FAA decision on the request may require an
environmental assessment of the proposed action. Approval does not
constitute a commitment by the FAA to financially assist in the
implementation of the program nor a determination that all measures
covered by the program are eligible for grant-in-aid funding from the
FAA. Where Federal funding is sought, requests for project grants must
be submitted to the FAA Airports District Office in Anchorage, AK.
    ADOT&PF submitted to the FAA on December 19, 2014, the NEM,
descriptions, and other documentation produced during the NCP planning
study conducted from November 17, 2011 through December 19, 2014. The
ANC and LHD NEMs were determined by FAA to be in compliance with
applicable requirements on July 27, 2015. Notice of this determination
was published in the Federal Register on July 31, 2015.
    The ANC and LHD study contains a proposed NCP comprised of actions
designed for phased implementation by airport management and adjacent
jurisdictions from November 17, 2015 to the year 2020. It was requested
that FAA evaluate and approve this material as a NCP as described in
Section 47504 of the Act. The FAA began its review of the NCP on July
27, 2015, and was required by provisions of the Act to approve or
disapprove the program within 180-days (other than the use of new or
modified flight procedures for noise control). Failure to approve or
disapprove such program within the 180-day period shall be deemed to be
an approval of such program.
    The submitted program contained fifteen (15) proposed actions for
noise mitigation on and off the airport. The FAA completed its review
and determined that the procedural and substantive requirements of the
Act and 14 CFR Part 150 have been satisfied. The overall program,
therefore, was approved by the FAA effective November 17, 2015.
    Outright approval was granted for twelve (12) proposed actions on
and/or off the airport. Two of the proposed measures in the NCP were
disapproved for purposes of 14 CFR Part 150 because the measures
benefit land uses with noise levels below the 65 DNL. Another measure
was disapproved because it is eligible for funding as a terminal
improvement per the AIP Handbook. However, these measures could be
implemented by the Airport Sponsor on a voluntary basis.
    These determinations are set forth in detail in a Record of
Approval (ROA) signed by the FAA on November 17, 2015. The Record of
Approval, as well as other evaluation materials and the documents
comprising the submittal, are available for review at the FAA office
listed above and at the administrative office of the ADOT&PF. The
Record of Approval also will be available on-line at: http://www.faa.gov/airports/environmental/airport_noise/part_150/states/ak/.

    Issued in Anchorage, Alaska on November 17, 2015.
Kristi A. Warden,
Acting Division Manager, Alaskan Region Airports Division.
[FR Doc. 2015-29916 Filed 11-23-15; 8:45 am]
 BILLING CODE 4910-13-P


[Federal Register Volume 81, Number 177 (Tuesday, September 13, 2016)]
[Notices]
[Pages 62963-62965]
[FR Doc No: 2016-21910]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-78778; File Nos. SR-DTC-2016-007; SR-FICC-2016-005; SR-
NSCC-2016-003]

Self-Regulatory Organizations; The Depository Trust Company;
Fixed Income Clearing Corporation; National Securities Clearing
Corporation; Notice of Filing of Proposed Rule Changes Relating to
Clearing Agency Investment Policy

September 7, 2016.
    Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934
(``Act'') \1\ and Rule 19b-4,\2\ notice is hereby given that on August
25, 2016, The Depository Trust Company (``DTC''), Fixed Income Clearing
Corporation (``FICC''), and National Securities Clearing Corporation
(``NSCC'', and together with DTC and FICC, the ``Clearing Agencies'')
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 Clearing Agencies. The Commission is
publishing this notice to solicit comments on the proposed rule change
from interested persons.
---------------------------------------------------------------------------

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

I. Clearing Agency's Statement of the Terms of Substance of the
Proposed Rule Change

    The proposed rule change would adopt the Clearing Agency Investment
Policy, which governs the investment of funds of the Clearing Agencies,
as described below. This proposed rule change does not require any
changes to the Rules & Procedures of NSCC (``NSCC Rules''), the DTC
Rules, By-laws and Organizational Certificate (``DTC Rules''), the
Clearing Rules of the Mortgage-Backed Securities Division of FICC
(``MBSD Rules'') or the Rulebook of the Government Securities Division
of FICC (``GSD Rules'').\3\
---------------------------------------------------------------------------

    \3\ Capitalized terms not defined herein are defined in the NSCC
Rules, DTC Rules, MBSD Rules or GSD Rules, as applicable, available
at http://dtcc.com/legal/rules-and-procedures.
---------------------------------------------------------------------------

II. Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

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

(A) Clearing Agency's Statement of the Purpose of, and Statutory Basis
for, the Proposed Rule Change

1. Purpose
    The Clearing Agencies have adopted the Clearing Agency Investment
Policy to govern the management, custody, and investment of cash
deposited to the respective NSCC and FICC Clearing Funds, and the DTC
Participants Fund,\4\ the proprietary liquid net assets (cash and cash
equivalents) of the Clearing Agencies, and other funds held by the
Clearing Agencies pursuant to their respective rules, as described
below. Investment of these funds was previously governed by the
investment policy of the parent company of the Clearing Agencies, The
Depository Trust & Clearing Corporation (``DTCC''). The Clearing Agency
Investment Policy would include a glossary of key terms, the roles and
responsibilities of DTCC staff in administering the Clearing Agency
Investment Policy, guiding principles for investments, sources of
investable funds, allowable investments of those funds, limitations on
such investments, authority required for those investments and
authority required to exceed established investment limits, as
described below.
---------------------------------------------------------------------------

    \4\ The NSCC and FICC Clearing Funds, and the DTC Participants
Fund are described further in the rules of each of the Clearing
Agencies. See Rule 4 (Clearing Fund) of the NSCC Rules, Rule 4
(Participants Fund and Participants Investment) of the DTC Rules,
Rule 4 (Clearing Fund and Loss Allocation) of the GSD Rules and Rule
4 (Clearing Fund and Loss Allocation) of the MBSD Rules. Supra, note
3.
---------------------------------------------------------------------------

Governance and Responsibilities
    The Clearing Agency Investment Policy would be co-owned by DTCC's
Treasury group (``Treasury'') \5\ and the Counterparty Credit Risk team
(``CCR'') within DTCC's Financial Risk

Management group.\6\ Additionally, the Clearing Agency Investment
Policy would be reviewed annually and material changes would be
required to be approved by the Board of Directors of each of NSCC, DTC
and FICC (the ``Boards''), or such other committee to which such
authority may be delegated by the Boards from time to time. Future
changes to the Clearing Agency Investment Policy would be subject to a
subsequent rule filing and approval by the Commission.
---------------------------------------------------------------------------

    \5\ Treasury is a part of the DTCC Finance Department and is
responsible for the safeguarding, investment and disbursement of
funds on behalf of the Clearing Agencies and in accordance with the
principles outlined in the Clearing Agency Investment Policy.
    \6\ Among other responsibilities, DTCC's Financial Risk
Management group (formerly known as DTCC's ``Enterprise Risk
Management'' group) is generally responsible for the systems and
processes designed to identify and manage credit, market and
liquidity risks to the Clearing Agencies.
---------------------------------------------------------------------------

    Treasury would be responsible for identifying potential
counterparties to investment transactions, establishing and managing
investment relationships with approved investment counterparties, and
making and monitoring all investment transactions with respect to the
Clearing Agencies. Additionally, Treasury would be responsible for
managing, monitoring and internal reporting of investment capacity
utilization relative to established aggregate investment limits.\7\
---------------------------------------------------------------------------

    \7\ All investments are subject to limits set by type of
allowable investment and by counterparty. Investment limits are set
at an aggregate DTCC-wide level and would apply to investments made
by any of DTCC and each of its subsidiaries, including each of the
Clearing Agencies.
---------------------------------------------------------------------------

    CCR would be responsible for conducting a credit review of any
potential counterparty, updating those reviews on a quarterly basis and
establishing the investment limit for each counterparty approved by
CCR. In conducting a credit review, CCR would evaluate the
creditworthiness of counterparties based on a number of factors,
including the credit ratings provided by external credit rating
agencies. Counterparties generally would be required to meet a minimum
external credit rating set forth in the Clearing Agency Investment
Policy; however, CCR would be permitted to grant an exception to the
minimum external credit rating requirement for a particular
counterparty where CCR concludes that approving exposures to that
counterparty would serve a valid business or investment purposes [sic]
of the Clearing Agencies and the risk of loss or default to the
Clearing Agencies is assessed as minimal. CCR could grant an exception
on the foregoing basis based on an assessment of the counterparty's
capitalization levels, liquidity resources, earnings trends and any
other relevant information, and any such exception would be approved by
a Managing Director in DTCC's Financial Risk Management group in
accordance with the Clearing Fund [sic] Investment Policy.
Clearing Agency Investment Policy Overview
    The Clearing Agency Investment Policy would identify permitted
investments and the parameters of, and limitations on, each type of
investment. In general, assets would be required to be held by
regulated and creditworthy financial institution counterparties and
invested in specified types of financial instruments. Permitted
financial investments may include, for example, deposits with banks,
including the Federal Reserve Bank of New York (``FRBNY''),
collateralized reverse-repurchase agreements, direct obligations of the
U.S. government, money-market mutual funds and high-grade corporate
debt.\8\ Additionally, the Clearing Agencies would, pursuant to the
Clearing Agency Investment Policy, be permitted to use general
corporate funds, and only such funds, to enter into hedge transactions
to manage certain corporate exposures, such as interest rate or foreign
currency risk; hedge transactions would not be permitted to be engaged
in for speculative purposes.
---------------------------------------------------------------------------

