83 FR 46888 - Rulemaking Petition: Personal Use of Leadership PAC Funds
FEDERAL ELECTION COMMISSION Federal Register Volume 83, Issue 180 (September 17, 2018)
Federal Register Volume 83, Issue 180 (September 17, 2018)
| Page Range | 46888-46889 | |
| FR Document | 2018-20095 |
[Federal Register Volume 83, Number 180 (Monday, September 17, 2018)] [Proposed Rules] [Pages 46888-46889] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-20095] ======================================================================= ----------------------------------------------------------------------- FEDERAL ELECTION COMMISSION 11 CFR Part 113 [Notice 2018-14] Rulemaking Petition: Personal Use of Leadership PAC Funds AGENCY: Federal Election Commission. ACTION: Rulemaking petition: Notification of availability. ----------------------------------------------------------------------- SUMMARY: On July 24, 2018, the Federal Election Commission received a Petition for Rulemaking, which asks the Commission to revise and amend the existing regulation concerning the personal use of campaign funds, to specify that that regulation applies to leadership PAC funds. The Commission seeks comments on the petition. DATES: Comments must be submitted on or before November 16, 2018. ADDRESSES: All comments must be in writing. Commenters are encouraged to submit comments electronically via the Commission's website at http://sers.fec.gov/fosers/rulemaking.htm?pid=2933211, reference REG 2018-02. Alternatively, commenters may submit comments in paper form, addressed to the Federal Election Commission, Attn.: Mr. Robert M. Knop, Assistant General Counsel, 1050 First Street NE, Washington, DC 20463. Each commenter must provide, at a minimum, his or her first name, last name, city, and state. All properly submitted comments, including attachments, will become part of the public record, and the Commission will make comments available for public viewing on the Commission's website and in the Commission's Public Records Office. Accordingly, commenters should not provide in their comments any information that they do not wish to make public, such as a home street address, personal email address, date of birth, phone number, social security number, or driver's license number, or any information that is restricted from disclosure, such as trade secrets or commercial or financial information that is privileged or confidential. FOR FURTHER INFORMATION CONTACT: Mr. Robert M. Knop, Assistant General Counsel, or Mr. Joseph P. Wenzinger, Attorney, Office of General Counsel, 1050 First Street NE, Washington, DC 20463, (202) 694-1650 or (800) 424-9530. SUPPLEMENTARY INFORMATION: On July 24, 2018, the Commission received a Petition for Rulemaking from Campaign Legal Center, Issue One, and five former United States Representatives, asking the Commission to revise and amend 11 CFR 113.1(g)--which regulates the personal use of campaign funds--to specify that that regulation applies to leadership PAC funds. The Federal Election Campaign Act, 52 U.S.C. 30101-45 (the ``Act''), identifies six categories of permissible uses of contributions accepted by a federal candidate, and any other donations received by an individual as support for activities of the individual as a federal officeholder. 52 U.S.C. 30114(a). These permissible uses include ``any . . . lawful purpose'' that does not convert campaign funds to ``personal use.'' 52 U.S.C. 30114(a)(6), (b)(1). Commission regulations define ``personal use'' as ``any use of funds in a campaign account of a present or former candidate to fulfill a commitment, obligation or expense of any person that would exist irrespective of the candidate's campaign or duties as a Federal officeholder.'' 11 CFR 113.1(g); see also 52 U.S.C. 30114(b)(2). As defined by the Act and Commission regulations, leadership PACs are political committees directly or indirectly established, financed, maintained, or controlled by federal candidates or officeholders that are neither authorized committees of a federal candidate or officeholder nor affiliated with an authorized committee of a federal candidate or officeholder. See 52 U.S.C. 30104(i)(8)(B); 11 CFR 100.5(e)(6). The term ``leadership PAC'' does not include a political committee of a political party. 52 U.S.C. 30104(i)(8)(B); 11 CFR 100.5(e)(6). The petition asks the Commission to open a rulemaking to ``clarify that the statutory prohibition'' on personal use of campaign funds applies to leadership PACs. The statutory prohibition applies, the petition argues, because a contribution to a leadership PAC qualifies under 52 U.S.C. 30114(a) as both a ``contribution accepted by a candidate,'' and a ``donation received by an individual as support for activities of the individual as a holder of Federal office.'' The petition suggests that the Commission revise 11 CFR 113.1(g) to include leadership PACs. The Commission seeks comments on the petition. The public may inspect the petition on the Commission's website at http:// sers.fec.gov/fosers/ [[Page 46889]] showpdf.htm?docid=399206, or in the Commission's Public Records Office, 1050 First Street NE, 12th Floor, Washington, DC 20463, Monday through Friday, from 9 a.m. to 5 p.m. The Commission will not consider the petition's merits until after the comment period closes. If the Commission decides that the petition has merit, it may begin a rulemaking proceeding. The Commission will announce any action that it takes in the Federal Register. On behalf of the Commission, Dated: September 7, 2018. Caroline C. Hunter, Chair, Federal Election Commission. [FR Doc. 2018-20095 Filed 9-14-18; 8:45 am] BILLING CODE 6715-01-P
![46888 Federal Register / Vol. 83, No. 180 / Monday, September 17, 2018 / Proposed Rules
compiled into one or more PDFs. This Signed in Washington, DC, on September 1050 First Street NE, Washington, DC
reduces comment processing and 7, 2018. 20463, (202) 694–1650 or (800) 424–
posting time. Cathy Tripodi, 9530.
