Us Congress 2025-2026 Regular Session

Us Congress Senate Bill SB674 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	II
2	2	119THCONGRESS
3	3	1
4	4	STSESSION S. 674
5	5	To amend the Internal Revenue Code of 1986 to exclude certain broadband
6	6	grants from gross income.
7	7	IN THE SENATE OF THE UNITED STATES
8	8	FEBRUARY20, 2025
9	9	Mr. M
10	10	ORAN(for himself, Mr. WARNER, Mr. SULLIVAN, Mr. KAINE, Mr.
11	11	T
12	12	UBERVILLE, Mr. KELLY, Mrs. CAPITO, Mr. KING, Mr. WICKER, Mr.
13	13	W
14	14	ARNOCK, Mr. CRAMER, and Mrs. FISCHER) introduced the following
15	15	bill; which was read twice and referred to the Committee on Finance
16	16	A BILL
17	17	To amend the Internal Revenue Code of 1986 to exclude
18	18	certain broadband grants from gross income.
19	19	Be it enacted by the Senate and House of Representa-1
20	20	tives of the United States of America in Congress assembled, 2
21	21	SECTION 1. SHORT TITLE. 3
22	22	This Act may be cited as the ‘‘Broadband Grant Tax 4
23	23	Treatment Act’’. 5
24	24	SEC. 2. CERTAIN GRANTS FOR BROADBAND EXCLUDED 6
25	25	FROM GROSS INCOME. 7
26	26	(a) I
27	27	NGENERAL.—Part III of subchapter B of chap-8
28	28	ter 1 of the Internal Revenue Code of 1986 is amended 9
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31	31	•S 674 IS
32	32	by inserting after section 139I the following new sub-1
33	33	section: 2
34	34	‘‘SEC. 139J. CERTAIN BROADBAND GRANTS. 3
35	35	‘‘(a) I
36	36	NGENERAL.—Gross income shall not include 4
37	37	any qualified broadband grant made for purposes of 5
38	38	broadband deployment. 6
39	39	‘‘(b) D
40	40	ENIAL OF DOUBLEBENEFIT.—Notwith-7
41	41	standing any other provision of this subtitle, no deduction 8
42	42	or credit shall be allowed for, or by reason of, any expendi-9
43	43	ture to the extent of the amount excluded under sub-10
44	44	section (a) for any qualified broadband grant which was 11
45	45	provided with respect to such expenditure. The adjusted 12
46	46	basis of any property shall be reduced by the amount ex-13
47	47	cluded under subsection (a) which was provided with re-14
48	48	spect to such property. 15
49	49	‘‘(c) Q
50	50	UALIFIEDBROADBANDGRANT.—For purposes 16
51	51	of this section, the term ‘qualified broadband grant’ 17
52	52	means— 18
53	53	‘‘(1) any grant or subgrant received under the 19
54	54	Broadband Equity, Access, and Deployment Pro-20
55	55	gram established under section 60102 of the Infra-21
56	56	structure Investment and Jobs Act, 22
57	57	‘‘(2) any grant or subgrant received under the 23
58	58	State Digital Equity Capacity Grant Program estab-24
59	59	lished under section 60304 of such Act, 25
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62	62	•S 674 IS
63	63	‘‘(3) any grant received under the Digital Eq-1
64	64	uity Competitive Grant Program established under 2
65	65	section 60305 of such Act, 3
66	66	‘‘(4) any grant received under section 60401 of 4
67	67	such Act (relating to middle mile grants), 5
68	68	‘‘(5) any grant received— 6
69	69	‘‘(A) under the broadband loan and grant 7
70	70	pilot program established by section 779 of 8
71	71	Public Law 115–141 under the Rural Elec-9
72	72	trification Act of 1936; and 10
73	73	‘‘(B) from funds made available for such 11
74	74	program under the heading ‘Distance Learning, 12
75	75	Telemedicine, and Broadband Program’ under 13
76	76	the heading ‘Rural Utilities Service’ under title 14
77	77	I of division J of the Infrastructure Investment 15
78	78	and Jobs Act, 16
79	79	‘‘(6) any grant received from a State, territory, 17
80	80	Tribal government, or unit of local government to 18
81	81	the extent such grant was— 19
82	82	‘‘(A) funded by amounts provided to the 20
83	83	State or local government under section 602, 21
84	84	603, or 604 of the Social Security Act, and 22
85	85	‘‘(B) provided for the stated purposes of 23
86	86	making investments in broadband infrastruc-24
87	87	ture, or 25
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90	90	•S 674 IS
91	91	‘‘(7) any grant or subgrant received under sec-1
92	92	tion 905 of division N of the Consolidated Appro-2
93	93	priations Act, 2021. 3
94	94	‘‘(d) R
95	95	EGULATIONS.—The Secretary shall issue such 4
96	96	regulations or other guidance as may be necessary or ap-5
97	97	propriate to carry out the purposes of this section.’’. 6
98	98	(b) C
99	99	LERICALAMENDMENT.—The table of sections 7
100	100	for part III of subchapter B of chapter 1 of the Internal 8
101	101	Revenue Code of 1986 is amended by inserting after the 9
102	102	item related to section 139I the following new item: 10
103	103	‘‘Sec. 139J. Certain broadband grants.’’.
104	104	(c) EFFECTIVEDATE.—The amendments made by 11
105	105	this section shall apply to amounts received in taxable 12
106	106	years ending after March 11, 2021. 13
107	107	Æ
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