S 1676
117th Congress
Senate
Taxation
Business investment and capital
Income tax credits
Income tax exclusion
Interest, dividends, interest rates
Internet and video services
Internet, web applications, social media
Rural conditions and development
Securities
Rural Broadband Financing Flexibility Act
Introduced: May 18, 2021
Introduced by:
Hassan, Margaret Wood
Democratic
· New Hampshire
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 18, 2021
Read twice and referred to the Committee on Finance.
May 18, 2021
Introduced in Senate
Plain-English summary
Rural Broadband Financing Flexibility Act
This bill provides tax incentives for investment in broadband, particularly in rural areas.
Specifically, the bill allows
- issuance of private activity bonds for financing qualified broadband projects,
- issuers of broadband infrastructure bonds a credit for interest payments under such bonds, and
- a 10% investment tax credit for qualified broadband projects.
The bill defines qualified broadband project as any project that (1) is designed to provide broadband service solely to one or more areas that are rural areas and in which more than 50% of residential households do not have access to fixed, terrestrial broadband service that delivers at least 25 megabits per second downstream and at least 3 megabits service upstream, and (2) results in gigabit capable internet access to certain residential and commercial locations.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1