It is the intent of Congress that the Federal Communications Commission complete the radio licensing process under the Communications Act of 1934 (
47 U.S.C.
151 et seq.), upon the application of any private sector party or consortium operator of any commercial land remote sensing space system subject to this chapter, within 120 days of the receipt of an application for such licensing. If final action has not occurred within 120 days of the receipt of such an application, the Federal Communications Commission shall inform the applicant of any pending issues and of actions required to resolve them.