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The Office of the United States Trade Representative (USTR) has decided that Italy's Digital Services Tax (DST) is unfair and targets U.S. companies negatively, making it eligible for action under Section 301 of the Trade Act. The tax affects businesses that earn a significant amount of revenue from digital services in Italy, and the USTR believes it unfairly discriminates against U.S. digital companies and is inconsistent with international tax principles. Over 380 comments were submitted during the investigation, and further proceedings will determine what actions to take.

The U.S. Fish and Wildlife Service is proposing a rule to designate critical habitat for four distinct population segments of the foothill yellow-legged frog in California under the Endangered Species Act. This proposal outlines the locations and features necessary for the conservation of this frog species, covering around 760,071 acres. The proposal also considers potential impacts on land use, such as economic and national security concerns, as well as existing conservation plans. Public comments are invited until March 17, 2025, with requests for a public hearing due by February 28, 2025.

The Office of Natural Resources Revenue (ONRR) has issued a final rule that updates regulations on how oil, gas, and coal are valued for royalty purposes from Federal and Indian leases, and how civil penalties for certain violations are assessed. The rule reintroduces the option for gas lessees to use an index-based valuation method, removes some limitations on transportation and processing allowances, and clarifies definitions and procedures for valuation. It also explains that civil penalties for payment violations will be assessed more transparently, considering the monetary impact of the violation, and clarifies how ONRR considers mitigating and aggravating circumstances, aiming to increase transparency and fairness.

The Farm Credit System Insurance Corporation (FCSIC) has issued a final rule addressing adjustments to civil money penalties (CMPs), in compliance with the 2015 amendments to the Federal Civil Penalties Inflation Adjustment Act of 1990. These adjustments ensure that penalties remain effective as a deterrent by accounting for inflation, with new amounts applying from January 15, 2025, for any conduct from November 2, 2015, onward. The updated penalty for violations under section 5.65(c) or (d) of the Farm Credit Act is $264 per day. This rule bypasses standard procedure for public comment due to statutory requirements.

The proposed rule by the U.S. Customs and Border Protection (CBP) under the Department of Homeland Security mandates that rail carriers electronically submit export manifest data for trains leaving the U.S. This new regulation aims to enhance cargo security by requiring pre-departure information through the Automated Commercial Environment (ACE), improving risk assessment, and ensuring compliance with U.S. export laws. The rule also outlines the parties eligible to submit data and specifies timelines for data submissions to minimize the risk of undocumented and potentially hazardous cargo leaving the country. Additionally, the economic analysis suggests that the regulation could result in significant cost savings for both CBP and the trade industry by streamlining the export process and reducing reliance on paper documentation.

The Environmental Protection Agency (EPA) is proposing new rules for the use of certain chemical substances under the Toxic Substances Control Act (TSCA). These rules, known as Significant New Use Rules (SNURs), require entities to notify EPA at least 90 days before starting activities considered significant new uses of these chemicals. The EPA will then assess these uses for potential risks. The proposed rules aim to ensure new chemical substances are safely manufactured and processed, protecting human health and the environment.

The U.S. Fish and Wildlife Service is proposing to establish critical habitat for the San Francisco Bay-Delta distinct population of the longfin smelt, a fish found in California's San Francisco Bay estuary. This includes approximately 91,630 acres of land to help conserve the species under the Endangered Species Act. The proposal outlines specific water conditions and habitat requirements needed for the smelt's survival. Public comments and economic analysis on the proposal are sought before finalizing the critical habitat designation.

The U.S. Fish and Wildlife Service is proposing to classify the monarch butterfly as a threatened species under the Endangered Species Act. They aim to designate critical habitat areas, particularly in California, to protect these butterflies. Additionally, they plan to allow certain activities, like habitat restoration and conservation efforts, even if they might unintentionally harm some butterflies. Public comments on the proposal will be accepted until March 12, 2025, and informational meetings are scheduled to discuss the details further.

The Department of Commerce, through the Census Bureau, is seeking public feedback on its plan to continue the Quarterly Financial Report (QFR) program. This program collects data on the financial status of U.S. corporations, targeting those in manufacturing, mining, and several other sectors. The collected information is crucial for economic analysis and requires the involvement of businesses with significant assets. Comments on the proposed information collection, which aims to minimize the burden on respondents, can be submitted until March 26, 2021.

The U.S. Securities and Exchange Commission (SEC) has finalized amendments to improve financial disclosure requirements under Regulation S-K. These changes remove the need for companies to provide Selected Financial Data and streamline the need to disclose Supplementary Financial Information. Additionally, they update the Management's Discussion & Analysis of Financial Condition and Results of Operations (MD&A) rules to make financial statements more transparent and less repetitive. The goal is to help investors by making disclosures clearer and to reduce compliance difficulties for companies.