[Federal Register Volume 82, Number 54 (Wednesday, March 22, 2017)]
[Proposed Rules]
[Pages 14648-14654]
[FR Doc No: 2017-05467]

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ENVIRONMENTAL PROTECTION AGENCY

40 CFR Part 52

[EPA-R10-OAR-2016-0785: FRL-9959-02-Region 10]

Air Plan Approval; Washington: General Regulations for Air
Pollution Sources, Energy Facility Site Evaluation Council

AGENCY: Environmental Protection Agency (EPA).

ACTION: Proposed rule.

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SUMMARY: The Environmental Protection Agency (EPA) is proposing to
revise the Washington State Implementation Plan (SIP) to approve
updates to the Energy Facility Site Evaluation Council (EFSEC) air
quality regulations. The EFSEC regulations primarily adopt by reference
the Washington Department of Ecology (Ecology) general air quality
regulations, which the EPA approved in the fall of 2014 and spring of
2015. Consistent with our approval of the Ecology general air quality
regulations, we are also proposing to approve revisions to implement
the preconstruction permitting regulations for large industrial (major
source) facilities in attainment and unclassifiable areas, called the
Prevention of Significant Deterioration (PSD) program. The PSD program
for major energy facilities under EFSEC's jurisdiction has historically
been operated under a Federal Implementation Plan (FIP), in cooperation
with the EPA and Ecology. If finalized, the EPA's proposed approval of
the EFSEC PSD program would narrow the FIP to include only those few
potential facilities, emission sources, geographic areas, and permits
for which EFSEC does not have jurisdiction or authority. The EPA is
also proposing to approve EFSEC's visibility protection permitting
program which overlaps significantly with the PSD program in most
cases.

DATES: Written comments must be received on or before April 21, 2017.

ADDRESSES: Submit your comments, identified by Docket ID No. EPA-R10-
OAR-2016-0785 at http://www.regulations.gov. Follow the online
instructions for submitting comments. Once submitted, comments cannot
be edited or removed from Regulations.gov. The EPA may publish any
comment received to its public docket. Do not submit electronically any
information you consider to be Confidential Business Information (CBI)
or other information whose disclosure is restricted by statute.
Multimedia submissions (audio, video, etc.) must be accompanied by a
written comment. The written comment is considered the official comment
and should include discussion of all points you wish to make. The EPA
will generally not consider comments or comment contents located
outside of the primary submission (i.e. on the web, cloud, or other
file sharing system). For additional submission methods, the full EPA
public comment policy, information about CBI or multimedia submissions,
and general guidance on making effective comments, please visit http://www2.epa.gov/dockets/commenting-epa-dockets.

FOR FURTHER INFORMATION CONTACT: Jeff Hunt, Air Planning Unit, Office
of Air and Waste (AWT-150), Environmental Protection Agency, Region 10,
1200 Sixth Ave, Suite 900, Seattle, WA 98101; telephone number: (206)
553-0256; email address<EMAIL_ADDRESS>
SUPPLEMENTARY INFORMATION:

Table of Contents

I. Background for Proposed Action
II. Washington SIP Revisions
    A. Revised EFSEC Regulations
    B. Personnel, Funding, and Authority
III. Effect of Recent Court Decisions Vacating and Remanding Certain
Federal Rules
    A. Sierra Club v. EPA
    B. Utility Air Regulatory Group v. EPA
IV. The EPA's Proposed Action
    A. Regulations to Approve and Incorporate by Reference into the
SIP
    B. Regulations to Approve but Not Incorporate by Reference
    C. Regulations to Remove from the SIP
    D. Proposed Transfer of Existing EPA-issued PSD Permits
    E. Scope of Proposed Action
    F. The EPA's Oversight Role
V. Incorporation by Reference
VI. Statutory and Executive Order Reviews

I. Background for Proposed Action

    By statute, EFSEC has jurisdiction for managing the air program
with respect to major energy facilities in the State of Washington. See
Chapter 80.50 of the Revised Code of Washington (RCW). The EFSEC air
quality regulations are contained in Chapter 463-78 Washington
Administrative Code (WAC) General and Operating Permit Regulations for
Air Pollution Sources. These EFSEC regulations rely primarily on the
incorporation by reference of the corresponding Ecology general air
quality regulations contained in Chapter 173-400 WAC General
Regulations for Air Pollution Sources. On July 27, 2015, effective
August 27, 2015, EFSEC updated its regulations to generally adopt by
reference the version of Chapter 173-400 WAC approved into the SIP at
that time.\1\ On December 20, 2016, EFSEC, in cooperation with Ecology,
requested that the EPA approve the updated EFSEC regulations consistent
with our phased approval of Chapter 173-400 WAC. See 79 FR 59653
(October 3, 2014, approval of general provisions), 79 FR 66291
(November 7, 2014, approval of major source nonattainment new source
review), and 80 FR 23721 (April 29, 2015, approval of PSD and
visibility protection permitting programs).
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    \1\ On October 6, 2016, the EPA approved minor revisions to
Chapter 173-400 WAC, primarily updating the adoption by reference
date of cited Federal regulations (81 FR 69385). Because EFSEC
already modified its regulations to include an updated adoption by
reference date for cited Federal regulations, this minor change to
Chapter 173-400 WAC does not substantively affect EFSEC's
submission.
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II. Washington SIP Revisions

A. Revised EFSEC Regulations

    The EPA last approved EFSEC's air quality regulations on May 23,
1996 (61 FR 25791). Aside from recodification from 463-39 to 463-78
WAC, grammatical changes, and minor clarifications, the EFSEC air
quality regulations remain substantially unchanged since the EPA's last
approval. The more substantive changes include EFSEC's modification of
WAC 463-78-095 Permit Issuance to clarify that new permits, and
modifications to existing permits, shall be conditioned upon compliance
with all provisions of the federally-approved SIP. Other changes
include updating citations in Chapter 463-78 WAC to better align with
the associated provisions in Chapter 173-400 WAC. A full redline/
strikeout comparison of the 1996 SIP-approved version of the EFSEC
regulations to the submitted 2015 version is included in the docket for
this action. We reviewed the revisions to the regulations and are
proposing to determine that they meet the requirements of section 110
of the Clean Air Act (CAA).
    The most substantive component of EFSEC's regulations is WAC 463-
78-005 Adoption by Reference, which generally adopts by reference
Chapter 173-400 WAC to match the EPA's October 3, 2014, November 7,
2014, and April 29, 2015 phased approval of Ecology's general air
quality rules. We note that EFSEC's adoption by reference of Chapter
173-400 WAC is modified in three ways. First, references in Chapter
173-400 WAC regarding appeals are modified to reflect EFSEC's
independent appeals process in WAC 463-78-140. Second, the cross
references to fees under Chapter 173-455 WAC are modified to reflect
EFSEC's independent fee structure set out in Chapter 80.50 RCW. Lastly,
WAC 173-400-720 contains Ecology's adoption by reference of the federal
PSD program regulations contained in 40 CFR 52.21, with some
exceptions. EFSEC modified the adoption by reference of WAC 173-400-720
to reflect the most recent version of 40 CFR 52.21 available at that
time (May 1, 2015).
    We note two additional factors regarding EFSEC's incorporation by
reference of Chapter 173-400 WAC. First, while EFSEC generally adopts
most of the provisions of Chapter 173-400 WAC by reference, not all
provisions are included. For example, consistent with the EPA's prior
approval of the EFSEC regulations, EFSEC did not adopt by reference the
enforcement and authority provisions contained in WAC 173-400-220
through 260. For these provisions, EFSEC relies on its own independent
authorities, which are currently part of Washington's federally-
approved SIP under WAC 463-39-135 through 230. In other cases, such as
WAC 173-400-118 Designation of Class I, II, and III Areas, WAC 173-400-
151 Retrofit Requirements for Visibility Protection, and parts of WAC
173-400-070 Emission Standards for Certain Source Categories, EFSEC did
not adopt these Chapter 173-400 WAC provisions by reference because
they pertain to source categories or authorities outside the scope of
EFSEC's jurisdiction. The second factor is that many parts of Chapter
173-400 WAC contain provisions that are not related to the criteria
pollutants regulated under title I of the CAA, not related to the
requirements for SIPs under section 110 of the CAA, or have not been
revised since last approved by the EPA. For this reason, EFSEC only
submitted for SIP approval those parts of the incorporation by
reference of Chapter 173-400 WAC consistent with the EPA's October 3,
2014, November 7, 2014, and April 29, 2015 phased approval. A full
listing of the Chapter 173-400 WAC provisions submitted for approval is
included in Section IV.

