1. Short title This Act may be cited as the Government Spectrum Valuation Act . 2. Estimate of value of electromagnetic spectrum (a) In general Part A of the National Telecommunications and Information Administration Organization Act ( 47 U.S.C. 901 et seq. ) is amended— (1) by redesignating section 105 ( 47 U.S.C. 904 ) as section 106; and (2) by inserting after section 104 ( 47 U.S.C. 903 ) the following: 105. Estimate of value of electromagnetic spectrum (a) Definitions In this section— (1) the term covered band means the band of frequencies between 3 kilohertz and 95 gigahertz; (2) the term Federal entity has the meaning given the term in section 113(l); and (3) the term OMB means the Office of Management and Budget. (b) Estimates required The NTIA, in consultation with the Commission and OMB, shall estimate the value of electromagnetic spectrum in the covered band that is assigned or otherwise allocated to each Federal entity as of the date of the estimate, in accordance with the schedule under subsection (c). (c) Schedule The NTIA shall conduct the estimates under subsection (b) for the frequencies between— (1) 3 kilohertz and 33 gigahertz not later than 1 year after the date of enactment of this section, and every 3 years thereafter; (2) 33 gigahertz and 66 gigahertz not later than 2 years after the date of enactment of this section, and every 3 years thereafter