Direct Investment Surveys: Alignment of Regulations With Current Practices, 19282-19284 [2011-7769]
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19282
Federal Register / Vol. 76, No. 67 / Thursday, April 7, 2011 / Proposed Rules
List of Subjects in 14 CFR Part 71
Airspace, Incorporation by reference,
Navigation (air).
The Proposed Amendment
Accordingly, pursuant to the
authority delegated to me, the Federal
Aviation Administration proposes to
amend 14 CFR part 71 as follows:
PART 71—DESIGNATION OF CLASS A,
B, C, D AND E AIRSPACE AREAS; AIR
TRAFFIC SERVICE ROUTES; AND
REPORTING POINTS
1. The authority citation for 14 CFR
part 71 continues to read as follows:
Authority: 49 U.S.C. 106(g), 40103, 40113,
40120; E.O. 10854, 24 FR 9565, 3 CFR, 1959–
1963 Comp., p. 389.
§ 71.1
[Amended]
2. The incorporation by reference in
14 CFR Part 71.1 of the Federal Aviation
Administration Order 7400.9U,
Airspace Designations and Reporting
Points, dated August 18, 2010, and
effective September 15, 2010 is
amended as follows:
Paragraph 5000
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ANM MT D Bozeman, MT [Amended]
Gallatin Field Airport
(Lat. 45°46′39″ N., long. 111°09′07″ W.)
That airspace extending upward from the
surface to and including 7,000 feet MSL
within a 4.4-mile radius of Gallatin Field
Airport. This Class D airspace area is
effective during the specific dates and times
established in advance by a Notice to
Airmen. The effective date and time will
thereafter be continuously published in the
Airport/Facility Directory.
Paragraph 6002 Class E airspace designated
as Surface Areas.
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*
ANM MT E2 Bozeman, MT [Amended]
Gallatin Field Airport
(Lat. 45°46′39″ N., long. 111°09′07″ W.)
Within a 4.4-mile radius of Gallatin Field
Airport. This Class E airspace area is effective
during the specific dates and times
established in advance by a Notice to
Airmen. The effective date and time will
thereafter be continuously published in the
Airport/Facility Directory.
srobinson on DSKHWCL6B1PROD with PROPOSALS
Paragraph 6004 Class E airspace designated
as an extension to a Class D Surface Area.
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ANM MT E4 Bozeman, MT [Modified]
Gallatin Field Airport
(Lat. 45°46′39″ N., long. 111°09′07″ W.)
That airspace extending upward from the
surface within 3 miles each side of the 316°
bearing of Gallatin Field Airport extending
from the 4.4-mile radius of the airport to 15.5
miles northwest of the airport, and that
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Paragraph 6005 Class E airspace areas
extending upward from 700 feet or more
above the surface of the earth.
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ANM MT E5 Bozeman, MT [Amended]
Gallatin Field Airport
(Lat. 45°46′39″ N., long. 111°09′07″ W.)
That airspace extending upward from 700
feet above the surface within a 13.5-mile
radius of Gallatin Field Airport, and within
4.8 miles northeast and 13 miles southwest
of the 316° bearing of the airport extending
from the 13.5-mile radius to 24.4 miles
northwest of Gallatin Field Airport.
Issued in Seattle, Washington, on March
28, 2011.
John Warner,
Manager, Operations Support Group, Western
Service Center.
[FR Doc. 2011–8311 Filed 4–6–11; 8:45 am]
BILLING CODE 4910–13–P
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Class D airspace.
*
airspace 2.4 miles each side of the 212°
bearing of the Gallatin Field Airport
extending from the 4.4-mile radius of the
airport to 7 miles southwest of the airport.
15 CFR Part 806
[Docket No. 110321207–1206–01 0691–AA78
Direct Investment Surveys: Alignment
of Regulations With Current Practices
Bureau of Economic Analysis,
Commerce.
ACTION: Notice of proposed rulemaking.
AGENCY:
The Bureau of Economic
Analysis (BEA) proposes to amend its
regulations related to direct investment
surveys. Specifically, BEA proposes to
eliminate reporting requirements for
several direct investment surveys that
are no longer necessary because the
information is collected on other
surveys of direct investment conducted
by BEA. The surveys that would be
eliminated from the regulations are: a
survey of foreign direct investment in
the U.S. seafood industry (BE–21), two
schedules of expenditures for property,
plant, and equipment of U.S. direct
investment abroad (BE–133B and BE–
133C), and two industry classification
questionnaires (BE–507 and BE–607). In
addition, BEA proposes to eliminate the
reporting requirements for two surveys
of new foreign direct investment in the
United States (BE–13 and BE–14). BEA
suspended collection of these surveys in
2009 in order to align its international
survey program with available
resources. BEA also proposes other
minor revisions to its regulations to
eliminate outdated information.
