Communications Opportunity Act of 1994

[AI summary unavailable — showing source text] Communications Opportunity Act of 1994 - Requires the Federal Communications Commission (FCC) to ensure the participation of small businesses, rural telephone companies, and businesses owned by minorities and women ("designated entities") in the provision of spectrum-based services, particularly through licenses. Directs the FCC, if it uses competitive bidding to grant three or more licenses which serve a market, to reserve at least one license, of up to 30 megahertz, for bidding by designated entities. Reserves at least two licenses for bidding by designated entities, one of which is at least 30 megahertz, if more than six licenses are to be conferred through competitive bidding. Requires the FCC to provide bidding preferences to designated entities which choose to bid on other licenses, but prohibits the FCC from substituting such preferences for the license reservations. Directs the FCC to equalize licenses to be bid on initially by size and area and prohibits discrimination between designated entity licenses and other licenses. Requires the FCC, in developing rules regarding licenses and licensees for the same service, to take into account the impact of those rules on the compe…