Public Safety Spectrum and Wireless Innovation Act

Public Safety Spectrum and Wireless Innovation Act - Increases the allocation of electromagnetic spectrum for public safety entities by: (1) directing the Federal Communications Commission (FCC) to reallocate to such entities specified frequencies of the 700 MHz D block spectrum; (2) amending the Communications Act of 1934 to increase public safety services allocation and reduce commercial use allocation by 10 megahertz within a specified range; and (3) authorizing flexible use of narrowband spectrum, including for public safety broadband communications, subject to exceptions.

Authorizes the establishment of the Public Safety Broadband Corporation as a private, nonprofit corporation required to: (1) hold the single public safety wireless license (a license to be reallocated and granted by the FCC for an initial 10-year term renewable, upon application, for subsequent terms, each term a maximum of 10 years) for the 700 MHz D block and existing public safety broadband spectrums; and (2) build, deploy, and operate a nationwide public safety interoperable broadband network.

Extends, until September 30, 2021, the FCC's authority to grant a license or permit under applicable competitive bidding provisions.

Directs: (1) the Assistant Secretary of Commerce for Communications and Information to identify for reallocation at least 15 megahertz of certain contiguous spectrum from the October 2010 National Telecommunications and Information Administration (NTIA) report on wireless broadband systems, and (2) the FCC to auction various specified spectrum ranges.

Requires: (1) the FCC to reallocate spectrum between the 3550 and 3650 megahertz frequencies for competitive bidding, or (2) the President to identify alternative federal agency bands (totaling more than 20 and up to a maximum of 100 megahertz) for such reallocation.

Directs proceeds of the respective auctions to be deposited with the Public Safety Trust Fund established by this Act.

Amends competitive bidding system design requirements.

Authorizes the FCC, if it is consistent with the public interest in spectrum utilization for a licensee to voluntarily relinquish licensed spectrum usage rights in order to permit the assignment of new initial licenses through a competitive bidding process subject to new service rules, or to permit the designation of new spectrum for unlicensed use, to disburse to that licensee a portion of any auction proceeds attributable to the licensee's relinquished spectrum usage rights. Conditions such relinquishment upon the retention of the appropriate carriage rights applicable at the shared location by television broadcast stations required to be carried that voluntarily elect to share a channel.

Sets forth various restrictions on the FCC concerning television licenses.

Directs the FCC to conduct a rulemaking on secondary spectrum markets and modify specified regulations to: (1) allow certain unlicensed indoor use devices to operate in a specified band, and (2) streamline experimental licenses.

Amends the NTIA Organization Act to: (1) revise provisions concerning payment of relocation and sharing costs incurred by federal agencies for certain potential or planned auctions, sharing of spectrum frequencies, or reallocation from federal use to exclusive nonfederal or shared federal and nonfederal use; and (2) permit federal entities to allow nonfederal entities access to frequency assignments with NTIA approval.