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H.R. 747, Telecommunications Development Fund Improvement Act
Sponsor: Rep. Edolphus Towns, D-N.Y.
Introduced: Feb. 12, 2003
Committee: House Energy and Commerce
Description: H.R. 747 seeks to improve operations of the Telecommunications Development Fund (TDF), a private corporation created under the 1996 Telecommunications Act to foster telecom innovation. The bill would require bidders for spectrum licenses to deposit their down payments in interest-bearing accounts while the FCC considers their applications. When an application is approved, the amount of the bid would go to the federal treasury, and the accrued interest would go to the TDF.
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