Spectrum Auction Act of 1995

Spectrum Auction Act of 1995 - Amends the Communications Act of 1934 to state that certain competitive bidding requirements of the Act shall not apply to licenses or construction permits issued by the Federal Communications Commission (FCC) for public safety radio services or for licenses or construction permits for new terrestrial digital television services assigned by the FCC to existing terrestrial broadcast licensees to replace their current television licenses. Extends through FY 2002 the authority of the FCC to grant such licenses or permits. Amends the National Telecommunications and Information Administration (NTIA) Act to authorize any Federal entity which operates a Government station to accept reimbursement from any person for the cost of relocating the operations of such station from one or more radio spectrum frequencies to any other frequency. Authorizes any person seeking to relocate a Government station that has been assigned a frequency of mixed Federal and non-Federal use to petition for such relocation to the NTIA. Provides relocation requirements. Allows such a relocated station up to one year to reclaim the former station if it finds the new facilities or spectrum (radio frequency) to be inferior to the former facilities or spectrum. Provides for the expedited transfer to Federal spectrum use of a station currently on a mixed Federal and non-Federal spectrum, or the consolidation of its spectrum use with other Government stations in a manner that maximizes the spectrum available for non-Federal use. Directs the President to seek to implement the relocation of the 1710 to 1755 megahertz frequency band by January 1, 2000. Directs the Secretary of Commerce to prepare and submit to the President and the Congress a report and timetable for the reallocation of the three frequency bands that were discussed but not recommended for reallocation in the Spectrum Reallocation Final Report.