Amends the Internal Revenue Code to establish the rural telecommunications facilities investment tax credit.
Amends the Communications Act of 1934 to direct the Federal Communications Commission to initiate a proceeding to provide Federal universal service support for the deployment of broadband telecommunications service to eligible rural communities.
Amends the National Telecommunications and Information Administrative Organization Act to direct the Rural Utilities Service of the Department of Agriculture to make loans or other credit extensions to eligible telecommunications carrier providers, or to companies that accept the obligations of such carriers, to finance the deployment of broadband service to eligible rural communities.
Directs the Secretary of Agriculture to establish an Office of Rural Technology to act as an information center about programs that offer technology assistance to entities in rural areas.
Amends the Internal Revenue Code of 1986 to create a rural high tech employment tax credit.
Amends the Higher Education Act of 1965 to authorize the Secretary of Education to make grants to support the expansion of opportunities in rural areas for instruction in high technology fields and enterprises.