B. Personnel, Funding, and Authority

    Section 110(a)(2)(E)(i) of the CAA requires that agencies have
adequate personnel, funding, and authority under state law to carry out
the SIP. EFSEC's authority under state law to carry out the air program
for major energy facilities, including the PSD and visibility
protection permitting programs, is derived from Chapter 80.50 RCW. With
respect to personnel and funding, EFSEC has issued CAA PSD permits, in
coordination with Ecology, under a partial delegation agreement with
the EPA since 1993. These PSD permits include the visibility protection
requirements of WAC 173-400-117 Special Protection Requirements for
Federal Class I Areas, adopted by reference in EFSEC's regulations. As
described in our April 29, 2015 final approval of WAC 173-400-117,
these visibility protection requirements would also apply to
visibility-related elements associated with permits issued under the
major nonattainment new source review program under WAC 173-400-800
through 860, also adopted by reference in the EFSEC regulations (see 80
FR 23721, at page 23726). The staff

of engineers and air quality modelers at both EFSEC and Ecology, who
supported issuance of permits under the delegation agreement with the
EPA, will continue to support EFSEC's issuance of permits under a SIP-
approved PSD and visibility protection program. Chapter 80.50 RCW also
provides EFSEC the authority to charge fees for the coordinated EFSEC
and Ecology review of any new or modified permits. The EPA therefore
proposes to find that EFSEC has adequate personnel, funding, and
authority to implement the PSD and visibility protection programs for
facilities in its jurisdiction.

III. Effect of Court Decisions Vacating and Remanding Certain Federal
Rules

A. Sierra Club v. EPA

    The EPA's January 7, 2015 proposed approval of Ecology's PSD
program included a discussion of the Sierra Club v. EPA, 703 F.3d 458
(D.C. Cir. 2013) decision which vacated certain provisions of the
Federal PSD regulations related to fine particulate matter
(PM2.5). See 80 FR 838, at page 842. As discussed in the
proposed approval, Ecology's regulations at that time in WAC 173-400-
720(4)(a)(vi) generally incorporated by reference the Federal PSD
permitting provisions in effect as of August 13, 2012, including the
vacated provisions of 40 CFR 52.21(i) (relating to the significant
monitoring concentration) and 40 CFR 52.21(k) (relating to the
significant impact level). The EPA subsequently removed the vacated
PM2.5 SIL and SMC provisions from the Federal PSD
regulations effective December 9, 2013 (78 FR 73698). Ecology resolved
this issue by revising WAC 173-400-720(4)(a)(vi) to an updated version
of 40 CFR 52.21 that did not contain the vacated provisions (81 FR
69385, October 6, 2016). Similarly, we are proposing to determine that
EFSEC has resolved this issue by modifying its incorporation by
reference of WAC 173-400-720(4)(a)(vi) to reflect the May 1, 2015
version of 40 CFR 52.21 that does not contain the vacated
PM2.5 SIL and SMC provisions.

B. Utility Air Regulatory Group v. EPA

    On June 23, 2014, the U.S. Supreme Court issued a decision in
Utility Air Regulatory Group (UARG) v. EPA, 134 S. Ct. 2427, addressing
the application of stationary source permitting requirements to
greenhouse gases (GHGs). The U.S. Supreme Court held that the EPA may
not treat GHGs as an air pollutant for the specific purpose of
determining whether a source is a major source (or a modification
thereof) and thus required to obtain a PSD or title V permit. In
response to the Supreme Court's decision, and the subsequent vacatur of
40 CFR 51.166(b)(48)(v) and 40 CFR 52.21(b)(49)(v) by the Court of
Appeals for the District of Columbia Circuit, the EPA removed these
requirements from the federal PSD regulations (80 FR 50199, August 19,
2015). Because the EPA's removal of the vacated provisions occurred
after EFSEC's May 1, 2015 citation date incorporating 40 CFR 52.21, the
EFSEC regulations adopted by reference in WAC 463-78-005 have not yet
captured the EPA's update. In order to align with the Supreme Court
decision and to prevent delay in the EPA's consideration of the EFSEC
regulations, EFSEC clarified in the December 20, 2016 SIP submittal
that it is not submitting the incorporation by reference of 40 CFR
52.21(b)(49)(v) for approval. EFSEC intends to incorporate by reference
a more recent version of 40 CFR 52.21 that does not contain the vacated
provisions, as soon as practicable.
    EFSEC's SIP submittal does not discuss the fact that, because it
adopted the EPA's PSD regulations as of May 1, 2015, its rules include
the elements of the EPA's 2012 rule implementing Step 3 of the phase-in
of PSD permitting requirements for GHGs described in the Tailoring
Rule, which became effective on August 13, 2012 (77 FR 41051, July 12,
2012). The incorporation of the Step 3 rule provisions allows GHG-
emitting sources to obtain plantwide applicability limits (PALs) for
their GHG emissions on a carbon dioxide equivalent (CO2e)
basis. The Federal GHG PAL provisions, as currently written, include
some provisions that may no longer be appropriate in light of the
Supreme Court decision. Because the Supreme Court has determined that
sources and modifications may not be defined as ``major'' solely on the
basis of the level of greenhouse gases emitted or increased, PALs for
greenhouse gases may no longer have value in some situations where a
source might have triggered PSD based on GHG emissions alone. However,
PALs for GHGs may still have a role in determining whether a
modification that triggers PSD for a pollutant other than GHGs should
also be subject to Best Available Control Technology (BACT) for GHGs.
These provisions will likely be revised pending further legal action.
However, these provisions do not add new requirements for sources or
modifications that only emit or increase GHGs above the major source
threshold or the 75,000 tons per year (tpy) GHG threshold in 40 CFR
52.21(b)(49)(iv). Rather, the PALs provisions provide increased
flexibility to sources that choose to address their GHG emissions in a
PAL. Because this flexibility may still be valuable to sources in at
least one context described above, we believe that it is appropriate to
approve these provisions into the Washington SIP at this point in time.
The EPA is therefore proposing to determine that EFSEC's SIP revision
meets the necessary PSD requirements at this time, consistent with the
Supreme Court's decision.

IV. The EPA's Proposed Action

A. Regulations To Approve and Incorporate by Reference Into the SIP

    The EPA proposes to approve and incorporate by reference into the
Washington SIP at 40 CFR 52.2470(c)--Table 3--Additional Regulations
Approved for the Energy Facilities Site Evaluation Council (EFSEC)
Jurisdiction, the revised EFSEC regulations listed in Table 1 below.

 Table 1--Energy Facilities Site Evaluation Council (EFSEC) Regulations for Proposed Approval and Incorporation
                                                  by Reference
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                                                                      State/local
        State/local  citation                 Title/subject         effective date           Explanation
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             Chapter 463-78 WAC, General and Operating Permit Regulations for Air Pollution Sources.
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78-005..............................  Adoption by Reference.......         8/27/15  Except: (2), (3), (4), and
                                                                                (5). See table below for
                                                                                revised Chapter 173-400 WAC
                                                                                provisions incorporated by
                                                                                reference.
78-010..............................  Purpose.....................         8/27/15  ............................
78-020..............................  Applicability...............        11/11/04  ............................

