pyrights shall
prescribe.

(D) Period agreement is in effect. The obligation to pay the royalty
fees established under a voluntary agreement which has been filed with
the Copyright Office in accordance with this paragraph shall become
effective on the date specified in the agreement, and shall remain in
effect until December 31, 1999, or in accordance with the terms of the
agreement, whichever is later.

(3) Fee set by compulsory arbitration.-

(A) Notice of initiation of proceedings. On or before January 1, 1997,
the Librarian of Congress shall cause notice to be published in the
Federal Register of the initiation of arbitration proceedings for the
purpose of determining a reasonable royalty fee to be paid under
subsection (b)(1)(B) by satellite carriers who are not parties to a
voluntary agreement filed with the Copyright Office in accordance with
paragraph (2). Such arbitration proceeding shall be conducted under
chapter 8.

(B) Establishment of royalty fees. In determining royalty fees under
this paragraph, the copyright arbitration royalty panel appointed under
chapter 8 shall establish fees for the retransmission of network
stations and superstations that most clearly represent the fair market
value of secondary transmissions. In determining the fair market value,
the panel shall base its decision on economic, competitive, and
programming information presented by the parties, including-

(i) the competitive environment in which such programming is
distributed, the cost of similar signals in similar private and
compulsory license marketplaces, and any special features and conditions
of the retransmission marketplace;

(ii) the economic impact of such fees on copyright owners and satellite
carriers; and

(iii) the impact on the continued availability of secondary
transmissions to the public.

(C) Period during which decision of arbitration panel or order of
librarian effective. The obligation to pay the royalty fee established
under a determination which-

(i) is made by a copyright arbitration royalty panel in an arbitration
proceeding under this paragraph and is adopted by the Librarian of
Congress under section 802(f), or

(ii) is established by the Librarian of Congress under section 802(f),
shall become effective as provided in section 802(g ), or July 1, 1997,
whichever is later.

(D) Persons subject to royalty fee. The royalty fee referred to in
subparagraph (C) shall be binding on all sa