[Federal Register Volume 62, Number 152 (Thursday, August 7, 1997)]
[Notices]
[Page 42486]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-20756]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposal To Collect Information on the Initial Report on a 
Foreign Person's Direct or Indirect Acquisition, Establishment, or 
Purchase of a U.S. Business Enterprise

ACTION: Proposed collection; comment request.

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SUMMARY: The Department of Commerce, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the general public 
and other Federal agencies to comment on proposed and/or continuing 
information collections, as required by the Paperwork Reduction Act of 
1995, Pub. L. 104-13 (44 U.S.C. 3506(c)(2)(A)).

DATES: Written comments must be submitted on or before October 6, 1997.

ADDRESSES: Direct all written comments to Linda Engelmeier, 
Departmental Forms Clearance Officer, Department of Commerce, Room 
5327, 14th and Constitution Avenue, NW, Washington, D.C. 20230.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instruments and instructions 
should be directed to: R. David Belli, U.S. Department of Commerce, 
Bureau of Economic Analysis, BE-50(OC), Washington, D.C. 20230 
(Telephone: 202-606-9800).

SUPPLEMENTARY INFORMATION:

I. Abstract

    The Initial Report on a Foreign Person's Direct or Indirect 
Acquisition, Establishment, or Purchase of the Operating Assets, of a 
U.S. Business Enterprise, Including Real Estate (Form BE-13) and the 
Report by a U.S. Person Who Assists or Intervenes in the Acquisition of 
a U.S. Business Enterprise by, or Who Enters Into a Joint Venture with, 
a Foreign Person (Form BE-14) obtain initial data on new foreign direct 
investment in the United States. The survey collects identification 
information on, and limited financial and operating data for, the U.S. 
entity being established or acquired. It also collects identification 
information on the new foreign owner. The data are needed to measure 
the amount of new foreign direct investment in the United States, 
monitor changes in such investment, assess its impact on the U.S. 
economy, and, based upon this assessment, make informed policy 
decisions regarding foreign direct investment in the United States.
    This survey is being revised to bring it into conformity with the 
proposed design of the BE-12, Benchmark Survey of Foreign Direct 
Investment in the United States--1997. Beginning with reports covering 
1998 transactions, BEA plans to raise the exemption level for reporting 
to $3 million (measured by the acquired or established company's total 
assets) from $1 million, thereby reducing respondent burden for small 
companies. A concomitant requirement that a report be filed for all 
acquisitions of 200 or more acres of U.S. land will not be changed. BEA 
also proposes to base industry coding of reporting companies on the new 
North American Industry Classification System (NAICS) in place of the 
current system, which is based on the U.S. Standard Industrial 
Classification System. No changes are being proposed for Form BE-14, 
except that the exemption for reporting is raised to correspond to the 
new threshold for Form BE-13.

II. Method of Collection

    The BE-13 survey must be filed by every U.S. business with over $3 
million of assets or 200 or more acres of U.S. land that is acquired to 
the extent of 10 percent or more, or is established, by a foreign 
investor. It is a one-time report that must be filed within 45 days of 
the acquisition or establishment. An exemption claim must be filed for 
transactions that do not meet the exemption levels of $3 million of 
assets or 200 acres of land. The BE-14 survey is filed by a person who 
assists in an investment transaction, such as a real estate broker or 
attorney, or who enters into a U.S. joint venture with a foreign 
person. Its purpose is to provide BEA with the name and address of the 
newly established or acquired U.S. company, so that a BE-13 form can be 
mailed to it for completion.

III. Data

    OMB Number: 0608-0035.
    Form Number: BE-13/BE-14.
    Type of Review: Regular submission.
    Affected Public: Businesses or other for-profit.
    Estimated Number of Respondents: 1,200 annually.
    Estimated Time Per Response: 1\1/2\ hours.
    Estimated Total Annual Burden: 1,800 hours.
    Estimated Total Annual Cost: $54,000 (based on an estimated 
reporting burden of 1,800 hours and an estimated hourly cost of $30).

IV. Request for Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
the agency, including whether the information has practical utility; 
(b) the accuracy of the agency's estimate of the burden (including 
hours and cost) of the proposed collection of information; (c) ways to 
enhance the quality, utility, and clarity of the information to be 
collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

    Dated: July 31, 1997.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and 
Organization.
[FR Doc. 97-20756 Filed 8-6-97; 8:45 am]
BILLING CODE 3510-06-P