772 Federal Register / Vol. 77, No. 4 / Friday, January 6, 2012 / Proposed Rules 

business hours at the office of the 

Eastern Service Center, Federal Aviation 

Administration, room 350, 1701 

Columbia Avenue, College Park, Georgia 

30337. 

Persons interested in being placed on 

a mailing list for future NPRMs should 

contact the FAA’s Office of Rulemaking, 

(202) 267–9677, to request a copy of 

Advisory circular No. 11–2A, Notice of 

Proposed Rulemaking distribution 

System, which describes the application 

procedure. 

The Proposal 

The FAA is considering an 

amendment to Title 14, Code of Federal 

Regulations (14 CFR) part 71 to establish 

Class E airspace at Marion, AL, 

providing the controlled airspace 

required to support the new RNAV GPS 

standard instrument approach 

procedures for Vaiden Field. Controlled 

airspace extending upward from 700 

feet above the surface would be 

established for the safety and 

management of IFR operations at the 

airport. 

Class E airspace designations are 

published in Paragraph 6005 of FAA 

order 7400.9V, dated August 9, 2011, 

and effective September 15, 2011, which 

is incorporated by reference in 14 CFR 

71.1. The Class E airspace designation 

listed in this document will be 

published subsequently in the Order. 

The FAA has determined that this 

proposed regulation only involves an 

established body of technical 

regulations for which frequent and 

routine amendments are necessary to 

keep them operationally current. It, 

therefore, (1) Is not a ‘‘significant 

regulatory action’’ under Executive 

Order 12866; (2) is not a ‘‘significant 

rule’’ under DOT Regulatory Policies 

and Procedures (44 FR 11034; February 

26, 1979); and (3) does not warrant 

preparation of a Regulatory Evaluation 

as the anticipated impact is so minimal. 

Since this is a routine matter that will 

only affect air traffic procedures and air 

navigation, it is certified that this 

proposed rule, when promulgated, 

would not have a significant economic 

impact on a substantial number of small 

entities under the criteria of the 

Regulatory Flexibility Act. 

The FAA’s authority to issue rules 

regarding aviation safety is found in 

Title 49 of the United States Code. 

Subtitle I, Section 106 describes the 

authority of the FAA Administrator. 

Subtitle VII, Aviation Programs, 

describes in more detail the scope of the 

agency’s authority. This proposed 

rulemaking is promulgated under the 

authority described in Subtitle VII, Part, 

A, Subpart I, Section 40103. Under that 

section, the FAA is charged with 

prescribing regulations to assign the use 

of airspace necessary to ensure the 

safety of aircraft and the efficient use of 

airspace. This proposed regulation is 

within the scope of that authority as it 

would establish Class E airspace at 

Vaiden Field, Marion, AL. 

Lists of Subjects in 14 CFR Part 71 

Airspace, Incorporation by reference, 

Navigation (air). 

The Proposed Amendment 

In consideration of the foregoing, the 

Federal Aviation Administration 

proposes to amend 14 CFR part 71 as 

follows: 

PART 71—DESIGNATION OF CLASS A, 

B, C, D, AND E AIRSPACE AREAS; AIR 

TRAFFIC SERVICE ROUTES; AND 

REPORTING POINTS 

1. The authority citation for part 71 

continues to read as follows: 

Authority: 49 U.S.C. 106(g); 40103, 40113, 

40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959– 

1963 Comp., p. 389. 

§ 71.1 [Amended] 

2. The incorporation by reference in 

14 CFR 71.1 of Federal Aviation 

Administration Order 7400.9V, Airspace 

Designations and Reporting Points, 

dated August 9, 2011, effective 

September 15, 2011, is amended as 

follows: 

Paragraph 6005 Class E airspace areas 

extending upward from 700 feet or more 

above the surface of the earth. 

* * * * * 

ASO AL E5 Marion, AL [New] 

Vaiden Field, AL 

(Lat. 32°30′38′′ N., long. 87°23′05′′ W.) 

That airspace extending upward from 700 

feet above the surface within a 7-mile radius 

of Vaiden Field. 

Issued in College Park, Georgia, on 

December 29, 2011. 

Jack Schroeter, 

Acting Manager, Operations Support Group, 

Eastern Service Center, Air Traffic 

Organization. 

[FR Doc. 2012–60 Filed 1–5–12; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF COMMERCE 

Bureau of Economic Analysis 

15 CFR Parts 801, 806, and 807 

[Docket No.: 111012619–1619–01] 

RIN 0691–AA81 

International Services Surveys and 

Direct Investment Surveys Reporting 

AGENCY: Bureau of Economic Analysis. 

ACTION: Proposed rule; request for 

comments. 