    \8\ Only general corporate funds of a Clearing Agency would be
permitted to be invested in high-grade corporate debt.
---------------------------------------------------------------------------

    The Clearing Agency Investment Policy would set forth guiding
principles for the investment of funds, which include adherence to a
prudent and conservative investment philosophy that places the highest
priority on maximizing liquidity and avoiding risk. The guiding
principles would also mandate the segregation and separation of
deposits to the respective NSCC and FICC Clearing Funds and the DTC
Participants Fund, so that such amounts are not commingled with each
other or with other funds held by the Clearing Agencies. The guiding
principles would also address the process for evaluating the credit
ratings of counterparties and setting investment limits, which would be
evaluated, reviewed and approved quarterly by CCR. Finally, the guiding
principles would make clear that risk of investment loss is addressed
by the rules of each of the Clearing Agencies.
    Funds invested pursuant to the Clearing Agency Investment Policy
would include (i) cash deposits to the respective NSCC and FICC
Clearing Funds and the DTC Participants Fund, (ii) general corporate
funds of each of the Clearing Agencies, (iii) NSCC's prefunded default
liquidity funds raised from the private placement of unsecured debt,\9\
(iv) amounts deposited with NSCC by its participants to meet Rule 15c3-
3, promulgated under the Act as part of its fully-paid-for service,\10\
(v) corporate action payments or principal and interest payments on
Securities credited to the Accounts of DTC Participants that are
received by DTC too late in the day or missing information needed for
same-day allocation,\11\ (vi) funds collected from DTC Participants
through net funds settlement and held by DTC to cover 130% of the
market value of ``short positions,'' \12\ and (vii) cash debited from
Netting Members of FICC's Government Securities Division to satisfy
such Members' mark-to-market deficits on forward settling
transactions.\13\
---------------------------------------------------------------------------

    \9\ See Securities Exchange Act Release No. 75730 (August 19,
2015), 80 FR 51638 (August 25, 2015) (File No. SR-NSCC-2015-802).
    \10\ 17 CFR 240.15c3-3; see supra, note 3.
    \11\ See supra, note 3.
    \12\ In this context, ``short positions'' refer to Securities
that have been deposited by, and credited to the Account of, a DTC
Participant, pending re-registration into the name of Cede & Co.,
the DTC nominee, which are nevertheless permitted to be delivered to
another DTC Participant; this 130% charge is held by DTC until the
Securities are re-registered. See supra, note 3.
    \13\ See supra, note 3.
---------------------------------------------------------------------------

    Investments in collateralized reverse repurchase agreements would
be secured by debt obligations of the U.S. Government or Agencies
guaranteed by the U.S. Government, or by mortgage pass-through
obligations issued by the Government National Mortgage Association, the
Federal Home Loan Mortgage Corporation and the Federal National
Mortgage Association. Collateral posted by a counterparty to a reverse
repurchase agreement (whether securities or a combination of securities
and cash) would be required to have a market value equal to 102% or
greater of the cash invested. Investments would also be permitted in
money market mutual funds that have a credit rating from one or more
recognized rating agencies. All permitted investments would be short
term and readily accessible for liquidity, should the need arise,
minimizing market risk.
    Finally, the Clearing Agency Investment Policy would identify those
individuals who may authorize certain investments, the establishment of
investment relationships with approved counterparties, the execution of
investment transactions with certain maturities, and requests to exceed
investment limits for any counterparty or any investment type. Requests
to exceed counterparty limits would be capped at a certain percent of
the

respective limits, as set forth in the Clearing Agency Investment
Policy.
2. Statutory Basis
    Section 17A(b)(3)(F) of the Act requires, among other things, that
the Clearing Agencies' respective rules be designed to promote the
prompt and accurate clearance and settlement of securities
transactions, to assure the safeguarding of securities and funds which
are in the custody or control of the Clearing Agency or for which it is
responsible, and, in general, to protect investors and the public
interest.\14\
---------------------------------------------------------------------------

