Digital Opportunity Investment Trust Act

Digital Opportunity Investment Trust Act - Establishes the Digital Opportunity Investment Trust (the Trust), which shall receive 30 percent of the cash payment received by the Federal Government each fiscal year quarter through FY 2020 from auctions of the publicly owned electromagnetic spectrum and fees derived from the use of such spectrum.

Establishes a Board to oversee administration of Trust funds.

Establishes a Director of the Trust. Provides authorized Trust uses.

Allows the Director of the Trust to award contracts and grants to nonprofit public institutions (with or without private partners) for innovative and experimental ideas and techniques to enhance learning and achieve specified related goals.

Directs the Director to invest funds of the Trust in U.S. interest bearing or U.S.-guaranteed obligations.