S259-119

1. Short title This Act may be cited as the Foreign Adversary Communications Transparency Act.

2. List of entities holding FCC authorizations, licenses, or other grants of authority and having certain foreign ownership In this section: The term appropriate national security agency has the meaning given such term in section 9 of the Secure and Trusted Communications Networks Act of 2019 (47 U.S.C. 1608). The term Commission means the Federal Communications Commission. The term covered country means a country specified in section 4872(f)(2) of title 10, United States Code. The term covered entity means— the government of a covered country; an entity organized under the laws of a covered country; and a subsidiary of an entity described in subparagraph (B), regardless of whether the subsidiary is organized under the laws of a covered country. Not later than 120 days after the date of the enactment of this Act, the Commission shall publish on the internet website of the Commission a list of each entity— that holds a license issued by the Commission pursuant to— section 309(j) of the Communications Act of 1934 (47 U.S.C. 309(j)); or the Act of May 27, 1921 (47 U.S.C. 34 et seq.; commonly known as the Cable Landing Licensing Act) and Executive Order 10530 (3 U.S.C. 301 note; relating to the performance of certain functions vested in or subject to the approval of the President); and with respect to which— a covered entity holds an equity or voting interest that is required to be reported to the Commission under the ownership rules of the Commission; or an appropriate national security agency has determined that a covered entity exerts control, regardless of whether such covered entity holds an equity or voting interest as described in subparagraph (A). Not later than 18 months after the date of the enactment of this Act, the Commission shall issue rules to obtain information to identify each entity— that holds any authorization, license, or other grant of authority issued by the Commission (other than a license described in subsection (b)(1)); and with respect to which a covered entity holds an equity or voting interest that is required to be reported to the Commission under the ownership rules of the Commission. Not later than 1 year after the Commission issues the rules required by paragraph (1), the Commission shall place each entity described in such paragraph on the list published under subsection (b). A collection of information conducted or sponsored by the Commission to implement this section does not constitute a collection of information for the purposes of subchapter I of chapter 35 of title 44, United States Code (commonly referred to as the Paperwork Reduction Act). The Commission shall, not less frequently than annually, update the list published under subsection (b), including with respect to any entity required to be placed on such list by subsection (c)(2).