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‘‘(II) eligible, under the rules of 
the 
Commission, 
for 
forbearance 
under section 10 of such Act (47 
U.S.C. 160) from the application of 
paragraph (3) of section 310(b) of 
such Act (47 U.S.C. 310(b)). 
‘‘(B) LIMITATION.—The term ‘covered ap-
plication’ does not include the following: 
‘‘(i) An application described in sub-
paragraph (A) with respect to which the 
applicant seeks to transfer, assign, or oth-
erwise dispose of an authorization or li-
cense to an entity that— 
‘‘(I) is owned or controlled by 
such applicant; 
‘‘(II) owns or controls such appli-
cant; or 
‘‘(III) is under common owner-
ship or control with such applicant. 
‘‘(ii) An application described in sub-
paragraph (A) with respect to which the 
applicant— 
‘‘(I) is an applicant that has been 
previously approved under the review 
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process established pursuant to sub-
section (a); and 
‘‘(II) at the time of such applica-
tion does not have a level of foreign 
ownership that is more than 10 per-
cent greater than the level of foreign 
ownership of such applicant— 
‘‘(aa) except as provided in 
item (bb), at any time such appli-
cant was previously approved 
under the review process estab-
lished pursuant to subsection (a); 
or 
‘‘(bb) if such applicant has 
been subjected to the review 
process established pursuant to 
subsection (a) as a result of ex-
ceeding a level of foreign owner-
ship pursuant to this clause, at 
the time such applicant was most 
recently approved under such re-
view process after having been 
subjected to such review process 
as a result of exceeding a level of 
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foreign ownership pursuant to 
this clause. 
‘‘(iii) An application described in sub-
paragraph (A)(i) that is domestic. 
‘‘(iv) An application described in sub-
paragraph (A) with respect to which the 
foreign ownership interests of the applicant 
are held by wholly owned intermediate 
holding companies that are controlled by— 
‘‘(I) a citizen of the United 
States; or 
‘‘(II) an entity organized under 
the laws of the United States. 
‘‘(6) 
THRESHOLD
FOREIGN
OWNERSHIP 
LIMIT.—The term ‘threshold foreign ownership limit’ 
means foreign ownership of, as applicable— 
‘‘(A) at least the amount determined by 
the Commission under section 214(a) of the 
Communications Act of 1934 (47 U.S.C. 
214(a)), in the case of an application described 
in paragraph (5)(A)(i) of this subsection; 
‘‘(B) any amount, in the case of an appli-
cation described in paragraph (5)(A)(ii) of this 
subsection; 
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‘‘(C) at least an amount sufficient for 
paragraph (3) or (4) of section 310(b) of such 
Act (47 U.S.C. 310(b)) to apply, in the case of 
an 
application 
described 
in 
paragraph 
(5)(A)(iii) of this subsection; or 
‘‘(D) any amount, in the case of any appli-
cation described in paragraph (5)(A) of this 
subsection if the foreign ownership is held by a 
foreign adversary (as specified in section 7.4 of 
title 15, Code of Federal Regulations (or a suc-
cessor regulation)).’’. 
(b) APPLICABILITY.—This section, and the amend-
ment made by this section, shall apply to any covered ap-
plication (as such term is defined in section 110D of the 
National Telecommunications and Information Adminis-
tration Organization Act, as added by subsection (a)) filed 
on or after the date on which the review process is estab-
lished pursuant to such section 110D. 
Passed the House of Representatives May 15, 2024. 
Attest: 
KEVIN F. MCCUMBER, 
Clerk. 
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