78-030..............................  Additional Definitions......         8/27/15  Except references to 173-401-
                                                                                200 and 173-406-101.
78-095..............................  Permit Issuance.............         8/27/15  ............................
78-120..............................  Monitoring and Special              11/11/04  ............................
                                       Report.
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        Table 2--Revised Chapter 173-400 WAC Regulations Incorporated by Reference in WAC 463-78-005 \2\
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                                                                         State
           State citation                     Title/subject         effective date          Explanations
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         Washington Administrative Code, Chapter 173-400--General Regulations for Air Pollution Sources.
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173-400-030.........................  Definitions.................        12/29/12  Except: 173-400-030(91).
173-400-036.........................  Relocation of Portable              12/29/12  ............................
                                       Sources.
173-400-040.........................  General Standards for                 4/1/11  Except: 173-400-040(2)(c);
                                       Maximum Emissions.                            173-400-040(2)(d); 173-400-
                                                                                040(3); 173-400-040(5); 173-
                                                                                400-040(7), second
                                                                                paragraph.
173-400-050.........................  Emission Standards for              12/29/12  Except: 173-400-050(2); 173-
                                       Combustion and Incineration                   400-050(4); 173-400-050(5).
                                       Units.
173-400-060.........................  Emission Standards for               2/10/05  ............................
                                       General Process Units.
173-400-070.........................  Emission Standards for              12/29/12  Except: 173-400-070(1); 173-
                                       Certain Source Categories.                    400-070(2); 173-400-070(3);
                                                                                173-400-070(4); 173-400-
                                                                                070(6); 173-400-070(7); 173-
                                                                                400-070(8).
173-400-081.........................  Startup and Shutdown........          4/1/11  ............................
173-400-091.........................  Voluntary Limits on                   4/1/11  ............................
                                       Emissions.
173-400-105.........................  Records, Monitoring, and            12/29/12  ............................
                                       Reporting.
173-400-110.........................  New Source Review (NSR) for         12/29/12  Except: 173-400-
                                       Sources and Portable                          110(1)(c)(ii)(C); 173-400-
                                       Sources.                                      110(1)(e); 173-400-
                                                                                110(2)(d); The part of WAC
                                                                                173-400-110(4)(b)(vi) that
                                                                                says,
                                                                                ``not for use with
                                                                                materials containing toxic
                                                                                air pollutants, as listed
                                                                                in chapter 173-460 WAC,'';
                                                                                The part of 400-110
                                                                                (4)(e)(iii) that says,
                                                                                ``where toxic air
                                                                                pollutants as defined in
                                                                                chapter 173-460 WAC are not
                                                                                emitted'';
                                                                                The part of 400-110(4)(f)(i)
                                                                                that says,
                                                                                ``that are not
                                                                                toxic air pollutants listed
                                                                                in chapter 173-460 WAC'';
                                                                                The part of 400-110
                                                                                (4)(h)(xviii) that says,
                                                                                ``, to the extent
                                                                                that toxic air pollutant
                                                                                gases as defined in chapter
                                                                                173-460 WAC are not
                                                                                emitted'';
                                                                                The part of 400-110
                                                                                (4)(h)(xxxiii) that says,
                                                                                ``where no toxic
                                                                                air pollutants as listed
                                                                                under chapter 173-460 WAC
                                                                                are emitted'';
                                                                                The part of 400-
                                                                                110(4)(h)(xxxiv) that says,
                                                                                ``, or <= 1% (by
                                                                                weight) toxic air
                                                                                pollutants as listed in
                                                                                chapter 173-460 WAC'';
                                                                                The part of 400-
                                                                                110(4)(h)(xxxv) that says,
                                                                                ``or <= 1% (by
                                                                                weight) toxic air
                                                                                pollutants'';
                                                                                The part of 400-
                                                                                110(4)(h)(xxxvi) that says,
                                                                                ``or <= 1% (by
                                                                                weight) toxic air
                                                                                pollutants as listed in
                                                                                chapter 173-460 WAC''; 400-
                                                                                110(4)(h)(xl), second
                                                                                sentence; The last row of
                                                                                the table in 173-400-
                                                                                110(5)(b) regarding
                                                                                exemption levels for Toxic
                                                                                Air Pollutants.
173-400-111.........................  Processing Notice of                12/29/12  Except: 173-400-111(3)(h);
                                       Construction Applications                     173-400-111 (5)(a) (last
                                       for Sources, Stationary                       six words); 173-400-111
                                       Sources and Portable                          (6);
                                       Sources.
                                                                                The part of 173-400-
                                                                                111(8)(a)(v) that says,
                                                                                ``and 173-460-
                                                                                040,''; 173-400-111(9).
173-400-112.........................  Requirements for New Sources        12/29/12  ............................
                                       in Nonattainment Areas--
                                       Review for Compliance with
                                       Regulations.
173-400-113.........................  New Sources in Attainment or        12/29/12  Except: 173-400-113(3),
                                       Unclassifiable Areas--                        second sentence.
                                       Review for Compliance with
                                       Regulations.
173-400-116.........................  Increment Protection........         9/10/11  ............................

173-400-117.........................  Special Protection                  12/29/12  ............................
                                       Requirements for.
                                      Federal Class I Areas.......
173-400-131.........................  Issuance of Emission                  4/1/11  ............................
                                       Reduction Credits.
173-400-136.........................  Use of Emission Reduction             4/1/11  ............................
                                       Credits (ERC).
173-400-171.........................  Public Notice and                   12/29/12  Except:
                                       Opportunity for Public                       The part of 173-400-
                                       Comment.                                      171(3)(b) that says,
                                                                                ``or any increase
                                                                                in emissions of a toxic air
                                                                                pollutant above the
                                                                                acceptable source impact
                                                                                level for that toxic air
                                                                                pollutant as regulated
                                                                                under chapter 173-460
                                                                                WAC'';173-400-171(12).
173-400-175.........................  Public Information..........         2/10/05  ............................
173-400-200.........................  Creditable Stack Height and          2/10/05  ............................
                                       Dispersion Techniques.
173-400-700.........................  Review of Major Stationary            4/1/11  ............................
                                       Sources of Air Pollution.
173-400-710.........................  Definitions.................        12/29/12  ............................
173-400-720.........................  Prevention of Significant           12/29/12  Except: 173-400-720(4)(a)(i
                                       Deterioration (PSD).                          through iv); 173-400-
                                                                                720(4)(b)(iii)(C); and 173-
                                                                                400-720(4)(a)(vi) with
                                                                                respect to the
                                                                                incorporation by reference
                                                                                of the text in 40 CFR
                                                                                52.21(b)(49)(v).
                                                                                * For the purpose of EFSEC's
                                                                                incorporation by reference
                                                                                of 40 CFR 52.21, the date
                                                                                in WAC 173-400-720
                                                                                (4)(a)(vi) is May 1, 2015.
173-400-730.........................  Prevention of Significant           12/29/12  Except 173-400-730(4)
                                       Deterioration Application
                                       Processing Procedures.
173-400-740.........................  PSD Permitting Public               12/29/12  ............................
                                       Involvement.
                                      Requirements................
173-400-750.........................  Revisions to PSD Permits....        12/29/12  Except: 173-400-750(2)
                                                                                second sentence.
173-400-800.........................  Major Stationary Source and           4/1/11  ............................
                                       Major.
                                      Modification in a
                                       Nonattainment Area.
173-400-810.........................  Major Stationary Source and         12/29/12  ............................
                                       Major Modification
                                       Definitions.
173-400-820.........................  Determining if a New                12/29/12  ............................
                                       Stationary Source or
                                       Modification to a
                                       Stationary Source is
                                       Subject to these
                                       Requirements.
173-400-830.........................  Permitting Requirements.....        12/29/12  ............................
173-400-840.........................  Emission Offset Requirements        12/29/12  ............................
173-400-850.........................  Actual Emissions Plantwide          12/29/12  ............................
                                       Applicability Limitation
                                       (PAL).
173-400-860.........................  Public Involvement                    4/1/11  ............................
                                       Procedures.
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B. Regulations To Approve but Not Incorporate by Reference
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    \2\ Several of the provision of Chapter 173-400 WAC incorporated
by reference remain unchanged since the EPA's last approval of
EFSEC's regulations and were not resubmitted as part of the December
20, 2016 SIP revision.
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    In addition to the regulations proposed for approval and
incorporation by reference above, the EPA reviews and approves state
submissions to ensure they provide adequate enforcement authority and
other general authority to implement and enforce the SIP. However,
regulations describing state enforcement and other general authorities
are generally not incorporated by reference, so as to avoid potential
conflict with the EPA's independent authorities. The EPA has reviewed
and is proposing to approve WAC 463-78-135 Criminal Penalties, WAC 463-
78-140 Appeals Procedure (except subsections 3 and 4 which deal with
permits outside the scope of CAA section 110), WAC 463-78-170 Conflict
of Interest, and WAC 463-78-230 Regulatory Actions, as providing EFSEC
with adequate enforcement and other general authority for purposes of
implementing and enforcing its SIP, but is not incorporating these
sections by reference into the SIP codified in 40 CFR 52.2470(c).
Instead, the EPA is proposing to include these sections in 40 CFR
52.2470(e), EPA Approved Nonregulatory Provisions and Quasi-Regulatory
Measures, as approved but not incorporated by reference regulatory
provisions.

