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Tax Breaks and Investments for Rural Broadband Internet

This act aims to support the development of high-speed internet in rural areas. It introduces tax exemptions for telecommunications companies operating in these regions, which could lead to improved internet and telephone service access for residents. Additionally, mechanisms are in place to recapture these benefits if companies fail to meet specific internet speed requirements.
Key points
Telecommunications companies in rural areas may be exempt from tax on gains from selling their shares, encouraging investment.
A 30% tax credit is introduced for expenses related to purchasing, maintaining, or improving infrastructure for telephone and broadband internet services in rural areas.
If a company that received the tax benefit fails to provide sufficiently fast internet in rural areas within a few years, the benefit may be revoked, and the tax will have to be paid.
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Expired
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Additional Information
Print number: 118_HR_1178
Sponsor: Rep. Ferguson, A. Drew, IV [R-GA-3]
Process start date: 2023-02-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Broadband SALE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1178.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-02-24.

What are the main provisions?

Key points include:

  • Telecommunications companies in rural areas may be exempt from tax on gains from selling their shares, encouraging investment.
  • A 30% tax credit is introduced for expenses related to purchasing, maintaining, or improving infrastructure for telephone and broadband internet services in rural areas.
  • If a company that received the tax benefit fails to provide sufficiently fast internet in rural areas within a few years, the benefit may be revoked, and the tax will have to be paid.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Ferguson, A. Drew, IV [R-GA-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Taxes Public Investments Informatization