Telecommunications Development Fund Improvement Act of 2003 - 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.
Makes this Act inapplicable to down payments of any successful bidder in the FCC's C and F block broadband personal communications service spectrum auction (known as auction 35) or related claims.
Actions
Feb 26, 2003
Referred to the Subcommittee on Telecommunications and the Internet.
Feb 12, 2003
Referred to the House Committee on Energy and Commerce.