A bill to amend the Communications Act of 1934.

Bill: 114-s-2319
Sponsor: full_name: Sen. Thune, John [R-SD]
Introduced: 2015-11-19
Policy area: Science, Technology, Communications
Subjects: Bank accounts, deposits, capital

Broadcasting, cable, digital technologies

Budget deficits and national debt

Executive agency funding and structure

Federal Communications Commission (FCC)

Interest, dividends, interest rates

Licensing and registrations
Latest action: action_date: 2016-08-30
text: Placed on Senate Legislative Calendar under General Orders. Calendar No. 579.

Summaries:
action_date: 2015-11-19
action_desc: Introduced in Senate
text: <p>This bill amends the Communications Act of&nbsp;1934 to require any deposits that the Federal Communications Commission may require for the qualification of bidders in a system of competitive bidding for spectrum licenses to be deposited directly in the Treasury instead of in an interest bearing account at a financial institution. The bill removes a provision that requires the interest accrued to such a&nbsp;financial institution account to be dedicated for the sole purpose of deficit reduction. </p> <p>The deposits of successful bidders must be credited to the deposit fund of the Treasury, unless existing exceptions apply. </p>

action_date: 2016-08-30
action_desc: Reported to Senate without amendment
text: <p>(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)</p> <p>(Sec. 1) This bill amends the Communications Act of&nbsp;1934 to require any deposits that the Federal Communications Commission may require for the qualification of bidders in a system of competitive bidding for spectrum licenses to be deposited directly in the Treasury instead of in an interest bearing account at a financial institution. The bill removes a provision that requires the interest accrued to such a&nbsp;financial institution account to be dedicated for the sole purpose of deficit reduction. </p> <p>The deposits of successful bidders must be credited to the deposit fund of the Treasury, unless existing exceptions apply. </p>

tv_txt: II 114th CONGRESS 1st Session S. 2319 IN THE SENATE OF THE UNITED STATES November 19, 2015 Mr. Thune introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation A BILL To amend the Communications Act of 1934.

1. Deposits for spectrum auctions Section 309(j)(8)(C) of the Communications Act of 1934 ( 47 U.S.C. 309(j)(8)(C) ) is amended to read as follows: (C) Deposits Any deposits the Commission may require for the qualification of any person to bid in a system of competitive bidding pursuant to this subsection shall be deposited in the Treasury. Within 45 days following the conclusion of the competitive bidding— (i) the deposits of successful bidders shall be credited to the deposit fund of the Treasury, except as otherwise provided in subparagraphs (D)(ii), (E)(ii), (F), and (G); and (ii) the deposits of unsuccessful bidders shall be returned to such bidders. .

tv_txt: II Calendar No. 579 114th CONGRESS 2d Session S. 2319 IN THE SENATE OF THE UNITED STATES November 19, 2015 Mr. Thune introduced the following bill; which was read twice and referred to the Committee on Commerce, Science, and Transportation August 30, 2016 Reported under authority of the order of the Senate of July 14, 2016, by Mr. Thune , without amendment A BILL To amend the Communications Act of 1934.

1. Deposits for spectrum auctions Section 309(j)(8)(C) of the Communications Act of 1934 ( 47 U.S.C. 309(j)(8)(C) ) is amended to read as follows: (C) Deposits Any deposits the Commission may require for the qualification of any person to bid in a system of competitive bidding pursuant to this subsection shall be deposited in the Treasury. Within 45 days following the conclusion of the competitive bidding— (i) the deposits of successful bidders shall be credited to the deposit fund of the Treasury, except as otherwise provided in subparagraphs (D)(ii), (E)(ii), (F), and (G); and (ii) the deposits of unsuccessful bidders shall be returned to such bidders. .

August 30, 2016 Reported without amendment