SUMMARY:
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Sfmt 4702
Comments on this proposed rule
will receive consideration if submitted
in writing on or before June 6, 2011.
ADDRESSES: You may submit comments,
identified by RIN 0691–AA78, and
referencing the agency name (Bureau of
Economic Analysis), by any of the
following methods:
• Federal eRulemaking Portal: https://
www.regulations.gov. Follow the
instructions for submitting comments.
For agency, select ‘‘Commerce
Department—all.’’
• E-mail: David.Galler@bea.gov.
• Fax: Office of the Chief, Direct
Investment Division, (202) 606–5318.
• Mail: Office of the Chief, Direct
Investment Division, U.S. Department of
Commerce, Bureau of Economic
Analysis, BE–50, Washington, DC
20230.
• Hand Delivery/Courier: Office of the
Chief, Direct Investment Division, U.S.
Department of Commerce, Bureau of
Economic Analysis, BE–50, Shipping
and Receiving, Section M100, 1441 L
Street, NW., Washington, DC 20005.
Written comments regarding the
burden-hour estimates or other aspects
of the collection-of-information
requirements contained in the proposed
rule should be sent both to BEA,
through any of the methods above, and
to the Office of Management and
Budget, O.I.R.A., Paperwork Reduction
Project 0608–0024, 0608–0030, 0608–
0032, 0608–0035, and 0608–0050,
Attention PRA Desk Officer for BEA, via
e-mail at pbugg@omb.eop.gov, or by
FAX at (202) 395–7245.
Public Inspection: All comments
received are a part of the public record
and will generally be posted to https://
www.regulations.gov without change.
All personal identifying information (for
example, name, address, etc.)
voluntarily submitted by the
commentator may be publicly
accessible. Do not submit confidential
business information or otherwise
sensitive or protected information. BEA
will accept anonymous comments.
FOR FURTHER INFORMATION CONTACT:
David H. Galler, Chief, Direct
Investment Division (BE–50), Bureau of
Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230;
phone (202) 606–9835.
SUPPLEMENTARY INFORMATION: This
proposed rule would amend 15 CFR
part 806 by revising Sections 806.14,
806.15, and 806.18 to remove the
reporting requirements for several direct
investment surveys. The surveys are:
BE–13, Initial Report on a Foreign
Person’s Direct or Indirect
Acquisition, Establishment, or
Purchase of the Operating Assets, of a
DATES:
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Federal Register / Vol. 76, No. 67 / Thursday, April 7, 2011 / Proposed Rules
srobinson on DSKHWCL6B1PROD with PROPOSALS
U.S. Business Enterprise, Including
Real Estate
BE–14, 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
BE–21, Survey of Foreign Direct
Investment in U.S. Business
Enterprises Engaged in the Processing,
Packaging, or Wholesale Distribution
of Fish or Seafoods
BE–133B, Follow-up Schedule of
Expenditures for Property, Plant, and
Equipment of U.S. Direct Investment
Abroad
BE–133C, Schedule of Expenditures for
Property, Plant, and Equipment of
U.S. Direct Investment Abroad
BE–507, Industry Classification
Questionnaire
BE–607, Industry Classification
Questionnaire
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 the
cancellation of the reporting
requirements for these surveys,
consistent with the Paperwork
Reduction Act of 1995.
BEA is proposing to remove the
reporting requirements for the BE–13
and the BE–14 surveys which were
suspended in 2009 in order to align its
international survey program with
available resources. The surveys had
been used to 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 had been used to
measure the amount of new foreign
direct investment in the United States
and assess its impact on the U.S.
economy. BEA continues to identify
newly acquired or established U.S.
affiliates of foreign investors and bring
them into its international survey
program through the BE–12, BE–15, and
BE–605 surveys, which are the
benchmark, annual, and quarterly
surveys of foreign direct investment in
the United States, respectively, but they
are not separately identified in BEA’s
published statistics.
BEA is proposing to eliminate the
regulations for the BE–21, BE–133B,
BE–133C, BE–507, and BE–607 surveys
since they have not been conducted in
many years and are no longer necessary
because the information is collected on
other surveys of direct investment
conducted by BEA.
