Document np3JoeEOVJmVGr86nRwYoJ9OG

o c o ct ? a ac ^ n m t Flynt Kennedy To - (WRBe - DVP' tWg"~ -g(t&ff (AJLu-KY) (DHS-RAF) CLW RGW Date 4/3/75 The attached provides a better than usual "state of the union" summary. lm enc Afi. .* i 1975 - *7F-*^*'**> RULES AftO REGULATIONS pinfo income irom the rental of personal the property- to which the election ap comprehensive requirements io protect <s; nroparty Js not described in section. 856 plies. The statement shall also act employees, which requirements were to CcX3ViA), (B), 1C). ID), or fE), such forth-- become effective on January 1,1975. The '**> jnnnmp is subject to tax under section CD The name, address, and taxpayer standard also .provided for a continua- 03 857(b) (4). A deduction is '`directly con identification number of the REIT, tion of the provisions of the emergency nected"' with gross income li it has a <2) The taxable year in which the temporary standard (39 FR 123 4 n until . proximate and primary relationship to property with respect to which the elec the new standard became effective. In ^ \ the faming of such income. Thus, In tion is being made was acquired. If the addition, some of the respiratory pro- <=, i the case of gross income from real prop- statement is not attached to a return lection requirements In the new stand . erty, "directly connected" deductions or amended return. ard were not to become mandatory until would include depreciation on the prop (3) The date the property was ac after December .31,1975. erty, interest on any obligations attribu quired by the REIT, and Upon the publication of the final table to the carrying of. the property, (4) A brief description of how the real standard,. manufacturers of vinyl chlo real estate taxes, and Sees paid to an property was acquired, including the ride and vinyl chloride products filed independent contractor hired to manage name of the person or persons from petitions challenging the validity of the the property. On the other"hand, general whom such real property was acquired standard In several U.S. Courts of Ap overhead and administrative expenses and a description of the lease or indebt peals. The petitions were consolidated in Are not "directly connected" deductions. (2) Real estate investment trust tax able income. The tax imposed by section 857(b)(4) applies only if there is net edness with respect to which default occurred or was imminent. (g) Election is irrevocable. An elec tion made in accordance with paragraph the U.S. Court of Appeals for the Second Circuit where oral arguments were heard on December 13.1974. The Court of Ap peals decided, on January 31. 1975. to income from foreclosure property. If Lf) of this section shall be irrevocable. deny the petitions for review and to af there is a net loss from foreclosure prop Because of the need for immediate firm the standard. Because of the pas erty (that Is. if the aggregate computed guidance with respect to the manner of sage of time, however, the court ordered under subparagraph (1) of this para making the election provided by section 6 that the January 1, 1975, effective date graph results in a negative amount) such of Pub, L. 93-625. it is found Imprac be delayed for 60 days after the date of loss is taken into account in computing ticable to issue this Treasury decision Its decision, and that the special time real estate investment trust taxable In with notice and public procedure thereon requirement for mandatory respiratory come under section 857(b) (2). under subsection (b) of section 553 of protection contained in 29 cfr i9io.93q id) Election on a property-by-prop- title 5 of the United States Code or sub (g)(1) be rescheduled accordingly. erty basis. An election under section 856 ject to the effective date limitation of Therefore, to conform the standard to (e)to treat property as foreclosure prop subsection (d> of that section. the court's order and thereby avoid any erty shall be made on a property-by (Sec. 7805. Internal Revenue Code of 1954 confusion as to effective date. 1910.93q property basis. Thus, if the REIT ac <68A 6tat. D17; 26 VAC. 7805)) of Part 1910 of Title 29. Code of Federal quires property eligible for the election. In each of two separate foreclosures with respect to two separate obligations, the BEIT may make an election with respect to the property acquired upon either, or both, of the foreclosures. (e) Time for making election. The election by a BEIT to treat property as foreclosure property must be made on or before either the due date (including extensions of time) for filing the REIT's income tax return for the taxable year in which the REIT acquires the prop erty with respect to which the election is being made, or April 3, 1975, which [seal! Donald C. Alexander, Commissioner of Internal Revenue. Regulations, is hereby amended as -set forth below. Approved; March 20, 1975. - Frederic W. Hickman, Assistant Secretary of the Treasury. 1910.93q {Amended] 1. Paragraph (g)(1) of 1910.93q is amended by changing the date "Decem ber 31,1975" In each of the first iwo sen tences to "April 1. 1976." [FR DOC.75-7745 Filed 3-24-75;8:45 am) 2. Paragraphs (o)(l) and Co) (2) of effective date "January 1. 1975" in both ---- Title 29--Labor { 1910,93q are amended by changing the paragraphs to "April 1, 1975." CHAPTER XVII--OCCUPATIONAL SAFETY AND HEALTH ADMINISTRATION, DE (Sees. 6 ana 8. Pub. Law 01-595. 84 Btat. 1593. I 1600 ( 29 trs.c. 655. 657); Secretary of Labor's PARTMENT OF LABOR Order NO. 12-71. (36 FB 8754)) ever is later. Thus a REIT which ac quires property eligible for the election after December 31. 