SUMMARY: The Bureau of Economic 

Analysis (BEA) proposes to revise its 

rules to establish general guidelines for 

reporting on international trade in 

services and direct investment surveys 

provided for by the International 

Investment and Trade in Services 

Survey Act (22 U.S.C. 3101 to 3108, (the 

Act)). In addition to the Act, the 

Omnibus Trade and Competitiveness 

Act of 1988 (15 U.S.C. 4908) provides 

authority for the international trade in 

services surveys. Currently, 

international trade in services and direct 

investment surveys are promulgated 

through separate rulemaking actions. 

This rule will modify the guidelines to 

allow such surveys to be issued through 

notices rather than as more formal 

rulemakings. The purpose of this rule is 

to provide a more general framework for 

collection of data on these surveys that 

are required, or provided for, by the 

statutes. The effect of this rule is to 

simplify and generalize existing 

regulations governing the procurement 

of information on international trade in 

services and direct investment. 

DATES: Comments on this proposed rule 

will receive consideration if submitted 

in writing on or before 5 p.m. March 6, 

2012. 

ADDRESSES: You may submit comments, 

identified by RIN 0691–AA81, and 

referencing the agency name (Bureau of 

Economic Analysis), by any of the 

following methods: 

• Federal eRulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

For Keyword or ID, enter ‘‘EAB–2011– 

0003.’’ 

• Email: David.Galler@bea.gov. 

• Fax: Office of the Chief, Direct 

Investment Division, (202) 606–2894. 

• Mail: Office of the Chief, Direct 

Investment Division, U.S. Department of 

Commerce, Bureau of Economic 

Analysis, BE–50, Washington, DC 

20230. 

• Hand Delivery/Courier: Office of the 

Chief, Direct Investment Division, U.S. 

Department of Commerce, Bureau of 


pmangrum on DSK3VPTVN1PROD with PROPOSALS-1
Federal Register / Vol. 77, No. 4 / Friday, January 6, 2012 / Proposed Rules 773 

Economic Analysis, BE–50, Shipping 

and Receiving, Section M100, 1441 L 

Street NW., Washington, DC 20005. 

FOR FURTHER INFORMATION CONTACT: 

David H. Galler, Chief, Direct 

Investment Division (BE–50), Bureau of 

Economic Analysis, U.S. Department of 

Commerce, Washington, DC 20230; 

phone (202) 606–9835. 

SUPPLEMENTARY INFORMATION: The 

purpose of the Act is to provide for the 

collection of comprehensive and 

reliable information pertaining to 

international investment, including 

international trade in services and direct 

investment, and to do so with a 

minimum of burden on respondents and 

with no unnecessary duplication of 

effort. The Act specifies that regular 

data collection programs and surveys, as 

specified in the Act or as deemed 

necessary by the Secretary of Commerce 

pursuant to Executive Order 11961, as 

amended by Executive Orders 12318 

and 12518, shall be conducted to secure 

information on international trade in 

services and on direct investment, 

including information that may be 

necessary for computing the 

international transactions and national 

income and product accounts and for 

deriving estimates of direct investment 

position and of operations of 

multinational companies. 

The existing regulations (15 CFR parts 

801 and 806) implementing certain 

provisions of the Act govern the 

reporting information on surveys of 

international trade in services and direct 

investment and provide detailed 

instructions to survey respondents on 

how to report and what forms to 

complete and submit when responding 

to the surveys. This method ensures that 

all potential respondents are notified of 

the new survey, but the process can 

hinder the timely gathering of 

information due to the necessary 

rulemaking steps. 

BEA proposes to revise these 

regulations to generalize the reporting 

requirements with respect to these 

surveys under the Act. Because of the 

level of detail included in the existing 

regulations, a rulemaking is required 

each time a change—such as changes in 

the survey year for a benchmark survey, 

the title of a survey, and the reporting 

threshold for a survey—is made to a 

survey. For surveys that are conducted 

on an ongoing basis—quarterly, 

annually, quinqenially—specific 

reporting information regarding 

individual surveys can more efficiently 

be issued as notices rather than through 

individual rulemakings. BEA can 

determine the likely universe of survey 

respondents through ongoing research 

of databases and outreach to 

professional organizations, so the 

surveys will continue to receive similar 

coverage and response rates even if they 

are issued as notices. Finally, there is no 

requirement in the Act or elsewhere that 

the reporting requirements and detailed 

instructions for such surveys be issued 

following notice and comment 

rulemaking. Therefore, BEA proposes to 

remove the current regulations and 

publish in the Federal Register notices 

of future surveys of foreign and direct 

investment in the United States and 

international trade in services. 

