Sec. 5. C-Band Reimbursement Fund
186 words·~1 min read·
/bill/116/s/2956/is/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is established in the Treasury of the United States a fund to be known as the C-Band Reimbursement Fund . The Commission may borrow from the Treasury of the United States an amount not to exceed $2,500,000,000 to use for payments required under subsection (d). Any amounts borrowed under subsection
(b)shall be deposited in the C-Band Reimbursement Fund. The Commission shall use amounts in the C-Band Reimbursement Fund to reimburse costs reasonably incurred by— incumbent holders of licenses or market access rights for use of the electromagnetic spectrum identified under paragraph
(1)of section 3(a), to reduce the usage of that spectrum by those entities in accordance with that section; licensees or registrants of an earth station receiving signals over the spectrum identified under section 3(a)(1); and the relocation of other incumbent uses of the spectrum identified under section 3(a)(1). If any amounts remain in the C-Band Reimbursement Fund after the date that is 3 years after the completion of the system of competitive bidding conducted under section 3, the Secretary of the Treasury shall transfer those amounts to the Digital Divide Trust Fund.