Notice2022-19899
Agency Information Collection Activities; Proposed Collection; 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
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 15, 2022
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to comment on the proposed information collections listed below, in accordance with the Paperwork Reduction Act of 1995.
Full Text
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<title>Federal Register, Volume 87 Issue 178 (Thursday, September 15, 2022)</title>
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[Federal Register Volume 87, Number 178 (Thursday, September 15, 2022)]
[Notices]
[Page 56752]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-19899]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Proposed Collection;
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, Department of the Treasury.
ACTION: Notice of information collection; request for comment.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other federal agencies to comment on the proposed
information collections listed below, in accordance with the Paperwork
Reduction Act of 1995.
DATES: Comments should be received on or before November 14, 2022 to be
assured of consideration.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestions for
reducing the burden, to Treasury PRA Clearance Officer, 1750
Pennsylvania Ave. NW, Suite 8100, Washington, DC 20220, or email at
<a href="/cdn-cgi/l/email-protection#58080a19182c2a3d392b2d2a21763f372e"><span class="__cf_email__" data-cfemail="4414160504303621253731363d6a232b32">[email protected]</span></a>. Copies of the submissions may be obtained by emailing
<a href="/cdn-cgi/l/email-protection#febdb8b7abadbe8a8c9b9f8d8b8c87d0999188"><span class="__cf_email__" data-cfemail="ffbcb9b6aaacbf8b8d9a9e8c8a8d86d1989089">[email protected]</span></a>, calling (202) 622-1860, or viewing the entire
information collection request at <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
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 a 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 non-
controlling 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. The Department of the Treasury issued final regulations (85 FR
3112 and 85 FR 3158) on January 17, 2020, and subsequent amendments to
the final regulations in 2020 and 2022 (85 FR 8747, 85 FR 45311, 85 FR
57124, and 87 FR 731), 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 non-controlling investments and
certain real estate transactions involving foreign persons.
The Department of the Treasury maintains a CFIUS Case Management
System, featuring an online public portal for external parties to
submit declarations and file notices with CFIUS in a standard form. Use
of this online system is mandatory for all CFIUS submissions and
filings.
Form Number: 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.
Request for Comments: Comments submitted in response to this notice
will be summarized and included in the request for Office of Management
and Budget approval. All comments will become a matter of public
record. Comments are invited on: (a) whether the collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information shall have practical
utility; (b) the accuracy of the agency's estimate of the burden of the
collection of information; (c) ways to enhance the quality, utility,
and clarity of the information to be collected; (d) ways to minimize
the burden of the collection of information on respondents, including
through the use of technology; and (e) estimates of capital or start-up
costs and costs of operation, maintenance, and purchase of services
required to provide information.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022-19899 Filed 9-14-22; 8:45 am]
BILLING CODE 4810-AK-P
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