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

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

39–11097, are approved as AMOCs for the

corresponding provisions of this AD.

Issued in Renton, Washington, on July 5,

2006.

Ali Bahrami,

Manager, Transport Airplane Directorate,

Aircraft Certification Service.

[FR Doc. E6–11019 Filed 7–12–06; 8:45 am]

BILLING CODE 4910–13–P

DEPARTMENT OF COMMERCE

Bureau of Industry and Security

15 CFR Parts 740, 742, 748, 754, and

772

[Docket No. 030425102–6179–03]

RIN 0694–AC20

Mandatory Use of Simplified Network

Application Processing System

AGENCY: Bureau of Industry and

Security, Commerce.

ACTION: Proposed rule—withdrawal.

SUMMARY: The Bureau of Industry and

Security (BIS) is withdrawing a

proposed rule that would have made

use of the Simplified Network

Application Process (SNAP) mandatory

and that would have comprehensively

revised the provisions of the Export

Administration Regulations (EAR) that

govern electronic filing. BIS is

continuing to work on improvements to

its on-line application system and will

issue new rules as needed to implement

those improvements.

DATES: The proposed rule is withdrawn

as of July 13, 2006.

FOR FURTHER INFORMATION CONTACT:

William Arvin, Office of Exporter

Services, Regulatory Policy Division: email warvin@bis.doc.gov, telephone

(202) 482–2440.

SUPPLEMENTARY INFORMATION:

rwilkins on PROD1PC63 with PROPOSAL

Background

On November 12, 2003 (68 FR 64009),

the Bureau of Industry and Security

published a proposed rule that would

have required that all applications for

export licenses, reexport licenses,

license exception AGR submissions,

classification requests and encryption

review requests be submitted via a tobe-instituted revised Simplified

Network Application Process unless

certain enumerated exceptions applied,

and that would have extensively revised

the requirements for electronic filing of

certain applications (the November 2003

proposed rule). The November 2003

proposed rule would also have allowed

organizations that use the system, once

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18:46 Jul 12, 2006

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registered, to add, remove and adjust the

authority level of individual users

authorized to file applications and

notices on behalf of that organization.

The November 2003 proposed rule

would have permitted the electronic

filing of attachments, and required that

all attachments to applications and

notices be in text searchable pdf format.

The original comment period expired

on January 12, 2004, but was extended

to February 12, 2004 (69 FR 1685,

January 12, 2004). BIS received 16

comments on the proposed rule.

Although a number of commenters

generally favored expanded electronic

filing in principle, many were opposed

to the requirement that attachments be

in text searchable pdf format, generally

citing the cost of producing such

documents, particularly if the source

documents had to be scanned from poor

quality, oversized or bound originals.

Other commenters opposed making

electronic filing mandatory, and still

others, although not opposed to

mandatory electronic filing in principle,

stated that no mandatory filing rule

should be imposed until after the

improved system had been deployed

and was operating reliably.

Since the publication of the

November 2003 proposed rule, BIS has

reassessed its efforts to improve

electronic filing of license applications

and as a result of that reassessment,

determined to release improvements

and modifications to its electronic filing

system in small installments rather than

in the single complete restructuring that

the November 2003 proposed rule

contemplated. BIS may at times find it

necessary to amend the Export

Administration Regulations to conform

with some of those installments.

However, BIS has concluded that a

single rule comprehensively rewriting

the EAR provisions relating to electronic

filing as it proposed in the November

2003 proposed rule no longer is

consistent with the manner in which it

plans to modernize its electronic filling

process. In addition, BIS agrees with the

commenters to the November 2003

proposed rule who stated that any

revised electronic system should be put

into place and be operating reliably

before any rule making its use

mandatory is published.

Accordingly, BIS is withdrawing the

November 2003 proposed rule. BIS is

continuing to work on improvements to

its on-line application system and will

issue new rules as needed to implement

those improvements.

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39603

Dated: June 30, 2006.

Matthew S. Borman,

Deputy Assistant Secretary for Export

Administration.