1973, may make an election with respect to such property on or before April 3, 1975, even though the time prescribed by law (Including exten sions of time) for filing the Income tax return for the taxable year In which the REIT acquires such property has ex pired (or will expire) before April 4, 1975. (f) Manner of snaking the election. The election shall be made by a state ment attached to the REIT's income tax return for the taxable year In which the REIT acquired the property with respect to which the election Is being made. If, however, the income tax return for such . year has been filed -before the time ex pires for making the election, the elec tion may be made either by filing an amended return for such year with the statement attached, or by filing the statement with the district director, or director of die internal revenue service , center, with whom the return for such : year was filed. The statement shall indl- PART 1910--OCCUPATIONAL SAFETY AND HEALTH STANDARDS Standard for Exposure to Vinyl Chloride; Effective Date Pursuant to sections 6(b) and 8(g) (2) of the Occupational Safety and Health Act Of 1970 (84 Stat. 1593), 1600; 29 U.S.C. 655, 657), Secretary of Labor's Order No. 12-71 (36 FR 8754) and 29 CFR Part 1911. 1910.93q of Part 1910 of Title 29, Code of Federal Regulations, is hereby amended in the manner set forth below. This amendment Is made In order to conform the dates In para graphs (g)(1), (o) (1) and (o)<2> of 1910.93q to the order of the United States Court of Appeals for the Second Circuit in "The Society of the Plastics Industry.- Inc^ v. Occupational Safety and Health Administration." (Docket Nos. 74-2284, 74-2286, 74-2308, 74-2345, 74-2449, 74-2450. 74-2491, 74-2585, 742609, January 31. 1975). A final standard for occupational ex posure to vinyl chloride was published In Signed at Washington, D.C. this 18th Iday of March. 1975. | John Stxkder. Assistant Secretary of Labor. (FR Doc.75-7727 Filed 3-24-75:8:45 am] PART 1952--APPROVED STATE PLANS FOR ENFORCEMENT OF STATE STAND ARDS Approval of Minnesota State Poster 1. Background. Part 1953 of Title 29. Code of Federal Regulations, provides procedures under section 16 of the Oc cupational Safety aad Health Act of 1970 129 U.S.C. 667) (hereinafter referred to as the Act), for review of changes and progress in the development and imple mentation of State plans which have been approved in accordance with sec tion 18(c) of the Act arid part 1902 of this chapter. -On June 8, 1973. a notice was published In the Federal Register (38 FR 15076) of the approval of the Minnesota plan and of the adoption of Subpart N of Part 1952 containing the 1 cate that the election is made under the Federal Register on October 4.1974 decision of approval. On January 27, under section 856(e) and shall identify (39 FR 35890). The standard provided 1975, the State of Minnesota submitted a FEDERAL .REGISTER, VOL 40, NO- 53--TUESDAY, MARCH 25, 1975 No C 56/8 Official journal of the European Communities 5*3 8- 3, 75 WITTEN QUESTION No 593/74 by Mr Kater and Mr Willi Muller to the Commission of the European Communities (23 December 1974) Subject: The health risk involved in the manufacture of PVC In answer to our Written Question No 645/73 (*} given in the middle of this year, the Commission stated that it would ask the International Agency for Research on Cancer of Lyons for available data on the toxicity of vinyl chloride and polyvinyl chloride, in order ro take whatever practical action is possible in the light of the most up to date scientific knowledge. In the meantime new discoveries have been made which have, for example, led the authority responsible in the United States, OSHA, to impose new restrictions on the handling of substances used (J) OJ No C 53, 9. 5. 1974, p. 15. in manufacturing PVC. In addition there are now numerous repons from Community countries which beat out the conclusion that the products referred to are highly dangerous to health and carcinogenic. We ask the Commission: 1. Has the Commission carried out the fcllow-up to which it referred in answer ro our question and what findings has it obtained? 2. Does the Commission appreciate that, purely as a precaution, measures should be taken immediately to draw up Community regulations to deal effectively with the risks involved in the production of PVC? Answer (7 February 1975) 1. Yes. The Commission is in close touch with the Internationa] Agency for Research on Cancer (CIRC) at Lyons, which has defined a methodology for compiling data on a large scale. The expert group which has been commissioned to pursue these enquiries on behalf of the CIRC has just begun work. The Commission will inform the Honourable Members of its findings as soon as they are available. The Commission also organized a scientific conference in Brussels on 17 and IS September 1974 on the dangers of vinyl chloride monomer, a basic product used in the manufacture of many plastics, for workers and the environment. There was broad agreement among those present that effective prevention must from the outset be based on a strict epidemiologic:!- approach. Concrete proposals were made ar.d the Commission undertook to encourage and coordinate work in progress. Information on `new' industrial diseases and the criteria permitting their early diagnosis would be gathered by the Commission. Lastly, it was proposed that a comparative study of methods, apparatus and legislation should be initiated to make controls more effective and results more comparable. This programme should lead to stricter supervision of workplaces and reduce the risks to workers who inhale vinyl chloride monomer vapours. The Commission will publish the proceedings of this conference in the first half of 1975. 2. The Commission intends to call a meeting of government experts in the near future to examine the feasibility of the Community defining basic principles for protecting workers and the general public from vinyl chloride monomer poisoning.