S. 1147 · 109th Congress
A bill to amend the Internal Revenue Code of 1986 to provide for the expensing of broadband Internet access…
Full title
A bill to amend the Internal Revenue Code of 1986 to provide for the expensing of broadband Internet access expenditures, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
RockefellerSponsor8 cosponsors · 5 D, 3 R
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · May 26, 2005
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to provide for the expensing of broadband Internet access expenditures, and for other purposes.
Latest action (May 26, 2005): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6040-6042)
Policy area: Taxation · Origin: Senate · Introduced: May 26, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.