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

[AI summary unavailable — showing source 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.…