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DEPARTMENT OF THE TREASURY DEPARTMENT OF THE TREASURY § 1.1297–3 Deemed sale or deemed
dividend election by a U.S. person that is
Internal Revenue Service Internal Revenue Service a shareholder of a section 1297(e) PFIC.
* * * * *
26 CFR Part 1 26 CFR Part 1 (e) * * *
(5) * * *
[TD 9339]
[TD 9360] (ii) * * *
RIN 1545–BG44 Example. * * *
(i) * * * In years 1993 and 1994, FC did
RIN 1545–BC37 not satisfy either the income or the asset test
Qualified Zone Academy Bonds;
Obligations of States and Political of section 1297(a). * * *
Guidance on Passive Foreign
Subdivisions; Correction Investment Company (PFIC) Purging * * * * *
AGENCY: Internal Revenue Service (IRS), Elections; Correction LaNita Van Dyke,
Treasury. AGENCY: Internal Revenue Service (IRS), Chief, Publications and Regulations Branch,
ACTION: Correction to final and Legal Processing Division, Associate Chief
Treasury. Counsel (Procedure and Administration).
temporary regulations. ACTION: Correcting amendment. [FR Doc. E7–20489 Filed 10–16–07; 8:45 am]
SUMMARY: This document contains a BILLING CODE 4830–01–P
SUMMARY: This document contains a
correction to final and temporary correction to final regulations (TD 9360)
regulations (TD 9339) that were that were published in the Federal
published in the Federal Register on Register on Thursday, September 27,
Friday, September 14, 2007 (72 FR DEPARTMENT OF HOMELAND
2007 (72 FR 54820) providing certain
52470) providing guidance to state and SECURITY
elections for taxpayers that continue to
local governments that issue qualified be subject to the PFIC excess
zone academy bonds and to banks, Coast Guard
distribution regime of section 1291 of
insurance companies, and other the Internal Revenue Code even though
taxpayers that hold those bonds on the 33 CFR Part 117
the foreign corporation in which they
program requirements for qualified zone own stock is no longer treated as a PFIC
academy bonds. under section 1297(a) or (e) of the Code. [CGD01–07–135]
DATES: The correction is effective
DATES: This correction is effective Drawbridge Operation Regulations;
October 17, 2007. October 17, 2007. Lake Champlain, North Hero and
FOR FURTHER INFORMATION CONTACT: Grand Isle, VT
FOR FURTHER INFORMATION CONTACT: Paul
Timothy L. Jones or Zoran Stojanovic, J. Carlino at (202) 622–3840 (not a toll-
(202) 622–3980 (not a toll-free number). free number). AGENCY: Coast Guard, DHS.
SUPPLEMENTARY INFORMATION:
SUPPLEMENTARY INFORMATION:
ACTION: Notice of temporary deviation
from regulations.
Background Background
The final and temporary regulations SUMMARY: The Commander, First Coast
The final regulations (TD 9360) that Guard District, has issued a temporary
that are the subject of this correction are are the subject of this correction are
under section 1397E of the Internal deviation from the regulation governing
under sections 1291, 1297 and 1298 of the operation of the US2 Bridge across
Revenue Code. the Internal Revenue Code. Lake Champlain, mile 91.8, between
Need for Correction Need for Correction North Hero Island and Grande Isle
As published, final and temporary (South Hero Island), Vermont. Under
As published, final regulations (TD
regulations (TD 9339) contain an error this temporary deviation the US2 Bridge
9360) contain an error that may prove to
that may prove to be misleading and is may remain in the closed position from
be misleading and is in need of
in need of clarification. October 22, 2007 through February 1,
clarification.
2008. Vessels that can pass under the
Correction of Publication List of Subjects in 26 CFR Part 1 draw without a bridge opening may do
Accordingly, the publication of the Income taxes, Reporting and so at all times. This deviation is
final and temporary regulations (TD recordkeeping requirements. necessary to facilitate bridge
9339), which was the subject of FR Doc. rehabilitation construction.
E7–18180, is corrected as follows: Correction of Publication DATES: This deviation is effective from
On page 52470, column 2, in the October 22, 2007 through February 1,
■ Accordingly, 26 CFR part 1 is
preamble, under the paragraph heading 2008.
corrected by making the following
‘‘Correction of Publication’’, last two
amendments: ADDRESSES: Materials referred to in this
lines of the fifth paragraph, the language
‘‘‘‘§ 1.1379E(m),’’ is corrected to read document are available for inspection or
PART 1—INCOME TAXES copying at the First Coast Guard
‘‘§ 1.1379E—1T(m).’’’’ is corrected to
read ‘‘‘‘§ 1.1397E(m),’’ is corrected to Paragraph 1. The authority citation District, Bridge Branch Office, 408
read ‘‘§ 1.1397E–1T(m).’’’’. for part 1 continues to read, in part, as Atlantic Avenue, Boston,
follows: Massachusetts, 02110, between 7 a.m.
cprice-sewell on PROD1PC66 with RULES
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Federal Register / Vol. 72, No. 200 / Wednesday, October 17, 2007 / Rules and Regulations 58759
FOR FURTHER INFORMATION CONTACT: John SUMMARY: The Commander, Eighth In accordance with 33 CFR 117.35(e),
McDonald, Project Officer, First Coast Coast Guard District, has issued a the drawbridge shall return to its regular
Guard District, at (617) 223–8364. temporary deviation from the regulation operating schedule immediately at the
SUPPLEMENTARY INFORMATION: The US2 governing the operations of the Clinton end of the designated time period. This
Bridge, across Lake Champlain, mile Railroad Drawbridge, Mile 518.0, deviation from the operating regulations
91.8, between North Hero Island and Clinton, Iowa across the Upper is authorized under 33 CFR 117.35.
Grand Isle (South Hero Island), Mississippi River. This deviation allows Dated: October 5, 2007.
Vermont, has a vertical clearance in the the bridge to open on signal if at least Roger K. Wiebusch,
closed position of 13 feet at mean high 24 hours advance notice is given from
Bridge Administrator.
lake elevation and 16 feet at mean low 12:01 a.m. December 15, 2007 until 9
a.m., March 15, 2008. The deviation is [FR Doc. E7–20494 Filed 10–16–07; 8:45 am]
lake elevation. The existing drawbridge
operation regulations are listed at 33 necessary to allow time for performing BILLING CODE 4910–15–P
Drawbridge Operation Regulations; watercraft. These interests will not be Identification No. EPA–R04–OAR–
Upper Mississippi River, Clinton, IA significantly impacted due to the 2005–KY–0004. All documents in the
AGENCY: Coast Guard, DHS. reduced navigation in winter months. docket are listed on the
This temporary deviation has been www.regulations.gov Web site. Although
ACTION:Notice of deviation from
coordinated with waterway users. No listed in the index, some information is
drawbridge regulation.
objections were received. not publicly available, i.e., Confidential
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