Summary: S.467 — 106th Congress (1999-2000)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to Senate with amendment(s) (07/01/1999)

Expeditious Action on Telecommunications Merger Act - Requires Federal Communications Commission (FCC) consideration of any application for a transfer of license, or for the acquisition and operation of lines, that is associated with an acquisition of voting securities or assets to be governed by the schedule set forth in this Act. Directs the FCC to complete consideration of: (1) an application that would result in the acquiring person holding 15 percent or more of the voting securities or assets of the acquired person, or an aggregate total amount of the voting securities and assets of the acquired person in excess of $15 million, not later than 180 days after receipt of the application unless, by majority vote, it extends the period by not more than 60 days; and (2) any other such application not later than 90 days after receipt unless it extends the period by not more than 30 days. Specifies that if the FCC does not approve, approve with modifications, or deny an application by that date, the application shall be deemed approved without modifications.