Digital Translator and Low-Power Television Transition Assistance Act - Amends the Communications Act of 1934 to extend the deadline for conversion of translator stations and low-power analog television stations to advanced (digital) television services from the current transition period ending on December 31, 2006, to the period ending four years thereafter.
Establishes in the Treasury the Low-Power Digital Television Transition Trust Fund, funded by proceeds from the federal auction of certain electromagnetic spectrum frequencies, for the making of grants to licensees of low-power television stations, state and local governments, and community organizations to: (1) upgrade low-power television translator stations from analog to digital in eligible rural communities and other areas served by low-power television stations; and (2) extend digital television broadcast signals to unserved households located in such communities and areas. Requires a report from the Federal Communications Commission to specified congressional committees on the status of low-power television and translator stations.
Directs the FCC to report semiannually to such committees on the status of international cooperation with Canada and Mexico with respect to the Digital Television table of allotments.