[Federal Register Volume 62, Number 126 (Tuesday, July 1, 1997)]
[Notices]
[Pages 35473-35474]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-17122]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Benchmark Survey of Foreign Direct Investment in the United 
States--1997

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 September 2, 
1997.

ADDRESSES: Direct all written comments to Linda Engelmeier, 
Departmental Forms Clearance Officer, Department of Commerce, Room 
5327, 14th and Constitution Avenue, NW, Washington, DC 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, DC 20230 
(Telephone: 202-606-9800).

SUPPLEMENTARY INFORMATION:

I. Abstract

    The Benchmark Survey of Foreign Direct Investment in the United 
States--1997 will obtain universe data on the financial and operating 
characteristics of, and on positions and transactions between, U.S. 
affiliates and their foreign parents. The data from the quinquennial 
survey will provide benchmarks for deriving current universe estimates 
of foreign direct investment from sample data collected in other BEA 
surveys in nonbenchmark years. The data are needed to measure the size 
of 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

[[Page 35474]]

informed policy decisions regarding foreign direct investment in the 
United States. They are required for compiling the balance of payments, 
international investment position, and national income and product 
accounts of the United States.
    Key changes proposed by BEA from the previous benchmark survey 
include reducing respondent burden, particularly for small companies, 
by: (1) Increasing the exemption level for reporting on the survey to 
$3 million (measured by the company's total assets, sales, or net 
income) from $1 million in the 1992 survey; (2) increasing the 
exemption level at which reporting on the long form version of the 
survey is required from $50 million to $100 million; and (3) requiring 
reporting companies with assets, sales, or net income between $3 
million and $30 million to report only selected data items on the short 
form version. In addition, BEA 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 upon the 
U.S. Standard Industrial Classification system; to collect new 
information on affiliated services transactions by type of service; and 
to modify the detail collected on the composition of external financing 
of the reporting enterprise, on exports and imports of goods by 
product, and on the operations of foreign-owned businesses in 
individual States.

II. Method of Collection

    The survey will be sent to potential respondents in February 1998, 
and responses are due on May 31, 1998. Each U.S. business enterprise 
that was owned 10 percent or more by a foreign person at the end of its 
1997 fiscal year, and had total assets, sales or gross operating 
revenues, or net income that exceed $3 million must file a report. U.S. 
business enterprises that were owned 10 percent or more by a foreign 
person at the end of their 1997 fiscal years but had total assets, 
sales or gross operating revenues, and net income that did not exceed 
$3 million, and other U.S. businesses that receive a copy of the survey 
but are not subject to reporting, must file a claim for exemption from 
filing in the benchmark survey.

III. Data

    OMB Number: 0608-0042 (the number assigned to the previous 
quinquennial survey).
    Form Number: BE-12.
    Type of Review: Regular submission.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 11,000.
    Estimated Time Per Response: 22 hours is considered the average but 
the amount of time to complete the survey depends on the size and 
complexity of the business.
    Estimated Total Annual Burden: 245,000 hours.
    Estimated Total Annual Cost: $7,350,000 (based on an estimated 
reporting burden of 245,000 hours and an estimated hourly cost of $30). 
No capital costs will need to be expended to respond to the collection.

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: June 24, 1997.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and 
Organization.
[FR Doc. 97-17122 Filed 6-30-97; 8:45 am]
BILLING CODE 3510-06-P