Foreign Adversary Communications Transparency Act

The immediate list in subsection (a) is narrowed from covering all FCC authorizations, licenses, and grants of authority to only two specific types: section 309(j) broadcast foreign ownership licenses and cable landing licenses under the 1921 Act and Executive Order 10530.

A new rulemaking provision (subsection (b)) requires the FCC to issue rules within 18 months to identify entities holding any other FCC authorization or license where a covered entity holds reportable equity or voting interest, with those entities added to the list within one year after rules are issued.

The foreign ownership threshold is changed from 'any equity interest' (plus a discretionary catch-all) to requiring that the covered entity hold an equity or voting interest that is specifically required to be reported under FCC ownership rules, or that a national security agency determines the covered entity exerts control.

The definition of 'covered country' is changed from a hardcoded list (China, Russia, Iran, North Korea, Cuba, Venezuela) to a cross-reference to section 4872(d)(2) of title 10 U.S.C., which designates foreign adversaries under the Secure and Trusted Communications Networks Act.

The definition of 'covered entity' in subsection (B) is narrowed by removing the phrase 'or otherwise subject to the jurisdiction of the government of a covered country,' limiting it to entities organized under the laws of a covered country.

The subsidiary/affiliate provision in subsection (C) is broadened: it now covers any subsidiary or affiliate of a covered entity 'regardless of whether' it is organized under the laws of a covered country, removing the prior limitation that excluded entities already subject to covered country jurisdiction.

A new Paperwork Reduction Act exemption (subsection (c)) is added, stating that information collections to implement this section do not constitute a collection of information under the PRA.