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In addition, BEA proposes other
minor revisions to its regulations to
eliminate outdated information. These
revisions eliminate references to
outdated information regarding BE–10
survey forms and inactive OMB control
numbers.
Executive Order 12866
This proposed rule has been
determined to be not significant for
purposes of E.O. 12866.
Executive Order 13132
This proposed rule does not contain
policies with Federalism implications as
that term is defined in E.O. 13132.
Paperwork Reduction Act
The Office of Management and Budget
(OMB) approvals under the Paperwork
Reduction Act for the seven surveys that
BEA is proposing to eliminate have
expired. The information collection
approval for the BE–13 and BE–14
(under OMB control number 0608–
0035) expired on August 31, 2009; the
BE–21 approval (OMB control number
0608–0050) expired September 30,
1983; the BE–133B and BE–133C (OMB
control number 0608–0024) expired
December 31, 1994; the BE–507
approval (OMB control number 0608–
0032) expired April 30, 1997; and the
BE–607 approval (OMB control number
0608–0030) expired on May 31, 1991.
Regulatory Flexibility Act
The Chief Counsel for Regulation,
Department of Commerce, has certified
to the Chief Counsel for Advocacy,
Small Business Administration, under
the provisions of the Regulatory
Flexibility Act (5 U.S.C. 605(b)), that
this proposed rulemaking, if adopted,
will not have a significant economic
impact on a substantial number of small
entities. Entities that have foreign
affiliates, that are at least ten percent
foreign-owned, or that assisted or
intervened in the acquisition of a U.S.
business enterprise by a foreign person
would have been subject to the
reporting requirements that are
proposed to be eliminated in this
rulemaking. However, BEA does not
currently collect data that enables BEA
to determine how many of these entities
would be considered ‘‘small’’ under the
Small Business Administration’s size
standards. Although BEA does not know
the number of small entities that would
have been subject to the reporting
requirements being eliminated by this
rulemaking, BEA has determined that
this action would not have a significant
economic impact as this rule proposes
to merely remove references to the
surveys that are no longer in use. The
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19283
collection of the BE–13 and BE–14
surveys was suspended in 2009, and the
BE–21, BE–133B, BE–133C, BE–507,
and BE–607 surveys have not been
conducted in many years. In addition,
the information collection approvals for
these surveys have expired and are no
longer part of the inventory of active
collections of information maintained
by the Office of Management and
Budget. Because there would be no
impact to small entities as a result of
this change to the regulations, the Chief
Counsel certified that this proposed
rulemaking, if adopted, will not have a
significant economic impact on a
substantial number of small entities.
List of Subjects in 15 CFR Part 806
Economic statistics, Foreign
investment in the United States,
International transactions, Penalties,
Reporting and recordkeeping
requirements.
Dated: March 16, 2011.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
For reasons set forth in the preamble,
BEA proposes to amend 15 CFR part 806
as follows:
PART 806—DIRECT INVESTMENT
SURVEYS
1. The authority citation for 15 CFR
part 806 continues to read as follows:
Authority: 5 U.S.C. 301; 22 U.S.C. 3101–
3108; E.O. 11961 (3 CFR, 1977 Comp., p. 86),
as amended by E.O. 12318 (3 CFR, 1981
Comp., p. 173), and E.O. 12518 (3 CFR, 1985
Comp., p. 348).
2. Amend § 806.14 to revise
paragraphs (d), (f) and (g) to read as
follows:
§ 806.14
U.S. direct investment abroad.
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*
(d) Exemption levels. Exemption
levels for individual report forms will
normally be stated in terms of total
assets, net sales or gross operating
revenues excluding sales taxes, and net
income after income taxes, whether
positive or negative, although different
or special criteria may be specified for
a given report form. If any one of the
three items exceeds the exemption level
and if the statistical data requested in
the report are applicable to the entity
being reported, then a report must be
filed. Since these items may not have to
be reported on a given form, a U.S.
Reporter claiming exemption from filing
a given form must furnish a certification
as to the levels of the items on which
the exemption is based or must certify
that the data requested are not
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srobinson on DSKHWCL6B1PROD with PROPOSALS
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Federal Register / Vol. 76, No. 67 / Thursday, April 7, 2011 / Proposed Rules
applicable. The exemption-level tests
shall be applied as outlined below.
(1) For quarterly report forms, as to
the assets test reports are required
beginning with the quarter in which
total assets exceed the exemption level;
as to the test for sales (revenues) and net
income after income taxes, reports are
required for each quarter of a year in
which the annual amount of these items
exceeds or can be expected to exceed,
the exemption level. Quarterly reports
for a year may be required retroactively
when it is determined that the
exemption level has been exceeded.
