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Federal Register / Vol. 71, No.

134 / Thursday, July 13, 2006 / Proposed Rules 39603

39–11097, are approved as AMOCs for the registered, to add, remove and adjust the Dated: June 30, 2006.
corresponding provisions of this AD. authority level of individual users Matthew S. Borman,
Issued in Renton, Washington, on July 5, authorized to file applications and Deputy Assistant Secretary for Export
2006. notices on behalf of that organization. Administration.
Ali Bahrami, The November 2003 proposed rule [FR Doc. E6–11056 Filed 7–12–06; 8:45 am]
Manager, Transport Airplane Directorate, would have permitted the electronic BILLING CODE 3510–33–P
Aircraft Certification Service. filing of attachments, and required that
[FR Doc. E6–11019 Filed 7–12–06; 8:45 am] all attachments to applications and
BILLING CODE 4910–13–P notices be in text searchable pdf format. DEPARTMENT OF ENERGY
The original comment period expired Federal Energy Regulatory
on January 12, 2004, but was extended Commission
DEPARTMENT OF COMMERCE to February 12, 2004 (69 FR 1685,
January 12, 2004). BIS received 16 18 CFR Parts 366, 367, 368, 369 and
Bureau of Industry and Security
comments on the proposed rule. 375
Although a number of commenters
15 CFR Parts 740, 742, 748, 754, and [Docket No. RM06–11–000]
772 generally favored expanded electronic
filing in principle, many were opposed Financial Accounting, Reporting and
[Docket No. 030425102–6179–03] to the requirement that attachments be Records Retention Requirements
RIN 0694–AC20 in text searchable pdf format, generally Under the Public Utility Holding
citing the cost of producing such Company Act of 2005
Mandatory Use of Simplified Network documents, particularly if the source
Application Processing System documents had to be scanned from poor Issued June 30, 2006.
quality, oversized or bound originals. AGENCY: Federal Energy Regulatory
AGENCY: Bureau of Industry and Other commenters opposed making Commission.
Security, Commerce. ACTION: Notice of Proposed Rulemaking:
electronic filing mandatory, and still
ACTION: Proposed rule—withdrawal. others, although not opposed to Notice of agenda, panelists and
mandatory electronic filing in principle, questions for July 18, 2006 Technical
SUMMARY: The Bureau of Industry and
stated that no mandatory filing rule Conference.
Security (BIS) is withdrawing a
proposed rule that would have made should be imposed until after the SUMMARY: On April 21, 2006, the
use of the Simplified Network improved system had been deployed Federal Energy Regulatory Commission
Application Process (SNAP) mandatory and was operating reliably. issued a Notice of Proposed Rulemaking
and that would have comprehensively Since the publication of the in the above-docketed proceeding
revised the provisions of the Export November 2003 proposed rule, BIS has concerning Financial Accounting,
Administration Regulations (EAR) that reassessed its efforts to improve Reporting and Records Retention
govern electronic filing. BIS is electronic filing of license applications Requirements Under the Public Utility
continuing to work on improvements to and as a result of that reassessment, Holding Company Act of 2005, 71 FR
its on-line application system and will determined to release improvements 28464, May 16, 2006. The Commission
issue new rules as needed to implement and modifications to its electronic filing is convening a technical conference on
those improvements. system in small installments rather than July 18, 2006, to identify issues
DATES: The proposed rule is withdrawn in the single complete restructuring that associated with the proposed Uniform
as of July 13, 2006. the November 2003 proposed rule System of Accounts for Centralized
FOR FURTHER INFORMATION CONTACT: contemplated. BIS may at times find it Service Companies, the proposed
William Arvin, Office of Exporter necessary to amend the Export records retention requirements for
Services, Regulatory Policy Division: e- Administration Regulations to conform holding companies and service
mail warvin@bis.doc.gov, telephone companies, and the Revised Form 60.
with some of those installments.
(202) 482–2440. By this notice, the Commission is
However, BIS has concluded that a
providing the agenda, panelists and a
SUPPLEMENTARY INFORMATION: single rule comprehensively rewriting
list of questions that will be addressed
Background the EAR provisions relating to electronic by the panelists at this conference.
filing as it proposed in the November
On November 12, 2003 (68 FR 64009), DATES: Conference will be held on July
2003 proposed rule no longer is
the Bureau of Industry and Security 18, 2006.
consistent with the manner in which it
published a proposed rule that would plans to modernize its electronic filling FOR FURTHER INFORMATION CONTACT: Julia
have required that all applications for process. In addition, BIS agrees with the A. Lake (Legal Information), Office of
export licenses, reexport licenses, commenters to the November 2003 the General Counsel—Energy Markets,
license exception AGR submissions, proposed rule who stated that any Federal Energy Regulatory Commission,
classification requests and encryption 888 First Street, NE., Washington, DC
revised electronic system should be put
review requests be submitted via a to- 20426. Telephone: (202) 502–8370. E-
into place and be operating reliably
be-instituted revised Simplified mail: julia.lake@ferc.gov.
before any rule making its use
Network Application Process unless SUPPLEMENTARY INFORMATION:
mandatory is published.
certain enumerated exceptions applied,
Notice of Agenda, Panelists and
rwilkins on PROD1PC63 with PROPOSAL

