[Congressional Record Volume 168, Number 133 (Saturday, August 6, 2022)]
[Senate]
[Page S4349]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 5471. Mr. LEE submitted an amendment intended to be proposed to 
amendment SA 5194 proposed by Mr. Schumer to the bill H.R. 5376, to 
provide for reconciliation pursuant to title II of S. Con. Res. 14; 
which was ordered to lie on the table; as follows:

        At the end of title IV, add the following:

     SEC. 40008. SPECTRUM AUCTION.

       (a) Identification.--Not later than 21 months after the 
     date of enactment of this Act, the Secretary of Commerce, in 
     consultation with the Secretary of Defense, the Director of 
     the Office of Science and Technology Policy, and the Federal 
     Communications Commission (referred to in this section as the 
     ``Commission'') shall submit to the President, the 
     Commission, and the relevant congressional committees (as 
     defined in section 90008(a) of the Infrastructure Investment 
     and Jobs Act (47 U.S.C. 921 note; Public Law 117-58)) a 
     report that identifies 350 megahertz of electromagnetic 
     spectrum between the frequencies of 3100 megahertz and 3450 
     megahertz, inclusive, to be reallocated by the Commission 
     through a system of competitive bidding under subsection (b) 
     for non-Federal use or shared Federal and non-Federal use, or 
     a combination thereof.
       (b) Reallocation of Spectrum Through Auction.--
       (1) In general.--Not later than 7 years after the date of 
     enactment of this Act, the Commission shall--
       (A) notwithstanding paragraph (11) or (15)(A) of section 
     309(j) of the Communications Act of 1934 (47 U.S.C. 309(j)), 
     in coordination with the Assistant Secretary of Commerce for 
     Communications and Information, conduct a system of 
     competitive bidding under that section to award licenses for 
     non-Federal use or shared Federal and non-Federal use, or a 
     combination thereof, of the band or bands of electromagnetic 
     spectrum identified under subsection (a); and
       (B) promulgate rules for the use of spectrum reallocated 
     under subparagraph (A).
       (2) Auction proceeds to cover 110 percent of federal 
     relocation or sharing costs.--Nothing in this subsection 
     shall be construed to relieve the Commission from the 
     requirements under section 309(j)(16)(B) of the 
     Communications Act of 1934 (47 U.S.C. 309(j)(16)(B)).
       (3) Extension of auction authority.--Section 309(j)(11) of 
     the Communications Act of 1934 (47 U.S.C. 309(j)(11)) is 
     amended by striking ``section 90008(b)(2)(A)(ii) of the 
     Infrastructure Investment and Jobs Act'' and inserting 
     ``section 40008(a) of the Act titled `An Act to provide for 
     reconciliation pursuant to title II of S. Con. Res. 14' ''.
       (c) Use of Auction Proceeds.--Notwithstanding subparagraphs 
     (A), (C)(i), and (D) of section 309(j)(8) of the 
     Communications Act of 1934 (47 U.S.C. 309(j)(8)), and except 
     as provided in subparagraph (B) of that paragraph, the 
     proceeds (including deposits and upfront payments from 
     successful bidders) of competitive bidding under subsection 
     (b) of this section (in this subsection referred to as 
     ``covered proceeds'') shall be deposited or available as 
     follows:
       (1) Such amount of the covered proceeds as is necessary to 
     cover 110 percent of the relocation or sharing costs of 
     Federal entities relocated from or sharing the frequencies 
     identified under subsection (a) shall be deposited in the 
     Spectrum Relocation Fund established under section 118 of the 
     National Telecommunications and Information Administration 
     Organization Act (47 U.S.C. 928).
       (2) After the amount required to be deposited by paragraph 
     (1) of this subsection is so deposited, the Commission shall 
     use such amounts as are necessary to reimburse the general 
     fund of the Treasury for any amounts borrowed under section 
     (d) of this section; and
       (3) After compliance with paragraphs (1) and (2) of this 
     subsection, the Commission shall deposit all remaining 
     amounts in the general fund of the Treasury for the sole 
     purpose of deficit reduction.
       (d) FCC Borrowing Authority.--The Commission may borrow 
     from the Treasury of the United States an amount not to 
     exceed $3,700,000,000 to carry out the Secure and Trusted 
     Communications Networks Act of 2019 (47 U.S.C. 1601 et seq.), 
     notwithstanding the limitation on expenditures under section 
     4(k) of that Act (47 U.S.C. 1603(k)) and provided that the 
     Commission shall not use any funds borrowed under this 
     subsection in a manner that may result in outlays on or after 
     September 30, 2031.
       (e) Relation to Spectrum Auction Under Infrastructure 
     Investment and Jobs Act.--Paragraphs (2), (3), and (4) of 
     section 90008(b) of the Infrastructure Investment and Jobs 
     Act (47 U.S.C. 921 note; Public Law 117-58) are repealed.
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