(2) For report forms requesting annual
data after the close of the year in
question, the test shall be whether any
one of the three items exceeded the
exemption level during that year.
If total assets, sales or net income
exceed the exemption level in a given
year, it is deemed that the exemption
level will also be exceeded in the
following year.
The number and title of each report
form, its exemption level, and other
reporting criteria, if any, pertaining to it,
are given below.
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(f) Annual report forms. (1)
[Reserved.]
(2) [Reserved.]
(3) BE–11—Annual Survey of U.S.
Direct Investment Abroad: A report,
consisting of Form BE–11A and Form(s)
BE–11B, BE–11C, BE–11D and/or BE–
11E, is required of each U.S. Reporter
that, at the end of the Reporter’s fiscal
year, had a foreign affiliate reportable on
Form BE–11B, BE–11C, BE–11D or BE–
11E. Forms required and the criteria for
reporting on each are as follows:
(i) Form BE–11A (Report for U.S.
Reporter) must be filed by each U.S.
person having a foreign affiliate
reportable on Form BE–11B, BE–11C,
BE–11D or BE–11E. If the U.S. Reporter
is a corporation, Form BE–11A is
required to cover the fully consolidated
U.S. domestic business enterprise.
(A) If for a U.S. Reporter any one of
the following three items—total assets,
sales or gross operating revenues
excluding sales taxes, or net income
after provision for U.S. income taxes—
was greater than $300 million (positive
or negative) at the end of, or for, the
Reporter’s fiscal year, the U.S. Reporter
must file a complete Form BE–11A. It
must also file a Form BE–11B, BE–11C,
BE–11D or BE–11E, as applicable, for
each nonexempt foreign affiliate.
(B) If for a U.S. Reporter no one of the
three items listed in paragraph
(f)(3)(i)(A) of this section was greater
than $300 million (positive or negative)
at the end of, or for, the Reporter’s fiscal
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year, the U.S. Reporter is required to file
on Form BE–11A only items 1 through
26 and Part IV. It must also file a Form
BE–11B, BE–11C, BE–11D, or BE–11E as
applicable, for each nonexempt foreign
affiliate.
(ii) Forms BE–11B, BE–11C, BE–11D,
and BE–11E (Report for Foreign
Affiliate).
(A) Form BE–11B must be reported for
each majority-owned foreign affiliate,
whether held directly or indirectly, for
which any one of the following three
items—total assets, sales or gross
operating revenues excluding sales
taxes, or net income after provision for
foreign income taxes—was greater than
$60 million (positive or negative) at the
end of, or for, the affiliate’s fiscal year,
unless the foreign affiliate is selected to
be reported on Form BE–11E.
(B) Form BE–11C must be reported for
each minority-owned foreign affiliate,
whether held directly or indirectly, for
which any one of the three items listed
in paragraph (f)(3)(ii)(A) of this section
was greater than $60 million (positive or
negative) at the end of, or for, the
affiliate’s fiscal year.
(C) Form BE–11D must be reported for
each majority- and minority-owned
foreign affiliate, whether held directly
or indirectly, established or acquired
during the year for which any one of the
three items listed in paragraph
(f)(3)(ii)(A) of this section was greater
than $25 million (positive or negative),
but for which no one of these items was
greater than $60 million (positive or
negative), at the end of, or for, the
affiliate’s fiscal year. Form BE–11D is a
schedule; a U.S. Reporter would submit
one or more pages of the form
depending on the number of affiliates
that are required to be filed on this form.
(D) Form BE–11E must be reported for
each foreign affiliate that is selected by
BEA to be reported on this form in lieu
of Form BE–11B. BEA statistically
divides into panels, affiliates for which
any one of the three items listed in
paragraph (f)(3)(ii)(A) of this section was
greater than $60 million (positive or
negative), but for which no one of these
items was greater than $300 million
(positive or negative), at the end of, or
for, the affiliate’s fiscal year. At the
direction of BEA, U.S. Reporters would
alternate reporting these affiliates on
Form BE–11B and Form BE–11E.
(iii) Based on the preceding, an
affiliate is exempt from being reported
if none of the three items listed in
paragraph (f)(3)(ii)(A) of this section
exceeds $60 million (positive or
negative). However, affiliates that were
established or acquired during the year
and for which at least one of the items
was greater than $25 million but not
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Sfmt 9990
over $60 million must be listed, and key
items reported, on schedule-type Form
BE–11D.
