Sec. 2. Spectrum auction

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Not later than 21 months after the date of enactment of this Act, the Secretary of Commerce, in consultation with the Secretary of Defense, the Director of the Office of Science and Technology Policy, and the Federal Communications Commission (referred to in this section as the Commission ) shall submit to the President, the Commission, and the relevant congressional committees (as defined in section 90008(a) of the Infrastructure Investment and Jobs Act ( 47 U.S.C. 921 note;

Public Law 117–58 )) a report that identifies 350 megahertz of electromagnetic spectrum between the frequencies of 3100 megahertz and 3450 megahertz, inclusive, to be reallocated by the Commission through a system of competitive bidding under subsection

(b)for non-Federal use or shared Federal and non-Federal use, or a combination thereof. Not later than 7 years after the date of enactment of this Act, the Commission shall— notwithstanding paragraph

(11)or (15)(A) of section 309(j) of the Communications Act of 1934 ( 47 U.S.C. 309(j) ), in coordination with the Assistant Secretary of Commerce for Communications and Information, conduct a system of competitive bidding under that section to award licenses for non-Federal use or shared Federal and non-Federal use, or a combination thereof, of the band or bands of electromagnetic spectrum identified under subsection (a); and promulgate rules for the use of spectrum reallocated under subparagraph (A). Nothing in this subsection shall be construed to relieve the Commission from the requirements under section 309(j)(16)(B) of the Communications Act of 1934 ( 47 U.S.C. 309(j)(16)(B) ). Section 309(j)(11) of the Communications Act of 1934 ( 47 U.S.C. 309(j)(11) ) is amended by striking section 90008(b)(2)(A)(ii) of the Infrastructure Investment and Jobs Act and inserting section 2(a) of the . Protecting Communications Networks from Chinese Communist Party Espionage Act Notwithstanding subparagraphs (A), (C)(i), and

(D)of section 309(j)(8) of the Communications Act of 1934 ( 47 U.S.C. 309(j)(8) ), and except as provided in subparagraph

(B)of that paragraph, the proceeds (including deposits and upfront payments from successful bidders) of competitive bidding under subsection

(b)of this section (in this subsection referred to as covered proceeds ) shall be deposited or available as follows: Such amount of the covered proceeds as is necessary to cover 110 percent of the relocation or sharing costs of Federal entities relocated from or sharing the frequencies identified under subsection

(a)shall be deposited in the Spectrum Relocation Fund established under section 118 of the National Telecommunications and Information Administration Organization Act ( 47 U.S.C. 928 ). After the amount required to be deposited by paragraph

(1)of this subsection is so deposited, the Commission shall use such amounts as are necessary to reimburse the general fund of the Treasury for any amounts borrowed under section

(d)of this section. After compliance with paragraphs

(1)and

(2)of this subsection, the Commission shall deposit all remaining amounts in the general fund of the Treasury for the sole purpose of deficit reduction. The Commission may borrow from the Treasury of the United States an amount not to exceed $3,700,000,000 to carry out the Secure and Trusted Communications Networks Act of 2019 ( 47 U.S.C. 1601 et seq. ), notwithstanding the limitation on expenditures under section 4(k) of that Act ( 47 U.S.C. 1603(k) ) and provided that the Commission shall not use any funds borrowed under this subsection in a manner that may result in outlays on or after September 30, 2031. Paragraphs (2), (3), and

(4)of section 90008(b) of the Infrastructure Investment and Jobs Act ( 47 U.S.C. 921 note; Public Law 117–58 ) are repealed.

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