C. Regulations To Remove From the SIP

    As discussed in our July 10, 2014 proposed approval of revisions to
Chapter 173-400 WAC, Ecology formerly relied on the registration
program under WAC 173-400-100 for determining the applicability of the
new source review (NSR) permitting program (see 79 FR 39351 at page
39354). By statutory directive, this means of determining NSR
applicability was replaced by revisions to WAC 173-400-110 which set de
minimis emission unit, activity, and annual emission thresholds. In our
October 3, 2014 final action, we approved WAC 173-400-110 as the means
of determining NSR applicability, and at Ecology's request, removed WAC
173-400-100 from the SIP (79 FR 59653). Consistent with our proposed
and final approval of revisions to Chapter 173-400 WAC, we are now

proposing to remove, at EFSEC's request, WAC 463-39-100 Registration
(recodified to WAC 463-78-100) from the SIP because it is no longer
used as the means of determining NSR applicability.
    As previously discussed, EFSEC adopted by reference most of the
provisions in Chapter 173-400 WAC, but excluded certain provisions
pertaining to authorities or source categories outside EFSEC's
jurisdiction. WAC 173-400-151 Retrofit Requirements for Visibility
Protection is one such provision. The EPA's May 23, 1996 approval of
EFSEC's regulations included the incorporation by reference of WAC 173-
400-151 (61 FR 25791). These regulations establish Best Available
Retrofit Technology (BART) as part of the visibility protection program
for an ``existing stationary facility.'' Under WAC 173-400-151 an
``existing stationary facility'' is defined, among other factors, as a
facility not in operation prior to August 7, 1962, and also in
existence on August 7, 1977. EFSEC has advised the EPA that there are
no sources under EFSEC's jurisdiction that meet the definition of BART-
eligible sources. The EPA is therefore proposing to grant EFSEC's
request to remove the incorporation by reference of WAC 173-400-151
from the SIP.

D. Proposed Transfer of Existing EPA-Issued PSD Permits

    As part of the SIP submittal, EFSEC requested approval to exercise
its authority to fully administer the PSD program with respect to those
sources under EFSEC's permitting jurisdiction that have existing PSD
permits issued by the EPA. This includes authority to conduct general
administration of these existing permits, authority to process and
issue any and all subsequent PSD permit actions relating to such
permits (e.g., modifications, amendments, or revisions of any nature),
and authority to enforce such permits. Since 1993, EFSEC has had
partial delegation of the PSD permitting program under the FIP.
Therefore, many of the EPA permits subject to proposed transfer were
also issued under state authority. For those permits issued solely by
the EPA prior to delegation, EFSEC, in coordination with Ecology, has
demonstrated adequate authority to enforce and modify these permits.
Concurrent with our approval of EFSEC's PSD program into the Washington
SIP, we are proposing to transfer the EPA-issued permits to EFSEC for
the Chehalis Generation Facility and Grays Harbor Energy Center
facilities.

E. Scope of Proposed Action

    The EPA is excluding from the scope of this proposed approval
certain limitations as they relate to PSD requirements for carbon
dioxide emissions from industrial combustion of biomass. As discussed
in our April 29, 2015 approval of Ecology's PSD program, a Washington
State statutory provision contained in RCW 70.235.020 Greenhouse Gas
Emissions Reductions--Reporting Requirements states, ``Except for
purposes of reporting, emissions of carbon dioxide from industrial
combustion of biomass in the form of fuel wood, wood waste, wood by-
products, and wood residuals shall not be considered a greenhouse gas
as long as the region's silvicultural sequestration capacity is
maintained or increased.'' See 80 FR 23721, at page 23722. As a result,
consistent with our prior approval, the EPA is proposing to retain a
FIP to issue partial PSD permits to ensure that major sources in
Washington have a means to satisfy the CAA construction permit
requirements for GHGs when CO2 emissions from the industrial
combustion of biomass in Washington are not being considered or
regulated by EFSEC under its PSD rules.
    If finalized, the EPA is proposing to revise the PSD FIP at 40 CFR
52.2497 and the visibility protection FIP at 40 CFR 52.2498 to reflect
the approval of EFSEC's PSD and visibility permitting programs.
Specifically, the EPA is proposing to delete paragraph (a)(1) of 40 CFR
52.2497 and paragraph (a)(1) of 40 CFR 52.2498, both of which address
facilities subject to the jurisdiction of EFSEC in these FIPs.

F. The EPA's Oversight Role

    In approving state NSR rules into SIPs, the EPA has a
responsibility to ensure that all states properly implement their SIP-
approved preconstruction permitting programs. The EPA's proposed
approval of EFSEC's PSD rules does not divest the EPA of the
responsibility to continue appropriate oversight to ensure that permits
issued by EFSEC are consistent with the requirements of the CAA,
Federal regulations, and the SIP. The EPA's authority to oversee permit
program implementation is set forth in sections 113, 167, and 505(b) of
the CAA. For example, section 167 provides that the EPA shall issue
administrative orders, initiate civil actions, or take whatever other
action may be necessary to prevent the construction or modification of
a major stationary source that does not ``conform to the requirements
of'' the PSD program. Similarly, section 113(a)(5) of the CAA provides
for administrative orders and civil actions whenever the EPA finds that
a state ``is not acting in compliance with'' any requirement or
prohibition of the CAA regarding the construction of new sources or
modification of existing sources. Likewise, section 113(a)(1) provides
for a range of enforcement remedies whenever the EPA finds that a
person is in violation of an applicable implementation plan.
    In making judgments as to what constitutes compliance with the CAA
and regulations issued thereunder, the EPA looks to (among other
sources) its prior interpretations regarding those statutory and
regulatory requirements and policies for implementing them. It follows
that state actions implementing the Federal CAA that do not conform to
the CAA may lead to potential oversight action by the EPA.

V. Incorporation by Reference

    In this rule, the EPA is proposing to include in a final EPA rule
regulatory text that includes incorporation by reference. In accordance
with requirements of 1 CFR 51.5, the EPA is proposing to revise our
incorporation by reference of 40 CFR 52.2470(c)--Table 3--Additional
Regulations Approved for the Energy Facilities Site Evaluation Council
(EFSEC) Jurisdiction to reflect the regulations shown in the tables in
section IV.A. Regulations to Approve and Incorporate by Reference into
the SIP and the rules proposed for removal from the SIP in section
IV.C. Regulations to Remove from the SIP. The EPA has made, and will
continue to make, these materials generally available through
www.regulations.gov and/or at the EPA Region 10 Office (please contact
the person identified in the For Further Information Contact section of
this preamble for more information).

