RESERVATION OF AUCTION PROCEEDS.

SEC. 3004. RESERVATION OF AUCTION PROCEEDS. 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 “subparagraph (B) or subparagraph (D)” and inserting “subparagraphs (B), (D), and (E)”;(2) in subparagraph (C)(i), by inserting before the semicolon at the end the following: “, except as otherwise provided in subparagraph (E)(ii)”; and(3) by adding at the end the following new subparagraph:“(E) Transfer of receipts.—“(i) Establishment of fund.—There is established in the Treasury of the United States a fund to be known as the Digital Television Transition and Public Safety Fund.“(ii) Proceeds for funds.—Notwithstanding subparagraph (A), the proceeds (including deposits and upfront payments from successful bidders) from the 120 STAT. 23 use of a competitive bidding system under this subsection with respect to recovered analog spectrum shall be deposited in the Digital Television Transition and Public Safety Fund.“(iii) Transfer of amount to treasury.—On September 30, 2009, the Secretary shall transfer $7,363,000,000 from the Digital Television Transition and Public Safety Fund to the general fund of the Treasury.“(iv) Recovered analog spectrum.—For purposes of clause (i), the term ‘recovered analog spectrum’ has the meaning provided in paragraph (15)(C)(vi).”.