Spectrum Auction Deposits Act of 2017

Bill: 115-hr-4109
Sponsor: full_name: Rep. Guthrie, Brett [R-KY-2]
Introduced: 2017-10-24
Policy area: Science, Technology, Communications
Subjects: Broadcasting, cable, digital technologies

Budget deficits and national debt

Licensing and registrations

Telephone and wireless communication
Latest action: action_date: 2017-10-27
text: Referred to the Subcommittee on Communications and Technology.

Summaries:
action_date: 2017-10-24
action_desc: Introduced in House
text: <p><strong>Spectrum Auction Deposits Act of 2017</strong></p> <p>This bill amends the Communications Act of 1934 to require the Department of the Treasury to accept bidding deposits for spectrum auctions held by the Federal Communications Commission. The deposits of successful bidders must be used for deficit reduction.</p>

tv_txt: I 115th CONGRESS 1st Session H. R. 4109 IN THE HOUSE OF REPRESENTATIVES October 24, 2017 Mr. Guthrie (for himself and Ms. Matsui ) introduced the following bill; which was referred to the Committee on Energy and Commerce A BILL To amend the Communications Act of 1934 to provide for the deposits of bidders in auctions of spectrum frequencies to be deposited in the Treasury.

1. Short title This Act may be cited as the Spectrum Auction Deposits Act of 2017 . 2. Deposits of bidders in auctions of spectrum frequencies to be deposited in Treasury (a) In general Section 309(j)(8)(C) of the Communications Act of 1934 ( 47 U.S.C. 309(j)(8)(C) ) is amended— (1) in the first sentence, by striking an interest bearing account and all that follows and inserting the Treasury. ; (2) in clause (i)— (A) by striking paid to the Treasury and inserting deposited in the general fund of the Treasury (where such deposits shall be used for the sole purpose of deficit reduction) ; and (B) by striking the semicolon and inserting ; and ; (3) in clause (ii), by striking ; and and inserting , and payments representing the return of such deposits shall not be subject to administrative offset under section 3716(c) of title 31, United States Code. ; and (4) by striking clause (iii). (b) Effective date The amendments made by this section shall take effect on October 1, 2018.