A bill to amend the Internal Revenue Code of 1986 to provide for the expensing of broadband Internet access expenditures, and for other purposes.

Summary

Amends the Internal Revenue Code to permit taxpayers to elect to expense (i.e., deduct all expenses in the current taxable year) qualified broadband expenditures, including installation and connection costs for subscribers in rural or underserved areas. Permits mutual or cooperative telephone companies to elect to reduce their unrelated business taxable income in any year by the amount of their qualified broadband expenditures. Directs the Secretary of the Treasury to: (1) designate census tracts identifying rural and underserved areas under this Act; and (2) prescribe regulations for carrying out the purposes of this Act. Prohibits federal or state agencies from adopting regulations and ratemaking procedures that would eliminate or reduce the broadband expense deduction provided by this Act.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 26 May 2005

   Introduced

   Sponsor introductory remarks on measure. (CR S6039-6040)

   Source: IntroReferral

2. 26 May 2005

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 26 May 2005

   Introduced

   Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6040-6042)

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 May 2005 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 May 2005

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 May 2005

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 26 May 2005

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Rockefeller, John D., IV [D-WV] · D · Sponsor
• Sen. Snowe, Olympia J. [R-ME] · R · Sponsor
• Sen. Baucus, Max [D-MT] · D · Sponsor
• Sen. Burns, Conrad R. [R-MT] · R · Sponsor
• Sen. Schumer, Charles E. [D-NY] · D · Sponsor
• Sen. Bunning, Jim [R-KY] · R · Sponsor
• Sen. Cantwell, Maria [D-WA] · D · Sponsor
• Sen. Clinton, Hillary Rodham [D-NY] · D · Cosponsor
• Sen. Bayh, Evan [D-IN] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Rural Access to Broadband Service Act
• related to → Broadband Rural Revitalization Act of 2005