Income Tax; Allocation of Interest Expense Among

Official source: Federal Register (GovInfo) (https://www.govinfo.gov/content/pkg/FR-1997-07-28/pdf/97-19702.pdf), retrieved 2026-10-03. U.S. Government work (17 U.S.C. § 105).

Federal Register / Vol. 62, No. 144 / Monday, July 28, 1997 / Rules and Regulations 40269

Issued in Renton, Washington, on July 21, 1997. D. L. Riggin, Acting Manager, Transport Airplane Directorate, Aircraft Certification Service.

[FR Doc. 97–19599 Filed 7–25–97; 8:45 am]

BILLING CODE 4910–13–U

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8145]

Income Tax; Allocation of Interest Expense Among Expenditures; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correcting amendment.

FOR FURTHER INFORMATION CONTACT: John Fischer, (202) 622–4950, (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

The temporary regulations that are the subject of this correction are under section 163 of the Internal Revenue Code.

Need for Correction

As published, temporary regulations (TD 8145) contains an error which may prove to be misleading and is in need of clarification.

List of Subjects in 26 CFR Part 1

Income taxes, Reporting and recordkeeping requirements.

Correcting Amendment to Regulations

Accordingly, 26 CFR part 1 is corrected by making the following correcting amendment:

PART 1—INCOME TAXES

Paragraph 1 . The authority citation for part 1 continues to read in part as follows:

Authority: 26 U.S.C. 7805 * -
§ 1.163–8T [Corrected] Par. 2 . In § 1.163–8T, paragraph (e) immediately following Example (2) in paragraph (c)(2)(iii) is redesignated as paragraph (c)(3) to read as follows:

Federal Aviation Regulations (14 CFR part 39) as follows:

PART 39—AIRWORTHINESS DIRECTIVES

The authority citation for part 39 continues to read as follows:

Authority: 49 U.S.C. 106(g), 40113, 44701.

§ 39.13 [Amended]

Section 39.13 is amended by adding the following new airworthiness directive:

97–16–01 British Aerospace Regional Aircraft [Formerly Jetstream Aircraft Limited, British Aerospace (Commercial Aircraft) Limited]: Amendment 39– 10090. Docket 97–NM–137–AD. Applicability: Jetstream Model 4101 airplanes, constructors numbers 41004 through 41099 inclusive, certificated in any category.

Note 1: This AD applies to each airplane identified in the preceding applicability provision, regardless of whether it has been otherwise modified, altered, or repaired in the area subject to the requirements of this AD. For airplanes that have been modified, altered, or repaired so that the performance of the requirements of this AD is affected, the owner/operator must request approval for an alternative method of compliance in accordance with paragraph (d) of this AD. The request should include an assessment of the effect of the modification, alteration, or repair on the unsafe condition addressed by this AD; and, if the unsafe condition has not been eliminated, the request should include specific proposed actions to address it.

Compliance: Required as indicated, unless accomplished previously.

To detect and correct fatigue-related cracking in the shear cleats of the roller guide structural support of the passenger door, which could result in structural failure of the passenger door, and consequent rapid depressurization of the airplane or loss of the passenger door while the airplane is in flight, accomplish the following:

(a) Except as provided by paragraph (b) of this AD: Prior to the accumulation of 6,000 landings, or within 60 days after the effective date of this AD, whichever occurs later, perform a detailed visual inspection to detect cracks of the shear cleats of the roller guide structural support of the passenger door, in accordance with Part 1 of the Accomplishment Instructions of Jetstream Alert Service Bulletin J41–A52–043, Revision 2, dated May 6, 1997. Repeat the detailed visual inspection, as specified in Part 2 of the Accomplishment Instructions of the alert service bulletin, thereafter at intervals not to exceed 1,500 landings.

Note 2: Accomplishment of the initial detailed visual inspection prior to the effective date of this AD in accordance with Jetstream Alert Service Bulletin J41–52–043, dated March 14, 1997, or Revision 1, dated April 11, 1997, is considered acceptable for compliance with the initial inspection required by paragraph (a) of this AD.

(1) If one cracked shear cleat is detected, and the crack is greater than 0.50 inches, prior to further flight, replace the cracked shear cleat with a new shear cleat in accordance with the alert service bulletin.

