Copyright Clause Restoration Act of 2022
This bill shortens the copyright protection term to 28 years starting from the date the work was originally secured, to be renewable for an additional 28-year term. (Under current law, for works created after 1977, the general rule is that the copyright term lasts for the life of the author plus 70 years.)
The bill shall apply to all works fixed on or after the bill's enactment, except that it shall have retroactive effect for copyrights belonging to an entity that (1) is involved in the motion picture or arts and entertainment industries, and (2) has a market capitalization of more than $150 billion.
To address the duration of copyright, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Copyright Clause Restoration Act of 
2022''.

SEC. 2. DURATION OF COPYRIGHT.

    (a) In General.--
            (1) Original term.--Notwithstanding any provision of title 
        17, United States Code, or any other provision of law, 
        copyright in any work shall endure for 28 years from the date 
        it was originally secured.
            (2) Extension.--The holder of a copyright under paragraph 
        (1) shall be entitled to a renewal and extension of the 
        copyright in the applicable work for a further term of 28 years 
        if the holder applies for that renewal and extension during the 
        1-year period before the expiration of the original term of the 
        copyright under that paragraph.
    (b) Application.--
            (1) In general.--Except as provided in paragraph (2), 
        subsection (a) shall apply with respect to copyright protection 
        for any work fixed on or after the date of enactment of this 
        Act.
            (2) Retroactive effect.--
                    (A) In general.--Subject to subparagraph (B), 
                subsection (a) shall apply with respect to a copyright 
                that, on any date on or after May 1, 2022, is owned by 
                a person that--
                            (i) has a market capitalization of more 
                        than $150,000,000,000; and
                            (ii)(I) is classified under North American 
                        Industry Classification System code 5121 or 71; 
                        or
                            (II) engages in substantial activities for 
                        which a code described in subclause (I) could 
                        be assigned.
                    (B) Licensing.--If, as of May 1, 2022, a person is 
                operating under a license with respect to a copyright 
                that is subject to subparagraph (A) and that, because 
                of the application of that subparagraph, would expire 
                during the 10-year period beginning on May 1, 2022, 
                that person shall continue to hold the rights contained 
                in that license (to the exclusion of any person not 
                granted those rights by a license before May 1, 2022) 
                for a period that is the shorter of--
                            (i) 50 percent of the remaining license 
                        term, as of May 1, 2022; or
                            (ii) 10 years, beginning on May 1, 2022.
                                 <all>
Copyright Clause Restoration Act of 2022
To address the duration of copyright, and for other purposes.
Copyright Clause Restoration Act of 2022
Rep. Steube, W. Gregory