To amend the Internal Revenue Code of 1986 to provide an income tax credit to holders of bonds financing new advanced broadband infrastructure, and for other purposes.
Advanced Broadband Infrastructure Bond Initiative of 2009 - Amends the Internal Revenue Code to allow a tax credit for investment in qualified advanced broadband infrastructure bonds. Limits the issuance authority for such bonds in 2009, 2010 and 2011 to $1 billion for state and local government issuers and $10 billion for all other issuers. Requires the use of bond proceeds to finance broadband infrastructure projects to provide residential or small business consumers with high-speed access to the Internet.
Amends the National Telecommunications and Information Administration Organization Act to require the National Telecommunications and Information Administration in the Department of Commerce to: (1) approve requests for qualified advanced broadband infrastructure projects; (2) monitor the implementation of such projects; and (3) make determinations regarding increases in the transmission speed requirements of the advanced broadband infrastructure bond program.
Introduced in House
Introduced in House
Referred to House Ways and Means
Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Energy and Commerce
Referred to the Subcommittee on Communications, Technology, and the Internet.
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