Search Results for keywords:"exemption"

Sonoma-Marin Area Rail Transit District (SMART), a Class III rail carrier, has filed for an exemption to acquire and operate an 87.65-mile rail line from North Coast Railroad Authority (NCRA) in California. The transaction allows SMART to be the freight operator using a noncarrier contract operator and is expected to be completed on or after March 4, 2021. SMART assures that its annual revenues from the deal will not exceed $5 million and that there are no agreements limiting future connections with other carriers. This transaction is mostly exempt from environmental and historic preservation reviews.

The Securities and Exchange Commission (SEC) is considering a proposed rule change by the New York Stock Exchange (NYSE) to exempt closed-end funds registered under the Investment Company Act of 1940 from having to hold annual shareholder meetings. The proposed rule change was published in the Federal Register on July 9, 2024, for public comment, and the SEC has extended the decision deadline to March 6, 2025, to allow more time for consideration. This extension allows the SEC to evaluate the proposed rule change thoroughly, the feedback received, and make an informed decision on whether to approve or disapprove it.

The U.S. Nuclear Regulatory Commission (NRC) issued an exemption for Constellation Energy Generation, LLC, allowing them to submit a renewal application for their Clinton Early Site Permit (ESP-001) no later than 45 days before the permit expires, instead of the usual 12 months. This change is purely a scheduling adjustment and does not impact public health and safety, site security, or the environment. The NRC determined that the exemption is legally authorized and meets all necessary safety and regulatory standards, ensuring that there are no significant hazards or environmental impacts from the extension. The exemption becomes effective immediately upon issuance.

The Federal Motor Carrier Safety Administration (FMCSA) has granted Coffeyville Resources Crude Transportation an exemption to use a new lighting technology from Intellistop, which causes brake lights to pulse when the brakes are applied. This exemption, effective from April 16, 2025, to April 16, 2030, allows Coffeyville to install these modules on certain commercial vehicles to increase their visibility and reduce rear-end crashes. FMCSA determined that this technology could enhance safety and has set specific conditions for the exemption, including limits on the number of vehicles affected and requirements for regular reporting and inspection to monitor the exemption's safety impact.

Santa Maria Valley Railroad, LLC (SMVR), which is not currently a rail carrier, plans to acquire and operate two rail lines in Santa Barbara County, California. They intend to: (1) buy a line from Coast Belle Rail, LLC, and (2) take over the operation of another line leased from Union Pacific Railroad Company. This change means that SMVR will take over from Coast Belle as the common carrier, but their revenues are expected to remain under $5 million. The transaction is anticipated to start on or after April 12, 2025, and is exempt from certain environmental and historic preservation reviews.

The Federal Motor Carrier Safety Administration (FMCSA) is considering an application from DISA Entertainment Compliance Solutions (DECS) to renew its exemption from the rule that requires a full query of the Drug and Alcohol Clearinghouse before hiring commercial drivers. Instead, DECS would perform a limited query first, which only checks if there is information about the driver in the system without revealing specific details. If something is flagged, a full query is necessary before the driver can be hired for jobs at entertainment production sites. Public comments on this renewal application are requested by April 24, 2025.

The Securities and Exchange Commission (SEC) received an application from Columbia Funds Series Trust and Columbia Management Investment Advisers, LLC for an exemption from specific requirements under the Investment Company Act of 1940. The exemption would allow the Trusts' board of trustees to approve changes to sub-advisory agreements without holding in-person meetings, which can be costly and impractical. Instead, these meetings could be conducted using technology that allows board members to communicate simultaneously. The goal is to enable the Trusts to respond more efficiently to changes in the market or to adjust investment strategies without unnecessary delays.

The Securities and Exchange Commission (SEC) announced a notice regarding an application under the Investment Company Act of 1940. The application, filed by The RBB Fund Trust and First Eagle Investment Management, LLC, seeks an exemption allowing them to enter into sub-advisory agreements without needing shareholder approval. In addition, they are also requesting relief from certain disclosure requirements concerning fees paid to subadvisers. The SEC will grant this request unless a hearing is ordered, and interested parties can request a hearing by contacting the SEC by February 24, 2025.

The U.S. Nuclear Regulatory Commission (NRC) has granted an exemption to the Tennessee Valley Authority for the Sequoyah Nuclear Plant, Unit 2. This exemption allows the plant to use less restrictive work-hour limitations than normally required for a period of 21 days between March 24, 2025, and May 15, 2025. This temporary rule change is intended to help with the completion of necessary maintenance and testing activities during an extended outage. The NRC determined that this exemption is authorized by law, will not compromise safety or security, and is in the public interest.

Willamette & Pacific Railroad, Inc. (WPRR), a Class III railroad, has filed a notice to extend and amend its lease with Union Pacific Railroad Company. The lease covers several Oregon rail line segments totaling about 161 miles. WPRR will continue as the operator and says its revenue from this transaction will not change its Class III status. The exemption's effective date depends on WPRR’s request to waive labor notice requirements; decisions will be made later.