Confidential Business Information. Acting Assistant Secretary, Energy Efficiency SUPPLEMENTARY INFORMATION: On July
and Renewable Energy.
According to 10 CFR 1004.11, any 24, 2018, the Commission received a
[FR Doc. 2018–20131 Filed 9–14–18; 8:45 am]
person submitting information that he Petition for Rulemaking from Campaign
BILLING CODE 6450–01–P Legal Center, Issue One, and five former
or she believes to be confidential and
exempt by law from public disclosure United States Representatives, asking
should submit via email, postal mail, or the Commission to revise and amend 11
hand delivery two well-marked copies: FEDERAL ELECTION COMMISSION CFR 113.1(g)—which regulates the
one copy of the document marked personal use of campaign funds—to
11 CFR Part 113 specify that that regulation applies to
confidential including all the
information believed to be confidential, [Notice 2018–14] leadership PAC funds.
and one copy of the document marked The Federal Election Campaign Act,
‘‘non-confidential’’ with the information Rulemaking Petition: Personal Use of 52 U.S.C. 30101–45 (the ‘‘Act’’),
believed to be confidential deleted. Leadership PAC Funds identifies six categories of permissible
Submit these documents via email or on uses of contributions accepted by a
AGENCY: Federal Election Commission.
a CD, if feasible. DOE will make its own federal candidate, and any other
ACTION: Rulemaking petition: donations received by an individual as
determination about the confidential Notification of availability.
status of the information and treat it support for activities of the individual
according to its determination. SUMMARY: On July 24, 2018, the Federal as a federal officeholder. 52 U.S.C.
Election Commission received a Petition 30114(a). These permissible uses
Factors of interest to DOE when include ‘‘any . . . lawful purpose’’ that
evaluating requests to treat submitted for Rulemaking, which asks the
Commission to revise and amend the does not convert campaign funds to
information as confidential include (1) a ‘‘personal use.’’ 52 U.S.C. 30114(a)(6),
description of the items, (2) whether existing regulation concerning the
personal use of campaign funds, to (b)(1). Commission regulations define
and why such items are customarily ‘‘personal use’’ as ‘‘any use of funds in
treated as confidential within the specify that that regulation applies to
leadership PAC funds. The Commission a campaign account of a present or
industry, (3) whether the information is former candidate to fulfill a
seeks comments on the petition.
generally known by or available from commitment, obligation or expense of
other sources, (4) whether the DATES: Comments must be submitted on
any person that would exist irrespective
information has previously been made or before November 16, 2018.
of the candidate’s campaign or duties as
available to others without obligation ADDRESSES: All comments must be in a Federal officeholder.’’ 11 CFR
concerning its confidentiality, (5) an writing. Commenters are encouraged to 113.1(g); see also 52 U.S.C. 30114(b)(2).
explanation of the competitive injury to submit comments electronically via the As defined by the Act and
the submitting person which would Commission’s website at http:// Commission regulations, leadership
result from public disclosure, (6) when sers.fec.gov/fosers/rulemaking.htm?pid= PACs are political committees directly
such information might lose its 2933211, reference REG 2018–02. or indirectly established, financed,
confidential character due to the Alternatively, commenters may submit maintained, or controlled by federal
passage of time, and (7) why disclosure comments in paper form, addressed to candidates or officeholders that are
of the information would be contrary to the Federal Election Commission, Attn.: neither authorized committees of a
the public interest. Mr. Robert M. Knop, Assistant General federal candidate or officeholder nor
Counsel, 1050 First Street NE, affiliated with an authorized committee
It is DOE’s policy that all comments Washington, DC 20463.
may be included in the public docket, of a federal candidate or officeholder.