(iv) Notwithstanding paragraph
(f)(3)(iii) of this section, a Form BE–11B,
BE–11C, or BE–11E must be filed for a
foreign affiliate of the U.S. Reporter that
owns another non-exempt foreign
affiliate of that U.S. Reporter, even if the
foreign affiliate parent is otherwise
exempt. That is, all affiliates upward in
the chain of ownership must be
reported.
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*
(g) Other report forms. (1) [Reserved.]
(2) BE–10–Benchmark Survey of U.S.
Direct Investment Abroad: Section 4(b)
of the Act (22 U.S.C. 3103) provides that
a comprehensive benchmark survey of
U.S. direct investment abroad will be
conducted in 1982, 1989, and every fifth
year thereafter. Exemption levels,
specific requirements for, and the year
of coverage of, a given BE–10 survey
may be found in § 806.16.
*
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*
3. Section 806.15(j) is revised to read
as follows:
§ 806.15 Foreign direct investment in the
United States.
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(j) Other report forms. (1) [Reserved.]
(2) BE–12—Benchmark Survey of
Foreign Direct Investment in the United
States: Section 4b of the Act (22 U.S.C.
3103) provides that a comprehensive
benchmark survey of foreign direct
investment in the United States shall be
conducted in 1980, 1987, and every fifth
year thereafter. The survey is referred to
as the ‘‘BE–12.’’ Exemption levels,
specific requirements for, and the year
of coverage of, a given BE–12 Survey
may be found in § 806.17.
*
*
*
*
*
4. Section 806.18(b) is revised to read
as follows:
§ 806.18 OMB control numbers assigned
to the Paperwork Reduction Act.
*
*
*
(b) Display.
*
*
15 CFR section where
identified and described
Current OMB
Control No.
806.1 through 806.17 .............
*
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0608–0004
0009
0034
0042
0049
0053
*
[FR Doc. 2011–7769 Filed 4–6–11; 8:45 am]
BILLING CODE 3510–06–P
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]]>Agencies
[Federal Register Volume 76, Number 67 (Thursday, April 7, 2011)]
[Proposed Rules]
[Pages 19282-19284]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-7769]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
15 CFR Part 806
[Docket No. 110321207-1206-01 0691-AA78
Direct Investment Surveys: Alignment of Regulations With Current
Practices
AGENCY: Bureau of Economic Analysis, Commerce.
ACTION: Notice of proposed rulemaking.
-----------------------------------------------------------------------
SUMMARY: The Bureau of Economic Analysis (BEA) proposes to amend its
regulations related to direct investment surveys. Specifically, BEA
proposes to eliminate reporting requirements for several direct
investment surveys that are no longer necessary because the information
is collected on other surveys of direct investment conducted by BEA.
The surveys that would be eliminated from the regulations are: a survey
of foreign direct investment in the U.S. seafood industry (BE-21), two
schedules of expenditures for property, plant, and equipment of U.S.
direct investment abroad (BE-133B and BE-133C), and two industry
classification questionnaires (BE-507 and BE-607). In addition, BEA
proposes to eliminate the reporting requirements for two surveys of new
foreign direct investment in the United States (BE-13 and BE-14). BEA
suspended collection of these surveys in 2009 in order to align its
international survey program with available resources. BEA also
proposes other minor revisions to its regulations to eliminate outdated
information.
DATES: Comments on this proposed rule will receive consideration if
submitted in writing on or before June 6, 2011.
ADDRESSES: You may submit comments, identified by RIN 0691-AA78, and
referencing the agency name (Bureau of Economic Analysis), by any of
the following methods:
Federal eRulemaking Portal: https://www.regulations.gov.
Follow the instructions for submitting comments. For agency, select
``Commerce Department--all.''
E-mail: David.Galler@bea.gov.
Fax: Office of the Chief, Direct Investment Division,
(202) 606-5318.
Mail: Office of the Chief, Direct Investment Division,
U.S. Department of Commerce, Bureau of Economic Analysis, BE-50,
Washington, DC 20230.
Hand Delivery/Courier: Office of the Chief, Direct
Investment Division, U.S. Department of Commerce, Bureau of Economic
Analysis, BE-50, Shipping and Receiving, Section M100, 1441 L Street,
NW., Washington, DC 20005.
