[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 674 Introduced in Senate (IS)]
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119th CONGRESS
1st Session
S. 674
To amend the Internal Revenue Code of 1986 to exclude certain broadband
grants from gross income.
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IN THE SENATE OF THE UNITED STATES
February 20, 2025
Mr. Moran (for himself, Mr. Warner, Mr. Sullivan, Mr. Kaine, Mr.
Tuberville, Mr. Kelly, Mrs. Capito, Mr. King, Mr. Wicker, Mr. Warnock,
Mr. Cramer, and Mrs. Fischer) introduced the following bill; which was
read twice and referred to the Committee on Finance
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A BILL
To amend the Internal Revenue Code of 1986 to exclude certain broadband
grants from gross income.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Broadband Grant Tax Treatment Act''.
SEC. 2. CERTAIN GRANTS FOR BROADBAND EXCLUDED FROM GROSS INCOME.
(a) In General.--Part III of subchapter B of chapter 1 of the
Internal Revenue Code of 1986 is amended by inserting after section
139I the following new subsection:
``SEC. 139J. CERTAIN BROADBAND GRANTS.
``(a) In General.--Gross income shall not include any qualified
broadband grant made for purposes of broadband deployment.
``(b) Denial of Double Benefit.--Notwithstanding any other
provision of this subtitle, no deduction or credit shall be allowed
for, or by reason of, any expenditure to the extent of the amount
excluded under subsection (a) for any qualified broadband grant which
was provided with respect to such expenditure. The adjusted basis of
any property shall be reduced by the amount excluded under subsection
(a) which was provided with respect to such property.
``(c) Qualified Broadband Grant.--For purposes of this section, the
term `qualified broadband grant' means--
``(1) any grant or subgrant received under the Broadband
Equity, Access, and Deployment Program established under
section 60102 of the Infrastructure Investment and Jobs Act,
``(2) any grant or subgrant received under the State
Digital Equity Capacity Grant Program established under section
60304 of such Act,
``(3) any grant received under the Digital Equity
Competitive Grant Program established under section 60305 of
such Act,
``(4) any grant received under section 60401 of such Act
(relating to middle mile grants),
``(5) any grant received--
``(A) under the broadband loan and grant pilot
program established by section 779 of Public Law 115-
141 under the Rural Electrification Act of 1936; and
``(B) from funds made available for such program
under the heading `Distance Learning, Telemedicine, and
Broadband Program' under the heading `Rural Utilities
Service' under title I of division J of the
Infrastructure Investment and Jobs Act,
``(6) any grant received from a State, territory, Tribal
government, or unit of local government to the extent such
grant was--
``(A) funded by amounts provided to the State or
local government under section 602, 603, or 604 of the
Social Security Act, and
``(B) provided for the stated purposes of making
investments in broadband infrastructure, or
``(7) any grant or subgrant received under section 905 of
division N of the Consolidated Appropriations Act, 2021.
``(d) Regulations.--The Secretary shall issue such regulations or
other guidance as may be necessary or appropriate to carry out the
purposes of this section.''.
(b) Clerical Amendment.--The table of sections for part III of
subchapter B of chapter 1 of the Internal Revenue Code of 1986 is
amended by inserting after the item related to section 139I the
following new item:
``Sec. 139J. Certain broadband grants.''.
(c) Effective Date.--The amendments made by this section shall
apply to amounts received in taxable years ending after March 11, 2021.
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