66285 Proposed Rules Federal Register Vol. 71, No. 219 Tuesday, November 14, 2006 This section of the FEDERAL REGISTER Wednesday, November 1, 2006, no one SUPPLEMENTARY INFORMATION: FEMA contains notices to the public of the proposed has requested to speak. Therefore, the proposes to make determinations of issuance of rules and regulations. The public hearing scheduled for November BFEs and modified BFEs for each purpose of these notices is to give interested 21, 2006, is cancelled. community listed below, in accordance persons an opportunity to participate in the with Section 110 of the Flood Disaster rule making prior to the adoption of the final Cynthia Grigsby, rules. Protection Act of 1973, 42 U.S.C. 4104, Senior Federal Register Liaison, Publications and 44 CFR 67.4(a). and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure These proposed BFEs and modified DEPARTMENT OF THE TREASURY and Administration). BFEs, together with the floodplain [FR Doc. E6–19138 Filed 11–13–06; 8:45 am] management criteria required by 44 CFR Internal Revenue Service BILLING CODE 4830–01–P 60.3, are the minimum that are required. They should not be construed to mean 26 CFR Part 1 that the community must change any [REG–208270–86] existing ordinances that are more DEPARTMENT OF HOMELAND stringent in their floodplain SECURITY RIN 1545–AM12 management requirements. The Income and Currency Gain or Loss Federal Emergency Management community may at any time enact With Respect to a Section 987 QBU; Agency stricter requirements of its own, or Hearing Cancellation pursuant to policies established by other 44 CFR Part 67 Federal, state or regional entities. These AGENCY: Internal Revenue Service (IRS), proposed elevations are used to meet Treasury. [Docket No. FEMA–D–7682] the floodplain management ACTION: Cancellation of notice of public requirements of the NFIP and are also hearing on proposed rulemaking. Proposed Flood Elevation used to calculate the appropriate flood Determinations insurance premium rates for new SUMMARY: This document cancels a buildings built after these elevations are AGENCY: Federal Emergency public hearing on proposed regulations made final, and for the contents in these Management Agency (FEMA), concerning the determination of the buildings. items of income or loss of a taxpayer Department of Homeland Security, National Environmental Policy Act. with respect to a section 987 qualified Mitigation Division. This proposed rule is categorically business unit, as well as the timing, ACTION: Proposed rule. excluded from the requirements of 44 amount, character and source of any SUMMARY CFR Part 10, Environmental section 987 gain or loss. : Technical information or comments are requested on the Consideration. No environmental DATES: The public hearing, originally proposed Base (1% annual chance) impact assessment has been prepared. scheduled for November 21, 2006, at 10 Flood Elevations (BFEs) and proposed a.m. is cancelled. Regulatory Flexibility Act. As flood BFEs modifications for the communities elevation determinations are not within FOR FURTHER INFORMATION CONTACT: listed below. The BFEs are the basis for the scope of the Regulatory Flexibility Kelly Banks of the Publications and the floodplain management measures Act, 5 U.S.C. 601–612, a regulatory Regulations Branch, Legal Processing that the community is required either to flexibility analysis is not required. Division, Associate Chief Counsel adopt or to show evidence of being (Procedure and Administration) at (202) already in effect in order to qualify or Regulatory Classification. This 622–0392 (not a toll-free number). remain qualified for participation in the proposed rule is not a significant SUPPLEMENTARY INFORMATION: A notice National Flood Insurance Program regulatory action under the criteria of of proposed rulemaking and notice of (NFIP). Section 3(f) of Executive Order 12866 of public hearing that appeared in the September 30, 1993, Regulatory DATES: The comment period is ninety Planning and Review, 58 FR 51735. Federal Register on Thursday, (90) days following the second September 7, 2006 (71 FR 52876), publication of this proposed rule in a Executive Order 13132, Federalism. announced that a public hearing was newspaper of local circulation in each This rule involves no policies that have scheduled for November 21, 2006, at 10 community. federalism implications under Executive a.m. in the IRS Auditorium, New Order 13132. ADDRESSES: The proposed BFEs for each Carrollton Federal Building, 5000 Ellin Executive Order 12988, Civil Justice Road, Lanham, MD 20706. The subject community are available for inspection at the office of the Chief Executive Reform. This rule meets the applicable of the public hearing is under section standards of Executive Order 12988. 