VI. Statutory and Executive Order Reviews

    Under the CAA, the Administrator is required to approve a SIP
submission that complies with the provisions of the CAA and applicable
Federal regulations. 42 U.S.C. 7410(k); 40 CFR 52.02(a). Thus, in
reviewing SIP submissions, the EPA's role is to approve state choices,
provided that they meet the criteria of the CAA. Accordingly, this
proposed action merely approves state law as meeting Federal
requirements and does not impose additional requirements beyond those
imposed by state law. For that reason, this proposed action:
     Is not a ``significant regulatory action'' subject to
review by the Office of Management and Budget under Executive Order
12866 (58 FR 51735,

October 4, 1993) and 13563 (76 FR 3821, January 21, 2011);
     does not impose an information collection burden under the
provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq.);
     is certified as not having a significant economic impact
on a substantial number of small entities under the Regulatory
Flexibility Act (5 U.S.C. 601 et seq.);
     does not contain any unfunded mandate or significantly or
uniquely affect small governments, as described in the Unfunded
Mandates Reform Act of 1995 (Pub. L. 104-4);
     does not have Federalism implications as specified in
Executive Order 13132 (64 FR 43255, August 10, 1999);
     is not an economically significant regulatory action based
on health or safety risks subject to Executive Order 13045 (62 FR
19885, April 23, 1997);
     is not a significant regulatory action subject to
Executive Order 13211 (66 FR 28355, May 22, 2001);
     is not subject to the requirements of section 12(d) of the
National Technology Transfer and Advancement Act of 1995 (15 U.S.C. 272
note) because this action does not involve technical standards; and
     does not provide the EPA with the discretionary authority
to address, as appropriate, disproportionate human health or
environmental effects, using practicable and legally permissible
methods, under Executive Order 12898 (59 FR 7629, February 16, 1994).
    In addition, this rule does not have tribal implications as
specified by Executive Order 13175 (65 FR 67249, November 9, 2000),
because it will not impose substantial direct costs on tribal
governments or preempt tribal law. As discussed above, the SIP is not
approved to apply in Indian country located in the state, except for
non-trust land within the exterior boundaries of the Puyallup Indian
Reservation (also known as the 1873 Survey Area), or any other area
where the EPA or an Indian tribe has demonstrated that a tribe has
jurisdiction. Consistent with EPA policy, the EPA provided a
consultation opportunity to the Puyallup Tribe in a letter dated July
1, 2016. The EPA did not receive a request for consultation.

List of Subjects in 40 CFR Part 52

    Environmental protection, Air pollution control, Carbon monoxide,
Incorporation by reference, Intergovernmental relations, Lead, Nitrogen
dioxide, Ozone, Particulate matter, Reporting and recordkeeping
requirements, Sulfur oxides, Volatile organic compounds.

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

    Dated: March 10, 2017.
Nancy J. Lindsay,
Acting Regional Administrator, Region 10.
[FR Doc. 2017-05467 Filed 3-21-17; 8:45 am]
 BILLING CODE 6560-50-P


[Federal Register: February 5, 2010 (Volume 75, Number 24)]
[Rules and Regulations]
[Page 5887]
[DOCID:fr05fe10-3]

=======================================================================
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DEPARTMENT OF HEALTH AND HUMAN SERVICES

Food and Drug Administration

21 CFR Part 73

[Docket No. FDA-2007-C-0456] (formerly Docket No. 2007C-0245)

Listing of Color Additives Exempt From Certification; Paracoccus
Pigment; Confirmation of Effective Date

AGENCY:  Food and Drug Administration, HHS.

ACTION:  Final rule; confirmation of effective date.

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SUMMARY:  The Food and Drug Administration (FDA) is confirming the
effective date of December 17, 2009, for the final rule that appeared
in the Federal Register of November 16, 2009. The final rule amended
the color additive regulations to provide for the safe use of
paracoccus pigment as a color additive in the feed of salmonid fish to
enhance the color of their flesh.

DATES:  The effective date for the final rule that published in the
Federal Register on November 16, 2009 (74 FR 58843) is confirmed as
December 17, 2009.

FOR FURTHER INFORMATION CONTACT: Mical E. Honigfort, Center for Food
Safety and Applied Nutrition (HFS-265), Food and Drug Administration,
5100 Paint Branch Pkwy., College Park, MD 20740-3835,<PHONE_NUMBER>.

SUPPLEMENTARY INFORMATION: In the Federal Register of November 16, 2009
(74 FR 58843), FDA amended the color additive regulations to add 21 CFR
73.352 to provide for the safe use of paracoccus pigment as a color
additive in the feed of salmonid fish to enhance the color of their
flesh.
    FDA gave interested persons until December 16, 2009, to file
objections or requests for a hearing. The agency received no objections
or requests for a hearing on the final rule. Therefore, FDA finds that
the effective date of the final rule that published in the Federal
Register of November 16, 2009, should be confirmed.

List of Subjects in 21 CFR Part 73

    Color additives, Cosmetics, Drugs, Medical devices.

0
Therefore, under the Federal Food, Drug, and Cosmetic Act (21 U.S.C.
321, 341, 342, 343, 348, 351, 352, 355, 361, 362, 371, 379e) and under
authority delegated to the Commissioner of Food and Drugs, and
redelegated to the Director, Office of Food Additive Safety, notice is
given that no objections or requests for a hearing were filed in
response to the November 16, 2009, final rule. Accordingly, the
amendments issued thereby became effective December 17, 2009.

    Dated: January 22, 2010.
Mitchell A. Cheeseman,
Acting Director, Office of Food Additive Safety, Center for Food Safety
and Applied Nutrition.
[FR Doc. 2010-2521 Filed 2-4-10; 8:45 am]
BILLING CODE 4160-01-S


[Federal Register Volume 83, Number 146 (Monday, July 30, 2018)]
[Notices]
[Pages 36646-36647]
[FR Doc No: 2018-16155]

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SECURITIES AND EXCHANGE COMMISSION

[Investment Company Act Release No. 33169; 812-14833]

Advisors Asset Management, Inc. and ETF Series Solutions; Notice
of Application

July 24, 2018.
AGENCY: Securities and Exchange Commission (``Commission'').

ACTION: Notice.

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    Notice of an application under section 6(c) of the Investment
Company Act of 1940 (``Act'') for an exemption from section 15(a) of
the Act and rule 18f-2 under the Act, as well as from certain
disclosure requirements in rule 20a-1 under the Act, Item 19(a)(3) of
Form N-1A, Items 22(c)(1)(ii), 22(c)(1)(iii), 22(c)(8) and 22(c)(9) of
Schedule 14A under the Securities Exchange Act of 1934, and Sections 6-
07(2)(a), (b), and (c) of Regulation S-X (``Disclosure Requirements'').
The requested exemption would permit an investment adviser to hire and
replace certain sub-advisers without shareholder approval and grant
relief from the Disclosure Requirements as they relate to fees paid to
the sub-advisers.

Applicants:  ETF Series Solutions (the ``Trust''), a Delaware statutory
trust registered under the Act as an open-end management investment
company with multiple series, and Advisors Asset Management, Inc. (the
``Initial Adviser''), a Delaware corporation registered as an
investment adviser under the Investment Advisers Act of 1940.

Filing Dates:  The application was filed on October 11, 2017 and
amended on May 3, 2018.

Hearing or Notification of Hearing:  An order granting the application
will be issued unless the Commission orders a hearing. Interested
persons may request a hearing by writing to the Commission's Secretary
and serving applicants with a copy of the request, personally or by
mail. Hearing requests should be received by the Commission by 5:30
p.m. on August 20, 2018, and should be accompanied by proof of service
on applicants, in the form of an affidavit or, for lawyers, a
certificate of service. Pursuant to rule 0-5 under the Act, hearing
requests should state the nature of the writer's interest, any facts
bearing upon the desirability of a hearing on the matter, the reason
for the request, and the issues contested. Persons who wish to be
notified of a hearing may request notification by writing to the
Commission's Secretary.

