Telecommunications Development Fund Improvement Act - Amends the Communications Act of 1934 to require any down payment that the Federal Communications Commission (FCC) may require any bidder to submit before issuance of a station license or construction permit in a system of competitive bidding to be deposited in an interest-bearing account at a financial institution designated by the FCC. Requires, within 45 days following the issuance of such a license or permit: (1) the down payments of successful bidders to be paid to the Treasury; and (2) the interest accrued to the account to be transferred to the Telecommunications Development Fund.
Actions
May 15, 2001
Referred to the Subcommittee on Telecommunications and the Internet.
May 3, 2001
Referred to the House Committee on Energy and Commerce.