[FR Doc. E6–11056 Filed 7–12–06; 8:45 am]

BILLING CODE 3510–33–P

DEPARTMENT OF ENERGY

Federal Energy Regulatory

Commission

18 CFR Parts 366, 367, 368, 369 and

375

[Docket No. RM06–11–000]

Financial Accounting, Reporting and

Records Retention Requirements

Under the Public Utility Holding

Company Act of 2005

Issued June 30, 2006.

AGENCY: Federal Energy Regulatory

Commission.

ACTION: Notice of Proposed Rulemaking:

Notice of agenda, panelists and

questions for July 18, 2006 Technical

Conference.

SUMMARY: On April 21, 2006, the

Federal Energy Regulatory Commission

issued a Notice of Proposed Rulemaking

in the above-docketed proceeding

concerning Financial Accounting,

Reporting and Records Retention

Requirements Under the Public Utility

Holding Company Act of 2005, 71 FR

28464, May 16, 2006. The Commission

is convening a technical conference on

July 18, 2006, to identify issues

associated with the proposed Uniform

System of Accounts for Centralized

Service Companies, the proposed

records retention requirements for

holding companies and service

companies, and the Revised Form 60.

By this notice, the Commission is

providing the agenda, panelists and a

list of questions that will be addressed

by the panelists at this conference.

DATES: Conference will be held on July

18, 2006.

FOR FURTHER INFORMATION CONTACT: Julia

A. Lake (Legal Information), Office of

the General Counsel—Energy Markets,

Federal Energy Regulatory Commission,

888 First Street, NE., Washington, DC

20426. Telephone: (202) 502–8370. Email: julia.lake@ferc.gov.

SUPPLEMENTARY INFORMATION:

Notice of Agenda, Panelists and

Questions

As announced on April 21 and June

16, 2006, the Federal Energy Regulatory

Commission (Commission) will hold a

technical conference and workshop in

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rwilkins on PROD1PC63 with PROPOSAL

39604

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

the above-referenced proceeding on July

18, 2006, in the Commission Meeting

Room. The meeting will begin at 9 a.m.

(Eastern Daylight Savings Time) and

conclude at approximately 1:30 p.m. All

interested persons are invited to attend.

There is no registration fee to attend this

conference.

Nine comments were filed in response

to the proposed Uniform System of

Accounts for Centralized Service

Companies, the proposed records

retention requirements for holding

companies and service companies, and

the revised FERC Form No. 60.1 These

comments raise a number of issues. We

request that the panel members address

the following issues raised by

commentors:

1. Is a separate Uniform System of

Accounts necessary for service

companies?

2. Are the proposed accounting and

reports too burdensome to comply with?

What parts cause the most burden?

3. Should a structured reporting

format be required for service

companies?

4. If a separate Uniform System of

Accounts and structured reports are

adopted, what are the most significant

modifications to what was proposed in

the NOPR that should be considered?

5. What should the effective date be

for the new requirements?

Transcripts of the meeting will be

available immediately for a fee from Ace

Reporting Company ((202) 347–3700 or

1–(800) 336–6646). They will be

available for free on the Commission’s

eLibrary system and on the events

calendar about two weeks after the

conference. There will be open

microphones for conference attendees to

present their questions to the panelists

and Commission staff.

FERC conferences and meetings are

accessible under section 508 of the

Rehabilitation Act of 1973. For

accessibility accommodations, please

send an e-mail to accessibility@ferc.gov

or call toll free (866) 208–3372 (voice)

or (202) 502–8659 (TTY), or send a fax

to (202) 208–2106 with the required

accommodations.

Attached is the agenda, including the

panelists who will speak at the

conference.

Questions about the conference

should be directed to: Julia A. Lake,

Office of the General Counsel, Federal

Energy Regulatory Commission, 888

1 Financial Accounting, Reporting and Records

Retention Requirements under the Public Utility

Holding Company Act of 2005, Notice of Proposed

Rulemaking, 71 FR 28464 (May 16, 2006), FERC

Statutes and Regulations ¶ 32,600 (2006).

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18:46 Jul 12, 2006

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First Street, NE., Washington, DC 20426.

