FACTBOX: U.S. measure would revamp spy powers

(Reuters) - Congressional negotiators announced a bill on Thursday to revamp U.S. spy powers and protect phone companies from potentially billion of dollars in lawsuits.

Here are some of the major points of the measure, which is expected to be approved on Friday by the House of Representatives.

* Authorizes U.S. intelligence agencies to eavesdrop, without court approval, on foreign targets believed to be outside the United States. Critics complain this would allow warrantless surveillance of Americans who communicate with these foreigners. The bill contains protections to minimize such eavesdropping, but opponents call them inadequate.

* Clarifies that to conduct electronic surveillance of a person in the United States, the government must obtain a warrant from U.S. Foreign Intelligence Surveillance Court.

* In an emergency, the government may authorize surveillance, and apply for court approval within seven days.

* Requires U.S. court approval to target an American in a foreign land. Currently, a warrant is not needed.

* Permits federal courts to dismiss billions of dollars in lawsuits against phone companies that participated in the warrantless surveillance President George W. Bush began after the September 11 attacks. Courts would be able to dismiss if there is written certification the White House asked companies to take part in the program and were assured it was legal.

* Does not provide immunity to government officials who may have violated the law. Critics charge Bush's warrantless spying was unlawful. Bush maintains he had wartime power to do it. He put the program under court jurisdiction last year. Terms remain secret.

* Requires U.S. inspectors general to review warrantless surveillance and provide findings to congressional committees.

(Sources: Congressional negotiators and civil liberties groups)

(Writing by Thomas Ferraro; Editing by Eric Walsh)