987 of the Internal Revenue Code. Officer of each community. The The public comment period expires respective addresses are listed in the List of Subjects in 44 CFR Part 67 on December 6, 2006. The notice of table below. proposed rulemaking and notice of FOR FURTHER INFORMATION CONTACT: Administrative practice and public hearing instructed those William R. Blanton, Jr., Engineering procedure, Flood insurance, Reporting interested in testifying at the public Management Section, Mitigation and recordkeeping requirements. hearing to submit an outline of the Division, 500 C Street, SW., Accordingly, 44 CFR part 67 is topics to be addressed. As of Washington, DC 20472, (202) 646–3151. proposed to be amended as follows: VerDate Aug<31>2005 19:06 Nov 13, 2006 Jkt 211001 PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 E:\FR\FM\14NOP1.SGM 14NOP1 sroberts on PROD1PC70 with PROPOSALS 66286 Federal Register / Vol. 71, No. 219 / Tuesday, November 14, 2006 / Proposed Rules PART 67—[AMENDED] Authority: 42 U.S.C. 4001 et seq.; § 67.4 [Amended] Reorganization Plan No. 3 of 1978, 3 CFR, 2. The tables published under the 1. The authority citation for part 67 1978 Comp., p. 329; E.O. 12127, 44 FR 19367, authority of § 67.4 are proposed to be continues to read as follows: 3 CFR, 1979 Comp., p. 376. amended as follows: * Elevation in feet (NGVD) + Elevation in feet (NAVD) Flooding source(s) Location of referenced elevation # Depth in feet Communities affected above ground Effective Modified Caswell County, North Carolina and Incorporated Areas Bear Branch ........................ At the confluence with Moon Creek ................................ None ........ +426 Caswell County (Unincor- porated Areas). Approximately 2.6 miles upstream of the confluence None ........ +469 with Moon Creek. Tributary 1 .................... At the confluence with Bear Branch ............................... None ........ +432 Caswell County (Unincor- porated Areas). Approximately 900 feet upstream of the confluence with None ........ +432 Bear Branch. Tributary 2 .................... At the confluence with Bear Branch ............................... None ........ +457 Caswell County (Unincor- porated Areas). Approximately 0.6 mile upstream of the confluence with None ........ +480 Bear Branch. Benaja Creek ...................... At the confluence with South Country Line Creek ......... None ........ +430 Caswell County (Unincor- porated Areas). Approximately 0.5 mile upstream of the confluence with None ........ +437 South Country Line Creek. Burkes Creek ...................... At the confluence with Penson Creek ............................ None ........ +462 Caswell County (Unincor- porated Areas). Approximately 150 feet upstream of Oakview Loop None ........ +570 Road (SR 1156). Burlington Reservoir ........... Backwater area approximately 0.8 mile west along None ........ +579 Caswell County (Unincor- Caswell/Alamance County boundary from Tom’s porated Areas). Creek Crossing County boundary. Byrds Creek ........................ At the confluence with South Country Line Creek ......... None ........ +457 Caswell County (Unincor- porated Areas). Approximately 2.6 miles upstream of Fitch Road (SR None ........ +581 1751). Cane Creek ......................... At the confluence with Dan River ................................... None ........ +384 Caswell County (Unincor- porated Areas). Approximately 250 feet upstream of Mountain Hill Road None ........ +384 (SR 1527). Cobbs Creek ....................... At the Caswell/Person County boundary ........................ None ........ +422 Caswell County (Unincor- porated Areas). Approximately 75 feet upstream of Old Durham Road None ........ +536 (SR 1700). Tributary 1 .................... At the confluence with Cobbs Creek .............................. None ........ +436 Caswell County (Unincor- porated Areas). Approximately 1.5 miles upstream of the confluence None ........ +495 with Cobbs Creek. Country Line Creek ............. Approximately 0.6 mile downstream of Broad Street ..... None ........ +377 Caswell County (Unincor- porated Areas), Town of Milton, Town of Yanceyville. Approximately 1.4 miles upstream of Camp Springs None ........ +603 Road (SR 1146). Tributary 1 .................... At the confluence with Country Line Creek .................... None ........ +377 Caswell County (Unincor- porated Areas), Town of Milton. Approximately 0.5 mile upstream of Doll Branch Road None ........ +461 (SR 1538). Tributary 10 .................. At the confluence with Country Line Creek .................... None ........ +426 Caswell County (Unincor- porated Areas). Approximately 0.6 mile upstream of the confluence with None ........ +447 Country Line Creek. Tributary 11 .................