03-18618. Agency Report Form Under OMB Review

AGENCY:

Overseas Private Investment Corporation (OPIC).

ACTION:

Request for comments.

SUMMARY:

Under the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35), agencies are required to publish a Notice in the Federal Register notifying the public that the Agency has prepared an information collection request for OMB review and approval and has requested public review and comment on the submission. OPIC published its first Federal Register notice on this information collection request on May 16, 2003, in Vol 68, No. 95 FR 26679, at which time a 60-day comment period was announced. This comment period ended July 17, 2003. No comments were received in response to this notice.

This information collection submission has now been submitted to OMB for emergency processing review. Comments are again being solicited on the need for the information, its practical utility, the accuracy of the Agency's burden estimate, and on ways to minimize the reporting burden, including automated collection techniques and uses of other forms of technology. The proposed form, OMB control number 3420-0011, under review is summarized below.

DATES:

Comments must be received on or before August 21, 2003.

ADDRESSES:

Copies of the subject form and the request for review prepared for submission to OMB may be obtained from the Agency submitting officer. Comments on the form should be submitted to the OMB reviewer.

FOR FURTHER INFORMATION CONTACT:

OPIC Agency Submitting Officer: Bruce I. Campbell, Records Management Officer, Overseas Private Investment Corporation, 1100 New York Avenue, NW., Washington, DC 20527; 202/336-8563.

OMB Reviewer: David Rostker, Office of Information and Regulatory Affairs, Office of Management and Budget, New Executive Office Building, Docket Library, Room 10102, 725 17th Street, NW., Washington, DC 20503; 202/395-3897.

Summary Form Under Review:

Type of Request: Revised form.

Title: Application for Political Risk Investment Insurance.

Form Number: OPIC-52.

Frequency of Use: Once per investor per project.

Type of Respondents: Business or other institution (except farms); individuals.

Standards Industrial Classification Codes: All.

Descriptions of Affected Public: U.S. companies or citizens investing overseas.

Reporting Hours: 7 hours per project.

Number of Responses: 150 per year.

Federal Cost: $28,350.

Authority for Information Collection: Sections 231, 234(a), 239(d), and 240A of the Foreign Assistance Act of 1961, as amended.

Abstract (Needs and Uses): The application is the principle document used by OPIC to determine the investor's and project's eligibility for political risk insurance, assess the environmental impact and the developmental effects of the project, measure the economic effects for the U.S. and the host country economy, and collect information for the insurance underwriting analysis.

Dated: July 17, 2003.

Eli Landy,

Senior Counsel, Administrative Affairs, Department of Legal Affairs.