4909
Federal Register / Vol. 67, No. 22 / Friday, February 1, 2002 / Rules and Regulations
PART 1—INCOME TAXES
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
Authority: 26 U.S.C. 7805 * * *
Par 2. In § 1.1031(k)–1, paragraph
(k)(4) is revised to read as follows:
§ 1.1031(k)–1
Treatment of deferred
exchanges.
* 
* 
* 
* 
*
(k) * * *
(4)(i) Except as provided in paragraph
(k)(4)(ii) of this section, the person and
a person described in paragraph (k)(2) of
this section bear a relationship
described in either section 267(b) or
707(b) (determined by substituting in
each section ‘‘10 percent’’ for ‘‘50
percent’’ each place it appears).
(ii) In the case of a transfer of
relinquished property made by a
taxpayer on or after January 17, 2001,
paragraph (k)(4)(i) of this section does
not apply to a bank (as defined in
section 581) or a bank affiliate if, but for
this paragraph (k)(4)(ii), the bank or
bank affiliate would be a disqualified
person under paragraph (k)(4)(i) of this
section solely because it is a member of
the same controlled group (as
determined under section 267(f)(1),
substituting ‘‘10 percent’’ for ‘‘50
percent’ where it appears) as a person
that has provided investment banking or
brokerage services to the taxpayer
within the 2-year period described in
paragraph (k)(2) of this section. For
purposes of this paragraph (k)(4)(ii), a
bank affiliate is a corporation whose
principal activity is rendering services
to facilitate exchanges of property
intended to qualify for nonrecognition
of gain under section 1031 and all of
whose stock is owned by either a bank
or a bank holding company (within the
meaning of section 2(a) of the Bank
Holding Company Act of 1956 (12
U.S.C. 1841(a)).
* 
* 
* 
* 
*
Approved: January 25, 2002.
Robert E. Wenzel,
Deputy Commissioner of Internal Revenue.
Mark Weinberger,
Assistant Secretary of the Treasury.
[FR Doc. 02–2532 Filed 1–31–02; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF TRANSPORTATION
Coast Guard
33 CFR Part 117
[CGD08–02–001]
RIN 2115–AE47
Drawbridge Operating Regulation;
Mississippi River, Iowa and Illinois
AGENCY: Coast Guard, DOT.
ACTION: Temporary deviation.
SUMMARY: The Commander, Eighth
Coast Guard District has authorized a
temporary deviation from the regulation
governing the Sabula Railroad
Drawbridge, Mile 535.0, Upper
Mississippi River at Sabula, Iowa. This
deviation allows the drawbridge to
remain closed to navigation for 50 days
from 12:01 a.m., January 20, 2002, until
12:01 a.m., March 11, 2002. The
drawbridge shall open on signal if at
least twenty-four (24) hours advance
notice is given.
DATES: This temporary deviation is
effective from 12:01 a.m., January 20,
2002, until 12:01 a.m., March 11, 2002.
ADDRESSES: Unless otherwise indicated,
documents referred to in this notice are
available for inspection or copying at
the office of the Eighth Coast Guard
District, Bridge Administration Branch,
Commander (obr), 1222 Spruce Street,
St. Louis, MO 63103–2832. The Bridge
Administration Branch maintains the
public docket for this temporary
deviation.
FOR FUTHER INFORMATION CONTACT: Roger
K. Wiebusch, Bridge Administrator, at
(314) 539–3900, extension 378.
SUPPLEMENTARY INFORMATION: The I & M
Rail Link Railroad requested a
temporary deviation on December 20,
2001 from the drawbridge operation
regulations to allow the bridge owner
time for preventative maintenance. The
drawbridge operation regulations
require that the drawbridge open on
signal.
The Sabula Railroad Drawbridge
provides a vertical clearance of 18.1 feet
above normal pool in the closed-to-
navigation position. Navigation on the
waterway consists primarily of
commercial tows and recreational
watercraft. This deviation has been
coordinated with waterway users. There
were no objections.
This deviation allows the bridge to
remain closed to navigation from 12:01
a.m., January 20, 2002 to 12:01 a.m.,
March 11, 2002 with openings provided
upon receipt of twenty-four (24) hours
advance notice.
Dated: January 15, 2002.
Roy J. Casto,
Rear Admiral, U.S. Coast Guard, Commander,
Eighth Coast Guard District.
[FR Doc. 02–2545 Filed 1–31–02; 8:45 am]
BILLING CODE 4910–15–U
DEPARTMENT OF TRANSPORTATION
Coast Guard
33 CFR Part 165
[CGD07–01–136]
RIN 2115–AA97
Security Zones; St. Thomas, U.S.
Virgin Islands
AGENCY: Coast Guard, DOT.
ACTION: Temporary final rule.