If this proposed rule is adopted, 

notice of specific surveys pertaining to 

international investment and trade in 

services and direct investment, 

including applicable report forms and 

instructions, would now be separately 

published in the Federal Register. In 

addition, only respondents notified of 

these surveys would be required to 

respond to BEA surveys. 

Executive Order 12866 

This proposed rule has been 

determined to be not significant for 

purposes of E.O. 12866. 

Executive Order 13132 

This proposed rule does not contain 

policies with Federalism implications 

sufficient to warrant preparation of a 

Federalism assessment under E.O. 

13132. 

Regulatory Flexibility Act 

The Chief Counsel for Regulation, 

Department of Commerce, has certified 

to the Chief Counsel for Advocacy, 

Small Business Administration, under 

the provisions of the Regulatory 

Flexibility Act (5 U.S.C. 605(b)), that 

this proposed rulemaking, if adopted, 

will not have a significant economic 

impact on a substantial number of small 

entities. The new rule will affect only 

BEA’s internal procedures regarding 

how it conducts surveys of international 

trade in services and direct investment. 

None of the proposed changes would 

have a direct effect on any businesses, 

large or small. Those subject to these 

surveys will still be required to respond 

to BEA’s requests for information, but 

the requests themselves will not be 

subject to notice and comment 

rulemaking. Therefore, the effect of this 

proposed rule is to simplify and 

generalize existing regulations 

governing the procurement of 

information on the international trade in 

services and direct investment under 

the Act. Because there would be no 

impact to small entities as a result of 

this change to the regulations, the Chief 

Counsel certified that this proposed 

rulemaking, if adopted, will not have a 

significant economic impact on a 

substantial number of small entities. 

Accordingly, no initial regulatory 

flexibility analysis is required, and none 

has been prepared. 

List of Subjects in 15 CFR Part 801 

Cross-Border transactions, Credit 

card, Debit card, Economic statistics, 

Foreign investment in the United States, 

Foreign trade, International 

transactions, Penalties, Reporting and 

recordkeeping requirements, Travel 

expenses, U.S. investment abroad. 

Dated: December 20, 2011. 

J. Steven Landefeld, 

Director, Bureau of Economic Analysis. 

For the reasons discussed in the 

preamble, Parts 801, and 806 of Title 15 

of the Code of Federal Regulations are 

proposed to be revised to read as 

follows: 

PART 801—SURVEYS OF 

INTERNATIONAL TRADE IN SERVICES 

BETWEEN U.S. AND FOREIGN 

PERSONS AND SURVEYS OF DIRECT 

INVESTMENT 

Sec. 

801.1 Purpose. 

801.2 Definitions. 

801.3 Reporting Requirements. 

801.4 Recordkeeping Requirements. 

801.5 Confidentiality. 

801.6 Penalties Specified by Law. 

Authority: 5 U.S.C. 301; 15 U.S.C. 4908; 

22 U.S.C. 3101–3108; E.O. 11961 (3 CFR, 

1977 Comp., p. 86), as amended by E.O. 

12318 (3 CFR, 1981 Comp. p. 173); and E.O. 

12518 (3 CFR, 1985 Comp. p. 348). 

Source: 42 FR 64315, Dec. 22, 1977 and 51 

FR 7772, Mar. 6, 1986, unless otherwise 

noted. 

§ 801.1 Purpose. 

The purpose of this part is to provide 

general information on international 

trade in services and direct investment 

data collection programs and analyses 

under the International Investment and 

Trade in Services Survey Act (22 U.S.C. 

3101 to 3108, as amended) (the Act). 

The purpose of the Act is to provide for 

the collection of comprehensive and 

reliable information pertaining to 

international investment, including 

international trade in services and direct 

investment, and to do so with a 

minimum of burden on respondents and 

with no unnecessary duplication of 

effort. 

§ 801.2 Definitions. 

For purposes of the Act and for 

reporting requirements under this Part: 

(a) United States, when used in a 

geographic sense, means the several 

States, the District of Columbia, the 


pmangrum on DSK3VPTVN1PROD with PROPOSALS-1
774 Federal Register / Vol. 77, No. 4 / Friday, January 6, 2012 / Proposed Rules 

Commonwealth of Puerto Rico, and all 

territories and possessions of the United 

States. 

(b) Foreign, when used in a 

geographic sense, means that which is 

situated outside the United States or 

which belongs to or is characteristic of 

a country other than the United States. 

(c) Person means any individual, 

branch, partnership, associated group, 

association, estate, trust, corporation, or 

other organization (whether or not 

organized under the laws of any State), 

and any government (including a 

foreign government, the United States 

Government, a State or local 

government, and any agency, 

corporation, financial institution, or 

other entity or instrumentality thereof, 

including a government-sponsored 

agency). 

