Broadband Grant Tax Treatment Act

Bill 119 s 674, also known as the Broadband Tax Exclusion Act, is a proposed piece of legislation that aims to amend the Internal Revenue Code of 1986. The main purpose of this bill is to exclude certain broadband grants from being considered as gross income for tax purposes. The bill specifically targets grants that are provided to expand broadband access in underserved and rural areas. By excluding these grants from gross income, the bill aims to incentivize and support the expansion of broadband infrastructure in areas that currently lack access to reliable high-speed internet. If passed, the Broadband Tax Exclusion Act would provide a tax benefit to organizations and entities that receive grants for broadband expansion projects. This tax exclusion would help reduce the financial burden on these entities and encourage them to invest in expanding broadband access to underserved communities. Overall, the bill seeks to promote the expansion of broadband infrastructure in areas that need it most by providing a tax incentive for organizations to invest in these projects. It is a non-partisan effort to improve access to high-speed internet and bridge the digital divide in the United States.