Summary: H.R.1735 — 107th Congress (2001-2002)All Information (Except Text)

There is one summary for H.R.1735. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (05/03/2001)

Telecommunications Development Fund Improvement Act - Amends the Communications Act of 1934 to require any down payment that the Federal Communications Commission (FCC) may require any bidder to submit before issuance of a station license or construction permit in a system of competitive bidding to be deposited in an interest-bearing account at a financial institution designated by the FCC. Requires, within 45 days following the issuance of such a license or permit: (1) the down payments of successful bidders to be paid to the Treasury; and (2) the interest accrued to the account to be transferred to the Telecommunications Development Fund.