http://en.wikipedia.org/wiki/GPS_signals
L2C
One of the first announcements was the addition of a new civilian-use signal, to be transmitted on a frequency other than the L1 frequency used for the coarse/acquisition (C/A) signal. Ultimately, this became the L2C signal, so called because it is broadcast on the L2 frequency. Because it requires new hardware on board the satellite, it is only transmitted by the so-called Block IIR-M and later design satellites. The L2C signal is tasked with improving accuracy of navigation, providing an easy to track signal, and acting as a redundant signal in case of localized interference.
Unlike the C/A code, L2C contains two distinct PRN code sequences to provide ranging information; the Civilian Moderate length code (called CM), and theCivilian Long length code (called CL). The CM code is 10,230 bits long, repeating every 20 ms. The CL code is 767,250 bits long, repeating every 1500 ms. Each signal is transmitted at 511,500 bits per second (bit/s); however, they are multiplexed together to form a 1,023,000 bit/s signal.
CM is modulated with the CNAV Navigation Message (see below), whereas CL does not contain any modulated data and is called a dataless sequence. The long, dataless sequence provides for approximately 24 dB greater correlation (~250 times stronger) than L1 C/A-code.
When compared to the C/A signal, L2C has 2.7 dB greater data recovery and 0.7 dB greater carrier-tracking, although its transmission power is 2.3 dB weaker.
L2C Frequency information
An immediate effect of having two civilian frequencies being transmitted is the civilian receivers can now directly measure the ionospheric error in the same way as dual frequency P(Y)-code receivers. However, if a user is utilizing the L2C signal alone, they can expect 65% more position uncertainty than with the L1 signal.[13]