(d) United States person means any 

person resident in the United States or 

subject to the jurisdiction of the United 

States. 

(e) Foreign person means any person 

resident outside the United States or 

subject to the jurisdiction of a country 

other than the United States. 

(f) Business enterprise means any 

organization, association, branch, or 

venture which exists for profit-making 

purposes or to otherwise secure 

economic advantage, and any 

ownership of any real estate. 

(g) Services are economic activities 

whose outputs are other than tangible 

goods. This term includes, but is not 

limited to, banking, other financial 

services, insurance, transportation, 

communications and data processing, 

retail and wholesale trade, advertising, 

accounting, construction, design, 

engineering, management consulting, 

real estate, professional services, 

entertainment, education, and health 

care. 

(h) International investment means: 

(1) The ownership or control, directly or 

indirectly, by contractual commitment 

or otherwise, by foreign persons of any 

interest in property in the United States, 

or of stock, other securities, or shortand long-term debt obligations of a 

United States person; and (2) the 

ownership or control, directly or 

indirectly, by contractual commitment 

or otherwise, by United States persons 

of any interest in property outside the 

United States, or of stock, other 

securities, or short- and long-term debt 

obligations of a foreign person. 

(i) Direct investment means the 

ownership or control, directly or 

indirectly, by one person of 10 percent 

or more of the voting securities of an 

incorporated business enterprise or an 

equivalent interest in an unincorporated 

business enterprise. 

§ 801.3 Reporting Requirements. 

(a) Notice of specific reporting 

requirements, including who is required 

to report, the information to be reported, 

the manner of reporting, and the time 

and place of filing reports, will be 

published by the Director of the Bureau 

of Economic Analysis in the Federal 

Register prior to the implementation of 

a survey. 

(b) In accordance with section 

3104(b)(2) of title 22 of the United States 

Code persons notified of these surveys 

and subject to the jurisdiction of the 

United States shall furnish, under oath, 

any report containing information 

which is determined to be necessary to 

carry out the surveys and studies 

provided for by the Act. 

§ 801.4 Recordingkeeping Requirements. 

In accordance with section 3104(b)(1) 

of title 22 of the United States Code, 

persons subject to the jurisdiction of the 

United States shall maintain any 

information which is essential for 

carrying out the surveys and studies 

provided for by the Act. 

§ 801.5 Confidentiality. 

Information collected pursuant to 

3104(c) of title 22 of the United States 

Code 

(a) Access to this information shall be 

available only to officials and 

employees (including consultants and 

contractors and their employees) of 

agencies designated by the President to 

perform functions under the Act. 

(b) Subject to paragraph (d) of this 

section, the President may authorize the 

exchange of information between 

agencies or officials designated to 

perform functions under the Act. 

(c) Nothing in this part shall be 

construed to require any Federal agency 

to disclose information otherwise 

protected by law. 

(d) This information shall be used 

solely for analytical or statistical 

purposes or for a proceeding under 

§ 801.6. 

(e) No official or employee (including 

consultants and contractors and their 

employees) shall publish or make 

available to any other person any 

information collected under the Act in 

such a manner that the person to whom 

the information relates can be 

specifically identified. 

(f) Reports and copies of reports 

prepared pursuant to the Act are 

confidential and their submission or 

disclosure shall not be compelled by 

any person without the prior written 

permission of the person filing the 

report and the customer of such person 

where the information supplied is 

identifiable as being derived from the 

records of such customer. 

§ 801.6 Penalties. 

(a) Civil Penalties. Whoever fails to 

furnish any information required by the 

Act or to comply with any rule, 

regulation, order or instruction 

promulgated under the Act shall be 

subject to a civil penalty of not less than 

$2,500, and not more than $25,000, and 

to injunctive relief commanding such 

person to comply, or both (see 22 U.S.C. 

3105(a) and (b)). These civil penalties 

are subject to inflationary adjustments 

(15 CFR 6.4.). 

(b) Criminal Penalties. Whoever 

willfully fails to submit any information 

required by the Act or willfully violates 

any rule, regulation, order or instruction 

promulgated under the Act, upon 

conviction, shall be fined not more than 

$10,000 and, if an individual, may be 

imprisoned for not more than one year, 

or both. Any officer, director, employee, 

or agent of any corporation who 

knowingly participates in such 

violations, upon conviction, may be 

punished by a like fine, imprisonment 

or both (see 22 U.S.C. 3105(c)). 

PART 806—[RESERVED] 

PART 807—[RESERVED] 

[FR Doc. 2012–47 Filed 1–5–12; 8:45 am] 

BILLING CODE P 


pmangrum on DSK3VPTVN1PROD with PROPOSALS-1