ADDRESSES:  Secretary, U.S. Securities and Exchange Commission, 100 F
Street NE, Washington, DC 20549-1090. Applicants: ETF Series Solutions,
615 E Michigan Street, Milwaukee, WI 53202; and Advisors Asset
Management, Inc., 18925 Base Camp Road, Suite 203, Monument, CO 80132.

FOR FURTHER INFORMATION CONTACT: Christine Y. Greenlees, Senior
Counsel, at<PHONE_NUMBER>, or Andrea Ottomanelli Magovern, Branch
Chief, at<PHONE_NUMBER> (Division of Investment Management, Chief
Counsel's Office).

SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained via the
Commission's website by searching for the file number, or for an
applicant using the Company name box, at http://www.sec.gov/search/search.htm or by calling<PHONE_NUMBER>.

Summary of the Application

    1. The Initial Adviser is the investment adviser to the AAM S&P 500
High Dividend Value ETF and AAM S&P Emerging Markets High Dividend
Value ETF (together, the ``Initial Funds''), each a series of the
Trust, pursuant to an investment management agreement with the Trust
(``Investment Management Agreement'').\1\ Under the terms of the
Investment Management Agreement, the Adviser, subject to the

supervision of the board of trustees of the Trust (``Board''), provides
continuous investment management of the assets of each Subadvised Fund.
Consistent with the terms of the Investment Management Agreement, the
Adviser may, subject to the approval of the Board, delegate portfolio
management responsibilities of all or a portion of the assets of a
Subadvised Fund to one or more Sub-Advisers.\2\ The Adviser will
continue to have overall responsibility for the management and
investment of the assets of each Subadvised Fund. The Adviser will
evaluate, select, and recommend Sub-Advisers to manage the assets of a
Subadvised Fund and will oversee, monitor and review the Sub-Advisers
and their performance and recommend the removal or replacement of Sub-
Advisers.
---------------------------------------------------------------------------

    \1\ Applicants request relief with respect to the Initial Funds,
as well as to any future series of the Trust and any other existing
or future registered open-end management investment company or
series thereof that, in each case, is advised by the Initial Adviser
or any entity controlling, controlled by, or under common control
with, the Initial Adviser or its successors (each, also an
``Adviser''), uses the multi-manager structure described in the
application, and complies with the terms and conditions set forth in
the application (each, a ``Subadvised Fund''). For purposes of the
requested order, ``successor'' is limited to an entity that results
from a reorganization into another jurisdiction or a change in the
type of business organization. Future Subadvised Funds may be
operated as a master-feeder structure pursuant to section
12(d)(1)(E) of the Act. In such a structure, certain series of the
Trust (each, a ``Feeder Fund'') may invest substantially all of
their assets in a Subadvised Fund (a ``Master Fund'') pursuant to
section 12(d)(1)(E) of the Act. No Feeder Fund will engage any sub-
advisers other than through approving the engagement of one or more
of the Master Fund's sub-advisers.
    \2\ As used herein, a ``Sub-Adviser'' for a Subadvised Fund is
(1) an indirect or direct ``wholly owned subsidiary'' (as such term
is defined in the Act) of the Adviser for that Subadvised Fund, or
(2) a sister company of the Adviser for that Subadvised Fund that is
an indirect or direct ``wholly-owned subsidiary'' of the same
company that, indirectly or directly, wholly owns the Adviser (each
of (1) and (2) a ``Wholly-Owned Sub-Adviser'' and collectively, the
``Wholly-Owned Sub-Advisers''), or (3) not an ``affiliated person''
(as such term is defined in section 2(a)(3) of the Act) of the
Subadvised Fund, any Feeder Fund invested in a Master Fund, the
Trust, or the Adviser, except to the extent that an affiliation
arises solely because the Sub-Adviser serves as a sub-adviser to a
Subadvised Fund (``Non-Affiliated Sub-Advisers'').
---------------------------------------------------------------------------

    2. Applicants request an order to permit the Adviser, subject to
the approval of the Board, to enter into investment sub-advisory
agreements with the Sub-Advisers (each, a ``Sub-Advisory Agreement'')
and materially amend such Sub-Advisory Agreements without obtaining the
shareholder approval required under section 15(a) of the Act and rule
18f-2 under the Act.\3\ Applicants also seek an exemption from the
Disclosure Requirements to permit a Subadvised Fund to disclose (as
both a dollar amount and a percentage of the Subadvised Fund's net
assets): (a) The aggregate fees paid to the Adviser and any Wholly-
Owned Sub-Adviser; (b) the aggregate fees paid to Non-Affiliated Sub-
Advisers; and (c) the fee paid to each Affiliated Sub-Adviser
(collectively, Aggregate Fee Disclosure'').\4\
---------------------------------------------------------------------------

    \3\ The requested relief will not extend to any sub-adviser,
other than a Wholly-Owned Sub-Adviser, who is an affiliated person,
as defined in section 2(a)(3) of the Act, of the Subadvised Fund, of
any Feeder Fund, or of the Adviser, other than by reason of serving
as a sub-adviser to one or more of the Subadvised Funds
(``Affiliated Sub-Adviser'').
    \4\ For any Subadvised Fund that is a Master Fund, the relief
would also permit any Feeder Fund invested in that Master Fund to
disclose Aggregate Fee Disclosure.
---------------------------------------------------------------------------

    3. Applicants agree that any order granting the requested relief
will be subject to the terms and conditions stated in the application.
Such terms and conditions provide for, among other safeguards,
appropriate disclosure to Subadvised Funds' shareholders and
notification about sub-advisory changes and enhanced Board oversight to
protect the interests of the Subadvised Funds' shareholders.
    4. Section 6(c) of the Act provides that the Commission may exempt
any person, security, or transaction or any class or classes of
persons, securities, or transactions from any provisions of the Act, or
any rule thereunder, if such relief is necessary or appropriate in the
public interest and consistent with the protection of investors and
purposes fairly intended by the policy and provisions of the Act.
Applicants believe that the requested relief meets this standard
because, as further explained in the application, the Investment
Management Agreements will remain subject to shareholder approval,
while the role of the Sub-Advisers is substantially equivalent to that
of individual portfolio managers, so that requiring shareholder
approval of Sub-Advisory Agreements would impose unnecessary delays and
expenses on the Subadvised Funds. Applicants believe that the requested
relief from the Disclosure Requirements meets this standard because it
will improve the Adviser's ability to negotiate fees paid to the Sub-
Advisers that are more advantageous for the Subadvised Funds.

    For the Commission, by the Division of Investment Management,
under delegated authority.
Eduardo A. Aleman,
Assistant Secretary.
[FR Doc. 2018-16155 Filed 7-27-18; 8:45 am]
 BILLING CODE 8011-01-P


MemoTo:	Docket EPA-HQ-OAR-2021-0208
From:	Michael Shelby, U.S. EPA-OTAQ-TCD
CC:	Michael Olechiw, U.S. EPA-OTAQ-ASD
Date:	July 9th, 2021
Re:	Docket of Reference Materials (that are Not Copyrighted) for Energy Security (Chapter 3.2 in DRIA NPRM LDV)
Hello Michael

      Here are the Reference materials that do not have copyright restrictions used for the Energy Security section of Chapter 3.2 of the DRIA of the NPRM for the LDV rule.

