Bill > S415

This bill, known as the Spectrum Optimization Act, directs the Federal Communications Commission (FCC), an independent government agency responsible for regulating interstate and international communications by radio, television, wire, satellite, and cable, to establish rules for conducting auctions of certain radio spectrum that a current license holder voluntarily gives up. These auctions, often called "incentive auctions," are intended to reassign the spectrum for new uses under updated regulations, and a portion of the money raised from these auctions will be shared with the original license holders who relinquished their spectrum. The FCC must begin these auctions within two years of the bill's enactment, and any proceeds from these specific auctions will not be deposited into the U.S. Treasury under certain existing laws.