and that would have extensively revised Accordingly, BIS is withdrawing the
the requirements for electronic filing of November 2003 proposed rule. BIS is Questions
certain applications (the November 2003 continuing to work on improvements to As announced on April 21 and June
proposed rule). The November 2003 its on-line application system and will 16, 2006, the Federal Energy Regulatory
proposed rule would also have allowed issue new rules as needed to implement Commission (Commission) will hold a
organizations that use the system, once those improvements. technical conference and workshop in

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39604 Federal Register / Vol. 71, No. 134 / Thursday, July 13, 2006 / Proposed Rules

the above-referenced proceeding on July First Street, NE., Washington, DC 20426. DEPARTMENT OF THE TREASURY
18, 2006, in the Commission Meeting (202) 502–8370. Julia.lake@ferc.gov.
Room. The meeting will begin at 9 a.m. Internal Revenue Service
(Eastern Daylight Savings Time) and Magalie R. Salas,
conclude at approximately 1:30 p.m. All Secretary. 26 CFR Part 1
interested persons are invited to attend. Agenda for Financial Accounting, [REG–118897–06]
There is no registration fee to attend this Reporting and Records Retention
conference. RIN 1545–BF67
Requirements Under PUHCA 2005
Nine comments were filed in response Technical Conference—July 18, 2006
to the proposed Uniform System of United States Dollar Approximate
Accounts for Centralized Service Separate Transactions Method
9–9:10 a.m. Introductory Remarks by
Companies, the proposed records Susan Court, Director, Office of AGENCY: Internal Revenue Service (IRS),
retention requirements for holding Enforcement (OE). Treasury.
companies and service companies, and
9:10–9:20 a.m. Overview by Janice ACTION: Notice of proposed rulemaking.
the revised FERC Form No. 60.1 These
comments raise a number of issues. We Garrison Nicholas, Director,
SUMMARY: This document contains a
request that the panel members address Division of Financial Regulation,
Office of Enforcement. proposed regulation which provides the
the following issues raised by translation rates that must be used when
commentors: 9:15–11 a.m. Association and Industry translating into dollars certain items and
1. Is a separate Uniform System of Panel. amounts transferred by a qualified
Accounts necessary for service Panelists: business unit (QBU) to its home office
companies? or parent corporation for purposes of
2. Are the proposed accounting and —Henri Bartholomot—Director, computing dollar approximate separate
reports too burdensome to comply with? Regulatory Legal Issues, Edison transactions method (DASTM) gain or
What parts cause the most burden? Electric Institute. loss.
3. Should a structured reporting —David Stringfellow—Director of DATES: Written or electronic comments
format be required for service Accounting, Edison Electric and requests for a public hearing must
companies? Institute. be received by October 11, 2006.
4. If a separate Uniform System of —Kathleen McNulty-Kropp— ADDRESSES: Send submissions to:
Accounts and structured reports are Manager, Regulatory Accounting CC:PA:LPD:PR (REG–118897–06), room
adopted, what are the most significant Policy and Reporting, Xcel Energy 5203, Internal Revenue Service, PO Box
modifications to what was proposed in Inc. for Edison Electric Institute- 7604, Ben Franklin Station, Washington,
