Today, Sen. Mike Lee (R-UT) and Sen. Ed Markey (D-MA) introduced the Government Spectrum Valuation Act. The bill would require the annual coordination of the National Telecommunications and Information Administration (NTIA), the Office of Management and Budget (OMB), and the Federal Communications Commission (FCC) to determine the value of electromagnetic spectrum assigned or allocated to each federal agency. It would also require each federal agency to report the value of their electromagnetic spectrum in the President’s budget and each federal agency’s financial statement.

“Congress has a clear responsibility to ensure that federal spectrum is being managed effectively and appropriately,” Sen. Lee said. “One of the first steps to conducting effective oversight is assessing the value of federal spectrum allocations. By simply calculating the value of federal spectrum allocations, Congress and the Administration will be better equipped to identify valuable federal spectrum bands and manage each federal spectrum allocation more efficiently.”

“Spectrum is the oxygen of the wireless world,” Sen. Markey said, “ensuring American consumers and companies enjoy all of the benefits of this Internet of Things economy. It’s a simple formula: more available spectrum equals more competition and innovation. But you cannot effectively manage what you have not measured, and this legislation will finally ensure the public knows the value of spectrum held by the federal government so we can ensure it is being put to the best use.”