Written comments regarding the burden-hour estimates or other
aspects of the collection-of-information requirements contained in the
proposed rule should be sent both to BEA, through any of the methods
above, and to the Office of Management and Budget, O.I.R.A., Paperwork
Reduction Project 0608-0024, 0608-0030, 0608-0032, 0608-0035, and 0608-
0050, Attention PRA Desk Officer for BEA, via e-mail at
pbugg@omb.eop.gov, or by FAX at (202) 395-7245.
Public Inspection: All comments received are a part of the public
record and will generally be posted to https://www.regulations.gov
without change. All personal identifying information (for example,
name, address, etc.) voluntarily submitted by the commentator may be
publicly accessible. Do not submit confidential business information or
otherwise sensitive or protected information. BEA will accept anonymous
comments.
FOR FURTHER INFORMATION CONTACT: David H. Galler, Chief, Direct
Investment Division (BE-50), Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, DC 20230; phone (202) 606-9835.
SUPPLEMENTARY INFORMATION: This proposed rule would amend 15 CFR part
806 by revising Sections 806.14, 806.15, and 806.18 to remove the
reporting requirements for several direct investment surveys. The
surveys are:
BE-13, Initial Report on a Foreign Person's Direct or Indirect
Acquisition, Establishment, or Purchase of the Operating Assets, of a
[[Page 19283]]
U.S. Business Enterprise, Including Real Estate
BE-14, 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
BE-21, Survey of Foreign Direct Investment in U.S. Business Enterprises
Engaged in the Processing, Packaging, or Wholesale Distribution of Fish
or Seafoods
BE-133B, Follow-up Schedule of Expenditures for Property, Plant, and
Equipment of U.S. Direct Investment Abroad
BE-133C, Schedule of Expenditures for Property, Plant, and Equipment of
U.S. Direct Investment Abroad
BE-507, Industry Classification Questionnaire
BE-607, Industry Classification Questionnaire
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 the cancellation of the reporting
requirements for these surveys, consistent with the Paperwork Reduction
Act of 1995.
BEA is proposing to remove the reporting requirements for the BE-13
and the BE-14 surveys which were suspended in 2009 in order to align
its international survey program with available resources. The surveys
had been used to 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 had been used to measure the amount of new
foreign direct investment in the United States and assess its impact on
the U.S. economy. BEA continues to identify newly acquired or
established U.S. affiliates of foreign investors and bring them into
its international survey program through the BE-12, BE-15, and BE-605
surveys, which are the benchmark, annual, and quarterly surveys of
foreign direct investment in the United States, respectively, but they
are not separately identified in BEA's published statistics.
BEA is proposing to eliminate the regulations for the BE-21, BE-
133B, BE-133C, BE-507, and BE-607 surveys since they have not been
conducted in many years and are no longer necessary because the
information is collected on other surveys of direct investment
conducted by BEA.
In addition, BEA proposes other minor revisions to its regulations
to eliminate outdated information. These revisions eliminate references
to outdated information regarding BE-10 survey forms and inactive OMB
control numbers.
Executive Order 12866
This proposed rule has been determined to be not significant for
purposes of E.O. 12866.
Executive Order 13132
This proposed rule does not contain policies with Federalism
implications as that term is defined in E.O. 13132.
Paperwork Reduction Act
The Office of Management and Budget (OMB) approvals under the
Paperwork Reduction Act for the seven surveys that BEA is proposing to
eliminate have expired. The information collection approval for the BE-
13 and BE-14 (under OMB control number 0608-0035) expired on August 31,
2009; the BE-21 approval (OMB control number 0608-0050) expired
September 30, 1983; the BE-133B and BE-133C (OMB control number 0608-
0024) expired December 31, 1994; the BE-507 approval (OMB control
number 0608-0032) expired April 30, 1997; and the BE-607 approval (OMB
control number 0608-0030) expired on May 31, 1991.
