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Tuesday,

May 16, 2006

Part V

Office of
Management and
Budget
North American Industry Classification
System—Revision for 2007; Notice
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28532 Federal Register / Vol. 71, No. 94 / Tuesday, May 16, 2006 / Notices

OFFICE OF MANAGEMENT AND development to reflect the growing subject NAICS07, telephone number:
BUDGET importance of this activity in the (202) 395–3095, fax number: (202) 395–
economy. Additional changes were 7245. Because of delays in the receipt of
North American Industry Classification recommended to more adequately align regular mail related to security
System—Revision for 2007 the activities of producers in screening, respondents are encouraged
agriculture; manufacturing; and to use electronic communications.
AGENCY: Executive Office of the
professional, technical, and scientific SUPPLEMENTARY INFORMATION: The
President, Office of Management and
services. March 11, 2005, Federal Register notice
Budget.
ACTION: Notice of final decisions. DATES: Effective Date: Federal statistical (1) summarized the background for the
establishment data published for proposed revisions to NAICS 2007 in
SUMMARY: Under 44 U.S.C. 3504(e), the reference years beginning on or after Part I; (2) contained a summary of
Office of Management and Budget January 1, 2007, should be published public comments in Part II; (3) detailed
(OMB) is announcing its final decisions using the 2007 NAICS United States the structure changes agreed upon by
for adoption of the North American Codes. Publication of a 2007 NAICS the three countries in Part III; and (4)
Industry Classification System (NAICS) United States Manual or supplement is provided a comprehensive listing of
revisions for 2007 as recommended by planned for January 2007. changes for national industries and their
the Economic Classification Policy ADDRESSES: You should send links to NAICS 2002 industries in Part
Committee (ECPC) in OMB’s notice for correspondence about the adoption and IV.
solicitation of comments published in implementation of the 2007 NAICS as In response to the ECPC
Part IV of the March 11, 2005, Federal shown in the March 11, 2005, Federal recommendations in the March 11,
Register (70 FR 12390–12399). In Register notice, and modified by 2005, Federal Register, the National
addition, responding to comments Attachments 1 and 2 of this notice, to: Association of Real Estate Investment
received on the ECPC recommendations, Katherine K. Wallman, Chief Trusts (NAREIT) submitted comments
OMB is adopting a classification change Statistician, Office of Management and to OMB requesting reconsideration of
for Real Estate Investment Trusts Budget, 10201 New Executive Office the ECPC recommendation regarding the
(REITs) that was not part of the ECPC’s Building, Washington, DC 20503, classification of REITs. In response, the
recommendations. After additional telephone number: (202) 395–3093, fax ECPC met on several occasions with
consultation with the National number: (202) 395–7245. All comments other interested agencies, including
Association of Real Estate Investment submitted in response to this notice will representatives from the Department of
Trusts, the agencies participating in the be made available to the public, the Treasury’s Office of Tax Analysis,
ECPC, and other interested agencies, including by posting them on OMB’s the Federal Reserve Board, and the
NAICS 525390, Real Estate Investment Web site. For this reason, please do not Statistics of Income Division at the
Trusts, will be deleted from the include in your comments information Internal Revenue Service to discuss the
classification and portions will be of a confidential nature, such as possible change in classification for
reclassified as follows: (1) Equity REITs sensitive personal information or REITs. OMB and the Bureau of
will be classified in the Real Estate proprietary information. You may send Economic Analysis also met with
Subsector in NAICS Industry Group comments via e-mail to representatives from NAREIT to discuss
5311, Lessors of Real Estate, under naics@omb.eop.gov with subject their request. Taking all of the
individual national industries based on NAICS07. Because of delays in the information into account, OMB decided
the content of the portfolio of real estate receipt of regular mail related to to change the classification of REITs.
operated by a particular REIT; and (2) security screening, respondents are OMB’s final decisions regarding
Mortgage REITs will remain classified in encouraged to use electronic revision of NAICS for 2007 are to adopt
the Finance Sector but will be moved communications. the proposal contained in the March 11,
from NAICS 525930 to NAICS 525990, You should address inquiries about 2005, Federal Register, with the one
Other Financial Vehicles. More details the content of industries or requests for change to the classification of REITs.
of this decision are presented in the electronic copies of the 2007 NAICS Attachments 1 and 2 show the corrected
SUPPLEMENTARY INFORMATION section tables to: John Murphy, Assistant lines for Tables 1 and 2 in the March 11,
below. In addition to this change, the Division Chief for Classification 2005, Federal Register notice based on
title of NAICS industry 561422, Activities, Service Sector Statistics this change. In addition to this change,
‘‘Telemarketing Bureaus’’, is changed to Division, Bureau of the Census, Room the title of NAICS industry 561422,
‘‘Telemarketing Bureaus and Other 2641–3, Washington, DC 20233, ‘‘Telemarketing Bureaus,’’ is changed to
Contact Centers’’ to more accurately telephone number: (301) 763–5172, fax ‘‘Telemarketing Bureaus and Other
reflect the content of the industry. There number: (301) 457–1343, or by e-mail: Contact Centers’’ to more accurately
is no content change; the title is simply John.Burns.Murphy@census.gov. reflect the content of the industry. There
revised to reflect the actual activities is no content change; the title is simply
Electronic Availability and Comments revised to reflect the actual activities
undertaken and the various technologies
used. This document and the March 11, undertaken and the various technologies
In the March 11, 2005, notice, OMB’s 2005, Federal Register notice are used.
Economic Classification Policy available on the Internet from the After taking into consideration other
Committee recommended a revision of Census Bureau’s Web site via WWW comments submitted in direct response
the industry classification system to browser at http://www.census.gov/naics. to the March 11, 2005, Federal Register
modify the structure and detail for This WWW page also contains previous notice, as well as benefits and costs, and
telecommunications industries based on NAICS Federal Register notices and after consultation with the Economic
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changes that have occurred and are related documents. Classification Policy Committee,
anticipated to occur in the future. The FOR FURTHER INFORMATION CONTACT: Paul Mexico’s Instituto Nacional de
ECPC also recommended the creation of Bugg, 10201 New Executive Office Estadı́stica, Geografı́a e Informática
a new national industry for Building, Washington, DC 20503, e-mail (INEGI) and Statistics Canada, OMB
biotechnology research and address: pbugg@omb.eop.gov with made no other changes to the scope and

