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The U.S. Department of Energy has finalized new rules amending the test procedures for central air conditioners and heat pumps, incorporating updated industry standards. The changes include adding new cooling and heating efficiency measures, SCORE and SHORE, which factor in energy use during off modes. The rule updates various testing standards and clarifies the requirements for systems like dual-fuel heat pumps and those using newer refrigerants. These rules aim to provide more accurate efficiency ratings without increasing testing costs for manufacturers.

The U.S. Fish and Wildlife Service has listed the Peñasco least chipmunk, a mammal found in New Mexico, as an endangered species under the Endangered Species Act. Approximately 4,386 acres in Lincoln County, New Mexico, have been designated as critical habitat for the chipmunk. This decision aims to provide protections against threats such as habitat loss, disease, and small population size. Certain areas, including parts managed by the Mescalero Apache Tribe, have been excluded from the critical habitat designation to maintain effective partnerships and recognize tribal management of their lands.

The final regulations in the Federal Register address the rules around Passive Foreign Investment Companies (PFICs) and the conditions under which a foreign corporation can be considered a Qualified Insurance Corporation (QIC). These regulations, which provide clarity on the treatment of income and assets for PFICs, introduce specific tests such as the 25% test for qualifying as a QIC. They emphasize that a corporation's insurance liabilities must exceed a certain percentage of its total assets to qualify for certain exceptions. The regulations also aim to prevent tax avoidance strategies and increase compliance by setting out guidelines for how passive income and insurance assets should be evaluated.

The Rural Housing Service (RHS), part of the U.S. Department of Agriculture, proposes changes to the Single-Family Housing Self-Help Technical Assistance Grant Program to improve flexibility, reduce regulatory burdens, and better serve rural communities by providing more decent, safe, and sanitary housing options. The proposed rule includes updates to outdated references, revises program objectives, and suggests changes to processes like grant application and approval, aiming to streamline various aspects for applicants and grant recipients. The RHS seeks public comments on these changes to ensure they align with the program’s mission and do not impose unnecessary burdens.

The Department of Justice has issued a final rule to implement Executive Order 14117, which aims to prevent certain countries or individuals from accessing sensitive personal and government-related data of Americans. This rule identifies specific data transactions that are either prohibited or restricted due to national security risks posed by foreign interests. The regulation outlines prohibited data transactions and establishes procedures to authorize or restrict them through licensing. It aims to protect U.S. national security by limiting access to sensitive data by countries considered to be a threat.

The Environmental Protection Agency (EPA) proposes to partially waive the 2024 cellulosic biofuel volume requirement in the Renewable Fuel Standard (RFS) program due to a shortfall in its production. The plan suggests reducing the requirement to 0.88 billion Renewable Identification Numbers (RINs) from the initial 1.09 billion. Additionally, the proposal requests feedback on whether to consider this reduction using both the general and cellulosic waiver authorities. The EPA also aims to extend the compliance deadline to accommodate refiners and blenders adjusting to revised requirements and proposes minor revisions to regulations regarding biogas in the RFS program.

The Department of Labor has issued a notice regarding a proposed exemption for certain prohibited transaction restrictions relating to Goldman Sachs. This exemption, if granted, would allow certain entities affiliated with Goldman Sachs to continue engaging in activities normally restricted by the Employee Retirement Income Security Act (ERISA), despite Goldman Sachs Malaysia's conviction under the Foreign Corrupt Practices Act. The exemption is proposed to last five years, and public comments are invited until February 10, 2021. The measures aim to protect affected plans and ensure compliance with specific conditions during the exemption period.

The Department of Homeland Security (DHS) has finalized a rule that changes how it selects H-1B visa petitions submitted by employers. This new rule prioritizes selecting petitions based on the highest wage level offered for the job, rather than through a random lottery system. By ranking potential H-1B workers based on their salary offers, DHS aims to ensure that visas are more likely to go to highly skilled workers filling important roles, thus supporting economic recovery and protecting U.S. workers' wages. This rule is set to take effect on March 9, 2021, and aims to better align the H-1B program with the intention of hiring more qualified and valued international employees.

The Consumer Financial Protection Bureau (CFPB) has proposed a rule to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA). This proposal aims to better regulate data brokers by clearly defining when they are considered consumer reporting agencies under the law, especially concerning sensitive personal information that could affect credit eligibility. Key aspects include ensuring consumer reports are only used for permissible purposes and preventing misuse of aggregated or de-identified data. The rule also seeks public input on these changes to enhance privacy protections and address evolving market dynamics.

The final regulations under section 1061 of the Internal Revenue Code provide guidance on recharacterizing certain long-term capital gains as short-term capital gains for partnership interests connected to the performance of substantial services. These regulations clarify definitions, provide exceptions, and establish rules for calculating recharacterized gains, including exceptions for capital interests and purchases by unrelated parties. The regulations also introduce rules for how gains are calculated when selling an API, ensuring the correct application of section 1061 to prevent tax avoidance. Additionally, the regulations impose information reporting requirements for compliance.