[Federal Register Volume 68, Number 91 (Monday, May 12, 2003)]
[Notices]
[Page 25326]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-11688]


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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 the Operating Assets 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 July 11, 2003.

ADDRESSES: Direct all written comments to Diana Hynek, Departmental 
Paperwork Clearance Officer, Office of the Chief Information Officer, 
Department of Commerce, Room 6625, 14th and Constitution Avenue, NW., 
Washington, DC 20230, or via the Internet at [email protected], ((202) 
482-0266).

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instruments and instructions 
should be directed to: David H. Galler, U.S. Department of Commerce, 
Bureau of Economic Analysis, BE-49(NI), Washington, DC 20230, or via 
the Internet at [email protected], ((202) 606-9835).

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 surveys collect identification 
information on the U.S. business being established or acquired and on 
the new foreign owner, information on the cost of the investment and 
source of funding, and limited financial and operating data for the 
newly established or acquired entity. The data are needed to measure 
the amount of new foreign direct investment in the United States, 
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.
    The BE-13 survey is being revised, to add an item on the number of 
U.S. affiliates included in the consolidated report that will assist in 
verifying the accuracy of the reported data. No changes are proposed 
for Form BE-14.

II. Method of Collection

    Form BE-13 must be filed by every U.S. business with over $3 
million of assets or cost of investment, 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. A BE-13 
Supplement C--Exemption Claim--must be filed for transactions that do 
not meet either of the reporting thresholds. Form BE-14 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. A BE-14 is not filed, however, if a 
U.S. person files a BE-13 relating to the establishment or acquisition 
of the U.S. business enterprise by a foreign person.

III. Data

    OMB Number: 0608-0035.
    Form Numbers: BE-13/BE-14
    Type of Review: Regular submission.
    Affected Public: Businesses or other for-profit organizations.
    Estimated Number of Respondents: 600 annually.
    Estimated Time Per Response: 1\1/2\ hours.
    Estimated Total Annual Burden: 900 hours.
    Estimated Total Annual Cost: $27,000 (based on an estimated 
reporting burden of 900 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: May 6, 2003.
Madeleine Clayton,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. 03-11688 Filed 5-9-03; 8:45 am]
BILLING CODE 3510-06-P