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Federal Register / Vol. 71, No. 94 / Tuesday, May 16, 2006 / Notices 28533

substance of the ECPC’s NAICS, or suggested changes that would telecommunications, while recognizing
recommendations outlined in the March be incompatible with proposals that significant new activities such as
11, 2005, Federal Register notice. The were accepted. biotechnology research and
other comments that were received NAICS was jointly developed by development, and minor content
supported proposed changes, suggested Canada, Mexico, and the United States. changes to more adequately reflect the
changes that would be incompatible For the 2007 revision the three countries production function orientation of
with the production-based foundation of focused on updating NAICS.

TABLE 1.—NAICS UNITED STATES 2007 MATCHED TO NAICS UNITED STATES 2002
2002
2007 NAICS Status
2007 NAICS and U.S. description NAICS 2002 NAICS description
code code code

531110 ......... Lessors of Residential Buildings and Dwellings .... R .............. 531110 Lessors of Residential Buildings and Dwellings.
*525930 Real Estate Investment Trusts—hybrid or equity
REITs primarily leasing residential Buildings
and Dwellings.
531120 ......... Lessors of Nonresidential Buildings (except R .............. 531120 Lessors of Nonresidential Buildings (except
Miniwarehouses). Miniwarehouses) .
*525930 Real Estate Investment Trusts—hybrid or equity
REITs primarily leasing nonresidential buildings.
531130 ......... Lessors of Miniwarehouses and Self-Storage R .............. 531130 Lessors of Miniwarehouses and Self-Storage
Units. Units .
*525930 Real Estate Investment Trusts—hybrid or equity
REITs primarily leasing miniwarehouses and
self-storage units.
531190 ......... Lessors of Other Real Estate Property .................. R .............. 531190 Lessors of Other Real Estate Property .
*525930 Real Estate Investment Trusts—hybrid or equity
REITs primarily leasing other real estate prop-
erty.
525990 ......... Other Financial Vehicles ........................................ R .............. 525990 Other Financial Vehicles.
*525930 Real Estate Investment Trusts—hybrid or mort-
gage REITs primarily underwriting or investing
in mortgages.
*—Part of 2002 industry, R—NAICS 2002 industry code reused with different content, N—new NAICS industry for 2007, E—existing industry
with no changes.

TABLE 2.—NAICS UNITED STATES 2002 MATCHED TO NAICS UNITED STATES 2007
2007
2002 NAICS Status
2002 NAICS and U.S description NAICS 2007 NAICS description
code code code

525930 ......... Real Estate Investment Trusts.


Hybrid or equity REITs primarily leasing residen- pt. ............. 531110 Lessors of Residential Buildings and Dwellings.
tial buildings and dwellings.
Hybrid or equity REITS primarily leasing nonresi- pt. ............ 531120 Lessors of Nonresidential Buildings (except
dential buildings. Miniwarehouses).
Hybrid or equity REITs primarily leasing pt. ............ 531130 Lessors of Miniwarehouses and Self-Storage
miniwarehouses or self-storage units. Units.
Hybrid or equity REITS primarily leasing other pt. ............ 531190 Lessors of Other Real Estate Property .
real estate property.
Hybrid or mortgage REITs primarily underwriting pt. ............ 525990 Other Financial Vehicles.
or investing in mortgages.
pt.—Part of NAICS United States 2007 industry.

Donald R. Arbuckle,
Acting Administrator and Deputy
Administrator, Office of Information and
Regulatory Affairs.
[FR Doc. E6–7414 Filed 5–15–06; 8:45 am]
BILLING CODE 3110–01–P
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