SUMMARY: The Coast Guard is
establishing temporary security zones
50 yards around all cruise ships in the
Port of Charlotte Amalie, St. Thomas,
USVI. These security zones are needed
to protect the public and the Port of
Charlotte Amalie from potential
subversive acts. No person or vessel will
be permitted to enter or remain in these
security zones unless specifically
authorized by the Captain of the Port
San Juan, or his designated
representative.
DATES: This regulation becomes
effective at 6 p.m. on December 19, 2001
and will terminate at 11:59 p.m. on June
15, 2002.
ADDRESSES: Comments and material
received from the public, as well as
documents indicated in this preamble as
being available in the docket, are part of
[CGD07–01–136] and are available for
inspection or copying at Marine Safety
Office San Juan, RODVAL Bldg, San
Martin St. #90 Ste 400, Guaynabo, PR
00968, between 7 a.m. and 3:30 p.m.
Monday through Friday, except Federal
holidays.
FOR FURTHER INFORMATION CONTACT:
LCDR Robert Lefevers, Marine Safety
Office San Juan, Puerto Rico, at (787)
706–2440.
SUPPLEMENTARY INFORMATION:
Regulatory Information
We did not publish a notice of
proposed rulemaking (NPRM) for this
regulation. Under 5 U.S.C. 553(b)(B), the
Coast Guard finds that good cause exists
for not publishing a NPRM. Publishing
a NPRM and delaying the rule’s
effective date would be contrary to the
public interest since immediate action is
needed to protect the public, ports and
waterways of the United States. The
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Federal Register / Vol. 67, No. 22 / Friday, February 1, 2002 / Rules and Regulations
Coast Guard will issue a broadcast
notice to mariners and a Marine Safety
Information Bulletin via facsimile and
electronic mail to advise mariners of the
restriction.
For the same reasons, under 5 U.S.C.
553(d)(3), the Coast Guard finds that
good cause exists for making this rule
effective less than 30 days after
publication in the Federal Register.
Background and Purpose
Based on the September 11, 2001,
terrorist attacks on the World Trade
Center buildings in New York and the
Pentagon in Arlington, Virginia, there is
an increased risk that subversive
activity could be launched by vessels or
persons in close proximity to the Port of
Charlotte Amalie, U.S. Virgin Islands
(USVI) against cruise ships in the Port.
Due to the number of passengers
onboard cruise ships while moored in
the Port of Charlotte Amalie, USVI,
there is a risk that they are a target for
subversive activity or a terrorist attack.
The Captain of the Port San Juan is
reducing this risk by prohibiting all
vessels from coming within 50 yards of
cruise ships while entering, departing,
moored at any pier, or anchored in any
anchorage in the Port of Charlotte
Amalie, St. Thomas, USVI unless prior
authorization is given by the Captain of
the Port of San Juan. These temporary
security zones are activated when cruise
ships pass: St. Thomas Harbor green
lighted buoy #3 in approximate position
18°19′19″ North, 64°55′40″ West when
entering the port using St. Thomas
Channel; red buoy #2 in approximate
position 18°19′15″ North, 64°55′59″
West when entering the port using East
Gregorie Channel; and red lighted buoy
#4 in approximate position 18°18′16″
North, 64°57′30″ West when entering
the port using West Gregorie Channel.
These zones are deactivated when the
vessel passes any of these buoys on its
departure from port. United States Coast
Guard and territorial law enforcement
personnel will be enforcing these
security zones.
Regulatory Evaluation
This rule is not a significant
regulatory action under section 3(f) of
Executive Order 12866, Regulatory
Planning and Review, and does not
require an assessment of potential costs
and benefits under section 6(a)(3) of that
order. The Office of Management and
Budget has not reviewed it under that
order. It is not significant under the
regulatory policies and procedures of
the Department of Transportation (DOT)
(44 FR 11040; February 26, 1979)
because the zones are narrow in scope
and are only in effect for limited periods
of time when a cruise ship is in Port.
Small Entities
Under the Regulatory Flexibility Act
(5 U.S.C. 601–612), the Coast Guard
considered whether this rule would
have a significant economic effect upon
a substantial number of small entities.
‘‘Small entities’’ include small
businesses, not-for-profit organizations
that are independently owned and
operated and are not dominant in their
fields, and governmental jurisdictions
with populations of less than 50,000.
The Coast Guard certifies under 5
U.S.C. 605(b) that this rule will not have
a significant economic impact on a
substantial number of small entities
because the zones are narrow in scope
and are only in effect for limited periods
of time when a cruise ship is in Port.
Moreover, vessels may be allowed to
enter the zones on a case-by-case basis
with the permission of the Captain of
the Port of San Juan.