Each commenter must provide, at a See 52 U.S.C. 30104(i)(8)(B); 11 CFR
without change and as received, minimum, his or her first name, last
including any personal information 100.5(e)(6). The term ‘‘leadership PAC’’
name, city, and state. All properly does not include a political committee
provided in the comments (except submitted comments, including
information deemed to be exempt from of a political party. 52 U.S.C.
attachments, will become part of the 30104(i)(8)(B); 11 CFR 100.5(e)(6).
public disclosure). public record, and the Commission will The petition asks the Commission to
DOE considers public participation to make comments available for public open a rulemaking to ‘‘clarify that the
be a very important part of the process viewing on the Commission’s website statutory prohibition’’ on personal use
for developing a greater understanding and in the Commission’s Public Records of campaign funds applies to leadership
of the emerging ‘‘smart’’ technology Office. Accordingly, commenters should PACs. The statutory prohibition applies,
sector. DOE actively encourages the not provide in their comments any the petition argues, because a
participation and interaction of the information that they do not wish to contribution to a leadership PAC
public during the comment period in make public, such as a home street qualifies under 52 U.S.C. 30114(a) as
each stage of this process. Interactions address, personal email address, date of both a ‘‘contribution accepted by a
with and between members of the birth, phone number, social security candidate,’’ and a ‘‘donation received by
public provide a balanced discussion of number, or driver’s license number, or an individual as support for activities of
daltland on DSKBBV9HB2PROD with PROPOSALS
the issues and assist DOE in the process. any information that is restricted from the individual as a holder of Federal
Anyone who wishes to be added to the disclosure, such as trade secrets or office.’’ The petition suggests that the
DOE mailing list to receive future commercial or financial information Commission revise 11 CFR 113.1(g) to
notices and information about this that is privileged or confidential. include leadership PACs.
process should contact Energy FOR FURTHER INFORMATION CONTACT: Mr. The Commission seeks comments on
Efficiency and Renewable Energy staff at Robert M. Knop, Assistant General the petition. The public may inspect the
(202) 586–6803 or via email at Counsel, or Mr. Joseph P. Wenzinger, petition on the Commission’s website at
SmartProductsRFI@HQ.doe.gov. Attorney, Office of General Counsel, http://sers.fec.gov/fosers/
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![Federal Register / Vol. 83, No. 180 / Monday, September 17, 2018 / Proposed Rules 46889
showpdf.htm?docid=399206, or in the Federal eRulemaking Portal, please also Mortgage Market.1 The white paper
Commission’s Public Records Office, send it by email to FHFA at proposed a new securitization platform
1050 First Street NE, 12th Floor, RegComments@fhfa.gov to ensure (the ‘‘Common Securitization Platform’’
Washington, DC 20463, Monday timely receipt by FHFA. Please include or ‘‘CSP’’). The goal of the proposal was
through Friday, from 9 a.m. to 5 p.m. ‘‘RIN 2590–AA94’’ in the subject line of to improve housing finance while not
The Commission will not consider the the message. limiting market choices or innovation.
petition’s merits until after the comment • Hand Delivery/Courier: The hand The proposal identified principles
period closes. If the Commission delivery address is: Alfred M. Pollard, critical to the success of an efficient
decides that the petition has merit, it General Counsel, Attention: Comments/ secondary mortgage market—including
may begin a rulemaking proceeding. RIN 2590–AA94, Federal Housing promoting liquidity, attracting private
The Commission will announce any Finance Agency, Constitution Center capital, benefiting borrowers, and
action that it takes in the Federal (OGC Eighth Floor), 400 7th St. SW, operating flexibly and efficiently.
Register. Washington, DC 20219. Deliver the FHFA’s proposal involved the
On behalf of the Commission, package to the Seventh Street entrance standardization of functions that are
Dated: September 7, 2018. Guard Desk, First Floor, on business common across the industry, such as the
days between 9:00 a.m. and 5:00 p.m. issuance and settlement of mortgage-
Caroline C. Hunter,
Chair, Federal Election Commission. • U.S. Mail, United Parcel Service, backed securities (MBS) and their
Federal Express, or Other Mail Service: monthly bond administration.
[FR Doc. 2018–20095 Filed 9–14–18; 8:45 am] The mailing address for comments is: In response to the white paper, FHFA
BILLING CODE 6715–01–P Alfred M. Pollard, General Counsel, received input from a broad cross-
Attention: Comments/RIN 2590–AA94, section of stakeholders in the
Federal Housing Finance Agency, securitization process. Generally, the
FEDERAL HOUSING FINANCE Constitution Center (OGC Eighth Floor), respondents supported the
AGENCY 400 7th St. SW, Washington, DC 20219. technological aspects and the proposed
Please note that all mail sent to FHFA functions of the CSP. In October 2013,
12 CFR Part 1248 via U.S. Mail is routed through a Fannie Mae and Freddie Mac formally
RIN 2590–AA94 national irradiation facility, a process established a joint venture to develop
that may delay delivery by the CSP, using as a legal vehicle a
Uniform Mortgage-Backed Security approximately two weeks. For any time- limited liability company—Common
sensitive correspondence, please plan Securitization Solutions, LLC (CSS).
