Act. (3) Any remaining proceeds after carrying out paragraphs (1) and (2) shall be deposited in accordance with section 602 of this Act. 602. Spectrum Auction Trust Fund (a) Establishment There is established in the Treasury of the United States a fund to be known as the Spectrum Auction Trust Fund (in this section referred to as the Fund ) for the purposes described in subparagraphs (A) through (D) of subsection (c)(1). Amounts deposited in the Fund shall remain available until expended. (b) Deficit reduction (1) Proceeds of required auction of 3.1-3.45 GHz band Except as provided in section 309(j)(8)(B) of the Communications Act of 1934 ( 47 U.S.C. 309(j)(8)(B) ), and notwithstanding any other provision of law— (A) the first $17,300,000,000 of the proceeds of systems of competitive bidding required under section 90008 of the Infrastructure Investment and Jobs Act ( 47 U.S.C. 921 note) shall be deposited in the general fund of the Treasury, where such proceeds shall be dedicated for the sole purpose of deficit reduction