Sec. 5. C-Band Reimbursement and Implementation Fund
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/bill/116/s/3246/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 and Implementation Fund (referred to in this section as the C-Band Fund ). The Commission may borrow from the Treasury of the United States an amount not to exceed $6,000,000,000 to use for payments required under subsections
(d)and (e). Any amounts borrowed under subsection
(b)shall be deposited in the C-Band Fund. The Commission shall use the amounts in the C-Band 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). The Commission shall use not more than $1,000,000,000 of the amounts in the C-Band Fund for payments to incentivize incumbent holders of licenses or market access rights for use of the electromagnetic spectrum identified under paragraph
(1)of section 3(a) to reduce their usage of that spectrum in accordance with that section in a more timely fashion. If any amounts remain in the C-Band 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.