Private Wireless Spectrum Use Act

Private Wireless Spectrum Use Act - Amends the Communications Act of 1934 to direct the Federal Communications Commission (FCC) to: (1) identify and allocate at least 12 megahertz of electromagnetic spectrum located between 150 and 2000 megahertz for use by private wireless licensees on a shared-use basis; (2) reserve at least 50 percent of the reallocated spectrum for private wireless systems; and (3) issue an order for such spectrum reallocation and licenses for such spectrum.

Requires the FCC to: (1) devise a schedule for payments to the Treasury for shared-use spectrum used by private wireless systems; and (2) adopt a payment schedule determined to be in the public interest.

Prohibits competitive bidding requirements from being construed to permit the FCC to take any action to create mutual exclusivity where it does not already exist.