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Federal Register/Vol. 63, No. 241/Wednesday, December 16, 1998/Rules and Regulations

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Federal Register/Vol. 63, No. 241/Wednesday, December 16, 1998/Rules and Regulations Federal Register / Vol. 63, No. 241 / Wednesday, December 16, 1998 / Rules and Regulations 69191 DEPARTMENT OF THE TREASURY date of the publication of the final rule PART 357ÐREGULATIONS and had concluded that they were GOVERNING BOOK-ENTRY Fiscal Service substantially identical to the uniform TREASURY BONDS, NOTES AND version. Those 28 states were BILLS 31 CFR Part 357 enumerated and listed by name 1. The authority citation for Part 357 [Department of the Treasury Circular, Public alphabetically in a footnote. continues to read as follows: Debt Series, No. 2±86] Treasury further indicated that it would publish in the Federal Register a Authority: 31 U.S.C. Chapter 31; 5 U.S.C. Regulations Governing Book-Entry 301; 12 U.S.C. 391. notice setting forth its conclusion as to Treasury Bonds, Notes and Bills whether additional state enactments of 2. Appendix B to Part 357 is amended AGENCY: Bureau of the Public Debt, Revised Article 8 are ``substantially in the Section-by-Section Analysis for Fiscal Service, Treasury. identical'' to the uniform version for Section 357.11(b), in the third ACTION: Final rule. purposes of the regulations. Treasury paragraph, by revising the fourth has published such notices with respect sentence and footnote 11 to read as SUMMARY: The Department of the to 22 states: California (62 FR 26, follows: Treasury is publishing a final rule to January 2, 1997), District of Columbia Appendix B to Part 357ÐTRADES amend its TRADES Commentary (62 FR 34010, June 18, 1997), Delaware, Commentary (Appendix B of 31 CFR Part 357), to Hawaii, Maine, Missouri, Montana, update the list of states that have Nevada, New Jersey, New York, North * * * * * enacted Revised Article 8 of the Carolina, North Dakota, Ohio, Section-by-Section Analysis Uniform Commercial Code and that Tennessee and Puerto Rico (62 FR were the subject of prior notices 61912, November 20, 1997), South * * * * * published by Treasury in the Federal Dakota (63 FR 20099, April 23, 1998), Section 357.11ÐLaw Governing Other Register. Appendix B provides Georgia, Florida and Connecticut (63 FR Interests explanatory information regarding the 35807, July 1, 1998) and Wisconsin, * * * * * regulations governing Treasury New Hampshire and Michigan (63 FR securities held in the commercial book- (b) Limited Scope of Federal 50159, September 21, 1998). The Preemption *** entry system, referred to as the TRADES Commentary further states that Treasury/Reserve Automated Debt Entry ** * Treasury has determined that Treasury will, on an annual basis, 11 System (``TRADES''). the versions of Article 8 passed by 50 amend the Commentary (Appendix B) to states that have enacted Article 8 meet EFFECTIVE DATE: December 16, 1998. reflect subsequent enactments. The this standard. * ** FOR FURTHER INFORMATION CONTACT: Commentary was amended last year to Sandra Dyson, Attorney-Advisor (202) add California and the District of Dated: November 10, 1998. 219±3320, or Cynthia E. Reese, Deputy Columbia to the list. Accordingly, this Donald V. Hammond, Chief Counsel, (202) 219-3320. Copies of final rule amends Appendix B to reflect Fiscal Assistant Secretary. the final rule are being made available the addition of the other nineteen [FR Doc. 98±33263 Filed 12±15±98; 8:45 am] for downloading from the Bureau of the aforementioned states for which BILLING CODE 4810±39±W Public Debt home page at the following Treasury has published notices to the address: www.publicdebt.treas.gov. list of states enumerated therein. SUPPLEMENTARY INFORMATION: The final DEPARTMENT OF TRANSPORTATION Procedural Requirements rule to govern Treasury securities held in the commercial book-entry system, or This final rule does not meet the Coast Guard TRADES, was published August 23, criteria for a ``significant regulatory 33 CFR Part 117 1996 (61 FR 43626), and was effective action'' pursuant to Executive Order January 1, 1997. Appendix B of the rule, 12866. The notice and public comment [CGD05±98±017] the TRADES Commentary, addresses the procedures requirements of the RIN 2115±AE47 limited scope of federal preemption of Administrative Procedure Act are state law under Section 357.11 of the inapplicable, pursuant to 5 U.S.C. Drawbridge Operation Regulations; Section-by Section Analysis. If the 553(a)(2). Anacostia River, Washington, DC choice of law rules set forth in TRADES As no notice of proposed rulemaking AGENCY: Coast Guard, DOT. lead to the application of the law of a is required, the provisions of the ACTION: Temporary final rule. state that has not yet adopted Revised Regulatory Flexibility Act (5 U.S.C. 601, Article 8 of the Uniform Commercial et seq.) do not apply. SUMMARY: The Coast Guard is revising Code (Revised Article 8) then TRADES There are no collections of the rule currently governing the applies Revised Article 8 (as approved information contained in this final rule. operation of the Frederick Douglass by the American Law Institute and the Therefore, the