the NOPR that should be considered?
William Richert—Assistant DC 20044. Submissions may be hand-
5. What should the effective date be Controller, National Grid USA. delivered Monday through Friday
for the new requirements? between the hours of 8 a.m. and 4 p.m.
Transcripts of the meeting will be —Sandra Bennett—Assistant
Controller, American Electric to CC:PA:LPD:PR (REG–118897–06),
available immediately for a fee from Ace Courier’s Desk, Internal Revenue
Reporting Company ((202) 347–3700 or Power, Inc.
Service, 1111 Constitution Avenue,
1–(800) 336–6646). They will be —Beverly M. Holmes—Director of NW., Washington, DC, or sent
available for free on the Commission’s Accounting, Southern Company electronically, via the IRS Internet site
eLibrary system and on the events Services, Inc. at http://www.irs.gov/regs or via the
calendar about two weeks after the Federal eRulemaking Portal at http://
conference. There will be open 11–11:15 a.m. Break.
www.regulations.gov (IRS REG–118897–
microphones for conference attendees to 11:15 a.m.–1 p.m. State Commissions 06).
present their questions to the panelists and Other Interest Groups Panel.
FOR FURTHER INFORMATION CONTACT:
and Commission staff. Panelists: Concerning the proposed regulations,
FERC conferences and meetings are Sheila Ramaswamy, at (202) 622–3870;
—Thomas J. Ferris—Audit Manager-
accessible under section 508 of the concerning submissions of comments,
Rehabilitation Act of 1973. For Consultant, Gas and Energy
Division, Public Service Richard Hurst@irscounsel.treas.gov,
accessibility accommodations, please (202) 622–7180 (not toll-free numbers).
send an e-mail to accessibility@ferc.gov Commission of Wisconsin.
SUPPLEMENTARY INFORMATION:
or call toll free (866) 208–3372 (voice) —Joseph Buckley—Utility Specialist,
or (202) 502–8659 (TTY), or send a fax Public Utilities Commission of Background
to (202) 208–2106 with the required Ohio. Generally, a taxpayer and each of its
accommodations. —James Mitchell—Supervisor, Utility, qualified business units (QBUs) must
Attached is the agenda, including the Accounting and Finance, New York make all determinations under subtitle
panelists who will speak at the State Public Service Commission. A of the Internal Revenue Code in its
conference. respective functional currency. See
Questions about the conference —Steven Ruppel—Contract
Compliance Audit Manager, Florida § 1.985–1(a)(1). For taxable years
should be directed to: Julia A. Lake, beginning after August 24, 1994, a U.S.
Office of the General Counsel, Federal Municipal Power Agency.
corporation’s QBU that would otherwise
Energy Regulatory Commission, 888
rwilkins on PROD1PC63 with PROPOSAL

1–1:15 p.m. Wrap up Questions and be required to use a hyperinflationary


Answers. currency as its functional currency
1 Financial Accounting, Reporting and Records
1:15–1:30 p.m. Concluding Remarks. generally must use the dollar as its
Retention Requirements under the Public Utility
Holding Company Act of 2005, Notice of Proposed
functional currency and must compute
[FR Doc. E6–11001 Filed 7–12–06; 8:45 am] income or loss under the DASTM
Rulemaking, 71 FR 28464 (May 16, 2006), FERC
Statutes and Regulations ¶ 32,600 (2006). BILLING CODE 6717–01–P method of accounting described in

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