Bill 119 s 259, also known as the "Foreign Ownership Transparency Act," aims to require the Federal Communications Commission (FCC) to create and publish a list of entities that hold authorizations, licenses, or other grants of authority from the FCC and have foreign ownership. The purpose of this bill is to increase transparency and awareness of foreign ownership in the telecommunications industry.
The bill specifies that the FCC must include information on the level of foreign ownership in each listed entity, as well as any changes in ownership that occur after the initial publication of the list. This information will be made available to the public on the FCC's website.
In addition to the publication of the list, the bill also requires the FCC to submit an annual report to Congress detailing any enforcement actions taken against entities with foreign ownership. This report will provide insight into the FCC's efforts to ensure compliance with regulations regarding foreign ownership in the telecommunications industry.
Overall, Bill 119 s 259 seeks to promote transparency and accountability in the telecommunications industry by requiring the FCC to disclose information on entities with foreign ownership and their compliance with regulations.