(202) 502–8370. Julia.lake@ferc.gov.

Magalie R. Salas,

Secretary.

9–9:10 a.m. Introductory Remarks by

Susan Court, Director, Office of

Enforcement (OE).

9:10–9:20 a.m. Overview by Janice

Garrison Nicholas, Director,

Division of Financial Regulation,

Office of Enforcement.

9:15–11 a.m. Association and Industry

Panel.

Panelists:

—Henri Bartholomot—Director,

Regulatory Legal Issues, Edison

Electric Institute.

—David Stringfellow—Director of

Accounting, Edison Electric

Institute.

—Kathleen McNulty-Kropp—

Manager, Regulatory Accounting

Policy and Reporting, Xcel Energy

Inc. for Edison Electric InstituteWilliam Richert—Assistant

Controller, National Grid USA.

—Sandra Bennett—Assistant

Controller, American Electric

Power, Inc.

—Beverly M. Holmes—Director of

Accounting, Southern Company

Services, Inc.

11–11:15 a.m. Break.

11:15 a.m.–1 p.m. State Commissions

and Other Interest Groups Panel.

Panelists:

—Thomas J. Ferris—Audit ManagerConsultant, Gas and Energy

Division, Public Service

Commission of Wisconsin.

—Joseph Buckley—Utility Specialist,

Public Utilities Commission of

Ohio.

—James Mitchell—Supervisor, Utility,

Accounting and Finance, New York

State Public Service Commission.

—Steven Ruppel—Contract

Compliance Audit Manager, Florida

Municipal Power Agency.

1–1:15 p.m. Wrap up Questions and

Answers.

1:15–1:30 p.m. Concluding Remarks.

[FR Doc. E6–11001 Filed 7–12–06; 8:45 am]

BILLING CODE 6717–01–P

Frm 00012

Fmt 4702

Internal Revenue Service

26 CFR Part 1

Agenda for Financial Accounting,

Reporting and Records Retention

Requirements Under PUHCA 2005

Technical Conference—July 18, 2006

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DEPARTMENT OF THE TREASURY

Sfmt 4702

[REG–118897–06]

RIN 1545–BF67

United States Dollar Approximate

Separate Transactions Method

AGENCY: Internal Revenue Service (IRS),

Treasury.

ACTION: Notice of proposed rulemaking.

SUMMARY: This document contains a

proposed regulation which provides the

translation rates that must be used when

translating into dollars certain items and

amounts transferred by a qualified

business unit (QBU) to its home office

or parent corporation for purposes of

computing dollar approximate separate

transactions method (DASTM) gain or

loss.

DATES: Written or electronic comments

and requests for a public hearing must

be received by October 11, 2006.

ADDRESSES: Send submissions to:

CC:PA:LPD:PR (REG–118897–06), room

5203, Internal Revenue Service, PO Box

7604, Ben Franklin Station, Washington,

DC 20044. Submissions may be handdelivered Monday through Friday

between the hours of 8 a.m. and 4 p.m.

to CC:PA:LPD:PR (REG–118897–06),

Courier’s Desk, Internal Revenue

Service, 1111 Constitution Avenue,

NW., Washington, DC, or sent

electronically, via the IRS Internet site

at http://www.irs.gov/regs or via the

Federal eRulemaking Portal at http://

www.regulations.gov (IRS REG–118897–

06).

FOR FURTHER INFORMATION CONTACT:

Concerning the proposed regulations,

Sheila Ramaswamy, at (202) 622–3870;

concerning submissions of comments,

Richard Hurst@irscounsel.treas.gov,

(202) 622–7180 (not toll-free numbers).

SUPPLEMENTARY INFORMATION:

Background

Generally, a taxpayer and each of its

qualified business units (QBUs) must

make all determinations under subtitle

A of the Internal Revenue Code in its

respective functional currency. See

§ 1.985–1(a)(1). For taxable years

beginning after August 24, 1994, a U.S.

corporation’s QBU that would otherwise

be required to use a hyperinflationary

currency as its functional currency

generally must use the dollar as its

functional currency and must compute

income or loss under the DASTM

method of accounting described in

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