[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4903 Introduced in House (IH)]







106th CONGRESS
  2d Session
                                H. R. 4903

To amend the Communications Act of 1934 to strengthen the limitation on 
 holding and transfer of broadcast licenses to foreign persons, and to 
      apply a similar limitation to holding and transfer of other 
       telecommunications entities by or to foreign governments.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 20, 2000

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

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                                 A BILL


 
To amend the Communications Act of 1934 to strengthen the limitation on 
 holding and transfer of broadcast licenses to foreign persons, and to 
      apply a similar limitation to holding and transfer of other 
       telecommunications entities by or to foreign governments.

    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 ``Foreign Government Investment 
Act of 2000''.

SEC. 2. FOREIGN GOVERNMENT INVESTMENT IN TELECOMMUNICATIONS ENTITIES.

    Section 310 of the Communications Act of 1934 (47 U.S.C. 301) is 
amended by adding at the end thereof the following:
    ``(f) Limitations on Foreign Government Ownership of 
Telecommunications Entities Licensed by the FCC--
            ``(1) In general.--Notwithstanding any other provision of 
        this Act or any other law to the contrary, no license, permit, 
        or operating authority under this Act may be granted to or held 
        by a corporation, joint venture, partnership, other business 
        organization, or trust directly or indirectly controlled by a 
        foreign government or its representatives.
            ``(2) Prohibition absolute.--The Commission may not waive 
        the application of paragraph (1) under any other authority 
        granted to the Commission under this or any other Act or under 
        any Commission order or rule.
            ``(3) Test of control.--A corporation or other entity 
        described in paragraph (1) shall be considered to be controlled 
        by a foreign government or its representatives if more than 25 
        percent of the ownership, voting rights, capital stock, or 
        other pecuniary interest in that entity is owned, held, or 
        controlled, directly or indirectly, by a foreign government or 
        its representatives.''.
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