[Federal Register Volume 85, Number 169 (Monday, August 31, 2020)]
[Notices]
[Pages 53905-53906]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-19147]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Provisions Pertaining to Certain Investments 
in the United States by Foreign Persons and Provisions Pertaining to 
Certain Transactions by Foreign Persons Involving Real Estate in the 
United States

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before September 30, 2020 to 
be assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    Title: Provisions Pertaining to Certain Investments in the United 
States by Foreign Persons and Provisions Pertaining to Certain 
Transactions by Foreign Persons Involving Real Estate in the United 
States.
    OMB Control Number: 1505-0121.
    Type of Review: Extension without change of currently approved 
collection.
    Description: Section 721 of the Defense Production Act of 1950, as 
amended (section 721), provides the President, acting through the 
Committee on Foreign Investment in the United
    States (CFIUS or the Committee), authority to review certain 
foreign investments in the United States in order to determine the 
effects of those transactions on the national security of the United 
States. In August 2018, section 721 was amended by the Foreign 
Investment Risk Review Modernization Act of 2018 (FIRRMA), Subtitle A 
of Title XVII, Public Law 115-232, 132 Stat. 2173 (Aug. 13, 2018). 
FIRRMA maintains CFIUS's jurisdiction over any merger, acquisition, or 
takeover that could result in foreign control of any U.S. business, and 
broadens the authorities of the President and CFIUS under section 721 
to review and take action to address any national security concerns 
arising from certain noncontrolling investments and certain real estate 
transactions involving foreign persons.
    Executive Order 13456, 73 FR 4677 (Jan. 23, 2008), directs the 
Secretary of the Treasury to issue regulations implementing section 
721. Most recently, on January 17, 2020, the Department of the Treasury 
issued final regulations (85 FR 3112 and 85 FR 3158) implementing 
FIRRMA, including information collections related to notices and 
declarations filed with or submitted to the Committee regarding 
transactions that could result in foreign control of a U.S. business, 
certain noncontrolling investments and certain

[[Page 53906]]

real estate transactions involving foreign persons.
    In May 2020, the Department of the Treasury launched a new CFIUS 
Case Management System, featuring an online public portal for external 
parties to submit declarations and file notices with CFIUS in a 
standard form. As of June 1, 2020 use of this online system is now 
mandatory for all CFIUS submissions and filings. The only substantive 
change related to the information required in order for CFIUS to review 
a declaration or notice is the requirement that parties use the new 
online public portal to submit declarations and file notices, instead 
of by email.
    Form: None.
    Affected Public: Individuals and entities.
    Estimated Number of Respondents: 1,100.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 1,100.
    Estimated Time per Response: Varies from 15-20 hours per 
declaration and 116-130 hours per notice.
    Estimated Total Annual Burden Hours: 57,400 hours.

    (Authority: 44 U.S.C. 3501 et seq.)

    Dated: August 26, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020-19147 Filed 8-28-20; 8:45 am]
BILLING CODE 4810-25-P