(2) If one cracked shear cleat is detected, and the crack is less than or equal to 0.50 inches, within 170 landings following accomplishment of the inspection required by this paragraph, replace the cracked shear cleat with a new shear cleat in accordance with the alert service bulletin.

(3) If more than one cracked shear cleat is detected, but no single crack is greater than 0.50 inches in length, prior to further flight, replace all cracked shear cleats with new shear cleats, in accordance with the alert service bulletin.

(b) For airplanes on which all shear cleats have been replaced: Inspect as required by paragraph (a) of this AD, prior to the accumulation of 6,000 total landings on the highest time new shear cleat, or within 60 days after the effective date of this AD, whichever occurs later. Repeat the detailed visual inspection thereafter at intervals not to exceed 1,500 landings.

(c) Modification of the passenger door (i.e. Modification No. JM41576) in accordance with Jetstream Service Bulletin J41–52–050, dated May 6, 1997, constitutes terminating action for the repetitive inspection requirements of paragraphs (a) and (b) of this AD.

(d) An alternative method of compliance or adjustment of the compliance time that provides an acceptable level of safety may be used if approved by the Manager, Standardization Branch, ANM–113, FAA, Transport Airplane Directorate. Operators shall submit their requests through an appropriate FAA Principal Maintenance Inspector, who may add comments and then send it to the Manager, Standardization Branch, ANM–113.

Note 3: Information concerning the existence of approved alternative methods of compliance with this AD, if any, may be obtained from the Standardization Branch, ANM–113.

(e) Special flight permits may be issued in accordance with sections 21.197 and 21.199 of the Federal Aviation Regulations (14 CFR 21.197 and 21.199) to operate the airplane to a location where the requirements of this AD can be accomplished.

(f) The inspections shall be done in accordance with Jetstream Alert Service Bulletin J41–A52–043, Revision 2, dated May 6, 1997. The modification shall be done in accordance with Jetstream Service Bulletin J41–52–050, dated May 6, 1997. This incorporation by reference was approved by the Director of the Federal Register in accordance with 5 U.S.C. 552(a) and 1 CFR part 51. Copies may be obtained from AI(R) American Support, Inc., 13850 Mclearen Road, Herndon, Virginia 20171. Copies may be inspected at the FAA, Transport Airplane Directorate, 1601 Lind Avenue, SW., Renton, Washington; or at the Office of the Federal Register, 800 North Capitol Street, NW., suite 700, Washington, DC. (g) This amendment becomes effective on August 12, 1997.

SUMMARY: This document contains a correction to temporary regulations (TD 8145), which were published in the Federal Register on Thursday, July 2, 1987 (52 FR 24996) relating to the allocation of interest expense among a taxpayer’s expenditures.

EFFECTIVE DATE: July 2, 1987.

40270 Federal Register / Vol. 62, No. 144 / Monday, July 28, 1997 / Rules and Regulations

§ 1.163–8T Allocation of interest expense among expenditures (temporary).

- - - (c) * - (3) Allocation of debt; proceeds not disbursed to borrower—(i) Third-party financing . * -
- - - Cynthia E. Grigsby, Chief, Regulations Unit, Assistant Chief Counsel (Corporate).

[FR Doc. 97–19702 Filed 7–25–97; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[TD 8718]

RIN 1545–AS49

Arbitrage Restrictions on Tax-Exempt Bonds; Correction

On page 25505, column 3, in the preamble, under the paragraph heading ‘‘ F. Effective Dates ’’, the last line, the language ‘‘issued before July 8, 1997.’’ is corrected to read ‘‘sold before July 8, 1997.’’. Cynthia E. Grigsby, Chief, Regulations Unit, Assistant Chief Counsel (Corporate).

[FR Doc. 97–19815 Filed 7–25–97; 8:45 am]

BILLING CODE 4830–01–U

DEPARTMENT OF JUSTICE

Parole Commission

28 CFR Part 2

Paroling, Recommitting, and Supervising Federal Prisoners: Transfer Treaty Cases

AGENCY: United States Parole Commission, Justice.

ACTION: Final rule; correction.

Dated: July 21, 1997. Michael J. Gaines, Chairman, U.S. Parole Commission.

