H.R. 4109 – Reading Mode

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.

Short title

This Act may be cited as the Spectrum Auction Deposits Act of 2017.

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.