I think the FAA will be handling those... as they will be illegal.
We will all get the "121.5 is mostly false distress signals" speech and we will become complacent, and eventually a life will be lost.
I wonder how the handling of 121.5 ELTs will change, if at all. Will the FAA notify the AFRCC of a 121.5 ELT going off and then process them as they do now or will FAA contact state authorities directly?
A little outside knowledge. When I took Inland SAR Course, the Col said the satellites are "falling from the sky" and not being replaced so eventually the capability to pick these up will cease to exist, regardless of whether it is being supported or not.