Paperwork Reduction Act Memorial (South Capitol Street) bridge National Conference of Commissioners does not apply. on Uniform State Laws, or the ``uniform 11 Alabama, Alaska, Arizona, Arkansas, version''). Treasury indicated in the List of Subjects in 31 CFR Part 357 California, Colorado, Connecticut, Delaware, preamble to the final rule that if a state District of Columbia, Florida, Georgia, Hawaii, passes a version of Revised Article 8 Bonds, Electronic funds transfer, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Federal Reserve System, Government Louisiana, Maine, Maryland, Massachusetts, that is substantially identical to the Michigan, Minnesota, Mississippi, Missouri, uniform version, then reference to the securities, Incorporation by reference, Securities. Montana, Nebraska, Nevada, New Hampshire, New uniform version would no longer be Jersey, New Mexico, New York, North Carolina, required. In the TRADES Commentary, For the reasons set forth in the North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, South Dakota, Treasury further stated that it had preamble, Title 31, Chapter II, Tennessee, Texas, Utah, Vermont, Virginia, reviewed the laws of those states which Subchapter B, Part 357 is amended as Washington, West Virginia, Wisconsin and had adopted Revised Article 8 as of the follows: Wyoming. 69192 Federal Register / Vol. 63, No. 241 / Wednesday, December 16, 1998 / Rules and Regulations across Anacostia River at mile 1.2 in that the bridge swing span rehabilitation concerns'' under section 3 of the Small Washington, DC. This temporary rule will be completed by December 31, 1998 Business Act (15 U.S.C. 632). again authorizes this bridge to remain with the functional testing completed by As a result of notifying the affected closed to navigation until January 31, January 31, 1999. In addition, the users of the waterway of the extension, 1999. This action is necessary to contractor has assured the bridge owner the limited requests for vessel openings complete on-going extensive mechanical that the contractor will provide the and the ability of nearby vessels to clear and electrical rehabilitation and resources, manpower, and additional the bridge's closed-position vertical maintain the bridge's operational work shifts as required to ensure that clearance, the Coast Guard certifies integrity. the bridge operation deadline of January under 5 U.S.C. 605(b) that this rule will DATES: This temporary final rule is 31, 1999 is met. Therefore, the Coast not have a significant economic impact effective from December 4, 1998 to 11 Guard is extending the closure period on a substantial number of small p.m. on January 31, 1999. until January 31, 1999 so the repairs can entities. ADDRESSES: Documents as indicated in be completed. Collection of Information this preamble are available for The Coast Guard has notified the This rule contains no collection of inspection or copying at the office of the affected users of the waterway of this information requirement under the Commander (Aowb), Fifth Coast Guard closure extension. The U.S. Navy Paperwork Reduction Act of 1995 (44 District, Federal Building, 4th Floor, 431 indicated that it will not be affected by U.S.C. 3501±3520). Crawford Street, Portsmouth, Virginia the extension. The Coast Guard also 23704±5004, between 8 a.m. and 4:30 contacted EPA's Office of Water Federalism p.m., Monday through Friday, except Programs and the local Coast Guard unit The Coast Guard has analyzed this Federal holidays. The telephone number (USCG Station St. Inigoes) of the rule under the principles and criteria is (757) 398±6222. bridge's extended inability to open for contained in Executive Order 12612 and FOR FURTHER INFORMATION CONTACT: Ann vessels, and they did not object. has determined that this rule does not Deaton, Bridge Administrator, Fifth Additionally, vessels docked at a nearby have sufficient federalism implications Coast Guard District, (757) 398±6222. marina can clear the bridge's vertical to warrant preparation of a Federalism SUPPLEMENTARY INFORMATION: In clearance in the closed position, which Assessment. accordance with 5 U.S.C. 553, a notice is 42 feet at mean high water. Therefore, Environment of proposed rulemaking was not vessels are not expected to be negatively published for this regulation and good impacted by this temporary rule. The Coast Guard considered the cause exists for making it effective in Regulatory Evaluation environmental impact of this rule and less than 30 days from the date of concluded that under figure 2±1, publication. The Coast Guard was This temporary final rule is not a paragraph (32)(2) of Commandant notified of the second extension request significant regulatory action under Instruction M16475.1C, this rule is on November 10, 1998. Subsequently, section 3(f) of Executive Order 12866 categorically excluded from further publication of a notice of proposed and does not require an assessment of environmental documentation based on rulemaking and delay of effective date potential costs and benefits under the fact that it is a promulgation of the would be contrary to the public interest section 6(a)(3) of that order.
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