Text: H.R.4109 — 115th Congress (2017-2018)All Information (Except Text)

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Introduced in House (10/24/2017)


115th CONGRESS
1st Session
H. R. 4109


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.


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.

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 “Spectrum Auction Deposits Act of 2017”.

SEC. 2. 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.