Regulatory Flexibility Act
The Chief Counsel for Regulation, Department of Commerce, has
certified to the Chief Counsel for Advocacy, Small Business
Administration, under the provisions of the Regulatory Flexibility Act
(5 U.S.C. 605(b)), that this proposed rulemaking, if adopted, will not
have a significant economic impact on a substantial number of small
entities. Entities that have foreign affiliates, that are at least ten
percent foreign-owned, or that assisted or intervened in the
acquisition of a U.S. business enterprise by a foreign person would
have been subject to the reporting requirements that are proposed to be
eliminated in this rulemaking. However, BEA does not currently collect
data that enables BEA to determine how many of these entities would be
considered ``small'' under the Small Business Administration's size
standards. Although BEA does not know the number of small entities that
would have been subject to the reporting requirements being eliminated
by this rulemaking, BEA has determined that this action would not have
a significant economic impact as this rule proposes to merely remove
references to the surveys that are no longer in use. The collection of
the BE-13 and BE-14 surveys was suspended in 2009, and the BE-21, BE-
133B, BE-133C, BE-507, and BE-607 surveys have not been conducted in
many years. In addition, the information collection approvals for these
surveys have expired and are no longer part of the inventory of active
collections of information maintained by the Office of Management and
Budget. Because there would be no impact to small entities as a result
of this change to the regulations, the Chief Counsel certified that
this proposed rulemaking, if adopted, will not have a significant
economic impact on a substantial number of small entities.
List of Subjects in 15 CFR Part 806
Economic statistics, Foreign investment in the United States,
International transactions, Penalties, Reporting and recordkeeping
requirements.
Dated: March 16, 2011.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
For reasons set forth in the preamble, BEA proposes to amend 15 CFR
part 806 as follows:
PART 806--DIRECT INVESTMENT SURVEYS
1. The authority citation for 15 CFR part 806 continues to read as
follows:
Authority: 5 U.S.C. 301; 22 U.S.C. 3101-3108; E.O. 11961 (3
CFR, 1977 Comp., p. 86), as amended by E.O. 12318 (3 CFR, 1981
Comp., p. 173), and E.O. 12518 (3 CFR, 1985 Comp., p. 348).
2. Amend Sec. 806.14 to revise paragraphs (d), (f) and (g) to read
as follows:
Sec. 806.14 U.S. direct investment abroad.
* * * * *
(d) Exemption levels. Exemption levels for individual report forms
will normally be stated in terms of total assets, net sales or gross
operating revenues excluding sales taxes, and net income after income
taxes, whether positive or negative, although different or special
criteria may be specified for a given report form. If any one of the
three items exceeds the exemption level and if the statistical data
requested in the report are applicable to the entity being reported,
then a report must be filed. Since these items may not have to be
reported on a given form, a U.S. Reporter claiming exemption from
filing a given form must furnish a certification as to the levels of
the items on which the exemption is based or must certify that the data
requested are not
[[Page 19284]]
applicable. The exemption-level tests shall be applied as outlined
below.
(1) For quarterly report forms, as to the assets test reports are
required beginning with the quarter in which total assets exceed the
exemption level; as to the test for sales (revenues) and net income
after income taxes, reports are required for each quarter of a year in
which the annual amount of these items exceeds or can be expected to
exceed, the exemption level. Quarterly reports for a year may be
required retroactively when it is determined that the exemption level
has been exceeded.
(2) For report forms requesting annual data after the close of the
year in question, the test shall be whether any one of the three items
exceeded the exemption level during that year.
If total assets, sales or net income exceed the exemption level in
a given year, it is deemed that the exemption level will also be
exceeded in the following year.
The number and title of each report form, its exemption level, and
other reporting criteria, if any, pertaining to it, are given below.
* * * * *
(f) Annual report forms. (1) [Reserved.]
(2) [Reserved.]
(3) BE-11--Annual Survey of U.S. Direct Investment Abroad: A
report, consisting of Form BE-11A and Form(s) BE-11B, BE-11C, BE-11D
and/or BE-11E, is required of each U.S. Reporter that, at the end of
the Reporter's fiscal year, had a foreign affiliate reportable on Form
BE-11B, BE-11C, BE-11D or BE-11E. Forms required and the criteria for
reporting on each are as follows:
(i) Form BE-11A (Report for U.S. Reporter) must be filed by each
U.S. person having a foreign affiliate reportable on Form BE-11B, BE-
11C, BE-11D or BE-11E. If the U.S. Reporter is a corporation, Form BE-
11A is required to cover the fully consolidated U.S. domestic business
enterprise.
(A) If for a U.S. Reporter any one of the following three items--
total assets, sales or gross operating revenues excluding sales taxes,
or net income after provision for U.S. income taxes--was greater than
$300 million (positive or negative) at the end of, or for, the
Reporter's fiscal year, the U.S. Reporter must file a complete Form BE-
11A. It must also file a Form BE-11B, BE-11C, BE-11D or BE-11E, as
applicable, for each nonexempt foreign affiliate.
