Mandates that any Federal entity that operates a Government station assigned within specified bands of frequencies and that incurs relocation costs due to reallocation to non-Federal use receive reimbursement from the Spectrum Relocation Fund established in this Act. Requires the Federal Communications Commission (FCC) to notify the National Telecommunications and Information Administration (NTIA) at least 18 months prior to commencement of any auction of eligible frequencies. Requires NTIA to: (1) notify the FCC of estimated relocation costs at least six months prior to the commencement of any such auction; and (2) submit to specified congressional committees and the Comptroller General a copy of cost estimates and time lines for relocation.
Amends the Communications Act of 1934 to require the FCC: (1) in designing competitive bidding under such auctions, to have as an objective the recovery of 110 percent of the estimated relocation costs; (2) prescribe methods by which the total cash proceeds from any auction equals at least 110 percent of such costs; and (3) prohibit the FCC from concluding any auction under which such goal is not reached. Authorizes the FCC to grant a license for the advance use of eligible frequencies pending an auction, on the condition that the licensee cannot cause harmful interference to the Federal entity until the entity's authorization has been terminated.
Establishes the Fund. Exempts the Fund from sequestration under the Balanced Budget and Emergency Deficit Control Act of 1985.
Provides the basis for loans or other extensions of credit made from the Telecommunications Development Fund (established under prior law).