Assistance for Small Entities
Under section 213(a) of the Small
Business Regulatory Enforcement
Fairness Act of 1996 (Public Law 104–
121), we offer to assist small entities in
understanding the rule so that they can
better evaluate its effects on them and
participate in the rulemaking process. If
the rule will affect your small business,
organization, or government jurisdiction
and you have questions concerning its
provisions or options for compliance,
please contact the person listed under
FOR FURTHER INFORMATION CONTACT for
assistance in understanding this rule.
Small businesses may send comments
on the actions of Federal employees
who enforce, or otherwise determine
compliance with, Federal regulations to
the Small Business and Agriculture
Regulatory Enforcement Ombudsman
and the Regional Small each agency’s
responsiveness to small business. If you
wish to comment on actions by
employees of the Coast Guard, call 1–
888–REG–FAIR (1–888–734–3247).
Collection of Information
This rule calls for no new collection
of information requirements under the
Paperwork Reduction Act (44 U.S.C.
3501–3520).
Federalism
A rule has implication for federalism
under Executive Order 13132,
Federalism, if it has a substantial direct
effect on State or local governments and
would either preempt State law or
impose a substantial direct cost of
compliance on them. We have analyzed
this rule under that Order and have
determined that it does not have
implications for federalism.
Unfunded Mandates Reform Act
The Unfunded Mandates Reform Act
of 1995 (2 U.S.C. 1531–1538) requires
Federal agencies to assess the effects of
their discretionary regulatory actions. In
particular, the Act addresses actions
that may result in the expenditure by a
State, local, or tribal government, in the
aggregate, or by the private sector of
$100,000,000 or more in any one year.
Though this rule will not result in such
an expenditure, we do discuss the
effects of this rule elsewhere in this
preamble.
Taking of Private Property
This rule will not effect a taking of
private property or otherwise have
taking implications under Executive
Order 12630, Governmental Actions and
Interference with Constitutionally
Protected Property Rights.
Civil Justice Reform
This rule meets applicable standards
in sections 3(a) and 3(b)(2) of Executive
Order 12988, Civil Justice Reform, to
minimize litigation, eliminate
ambiguity, and reduce burden.
Environmental
The Coast Guard has considered the
environmental impact of this rule and
concluded that under figure 2–1,
paragraph 34(g), of Commandant
Instruction M14475.1D that this rule is
categorically excluded from further
environmental documentation. A
‘‘Categorical Exclusion Determination’’
is available in the docket for inspection
or copying where indicated under
ADDRESSES.
Protection of Children
We have analyzed this rule under
Executive Order 13045, Protection of
Children from Environmental Health
Risks and Safety Risks. This rule is not
an economically significant rule and
does not create an environmental risk to
health or risk to safety that may
disproportionately affect children.
Indian Tribal Governments
This rule does not have tribal
implications under Executive Order
13175, Consultation and Coordination
with Indian Tribal Governments,
because it does not have a substantial
direct effect on one or more Indian
tribes, on the relationships between the
Federal Government and Indian tribes,
or on the distribution of power and
responsibilities between the Federal
Government and Indian tribes.
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Federal Register / Vol. 67, No. 22 / Friday, February 1, 2002 / Rules and Regulations
Energy Effects
We have analyzed this rule under
Executive Order 13211, Actions
Concerning Regulations That
Significantly Affect Energy Supply,
Distribution, or use. We have
determined that it is not a ‘‘significant
energy action’’ under Executive Order
12866 and is not likely to have a
significant adverse effect on the supply,
distribution, or use of energy. It has not
been designated by the Administrator of
the Office of Information and Regulatory
Affairs as a significant energy action.
Therefore, it does not require a
Statement of Energy Effects under
Executive Order 13211.
List of Subjects in 33 CFR Part 165
Harbors, Marine safety, Navigation
(water), Reports and recordkeeping
requirements, Security measures,
Waterways.
For the reasons discussed in the
preamble, the Coast Guard amends 33
CFR part 165, as follows:
PART 165—REGULATED NAVIGATION
AREAS AND LIMITED ACCESS AREAS
1. The authority citation for part 165
continues to read as follows:
Authority: 33 U.S.C. 1231; 50 U.S.C. 191,
33 CFR 1.05–1(g), 6.04–1, 6.04–6, 160.5; 49
CFR 1.46.
2. A new temporary § 165.T07–136 is
added to read as follows:
§ 165.T07–136
Security Zones; Charlotte
Amalie Harbor, St. Thomas, USVI.
(a) Regulated area. Temporary moving
security zones are established 50 yards
around all cruise ships while they enter,
depart, are moored at any pier or
anchored in any anchorage in Charlotte
Amalie Harbor. These temporary
security zones are activated when cruise
ships pass: St. Thomas Harbor green
lighted buoy #3 in approximate position
18°19′19″ North, 64°55′40″ West when
entering the port using St. Thomas
Channel; red buoy #2 in approximate
position 18°19′15″ North, 64°55′59″
West when entering the port using East
Gregorie Channel; and red lighted buoy
#4 in approximate position 18°18′16″
North, 64°57′30″ West when entering
the port using West Gregorie Channel.
