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139 STAT. 130 PUBLIC LAW 119–21—JULY 4, 2025 remaining bandwidth required to be identified under para- graph (1). (3) REQUIRED ANALYSIS.— (A) IN GENERAL.—In determining under paragraph (1) which specific frequencies within the covered band to reallo- cate, the Assistant Secretary shall determine the feasibility of the reallocation of frequencies. (B) REQUIREMENTS.—In conducting the analysis under subparagraph (A), the Assistant Secretary shall assess net revenue potential, relocation or sharing costs, as applicable, and the feasibility of reallocating specific frequencies, with the goal of identifying the best approach to maximize net proceeds of systems of competitive bidding for the Treasury, consistent with section 309(j) of the Communications Act of 1934 (47 U.S.C. 309(j)). (d) AUCTIONS.—The Commission shall grant licenses for the frequencies identified for reallocation under subsection (c) through systems of competitive bidding in accordance with the following schedule: (1) Not later than 4 years after the date of enactment of this Act, the Commission shall, after notifying the Assistant Secretary, complete 1 or more systems of competitive bidding for not less than 200 megahertz of the frequencies. (2) Not later than 8 years after the date of enactment of this Act, the Commission shall, after notifying the Assistant Secretary, complete 1 or more systems of competitive bidding for any frequencies identified under subsection (c) that remain to be auctioned after compliance with paragraph (1) of this subsection. (e) LIMITATION.—The President shall modify or withdraw any frequency proposed for reallocation under this section not later than 60 days before the commencement of a system of competitive bidding scheduled by the Commission with respect to that fre- quency, if the President determines that such modification or with- drawal is necessary to protect the national security of the United States. (f) APPROPRIATION.—In addition to amounts otherwise avail- able, there is appropriated to the Department of Commerce for fiscal year 2025, out of any money in the Treasury not otherwise appropriated, $50,000,000, to remain available through September 30, 2034, to provide additional support to the Assistant Secretary to— (1) conduct a timely spectrum analysis of the bands of frequencies— (A) between 2.7 gigahertz and 2.9 gigahertz; (B) between 4.4 gigahertz and 4.9 gigahertz; and (C) between 7.25 gigahertz and 7.4 gigahertz; and (2) publish a biennial report, with the last report to be published not later than June 30, 2034, on the value of all spectrum used by Federal entities (as defined in section 113(l) of the National Telecommunications and Information Adminis- tration Organization Act (47 U.S.C. 923(l))), that assesses the value of bands of frequencies in increments of not more than 100 megahertz. Publication. Reports. Assessments. Analysis. Time period. Expiration date. President. Determination. Compliance. Notifications. Assessment. Determination.