A bill to amend the Internal Revenue Code of 1986 to provide for the expensing of broadband Internet access expenditures, and for other purposes.
Latest action · May 26, 2005 Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6040-6042)
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 26, 2005
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Amends the Internal Revenue Code to permit taxpayers to elect to expense (i.e., deduct all expenses in the current taxable year) qualified broadband expenditures, including installation and connection costs for subscribers in rural or underserved areas.
Permits mutual or cooperative telephone companies to elect to reduce their unrelated business taxable income in any year by the amount of their qualified broadband expenditures.
Directs the Secretary of the Treasury to: (1) designate census tracts identifying rural and underserved areas under this Act; and (2) prescribe regulations for carrying out the purposes of this Act. Prohibits federal or state agencies from adopting regulations and ratemaking procedures that would eliminate or reduce the broadband expense deduction provided by this Act.
Cosponsors 8
Members who signed on, in the order they did. Signatures ran from May 26, 2005 to Nov 13, 2006; 6 are original cosponsors, there from the day it was introduced.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-NY | Charles E. Schumer | Original | May 26, 2005 |
| R-MT | Conrad R. Burns | Original | May 26, 2005 |
| R-KY | Jim Bunning | Original | May 26, 2005 |
| D-WA | Maria Cantwell | Original | May 26, 2005 |
| D-MT | Max Baucus | Original | May 26, 2005 |
| R-ME | Olympia J. Snowe | Original | May 26, 2005 |
| D-NY | Hillary Rodham Clinton | Apr 27, 2006 | |
| D-IN | Evan Bayh | Nov 13, 2006 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred May 26, 2005 |
Actions 3
Everything that happened, newest first.
- May 26, 2005Introduced in Senate
- May 26, 2005Sponsor introductory remarks on measure. (CR S6039-6040)
- May 26, 2005Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S6040-6042)
In the Congressional Record 1
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| Senate | Debate and remarks S6039Text printed S6040–S6042 | John D. Rockefeller IV D-WV (text) | May 26, 2005 |
Related bills 2
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 497 | Broadband Rural Revitalization Act of 2005 | Related bill | Mar 2, 2005 |
| HR 1479 | Rural Access to Broadband Service Act | Related bill | May 11, 2005 |
Titles 1
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to amend the Internal Revenue Code of 1986 to provide for the expensing of broadband Internet access expenditures, and for other purposes.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Administrative procedure
- Antennas
- Broadband
- Cable television
- