Bill 119 hr 1020, also known as the Communications Signal Booster Tax Credit Act, aims to amend the Internal Revenue Code of 1986 to provide a refundable tax credit for the purchase of communications signal boosters in areas with insufficient broadband internet access. The bill is designed to help individuals and businesses in rural or underserved areas improve their internet connectivity by offsetting the cost of signal boosters.
The proposed tax credit would be available to taxpayers who purchase eligible communications signal boosters for personal or business use. The credit would be refundable, meaning that taxpayers could receive a refund even if they do not owe any federal income tax. This provision is intended to make the credit more accessible to low-income individuals and small businesses.
In addition to providing financial assistance for the purchase of signal boosters, the bill also includes provisions for the enforcement of the tax credit and reporting requirements for taxpayers claiming the credit. These measures are designed to ensure that the credit is used appropriately and effectively to improve broadband access in underserved areas.
Overall, the Communications Signal Booster Tax Credit Act seeks to address the digital divide by incentivizing the adoption of signal boosters in areas with inadequate broadband internet access. By providing financial support for the purchase of these devices, the bill aims to help bridge the gap in internet connectivity and promote economic development in underserved communities.