[Federal Register Volume 59, Number 236 (Friday, December 9, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-30243]


[[Page Unknown]]

[Federal Register: December 9, 1994]


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FEDERAL COMMUNICATIONS COMMISSION

 

Public Information Collection Requirement Submitted to Office of 
Management and Budget for Review

November 30, 1994.
    The Federal Communications Commission has submitted the following 
information collection requirement to OMB for review and clearance 
under the Paperwork Reduction Act of 1980 (44 U.S.C. 3507).
    Copies of this submission may be purchased from the Commission's 
copy contractor, International Transcription Service, Inc., 2100 M 
Street, NW, Suite 140, Washington, DC 20037, (202) 857-3800. For 
further information on this submission contact Judy Boley, Federal 
Communications Commission, (202) 418-0214. Persons wishing to comment 
on this information collection should contact Timothy Fain, Office of 
Management and Budget, Room 10214 NEOB, Washington, DC 20503, (202) 
395-3561.

OMB Number: 3060-0600.
    Title: Implementation of Section 309(j) of the Communications Act--
Competitive Bidding, Fifth Memorandum Opinion and Order, PP Docket No. 
93-253.
    Form Number: FCC Form 175/FCC 175-S.
    Action: Revision of a currently approved collection.
    Respondents: Businesses or other for-profit (including small 
businesses).
    Frequency of Response: On occasion reporting requirement and 
recordkeeping requirement.
    Estimated Annual Burden: 1,000 - 3,000 responses, 3 - 7.5 hours 
average burden per response, 3,000 - 22,500 hours annual burden; 1,000 
- 3,000 recordkeepers, 1 hour average burden per recordkeeper, 4,000 - 
25,500 hours total annual burden.
    Needs and Uses: The Commission re-examined certain aspects of its 
rules in the Fifth Memorandum Opinion Order, adopted November 10, 1994. 
Specifically, the Commission resolved issues associated with our 
entrepreneur's block rules, as well as other provisions we established 
to ensure that small businesses, rural telephone companies and 
businesses owned by minorities and women (collectively termed 
``designated entities'') have a meaningful opportunity to participate 
in the provision of broadband PCS. Thus, as described below, we relax 
some aspects of our rules to encourage investment in designated 
entities, but clarify other provisions to emphasize that broadband PCS 
participation for women and minorities should be synonymous with a bona 
fide and meaningful presence in this emerging telecommunications 
industry. In summary, the Commission decided to modify the rules to 
allow certain noncontrolling investors who do not qualify for the 
entrepreneurs' block or as small businesses to become investors in an 
applicant's control group and allow entities that are controlled by 
minorities and/or women, but that have investors that are neither 
minorities nor women, to be part of the control group. Retain the 
requirement that a designated entity's control group own at least 25% 
of the applicant's total equity, but require that only 15% be held by 
controlling members of the control group that are minorities, women or 
small/entrepreneurial business principals. The minimum 15% may be held 
in the form of options, provided these options are exercisable at any 
time, solely at the holder's discretion, and at an exercise price less 
than or equal to the current market valuation of the underlying shares 
at the time of filing FCC Form 175 (the short form). The remaining 10% 
of the applicant's equity may be held in the form of either stock 
options or shares, and the FCC will allow certain investors that may 
not be women, minorities or small business/entrepreneurial principals 
to hold interests in such shares or options that are part of the 
control group's equity. The FCC Form 175 as been revised to require 
applicants claiming designated entity status to certify that they will 
consent to audits, as set forth in our rules, to verify such status. 
See the Fifth Memorandum Opinion and Order, PP Docket No. 93-253, 
released November 23, 1994, for further modifications to these rules 
and requirements.

Federal Communications Commission.
William F. Caton,
Acting Secretary.
[FR Doc. 94-30243 Filed 12-08-94; 8:45 am]
BILLING CODE 6712-0l-F