Public Safety Spectrum and Wireless Innovation Act

Public Safety Spectrum and Wireless Innovation Act - Directs the Federal Communications Commission (FCC) to: (1) ensure the deployment of a nationwide public safety interoperable broadband network in the 700 MHz band which is deployed in both rural and urban areas; (2) reallocate and integrate the 700 MHz D block spectrum for use by public safety entities; (3) permit flexible use of the narrowband spectrum; (4) ensure that the nationwide public safety broadband network is fully interoperable on a nationwide basis; and (5) establish a 10-year public safety advisory board.

Amends the Communications Act of 1934 to increase the electromagnetic spectrum allocation for public safety services by 10 megahertz.

Permits the FCC, if consistent with the public interest for a licensee to relinquish voluntarily some or all of its licensed spectrum usage rights in order to permit the assignment of new initial licenses, to disburse to that licensee portions of the auction proceeds related to the new use that are attributable to the licensee's relinquished spectrum usage.

Extends FCC auction authority until September 30, 2020.

Authorizes secondary use of the public safety spectrum, subject to specified limitations and conditions.

Establishes in the Treasury: (1) the Public Safety Interoperable Broadband Network Construction Fund; and (2) the Public Safety Interoperable Broadband Network Maintenance and Operation Fund.

Directs the Assistant Secretary of Commerce for Communications and Information to establish a grant program to assist public safety entities establish a nationwide public safety interoperable broadband network in the 700 MHz band.