[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1324 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 1324

To amend the Communications Act of 1934 to clarify the authority of the 
 Federal Communications Commission to authorize foreign investment in 
       United States broadcast and common carrier radio licenses.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 15, 1997

   Mr. Markey (for himself, Mr. Dingell, Mr. Klink, and Mr. Sawyer) 
 introduced the following bill; which was referred to the Committee on 
                                Commerce

_______________________________________________________________________

                                 A BILL


 
To amend the Communications Act of 1934 to clarify the authority of the 
 Federal Communications Commission to authorize foreign investment in 
       United States broadcast and common carrier radio licenses.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Telecommunications Trade and Foreign 
Investment Act of 1997''.

SEC. 2. FOREIGN OWNERSHIP.

    Section 310(b) of the Communications Act of 1934 (47 U.S.C. 310(b)) 
is amended to read as follows:
    ``(b)(1) No broadcast or common carrier or aeronautical en route or 
aeronautical fixed radio station license shall be granted to or held 
by--
            ``(A) any alien or the representative of any alien;
            ``(B) any corporation organized under the laws of any 
        foreign government; or
            ``(C) any corporation of which more than one-fifth of the 
        capital stock is owned of record or voted by a foreign 
        government or representative thereof or by any corporation 
        organized under the laws of a foreign country.
    ``(2) No broadcast radio station license shall be granted to or 
held by any corporation directly or indirectly controlled by any other 
corporation of which more than one-fourth of the capital stock is owned 
of record or voted by aliens, their representatives, or by a foreign 
government or representative thereof, or by any corporation organized 
under the laws of a foreign country.
    ``(3) No common carrier or aeronautical en route or aeronautical 
fixed radio station license shall be granted to or held by any 
corporation directly or indirectly controlled by any other corporation 
of which more than one-fourth of the capital stock is owned of record 
or voted by aliens, their representatives, or by a foreign government 
or representative thereof, or by any corporation organized under the 
laws of a foreign country, unless the Commission finds that the public 
interest will be served by the granting or assignment of such license.
    ``(4) In making the public interest determination specified under 
paragraph (3), the Commission shall consider, among other public 
interest factors, whether competitive opportunities are available to 
United States nationals or corporations in the applicant's home market. 
In evaluating the public interest, the Commission shall exercise great 
deference to the President with respect to United States national 
security, law enforcement requirements, foreign policy, the 
interpretation of international agreements with respect to any class of 
applicants, and international trade policy. Upon receipt of an 
application that requires a public interest finding under paragraph 
(3), the Commission shall cause notice thereof to be given to the 
President or any agencies designated by the President to receive such 
notification.''.

SEC. 3. EFFECTIVE DATE; REGULATIONS.

    (a) Effective Date.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendment made by section 2 is effective upon enactment.
            (2) Previously issued licenses.--Paragraph (2) of section 
        310(b) of the Communications Act of 1934 (47 U.S.C. 310(b)) (as 
        amended by section 2 of this Act) shall not require the 
        revocation of any broadcast station license granted or assigned 
        before such date of enactment pursuant to paragraph (4) of such 
        section (as in effect before such date of enactment). This 
        paragraph shall not preclude the Federal Communications 
        Commission from applying such paragraph (2) in any proceeding 
        to assign such a station license after such date of enactment.
    (b) Regulations.--Within 90 days after the date of enactment of 
this Act, the Federal Communications Commission shall take all actions 
necessary to implement this Act, including amending its rules and 
regulations, but the Commission shall not, after such effective date, 
take any action to enforce any rule, regulation, order, or policy that 
is inconsistent with this Act and the amendments made by this Act.
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