A bill to facilitate the ability of certain spectrum auction winners to pursue alternative measures required in the public interest to meet the needs of wireless telecommunications consumers.

Allows a winning bidder to which the Federal Communications Commission (FCC) has not granted an Auction 35 license (broadband personal communications service spectrum auction related to spectrum previously licensed to NextWave Personal Communications, Inc., Next Wave Power Partners, Inc., or Urban Comm North Carolina, Inc.) to irrevocably elect to relinquish any right, title, or interest in that license and associated application by formal written notice to the FCC. Allows such election only within the 30-day period after enactment of this Act. Frees any winning bidder making such election from all license and application obligations, including the obligation to pay the winning bid amount.

Requires the FCC: (1) within 37 days after receiving such an election, to return to such bidder any deposit or down-payment made; and (2) within five days after enactment of this Act, to issue a public notice specifying the form and process for the return of deposits and down-payments.

Makes inapplicable to this Act certain Federal paperwork reduction requirements.

Expresses the sense of Congress that no inference with respect to any issue of law or fact in Federal Communications Commission v. NextWAVE Personal Communications, Inc., et al. should be drawn from this Act.