(B) If for a U.S. Reporter no one of the three items listed in
paragraph (f)(3)(i)(A) of this section was greater than $300 million
(positive or negative) at the end of, or for, the Reporter's fiscal
year, the U.S. Reporter is required to file on Form BE-11A only items 1
through 26 and Part IV. It must also file a Form BE-11B, BE-11C, BE-
11D, or BE-11E as applicable, for each nonexempt foreign affiliate.
(ii) Forms BE-11B, BE-11C, BE-11D, and BE-11E (Report for Foreign
Affiliate).
(A) Form BE-11B must be reported for each majority-owned foreign
affiliate, whether held directly or indirectly, for which any one of
the following three items--total assets, sales or gross operating
revenues excluding sales taxes, or net income after provision for
foreign income taxes--was greater than $60 million (positive or
negative) at the end of, or for, the affiliate's fiscal year, unless
the foreign affiliate is selected to be reported on Form BE-11E.
(B) Form BE-11C must be reported for each minority-owned foreign
affiliate, whether held directly or indirectly, for which any one of
the three items listed in paragraph (f)(3)(ii)(A) of this section was
greater than $60 million (positive or negative) at the end of, or for,
the affiliate's fiscal year.
(C) Form BE-11D must be reported for each majority- and minority-
owned foreign affiliate, whether held directly or indirectly,
established or acquired during the year for which any one of the three
items listed in paragraph (f)(3)(ii)(A) of this section was greater
than $25 million (positive or negative), but for which no one of these
items was greater than $60 million (positive or negative), at the end
of, or for, the affiliate's fiscal year. Form BE-11D is a schedule; a
U.S. Reporter would submit one or more pages of the form depending on
the number of affiliates that are required to be filed on this form.
(D) Form BE-11E must be reported for each foreign affiliate that is
selected by BEA to be reported on this form in lieu of Form BE-11B. BEA
statistically divides into panels, affiliates for which any one of the
three items listed in paragraph (f)(3)(ii)(A) of this section was
greater than $60 million (positive or negative), but for which no one
of these items was greater than $300 million (positive or negative), at
the end of, or for, the affiliate's fiscal year. At the direction of
BEA, U.S. Reporters would alternate reporting these affiliates on Form
BE-11B and Form BE-11E.
(iii) Based on the preceding, an affiliate is exempt from being
reported if none of the three items listed in paragraph (f)(3)(ii)(A)
of this section exceeds $60 million (positive or negative). However,
affiliates that were established or acquired during the year and for
which at least one of the items was greater than $25 million but not
over $60 million must be listed, and key items reported, on schedule-
type Form BE-11D.
(iv) Notwithstanding paragraph (f)(3)(iii) of this section, a Form
BE-11B, BE-11C, or BE-11E must be filed for a foreign affiliate of the
U.S. Reporter that owns another non-exempt foreign affiliate of that
U.S. Reporter, even if the foreign affiliate parent is otherwise
exempt. That is, all affiliates upward in the chain of ownership must
be reported.
* * * * *
(g) Other report forms. (1) [Reserved.]
(2) BE-10-Benchmark Survey of U.S. Direct Investment Abroad:
Section 4(b) of the Act (22 U.S.C. 3103) provides that a comprehensive
benchmark survey of U.S. direct investment abroad will be conducted in
1982, 1989, and every fifth year thereafter. Exemption levels, specific
requirements for, and the year of coverage of, a given BE-10 survey may
be found in Sec. 806.16.
* * * * *
3. Section 806.15(j) is revised to read as follows:
Sec. 806.15 Foreign direct investment in the United States.
* * * * *
(j) Other report forms. (1) [Reserved.]
(2) BE-12--Benchmark Survey of Foreign Direct Investment in the
United States: Section 4b of the Act (22 U.S.C. 3103) provides that a
comprehensive benchmark survey of foreign direct investment in the
United States shall be conducted in 1980, 1987, and every fifth year
thereafter. The survey is referred to as the ``BE-12.'' Exemption
levels, specific requirements for, and the year of coverage of, a given
BE-12 Survey may be found in Sec. 806.17.
* * * * *
4. Section 806.18(b) is revised to read as follows:
Sec. 806.18 OMB control numbers assigned to the Paperwork Reduction
Act.
* * * * *
(b) Display.
------------------------------------------------------------------------
Current OMB
15 CFR section where identified and described Control No.
------------------------------------------------------------------------
806.1 through 806.17...................................... 0608-0004
0009
0034
0042
0049
0053
* * * * *
------------------------------------------------------------------------
[FR Doc. 2011-7769 Filed 4-6-11; 8:45 am]
BILLING CODE 3510-06-P
