Tax Exemption for Broadband Infrastructure Grants.
This law makes federal and state grants used for building high-speed internet infrastructure tax-free. This allows organizations and companies receiving these funds to dedicate the full grant amount to network expansion, potentially speeding up broadband access in underserved areas. To ensure fairness, recipients cannot claim tax deductions for expenses covered by these tax-exempt grants.
Key points
Grants received for deploying broadband infrastructure (including major programs like BEAD) will not be counted as taxable income.
The change aims to accelerate the deployment of high-speed internet in rural and poorly connected communities.
Recipients are prevented from claiming tax deductions or credits for expenditures already covered by the tax-exempt grant money.
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