A bill to modify and extend certain privatization requirements of the Communications Satellite Act of 1962.

Bill: 108-s-2896
Sponsor: Sen. Burns, Conrad R. [R-MT]
Introduced: 2004-10-05 in the Senate
Policy area: Science, Technology, Communications
Subjects: Commerce
Communication satellites
Corporations
Finance and Financial Sector
Privatization
Securities
Space activities
Stocks
Telecommunication industry
Wireless communication

Summary:
action_date: 2004-10-05
text: 
Amends the Communications Satellite Act of 1962 to extend, through June 30, 2005, the date for conducting an initial public offering of securities of any successor entity of Inmarsat (a Government-owned communications satellite).
 
Allows a successor entity to be deemed a national corporation, and therefor forgo an initial public offering and public securities listing for the above purposes, if: (1) the successor entity makes certain certifications to the Federal Communications Commission (FCC) with respect to the financial interests of Inmarsat signatories and former signatories, and that no intergovernmental organization has any ownership interest in a successor entity of INTELSAT (another Government-owned satellite) or more than a minimal ownership interest in a successor entity of Inmarsat; (2) the successor entity provides such financial and other information as the FCC may require to verify such certification; and (3) the FCC determines that the successor entity is in compliance with such certification.

action_date: 2004-10-25
text: 

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

 
Amends the Communications Satellite Act of 1962 to extend, through June 30, 2005, the date for conducting an initial public offering of securities of any successor entity of Inmarsat (a Government-owned communications satellite).
 
Allows a successor entity to be deemed a national corporation, and therefor forgo an initial public offering and public securities listing for the above purposes, if: (1) the successor entity makes certain certifications to the Federal Communications Commission (FCC) with respect to the financial interests of Inmarsat signatories and former signatories, and that no intergovernmental organization has any ownership interest in a successor entity of INTELSAT (another Government-owned satellite) or more than a minimal ownership interest in a successor entity of Inmarsat; (2) the successor entity provides such financial and other information as the FCC may require to verify such certification; and (3) the FCC determines that the successor entity is in compliance with such certification.


Legislative actions:
action_date: 2004-10-25
text: Became Public Law No: 108-371.
action_date: 2004-10-25
text: Became Public Law No: 108-371.
action_date: 2004-10-25
text: Signed by President.
action_date: 2004-10-25
text: Signed by President.
action_date: 2004-10-13
text: Presented to President.
action_date: 2004-10-13
text: Presented to President.
action_date: 2004-10-08
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2004-10-08
text: On passage Passed without objection. (text: CR H9025)
action_date: 2004-10-08
text: Passed/agreed to in House: On passage Passed without objection.(text: CR H9025)
action_date: 2004-10-08
text: Mr. Barton (TX) asked unanimous consent to take from the Speaker's table and consider.
action_date: 2004-10-08
text: Considered by unanimous consent. (consideration: CR H9025-9026)
action_date: 2004-10-06
text: Held at the desk.
action_date: 2004-10-06
text: Message on Senate action sent to the House.
action_date: 2004-10-06
text: Received in the House.
action_date: 2004-10-05
text: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S10459; text as passed Senate: CR S10459)
action_date: 2004-10-05
text: Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S10459; text as passed Senate: CR S10459)
action_date: 2004-10-05
text: Introduced in Senate

Enacted as: number: 108-371