AGENCY: Federal Housing Finance On May 13, 2014, FHFA published its
accordingly.
Agency. 2014 Strategic Plan for the
ACTION: Proposed rule. FOR FURTHER INFORMATION CONTACT: Conservatorships of Fannie Mae and
Robert Fishman, Senior Associate Freddie Mac (2014 Strategic Plan). The
SUMMARY: The Federal Housing Finance Director, Division of Conservatorship, 2014 Strategic Plan Scorecard 2 set a
Agency (FHFA or Agency) is providing (202) 649–3527, Robert.Fishman@ goal that the Enterprises, through CSS,
notice and inviting comment on a fhfa.gov, or James P. Jordan, Associate develop a single, common Enterprise
proposed rule to improve the liquidity General Counsel, Office of General MBS as part of the broader CSP build.
of the Federal National Mortgage Counsel, (202) 649–3060, FHFA had determined that a single,
Association (Fannie Mae) and the James.Jordan@fhfa.gov. These are not common Enterprise MBS would
Federal Home Loan Mortgage toll-free numbers. The telephone promote liquidity and improve the
Corporation (Freddie Mac) (the number for the Telecommunications distribution of investment capital.
Enterprises) To-Be-Announced (TBA) Device for the Hearing Impaired is (800) FHFA concluded that by making
eligible mortgage-backed securities 877–8339. Freddie Mac MBS fungible with Fannie
(MBS) by requiring the Enterprises to SUPPLEMENTARY INFORMATION: Mae MBS, both the Fannie Mae and
maintain policies that promote aligned Freddie Mac MBS markets would
investor cash flows both on current I. Comments
become more and equally liquid.
TBA-eligible MBS, and, upon its FHFA invites comments on all aspects Reports indicated that Freddie Mac was
implementation, on the Uniform of the proposed rule and will consider spending as much as $400 million
Mortgage-Backed Security (UMBS)—a all comments before issuing a final rule. dollars per annum in market adjusted
common, fungible MBS that will be FHFA will post for public inspection all pricing (MAP) 3 and that Freddie Mac’s
eligible for trading in the TBA market comments received by the deadline MAP costs were attributable to its MBS
for fixed-rate mortgage loans backed by without change, including any personal being less liquid than Fannie Mae
1–4 unit (single-family) properties. information you provide, such as your MBS.4 Those amounts have
DATES: Written comments must be name, address, email address, and
received on or before November 16, telephone number on the FHFA website 1 https://www.fhfa.gov/PolicyProgramsResearch/
2018. at http://www.fhfa.gov. In addition, Research/PaperDocuments/FHFA_Securitization_
White_Paper_N508L.pdf (last accessed 08/17/2018).
ADDRESSES: You may submit your copies of all comments received will be 2 Post-conservatorship, FHFA began publishing
written comments on this proposed available for examination by the public Scorecards, which provide the implementation
rule, identified by regulatory through the electronic rulemaking roadmap for the Strategic Plan for the
daltland on DSKBBV9HB2PROD with PROPOSALS
docket for this proposed rule also Conservatorships of Fannie Mae and Freddie Mac.
information number: RIN 2590–AA94 The Scorecards include specific objectives and
by any of the following methods: located on the FHFA website. timetables for the Enterprises in support of the
• Agency website: www.fhfa.gov/ II. Background Strategic Plan.
open-for-comment-or-input. 3 MAP is a cash payment or discount in the
• Federal eRulemaking Portal: http:// On October 4, 2012, FHFA published contractual ongoing guarantee fee based on spreads
and requested public input on a white between Fannie Mae and Freddie Mac MBS.
www.regulations.gov. Follow the 4 See e.g., Laurie Goodman, Lewis Ranieri,
instructions for submitting comments. If paper entitled Building a New Charting a Course to a Single Security (September
you submit your comment to the Infrastructure for the Secondary Continued
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Document Created: 2018-09-15 01:37:22
Document Modified: 2018-09-15 01:37:22
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Proposed Rules | |
| Action | Rulemaking petition: Notification of availability. | |
| Dates | Comments must be submitted on or before November 16, 2018. | |
| Contact | Mr. Robert M. Knop, Assistant General Counsel, or Mr. Joseph P. Wenzinger, Attorney, Office of General Counsel, 1050 First Street NE, Washington, DC 20463, (202) 694-1650 or (800) 424-9530. | |
| FR Citation | 83 FR 46888 |
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