To amend the Communications Act of 1934 to provide for voluntary incentive auction revenue sharing.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Spectrum Innovation Act''.
SEC. 2. VOLUNTARY INCENTIVE AUCTION REVENUE SHARING.
Section 309(j)(8) of the Communications Act of 1934 (47 U.S.C. 309(j)(8)) is amended-- (1) in subparagraph (A), by striking ``(D), and (E),'' and inserting ``(D), (E), and (F),''; and (2) by adding at the end the following: ``(F) Voluntary incentive auction revenue sharing.-- ``(i) In general.--Notwithstanding subparagraph (A) and except as provided in subparagraphs (B) and (C), if the Commission determines that it is consistent with the public interest in utilization of the spectrum for a licensee to relinquish voluntarily some or all of its licensed spectrum usage rights in order to permit the assignment of new initial licenses subject to new service rules, the proceeds from the use of a competitive bidding system under this subsection in granting such rights to another licensee shall be shared, in an amount or percentage that the Commission considers appropriate, with the licensee who voluntarily relinquished such rights. ``(ii) Amounts not shared deposited in treasury.--In any case in which a licensee voluntarily relinquishes licensed spectrum usage rights under clause (i), the Commission shall deposit in the Treasury any portion of the proceeds described in such clause that the Commission does not share with the licensee (except proceeds...