Search Results for keywords:"interim final rule"

The Federal Reserve System has made a correction to the definition of "eligible retained income" in its capital rule, which affects how banks calculate limits on capital distributions and bonuses. This change clarifies inconsistencies introduced by the stress capital buffer rule and aligns with definitions set in previous rules from March and October 2020. The corrected rule is effective from January 15, 2021. For more details, contact the legal team at the Federal Reserve using the provided phone numbers.

The National Highway Traffic Safety Administration (NHTSA) has issued an interim final rule in response to a petition from the Alliance for Automotive Innovation. This rule addresses when to increase the civil penalty rate for automobile manufacturers that do not meet corporate average fuel economy (CAFE) standards. The updated penalty rate will be enforced starting with the 2022 model year, unless a court decision is overturned. NHTSA has decided this rule to ensure fairness and avoid retroactive penalties, especially as manufacturers have been significantly impacted by the COVID-19 pandemic.

The Office of Hearings and Appeals (OHA) of the Department of the Interior is making changes to its regulations to improve the hearings and appeals process. These updates aim to make procedures more efficient, reflect changes in the law, and incorporate modern technology like electronic filing and case management systems. They are meant to help both the people involved in these cases and the department work more effectively, ensuring that decisions are reviewed quickly and fairly. The new regulations will be effective from February 10, 2025, and public comments on these changes can be submitted until March 11, 2025.

The Department of Justice has issued an interim final rule removing outdated regulations about how the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) handles requests for exceptions to certain federal firearms restrictions. These regulations pertained to how individuals could apply for relief from disabilities imposed by firearms laws, but since 1992, funding has been blocked for processing these individual requests. The rule also withdraws the delegation given to ATF to oversee these applications, clearing the way for a new approach in the future. Interested parties are invited to submit comments on the changes until June 18, 2025.

The U.S. Department of Energy (DOE) has issued an interim final rule to update and relocate regulations regarding other transaction (OT) agreements, which allow for flexible partnerships beyond traditional contracts. This action simplifies existing regulations by removing outdated provisions and clarifying policies, aiming to enhance the use of OT agreements for research, development, and demonstration projects. The changes seek to make it easier for nontraditional government partners, like small businesses, to participate in DOE projects. Public comments on these regulatory adjustments are invited until March 4, 2025.

The Bureau of Industry and Security, part of the U.S. Department of Commerce, is updating the Export Administration Regulations to impose new restrictions on certain biotechnology equipment. This interim final rule targets equipment, such as flow cytometers and mass spectrometers, used in advanced biotechnology, which could pose national security risks if misused. These regulations come into effect on January 16, 2025, and they also invite the public to comment on the new measures by March 17, 2025. The rule aims to prevent these technologies from being used in ways that could threaten U.S. security while still allowing for their beneficial use in fields like health and environmental science.

The document outlines an interim final rule by the U.S. Customs and Border Protection (CBP), under the Homeland Security and Treasury Departments, to implement regulations for the United States-Mexico-Canada Agreement (USMCA). This rule amends existing regulations to provide guidance on preferential tariff treatment and related customs measures for various goods, including textiles and automotive products. It establishes certification requirements for importers and manufacturers, recordkeeping responsibilities, and procedures for protests and verifications. The rule aims to ensure compliance with the new trade agreement and streamline the process for benefiting from the preferential treatment under the USMCA.

The Department of Homeland Security (DHS) has finalized a rule allowing the U.S. Immigration and Customs Enforcement (ICE) to send immigration bond-related notices electronically, provided obligors agree to this method of communication. Although no significant changes were made from an earlier interim rule, this final rule clarifies text, updates terminology, and fixes typographical errors. Commenters raised concerns about technical issues, accessibility, and fairness, particularly regarding the new Cash Electronic Bonds Online System (CeBONDS), but the rule aims to make processes more efficient and reduce mail costs. This transition to electronic service is optional, and obligors can still opt for traditional mail service.

The U.S. Small Business Administration (SBA) issued an interim final rule allowing certain businesses in the 8(a) Business Development program to extend their participation by one year due to challenges posed by the COVID-19 pandemic. This extension applies to companies in the program on March 13, 2020, as authorized by the Consolidated Appropriations Act, 2021, and the National Defense Authorization Act 2021. Firms that have left the program since March 13, 2020, can also be readmitted if they notify the SBA and confirm they still meet eligibility criteria. The rule is effective immediately, although the public can comment on the rule until March 15, 2021.