[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 663 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                 S. 663

    To enhance taxpayer value in auctions conducted by the Federal 
                       Communications Commission.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             April 29, 1997

  Mr. Kerrey introduced the following bill; which was read twice and 
   referred to the Committee on Commerce, Science, and Transportation

_______________________________________________________________________

                                 A BILL


 
    To enhance taxpayer value in auctions conducted by the Federal 
                       Communications Commission.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Reserve Price Act''.

SEC. 2. RESERVE PRICE.

    In any auction conducted or supervised by the Federal 
Communications Commission (hereinafter the Commission) for any license, 
permit or right which has value, a reasonable reserve price shall be 
set by the Commission for each unit in the auction. The reserve price 
shall establish a minimum bid for the unit to be auctioned. If no bid 
is received above the reserve price for a unit, the unit shall be 
retained. The Commission shall reassess the reserve price for that unit 
and place the unit in the next scheduled or next appropriate auction.
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