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Agency Rulemaking Highlights
Notable ActionsPFAS Reporting and Recordkeeping Requirements
The Environmental Protection Agency (EPA) issued a final rule establishing reporting and recordkeeping requirements for per- and polyfluoroalkyl substances (PFAS) under the Toxic Substances Control Act. The rule would require entities that manufacture or import PFAS, or those who manufactured these chemical substances in any year since 2011, to submit information to EPA on their uses, production volumes, byproducts, disposal, exposures, and existing information on environmental or health effects. Effective November 13.
Transfer of Clean Vehicle Credits
The Internal Revenue Service issued a proposed rule providing guidance on certain clean vehicle credits as established by the Inflation Reduction Act of 2022. The proposal would provide guidance for taxpayers who purchase qualifying previously-owned or new clean vehicles and intend to transfer the amount of any credit to dealers who are entities eligible to receive advance payments of either credit. The proposal would also provide guidance to dealers on becoming eligible entities to receive advance payments of credits and rules regarding recapture of the credits. Comments due December 11.
Constructing Barriers on the Southwest Border
The Secretary of Homeland Security issued a notice of determination to waive certain laws, regulations, and other legal requirements to expedite construction of physical barriers, including reinforced fencing, on the southwest border. Effective October 5.
Financial Value Transparency and Gainful Employment
The Office of Postsecondary Education has amended regulations regarding gainful employment to address concerns about educational programs designed to prepare students for employment, but leave students with high levels of student loan debt compared to their earnings. These regulations aim to enhance transparency by providing financial benefit and cost information to students at many postsecondary institutions. Effective July 1, 2024.
Accounting and Reporting Treatment of Certain Renewable Energy Assets
The Federal Energy Regulatory Commission issued a final rule amending its system of accounts for public utilities and licensees to: create new accounts for wind, solar, and other renewable generating assets; create a new functional class for energy storage accounts; codify the accounting treatment of environmental credits; and create new accounts within existing functions for computer hardware, software, and communication equipment. Effective January 1, 2025.
Energy Conservation Standards
The Office of Energy Efficiency and Renewable Energy (EERE) issued a final rule updating energy conservation standards for commercial water heating equipment. Effective December 5.
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| In the News
Governance & Politics
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Financial Markets & Housing
- The New Kings of Wall Street Aren’t Banks. Private Funds Fuel Corporate America, Wall Street Journal
- Crypto Sector Seeks Lawyers, Compliance Officers After Reputational Hits, Wall Street Journal
- The Crypto Economy’s Big Hope is Already in Crisis, Wall Street Journal
- New Details About FTX Emerge as Bankman-Fried’s Trial Begins, New York Times
- Deposit Insurance Isn’t the Moral Hazard You Think it is, New Report Argues, Axios
- Fed Michael Barr Defends Bank Capital Rule Plan that Wall Street Hates, Bloomberg
- Most Regulation Benefits Big Companies, Says Law Professor, Bloomberg
- SEC Argues Coinbase Crypto Case Not Barred by ‘Major Questions’ Doctrine, Reuters
- NRG Fight Puts Spotlight on SEC's Swaps Debate, Axios
- Australia to Regulate Digital Payment Systems Via New RBA Powers, Bloomberg
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Transportation & Infrastructure
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