The following Reference Materials are for the docket (see attachments in accompanying file).
(1) U.S. Energy Information Administration. 2021. Total Energy. Annual Energy Review. Table 3.1. Petroleum Overview. April.
(2) U.S. Energy Information Administration. 2021. Annual Energy Outlook 2021. Reference Case. Table A11. Petroleum and Other Liquids Supply and Disposition.
(3) See EIA https://www.eia.gov/energyexplained/oil-and-petroleum-products/imports-and-exports.php
(4) U.S. Energy Information Administration. September 23, 2019. "Saudi Arabia crude oil production outage affects global crude oil and gasoline prices". Today in Energy.
(5) Union of Concerned Scientist, "What is Tight Oil?". 2015. "Tight oil is a type of oil found in impermeable shale and limestone rock deposits. Also known as "shale oil," tight oil is processed into gasoline, diesel, and jet fuels -- just like conventional oil -- but is extracted using hydraulic fracturing, or "fracking."
(6) U.S. Energy Information Administration. 2021. Annual Energy Outlook 2021. Reference Case. Table A11. Petroleum and Other Liquids Supply and Disposition.
(7) U.S. Energy Information Administration. 2021. Annual Energy Outlook 2021. Reference Case. Table A11. Petroleum and Other Liquids Supply and Disposition.
(8) Joint Technical Support Document, Final Rulemaking to Establish Light-Duty Vehicle Greenhouse Gas Emission Standards and Corporate Average Fuel Economy Standards, EPA-420-R-10-901, April 2010. Final Rulemaking for 2017-2025 Light-Duty Vehicle Greenhouse Gas Emission Standards, EPA-420-R-12, August 2012.
(9) Final Rulemaking to Establish Greenhouse Gas Emissions Standards and Fuel Efficiency Standards for Medium- and Heavy-Duty Engines and Vehicles Regulatory Impact Analysis, U.S. EPA/NHTSA, EPA-420-R-11-901, August 2011.
(10) Greenhouse Gas Emissions and Fuel Efficiency Standards for Medium- and Heavy-Duty Engines and Vehicles - Phase 2 Regulatory Impact Analysis, U.S. EPA/NHTSA, EPA-420-R-16-900 August 2016.
(11) Energy Security Impacts. Effect of Oil Use on the Long-Run Oil Price. Section 10. 5.2.1. pp.10-25. 2016. Draft Technical Assessment Report: Midterm Evaluation of Light-Duty Vehicle Greenhouse Gas Emission Standards and Corporate Average Fuel Economy Standards for Model Years 2022-2025. EPA-420-D-16-900.
(12) Regulation of Fuels and Fuel Additives: Changes to Renewable Fuel Standard Program; Proposed Rule, 40 C.F.R. §80 (2010).
(13) IEA, Data and Statistics, https://www.iea.org/data-and-statistics?country=WORLD&fuel=Oil&indicator=OilProductsConsBySector; Accessed March 2021.
(14) Regulation of Fuels and Fuel Additives: Changes to Renewable Fuel Standard Program; Proposed Rule, 40 C.F.R. §80. 2010.


[Federal Register Volume 81, Number 226 (Wednesday, November 23, 2016)]
[Notices]
[Pages 84635-84636]
[FR Doc No: 2016-28183]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-79337; File No. SR-NYSEARCA-2016-145]

Self-Regulatory Organizations; NYSE Arca, Inc.; Notice of Filing
of Proposed Rule Change To Conform to Proposed Amendments to Securities
Exchange Act Rule 15c6-1(A) To Shorten the Standard Settlement Cycle
From Three Business Days After the Trade Date (``T+3'') to Two Business
Days After the Trade Date (``T+2'')

November 17, 2016.
    Pursuant to Section 19(b)(1) \1\ of the Securities Exchange Act of
1934 (the ``Act'') \2\ and Rule 19b-4 thereunder,\3\ notice is hereby
given that, on November 4, 2016, NYSE Arca, Inc. (the ``Exchange'' or
``NYSE Arca'') filed with the Securities and Exchange Commission (the
``Commission'') the proposed rule change as described in Items I, II,
and III below, which Items have been prepared by the self-regulatory
organization. The Commission is publishing this notice to solicit
comments on the proposed rule change from interested persons.
---------------------------------------------------------------------------

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

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

    The Exchange proposes to, through its wholly-owned corporation,
NYSE Arca Equities, Inc. (``NYSE Arca Equities''), adopt new NYSE Arca
Equities Rule 7.4T (``Rule 7.4T'') to conform to proposed amendments to
Securities Exchange Act Rule 15c6-1(a) to shorten the standard
settlement cycle from three business days after the trade date to two
business days after the trade date. The proposed rule change is
available on the Exchange's Web site at www.nyse.com, at the principal
office of the Exchange, and at the Commission's Public Reference Room.

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

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

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

1. Purpose
    The Exchange proposes to adopt a new Rule 7.4T (Ex-Dividend or Ex-
Right Dates) conform to proposed amendments to Securities Exchange Act
Rule 15c6-1(a) \4\ to shorten the standard settlement cycle from T+3 to
T+2.
---------------------------------------------------------------------------

    \4\ See 17 CFR 240.15c6-1(a); see also notes 7-8, infra.
---------------------------------------------------------------------------

    The proposed new rule would have the same numbering as the current
rule, but with the modifier ``T'' appended to the rule number. As
discussed below, because the Exchange would not implement the proposed
rule until after the final implementation of T+2, the Exchange proposes
to retain the current version of Rule 7.4 on its books and not delete
it until after the proposed rule is approved. The Exchange also
proposes to file separate proposed rule changes to establish the
operative date of the proposed rule and to delete the current version
of the rule.
Background
    In 1993, the Securities and Exchange Commission (the ``SEC'' or
``Commission'') adopted Rule 15c6-1(a) \5\ under the Act, which
established three business days after trade date instead of five
business days (``T+5''), as the standard trade settlement cycle for
most securities transactions. The rule became effective in June
1995.\6\ In November 1994, the Exchange amended its rules to be
consistent with the T+3 settlement cycle for securities
transactions.\7\
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    \5\ 17 CFR 240.15c6-1(a).
    \6\ See Securities Exchange Act Release Nos. 33023 (October 6,
1993), 58 FR 52891 (order adopting Rule 15c6-1) and 34952 (November
9, 1994), 59 FR 59137 (order changing the effective date from June
1, 1995, to June 7, 1995).
    \7\ See Securities Exchange Act Release Nos. 35110 (December 16,
1994), 59 FR 0 (December 23, 1994) (SR-NYSE-94-40) (Notice) and
35506 (March 17, 1995), 60 FR 15618 (March 24, 1995) (SR-NYSE-94-40)
(Approval Order).
---------------------------------------------------------------------------

    On September 28, 2016, the SEC proposed amendments to Rule 15c6-
1(a) to shorten the standard settlement cycle from T+3 to T+2 on the
basis that the shorter settlement cycle would reduce the risks that
arise from the value and number of unsettled securities transactions
prior to completion of settlement, including credit, market and
liquidity risk faced by U.S. market participants.\8\ The proposed rule
amendment was published for comment in the Federal Register on October
5, 2016.\9\ In light of this action by the SEC, the Exchange proposes
new rules to reflect ``regular way'' settlement as occurring on
T+2.\10\
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    \8\ See SEC Press Release 2016-200: ``SEC Proposes Rule
Amendment to Expedite Process for Settling Securities Transactions''
(September 28, 2016).
    \9\ See Securities Exchange Act Release No. 78962 (September 28,
2016), 81 FR 69240 (October 5, 2016) (File No. S7-22-16).
    \10\ Earlier this year the MSRB also filed a rule change to
reflect ``regular way'' settlement as occurring on T+2. See
Securities Exchange Act Release Nos. 77744 68678 [sic] (April 29,
2016), [sic] 81 FR 14906 (March 18, 2016) (SR-MSRB-2016-04)
(approving proposed amendments to MSRB Rules G- 12 and G-15 to
define regular-way settlement for municipal securities transactions
as occurring on a two-day settlement cycle and technical conforming
amendments).
---------------------------------------------------------------------------

Proposed Rule Change
    The Exchange proposes a new Rule 7.4T to reflect a T+2 settlement
cycle.\11\ Current Rule 7.4 provides that transactions in stocks traded
``regular'' shall be ``ex-dividend'' or ``ex-rights'' as the case may
be, on the second business day preceding the record date fixed by the
company or the date of the closing of transfer books, except when the
Board of Directors rules otherwise. Proposed Rule 7.4T would not
include the word ``second'' so that the reference would be to the
``business day'' preceding the record date. The current version of Rule
7.4 further provides that if the record date or closing of transfer
books occur upon a day other than a business day, the rule shall apply
for the third preceding business day. Proposed Rule 7.4T would replace
``third preceding business day'' to ``second preceding business day.''
---------------------------------------------------------------------------

