Page:United States Statutes at Large Volume 118.djvu/4024

 118 STAT. 3994 PUBLIC LAW 108–494—DEC. 23, 2004 ‘‘(B) CONCLUSION OF AUCTIONS CONTINGENT ON MIN- IMUM PROCEEDS.—The Commission shall not conclude any auction of eligible frequencies described in section 113(g)(2) of such Act if the total cash proceeds attributable to such spectrum are less than 110 percent of the total estimated relocation costs provided to the Commission pursuant to section 113(g)(4) of such Act. If the Commission is unable to conclude an auction for the foregoing reason, the Commission shall cancel the auction, return within 45 days after the auction cancellation date any deposits from participating bidders held in escrow, and absolve such bid- ders from any obligation to the United States to bid in any subsequent reauction of such spectrum. ‘‘(C) AUTHORITY TO ISSUE PRIOR TO DEAUTHORIZATION.— In any auction conducted under the regulations required by subparagraph (A), the Commission may grant a license assigned for the use of eligible frequencies prior to the termination of an eligible Federal entity’s authorization. However, the Commission shall condition such license by requiring that the licensee cannot cause harmful inter- ference to such Federal entity until such entity’s authoriza- tion has been terminated by the National Telecommuni- cations and Information Administration.’’. (c) DEPOSIT OF PROCEEDS.—Paragraph (8) of section 309(j) of the Communications Act of 1934 (47 U.S.C. 309(j)) is amended— (1) in subparagraph (A), by inserting ‘‘or subparagraph (D)’’ after ‘‘subparagraph (B)’’; and (2) by adding at the end the following new subparagraph: ‘‘(D) DISPOSITION OF CASH PROCEEDS.—Cash proceeds attributable to the auction of any eligible frequencies described in section 113(g)(2) of the National Telecommuni- cations and Information Administration Organization Act (47 U.S.C. 923(g)(2)) shall be deposited in the Spectrum Relocation Fund established under section 118 of such Act, and shall be available in accordance with that section.’’. SEC. 204. ESTABLISHMENT OF FUND AND PROCEDURES. Part B of the National Telecommunications and Information Administration Organization Act is amended by adding after section 117 (47 U.S.C. 927) the following new section: ‘‘SEC. 118. SPECTRUM RELOCATION FUND. ‘‘(a) ESTABLISHMENT OF SPECTRUM RELOCATION FUND.—There is established on the books of the Treasury a separate fund to be known as the ‘Spectrum Relocation Fund’ (in this section referred to as the ‘Fund’), which shall be administered by the Office of Management and Budget (in this section referred to as ‘OMB’), in consultation with the NTIA. ‘‘(b) CREDITING OF RECEIPTS.—The Fund shall be credited with the amounts specified in section 309(j)(8)(D) of the Communications Act of 1934 (47 U.S.C. 309(j)(8)(D)). ‘‘(c) USED TO PAY RELOCATION COSTS.—The amounts in the Fund from auctions of eligible frequencies are authorized to be used to pay relocation costs, as defined in section 113(g)(3) of this Act, of an eligible Federal entity incurring such costs with respect to relocation from those frequencies. ‘‘(d) FUND AVAILABILITY.— 47 USC 928. Deadline. VerDate 11-MAY-2000 13:54 Nov 10, 2005 Jkt 029194 PO 00000 Frm 00528 Fmt 6580 Sfmt 6581 C:\STATUTES\2004\29194PT4.001 APPS10 PsN: 29194PT4

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