    \14\ 15 U.S.C. 78q-1(b)(3)(F).
---------------------------------------------------------------------------

    The investment guidelines and governance procedures set forth in
the Clearing Agency Investment Policy are designed to safeguard assets
and to facilitate access to these assets, as needed, without delay,
because certain assets that would be invested pursuant to the Clearing
Agency Investment Policy constitute key liquidity resources of the
Clearing Agencies. As such, these assets should be readily available to
facilitate end-of-day settlement, including in the event of a member
default, and to cover potential losses due to such an event. Therefore,
the protections that would be afforded these assets under the Clearing
Agency Investment Policy, which include, for example, following a
prudent and conservative investment philosophy that places highest
priority on maximizing liquidity and risk avoidance, promote the prompt
and accurate clearance and settlement of securities transactions and
assure the safeguarding of securities and funds related thereto, all in
furtherance of protecting investors and the public interest, in
compliance with Section 17A(b)(3)(F) of the Act.\15\
---------------------------------------------------------------------------

    \15\ Id.
---------------------------------------------------------------------------

    Rule 17Ad-22(d)(3), promulgated under the Act, requires the
Clearing Agencies to establish, implement, maintain and enforce written
policies and procedures reasonably designed to hold assets in a manner
that minimizes risk of loss or of delay in its access to them and to
invest assets in instruments with minimal credit, market and liquidity
risks.\16\ As stated above, the Clearing Agency Investment Policy
follows a prudent and conservative investment philosophy, placing the
highest priority on maximizing liquidity and avoiding risk of loss, by
requiring the segregation of funds of each Clearing Agency and of types
of funds of each Clearing Agency, using external credit ratings in the
evaluation of counterparties, and establishing counterparty investment
limits by counterparty as well as investment type. Further, by
requiring that each Clearing Agency invest its assets in instruments
with minimal credit, market and liquidity risks, the Clearing Agency
Investment Policy complies with the requirements of Rule 17Ad-22(d)(3),
promulgated under the Act.\17\
---------------------------------------------------------------------------

    \16\ 17 CFR 240.17Ad-22(d)(3).
    \17\ Id.
---------------------------------------------------------------------------

(B) Clearing Agency's Statement on Burden on Competition

    Each of the Clearing Agency [sic] believes that the Clearing Agency
Investment Policy would not have any impact, or impose any burden, on
competition because the proposed rule change would (1) apply equally to
the Clearing Fund or Participants Fund deposits, as applicable, of each
member of the respective Clearing Agencies and (2) establish a uniform
policy at the Clearing Agencies.

(C) Clearing Agency's Statement on Comments on the Proposed Rule Change
Received From Members, Participants, or Others

    The Clearing Agencies have not solicited or received any written
comments relating to this proposal. The Clearing Agencies will notify
the Commission of any written comments received by the Clearing
Agencies.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or within such longer period up to 90 days (i) as the
Commission may designate if it finds such longer period to be
appropriate and publishes its reasons for so finding or (ii) as to
which the self-regulatory organization consents, the Commission will:
    (A) By order approve or disapprove 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 email to<EMAIL_ADDRESS>Please include
File Number SR-DTC-2016-007, SR-FICC-2016-005, or SR-NSCC-2016-003 on
the subject line.

Paper Comments

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

All submissions should refer to File Number SR-DTC-2016-007, SR-FICC-
2016-005, or SR-NSCC-2016-003. One of these file numbers 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 each of the Clearing Agencies
and on DTCC's Web site (http://dtcc.com/legal/sec-rule-filings.aspx).
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-DTC-2016-007,
SR-FICC-2016-005, or SR-NSCC-2016-003 and should be submitted on or
before October 4, 2016.

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\18\
---------------------------------------------------------------------------

    \18\ 17 CFR 200.30-3(a)(12).
---------------------------------------------------------------------------

Brent J. Fields,
Secretary.
[FR Doc. 2016-21910 Filed 9-12-16; 8:45 am]
 BILLING CODE 8011-01-P