A bill to direct the Secretary of Commerce to conduct a comprehensive study and investigation of the allocation of frequencies for telecommunications for the purpose of formulating an allocation system to achieve the maximum use of the frequencies for such communications.

Directs the Secretary of Commerce to conduct a comprehensive study and investigation of the principles and techniques of allocating frequencies of the electromagnetic spectrum for telecommunications for the purpose of formulating an allocation system to achieve the maximum use of the frequencies for such communications.

Directs the Secretary to submit to the President and to the Congress interim reports and a final report not later than twenty-four months after the date of enactment of this Act.

Provides that such final report shall contain a detailed statement of the findings, conclusions, and recommendations of the Secretary, and may propose such legislation or other action as the Secretary considers necessary to carry out his recommendations.

Authorizes $1,000,000 to carry out the purposes of this Act.