S 1854
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Digital Opportunity Investment Trust Act
Introduced: November 12, 2003
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 12, 2003
Read twice and referred to the Committee on Commerce, Science, and Transportation.
Nov 12, 2003
Introduced in Senate
Plain-English summary
Digital Opportunity Investment Trust Act - Establishes the Digital Opportunity Investment Trust (the Trust), which shall receive 30 percent of the cash payment received by the Federal Government each fiscal year quarter through FY 2020 from auctions of the publicly owned electromagnetic spectrum and fees derived from the use of such spectrum.
Establishes a Board to oversee administration of Trust funds.
Establishes a Director of the Trust. Provides authorized Trust uses.
Allows the Director of the Trust to award contracts and grants to nonprofit public institutions (with or without private partners) for innovative and experimental ideas and techniques to enhance learning and achieve specified related goals.
Directs the Director to invest funds of the Trust in U.S. interest bearing or U.S.-guaranteed obligations.
What's happening now
Read twice and referred to the Committee on Commerce, Science, and Transportation.
Committees of jurisdiction
1
Cosponsors
1