This bill amends the Foreign Agents Registration Act of 1938 (FARA) to significantly modify its exemption requirements, aiming to prevent certain foreign entities from circumventing registration. It specifically targets exemptions under subsections (d)(1), (d)(2), and (h), stipulating that these will no longer apply to agents representing foreign principals that are corporate or government entities owned or controlled by identified "countries of concern." This change is intended to strengthen oversight of foreign influence operations. The Act also establishes a new mechanism within the State Department Basic Authorities Act of 1956, empowering the Secretary of State, in consultation with the Attorney General, to propose additions or deletions to the list of these "countries of concern." These proposals require submission to specific Congressional committees and become effective only upon the enactment of a joint resolution of approval by Congress. All amendments introduced by this Act are temporary, designed to terminate five years after its enactment.