These zones are deactivated when the
cruise ship passes any of these buoys on
its departure from port.
(b) Regulations. In accordance with
the general regulations in § 165.33 of
this part, no person or vessel shall enter
or remain in this security zone unless
specifically authorized by the Captain of
the Port San Juan, a Coast Guard
commissioned, warrant, or petty officer
designated by him or a designated West
Indies Company Security or Virgin
Islands Port Authority Security
Manager. The Captain of the Port will
notify the public when a zone is
activated and any changes in the status
of the zones by Marine Safety Radio
Broadcast on VHF Marine Band Radio,
Channel 16 (157.1 Mhz) and by a
Marine Safety Information Bulletin
(MSIB) sent by facsimile and electronic
mail.
(c) Dates. This section becomes
effective at 6 p.m. on December 19, 2001
and will terminate at 11:59 p.m. on June
15, 2002.
Dated: December 17, 2001.
J.A. Servidio,
Commander, U.S. Coast Guard, Captain of
the Port.
[FR Doc. 02–2546 Filed 1–31–02; 8:45 am]
BILLING CODE 4910–15–P
DEPARTMENT OF TRANSPORTATION
Coast Guard
33 CFR Part 165
[CGD07–02–002]
RIN 2115–AA97
Security Zones; St. Croix, U.S. Virgin
Islands
AGENCY: Coast Guard, DOT.
ACTION: Temporary final rule.
SUMMARY: The Coast Guard is extending
the temporary fixed security zone
around all commercial tank and freight
vessels moored at every dock at the
HOVENSA refinery at St. Croix, U.S.
Virgin Islands. All persons aboard
commercial tank and freight vessels
moored at the HOVENSA docks must
remain on board for the duration of the
port call unless escorted by designated
HOVENSA personnel or specifically
permitted to disembark by the U.S.
Coast Guard Captain of the Port San
Juan. This security zone is needed for
national security reasons to protect the
public and port of HOVENSA from
potential subversive acts.
DATES: This regulation becomes
effective at 5 a.m. on January 9, 2002
and will terminate at 11:59 p.m. on June
15, 2002.
ADDRESSES: Comments and material
received from the public, as well as
documents indicated in this preamble as
being available in the docket, are part of
[CGD07–02–002] and are available for
inspection or copying at Marine Safety
Office San Juan, RODVAL Bldg, San
Martin St. #90 Ste 400, Guaynabo, PR
00968, between 7 a.m. and 3:30 p.m.
Monday through Friday, except Federal
holidays.
FOR FURTHER INFORMATION CONTACT:
LCDR Robert Lefevers, Marine Safety
Office San Juan, Puerto Rico at (787)
706–2440.
SUPPLEMENTARY INFORMATION:
Regulatory Information
We did not publish a notice of
proposed rulemaking (NPRM) for this
regulation. Under 5 U.S.C. 553(b)(B), the
Coast Guard finds that good cause exists
for not publishing a NPRM. Publishing
a NPRM and delaying the rule’s
effective date would be contrary to the
public interest since immediate action is
needed to protect the public, ports and
waterways of the United States. The
Coast Guard will issue a broadcast
notice to mariners to advise mariners of
the restriction.
For the same reasons, under 5 U.S.C.
553(d)(3), the Coast Guard finds that
good cause exists for making this rule
effective less than 30 days after
publication in the Federal Register.
Background and Purpose
Due to the highly volatile nature of
the substances stored at the HOVENSA
facility, there is a risk that subversive
activity could be launched by persons
aboard commercial tank and freight
vessels calling at the HOVENSA facility
in St Croix, USVI. The Captain of the
Port San Juan is reducing this risk by
prohibiting all persons aboard these
vessels from disembarking while
moored at the HOVENSA facility unless
escorted by designated HOVENSA
personnel or specifically permitted by
the Captain of the Port San Juan.
HOVENSA security personnel, in
conjunction with local police
department personnel, will be present to
enforce this security zone. A security
zone regulation for the same location
was published in the Federal Register
on September 28, 2001 (66 FR 49534).
However, that regulation expired at
11:59 p.m. on October 15, 2001. We
extended this security zone in CGD07–
01–125 until December 31, 2001. The
Captain of the Port San Juan has
identified the need to keep a security
zone in place for national security
reasons and to protect the public and
the port of HOVENSA from potential
subversive acts.
Regulatory Evaluation
This rule is not a significant
regulatory action under section 3(f) of
Executive Order 12866, Regulatory
Planning and Review, and does not
require an assessment of potential costs
and benefits under section 6(a)(3) of that
order. The Office of Management and
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