[FR Doc. 97–19708 Filed 7–25–97; 8:45 am]

BILLING CODE 4410–01–P

DEPARTMENT OF TRANSPORTATION

Coast Guard

33 CFR Part 164

[CGD 97–034]

RIN 2115–AF46

Radar Requirements for Towing Vessels 300 Gross Tons or More

AGENCY: Coast Guard, DOT.

ACTION: Final rule.

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to final regulations.

SUMMARY: This document contains corrections to final regulations (TD 8718) which were published in the Federal Register on Friday, May 9, 1997 (62 FR 25502). The final regulations relate to arbitrage and related restrictions applicable to tax-exempt bonds issued by State and local governments.

SUMMARY: U.S. Parole Commission is correcting its regulation concerning prisoners transferred pursuant to a treaty to remove one redundant word. The intended effect is to improve the clarity of the regulation. The Parole Commission is also correcting the regulation to reflect the reduction in the number of hearing officers necessary to conduct a parole hearing. The reduction was originally made in the final rule published on July 25, 1996 (61 FR 38569).

SUMMARY: On July 3, 1996, the Coast Guard published a final rule requiring certain towing vessels of 12 meters (39.4 feet) or more in length, operating in the navigable waters of the United States other than the St. Lawrence Seaway, to be equipped with a marine radar. This final rule included a provision requiring, in some cases, towing vessels of 300 tons gross tonnage or more to have a radar that is azimuth stabilized. This requirement is scheduled to go into effect on August 2, 1997. Following issuance of the final rule, the Coast Guard received comments expressing concern about the need for and the expense of this requirement on vessels operating on inland routes. After reviewing this requirement with respect to towing vessels on inland waters, the Coast Guard is issuing a final rule which revises the radar requirement for a towing vessel of 300 tons gross tonnage or more engaged in towing on Western rivers and U.S. navigable waters other than Western rivers.

DATES: This correction is effective May 9, 1997.

EFFECTIVE DATE: July 28, 1997.

FOR FURTHER INFORMATION CONTACT: David White, (202) 622–3980 (not a tollfree number).

SUPPLEMENTARY INFORMATION:

Background

The final regulations that are the subject of these corrections are under section 148 of the Internal Revenue Code.

Need for Correction

As published, the final regulations (TD 8718) contain errors that may prove to be misleading and are in need of clarification.

Correction of Publication

Accordingly, the publication of final regulations (TD 8718) which are the subject of FR Doc. 97–12062 is corrected as follows:

On page 25505, column 3, in the preamble, under the paragraph heading ‘‘ F. Effective Dates ’’, line 2, the language ‘‘effective for bonds issued on or after’’ is corrected to read ‘‘effective for bonds sold on or after’’.

FOR FURTHER INFORMATION CONTACT: Pamela A. Posch, Office of General Counsel, U.S. Parole Commission, 5550 Friendship Blvd., Chevy Chase, Maryland 20815, telephone (301) 492– 5959.

List of Subjects in 28 CFR Part 2

Administrative practice and procedure, Probation and parole.

Accordingly, 28 CFR Part 2 is amended as follows:

PART 2—[AMENDED]

The authority citation for 28 CFR Part 2 continues to read as follows:

Authority: 18 U.S.C. 4203(a)(1) and 4204(a)(6).

§ 2.62 [Amended] 2. Section 2.62(a)(6) is amended in the second sentence by removing the word ‘‘set’’ the second time it appears.

In § 2.62, in paragraph (h)(5), remove the words ‘‘the panel’’ in each place they occur, and add the words ‘‘the examiner’’ in their place.

DATES: This rule is effective on July 28, 1997.

Regulatory History

The regulatory history for this rulemaking is recounted in the preamble of the final rule entitled ‘‘Navigation

ADDRESSES: Documents as indicated in this preamble are available for inspection or copying at the office of the Executive Secretary, Marine Safety Council (G–LRA/3406), U.S. Coast Guard Headquarters, 2100 Second Street SW., Washington, DC 20593–0001, between 9:30 a.m. and 2 p.m., Monday through Friday, except Federal holidays. The telephone number is 202–267– 1477.

FOR FURTHER INFORMATION CONTACT: Mr. Edward LaRue, Navigation Rules Division (G–MOV–3), 202–267–0416.