    \11\ Current Rule 7.4 was adopted originally as Rule 7.7 of the
PCX Equities Exchange in 2000 and reflects a T+3 settlement cycle
for securities transactions.
---------------------------------------------------------------------------

Operative Date Preambles
    As noted above, because the Exchange would not implement the
proposed rule until after the final implementation of T+2, the Exchange
proposes to retain to retain the current version of Rule 7.4 on its
books and not delete it until after the proposed rule is approved. The
Exchange also proposes to file separate proposed rule changes as
necessary to establish the operative date of Proposed Rule 7.4T and to
delete the current version of the rule.
    To reduce the potential for confusion regarding which version of
the rule governs, the Exchange proposes to add a preamble to current
Rule 7.4 providing that: (1) The rule will remain operative until the
Exchange files separate

proposed rule changes as necessary to establish the operative date of
the revised rule, to delete the current rule and proposed preamble, and
to remove the preamble text from the revised rule; and (2) in addition
to filing the necessary proposed rule changes, the Exchange will
announce via Information Memo the operative date of the deletion of the
current rule and implementation of proposed Rule 7.4T.
    The Exchange also proposes to add a preamble to proposed Rule 7.4T
that would provide that: (1) The Exchange will file a separate rule
change to establish the operative date of the proposed rule, delete the
current version and the proposed preamble, and remove the preamble text
from the revised rule; and (2) until such time, the current version of
the rule will remain operative and that, in addition to filing the
necessary proposed rule changes, the Exchange will announce via
Information Memo the implementation of the proposed rule and the
operative date of the deletion of the current rule.
2. Statutory Basis
    The Exchange believes that the proposed rule change is consistent
with Section 6(b) of the Act,\12\ in general, and furthers the
objectives of Section 6(b)(5) of the Act,\13\ in particular, because it
is designed to prevent fraudulent and manipulative acts and practices,
promote just and equitable principles of trade, remove impediments to
and perfect the mechanism of a free and open market and a national
market system, and, in general, to protect investors and the public
interest. In particular, the Exchange believes that, by shortening the
time period for settlement of most securities transactions, the
proposed rule change would protect investors and the public interest by
reducing the number of unsettled trades in the clearance and settlement
system at any given time, thereby reducing the risk inherent in
settling securities transactions to clearing corporations, their
members and public investors. The Exchange also believes that adding a
preamble to each current rule and to each proposed rule clarifying the
operative dates of the respective versions would remove impediments to
and perfect the mechanism of a free and open market and a national
market system by adding clarity and transparency to the Exchange's
rules, reducing potential confusion, and making the Exchange's rules
easier to navigate.
---------------------------------------------------------------------------

    \12\ 15 U.S.C. 78f(b).
    \13\ 15 U.S.C. 78f(b)(5).
---------------------------------------------------------------------------

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

    The Exchange does not believe that the proposed rule change will
impose any burden on competition that is not necessary or appropriate
in furtherance of the purposes of the Act. The proposed change is not
designed to address any competitive issue but rather facilitate the
industry's transition to a T+2 regular-way settlement cycle. The
Exchange also believes that the proposed rule change will serve to
promote clarity and consistency, thereby reducing burdens on the
marketplace and facilitating investor protection.

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

    No written comments were solicited or received with respect to the
proposed rule change.

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

    Within 45 days of the date of publication of this notice in the
Federal Register or up to 90 days (i) as the Commission may designate
if it finds such longer period to be appropriate and publishes its
reasons for so finding or (ii) as to which the self-regulatory
organization consents, the Commission will:
    (A) By order approve or disapprove the proposed rule change, or
    (B) institute proceedings to determine whether the proposed rule
change should be disapproved.

IV. Solicitation of Comments

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

Electronic Comments

     Use the Commission's Internet comment form (http://www.sec.gov/rules/sro.shtml); or
     Send an email to<EMAIL_ADDRESS>Please include
File Number SR-NYSEArca-2016-145 on the subject line.

Paper Comments

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

All submissions should refer to File Number SR-NYSEArca-2016-145. This
file number should be included on the subject line if email is used. To
help the Commission process and review your comments more efficiently,
please use only one method. The Commission will post all comments on
the Commission's Internet Web site (http://www.sec.gov/rules/sro.shtml). Copies of the submission, all subsequent amendments, all
written statements with respect to the proposed rule change that are
filed with the Commission, and all written communications relating to
the proposed rule change between the Commission and any person, other
than those that may be withheld from the public in accordance with the
provisions of 5 U.S.C. 552, will be available for Web site viewing and
printing in the Commission's Public Reference Room, 100 F Street NE.,
Washington, DC 20549, on official business days between the hours of
10:00 a.m. and 3:00 p.m. Copies of the filing also will be available
for inspection and copying at the principal office of the Exchange. All
comments received will be posted without change; the Commission does
not edit personal identifying information from submissions. You should
submit only information that you wish to make available publicly. All
submissions should refer to File Number SR-NYSEArca-2016-145, and
should be submitted on or before December 14, 2016.
---------------------------------------------------------------------------

    \14\ 17 CFR 200.30-3(a)(12).

    For the Commission, by the Division of Trading and Markets,
pursuant to delegated authority.\14\
Brent J. Fields,
Secretary.
[FR Doc. 2016-28183 Filed 11-22-16; 8:45 am]
 BILLING CODE 8011-01-P


[Federal Register Volume 79, Number 187 (Friday, September 26, 2014)]
[Notices]
[Page 57992]
[FR Doc No: 2014-22917]

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SECURITIES AND EXCHANGE COMMISSION

Submission for OMB Review; Comment Request

Upon Written Request Copies Available From: Securities and Exchange
Commission Office of FOIA Services, 100 F Street NE., Washington, DC
20549-2736.

Extension:
    Form F-3: SEC File No. 270-251, OMB Control No. 3235-0256.

    Notice is hereby given that, pursuant to the Paperwork Reduction
Act of 1995 (44 U.S.C. 3501 et seq.), the Securities and Exchange
Commission (``Commission'') is soliciting comments on the collection of
information summarized below. The Commission plans to submit this
existing collection of information to the Office of Management and
Budget for extension and approval.
    Form F-3 (17 CFR 239.33) is used by foreign issuers to register
securities pursuant to the Securities Act of 1933 (15 U.S.C. 77a et
seq.). The information collected is intended to ensure that the
information required to be filed by the Commission permits verification
of compliance with securities law requirements and assures the public
availability of such information. Form F-3 takes approximately 167
hours per response and is filed by approximately 107 respondents. We
estimate that 25% of the 167 hours per response (41.75 hours) is
prepared by the registrant for a total annual reporting burden of 4,467
hours (41.75 hours per response x 107 responses).
    An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless it displays a
currently valid control number.
    The public may view the background documentation for this
information collection at the following Web site, www.reginfo.govq.
Comments should be directed to: (i) Desk Officer for the Securities and
Exchange Commission, Office of Information and Regulatory Affairs,
Office of Management and Budget, Room 10102, New Executive Office
Building, Washington, DC 20503, or by sending an email to:
<EMAIL_ADDRESS>and (ii) Thomas Bayer, Director/
Chief Information Officer, Securities and Exchange Commission, c/o Remi
Pavlik-Simon, 100 F Street NE., Washington, DC 20549 or send an email
to<EMAIL_ADDRESS>Comments must be submitted to OMB
within 30 days of this notice.

    Dated: September 22, 2014.
Kevin M. O'Neill,
Deputy Secretary.
[FR Doc. 2014-22917 Filed 9-25-14; 8:45 am]
BILLING CODE 8011-01-P