[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 592 Introduced in Senate (IS)]

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117th CONGRESS
  1st Session
                                 S. 592

  To establish a reserve fund for the proceeds of the C-band auction 
          conducted by the Federal Communications Commission.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 4, 2021

 Mr. Wicker (for himself and Mrs. Blackburn) introduced the following 
 bill; which was read twice and referred to the Committee on Commerce, 
                      Science, and Transportation

_______________________________________________________________________

                                 A BILL


 
  To establish a reserve fund for the proceeds of the C-band auction 
          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 ``Broadband Reserve Fund Act of 
2021''.

SEC. 2. BROADBAND AND CONNECTIVITY RESERVE FUND.

    (a) Definitions.--In this section--
            (1) the term ``Assistant Secretary'' means the Assistant 
        Secretary of Commerce for Communications and Information; and
            (2) the term ``Commission'' means the Federal 
        Communications Commission.
    (b) Establishment of Reserve Fund.--
            (1) In general.--There is established in the Treasury of 
        the United States a fund to be known as the ``Broadband Reserve 
        Fund'' (referred to in this section as the ``Fund'').
            (2) Availability.--
                    (A) In general.--Amounts deposited in the Fund 
                shall remain available through fiscal year 2030.
                    (B) Use for deficit reduction.--Any amounts 
                remaining in the Fund after the end of fiscal year 2030 
                shall be deposited in the general fund of the Treasury 
                for the sole purpose of deficit reduction.
    (c) Use of Fund.--
            (1) In general.--Subject to paragraph (2)--
                    (A) amounts in the Fund shall be available for use 
                by the Commission; and
                    (B) the Commission--
                            (i) shall reserve not less than 20 percent 
                        of the amounts in the Fund for use by the 
                        Assistant Secretary; and
                            (ii) shall transfer the amounts reserved 
                        under clause (i) to the Assistant Secretary 
                        upon request.
            (2) Limitation.--The Commission and the Assistant Secretary 
        may not access or use amounts in the Fund for any purpose 
        unless specifically authorized by an Act of Congress enacted 
        after the date of enactment of this Act.
            (3) Sense of congress regarding permissible uses of fund.--
        It is the sense of Congress that Congress should enact further 
        legislation specifying the purposes for which amounts in the 
        Fund may be used, which may include--
                    (A) broadband deployment to unserved areas;
                    (B) distance and remote learning;
                    (C) digital equity and expanding broadband access 
                in minority communities and on Tribal land;
                    (D) securing the telecommunications supply chain;
                    (E) promoting spectrum efficiency;
                    (F) investment in public safety communications 
                infrastructure;
                    (G) precision agriculture technologies; and
                    (H) telehealth technologies.
    (d) Investment.--Amounts in the Fund shall be invested in 
accordance with section 9702 of title 31, United States Code, and any 
interest on, and proceeds from, any such investment shall be credited 
to, and become a part of, the Fund.
    (e) Deposit of C-Band Spectrum Auction Proceeds in Fund.--Section 
309(j)(8) of the Communications Act of 1934 (47 U.S.C. 309(j)(8)) is 
amended--
            (1) in subparagraph (A), by striking ``and (G)'' and 
        inserting ``(G), and (H)'';
            (2) in subparagraph (C)(i), by striking ``and (G)'' and 
        inserting ``(G), and (H)''; and
            (3) by adding at the end the following:
                    ``(H) C-band auction proceeds.--Notwithstanding 
                subparagraph (A), and except as provided in 
                subparagraph (B), of the proceeds (including deposits 
                and upfront payments from successful bidders) from the 
                use of a system of competitive bidding under this 
                subsection to award licenses in the band of frequencies 
                between 3700 megahertz and 3980 megahertz (designated 
                by the Commission as `Auction 107'), $65,000,000,000 
                shall be deposited in the Broadband Reserve Fund 
                established under section 3 of the Broadband Reserve 
                Fund Act of 2021.''.
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