This legislation mandates the Federal Communications Commission (FCC) to establish and maintain a public list of entities holding specific FCC authorizations that have foreign ownership from designated countries. Within 120 days of enactment, the FCC must publish a list identifying entities holding certain licenses, such as spectrum or cable landing licenses, where a covered entity holds a reported equity or voting interest, or where an appropriate national security agency determines a covered entity exerts control. A "covered entity" includes the government of a specified country, an entity organized under its laws, or its subsidiary, aiming to increase transparency regarding foreign influence in critical communications infrastructure. Furthermore, the bill directs the FCC to issue rules within 18 months to gather information on other types of FCC authorizations, licenses, or grants of authority. These rules will enable the identification of additional entities with reported equity or voting interests from covered entities, which must then be added to the main list within one year of the rules' issuance. The FCC is also required to update this comprehensive list annually, ensuring a continuous and publicly accessible record of foreign ownership from potentially adversarial nations across a broader range of FCC-regulated entities.