H.R. 7742: Keep It Moving Act

This bill, known as the Keep It Moving Act, aims to amend the Communications Act of 1934 by establishing specific time limits for the Federal Communications Commission (FCC) to process applications for the transfer of control or assignment of licenses and authorizations it oversees. Here are the main points of the bill:

Application Completeness and Notification

• The FCC must determine and notify applicants within 15 days of receiving an application whether it is complete. If deemed incomplete, the FCC must specify what information is needed for the applicant to make the application complete.
• If an applicant submits the additional information needed within 5 days, the FCC has another 5 days to confirm if the amended application is complete.
• If the FCC fails to notify the applicant, the application will automatically be considered complete after the specified periods.
• Within 7 days after an application is confirmed as complete, the FCC must issue a public notice, formally accepting the application and initiating any public comment period.

Action on Applications

• The FCC must issue a final order approving or denying applications within 180 days of the public notice date, unless additional information is requested or if the application is referred to a special committee for further assessment. In such instances, the deadline could extend to 1 year.
• In cases where a hearing is required due to substantial questions of fact, the FCC must conclude the hearing and issue a final order within 15 months.

Failure to Meet Deadlines

• If the FCC does not comply with the deadlines to act, the applicant can request a court order that compels the FCC to make a decision.
• If the FCC intends to deny the application after being compelled by a court order, it must file a complaint demonstrating that denial is justified and in the public interest.

Pro Forma Transactions

• Transactions classified as "pro forma," which are short or minor transactions that do not require FCC approval, will not be subject to these new provisions. However, those involved in pro forma transactions must notify the FCC within 30 days after completion.

Applicability of the Act

• The provisions of this Act apply to all relevant applications filed with the FCC on or after its enactment, including those already pending.

Relevant Companies

• T (AT&T Inc.): As a major telecommunications provider, AT&T could be significantly impacted by changes in the approval timelines for transfers of control over licenses and spectrum.
• VZ (Verizon Communications Inc.): Similar to AT&T, Verizon, another key player in the telecom industry, may face changes in how quickly it can manage license transfers.
• SNAP (Snap Inc.): As a tech company that may engage in spectrum or telecommunication transactions, Snap could have implications from the modifications in application processing time.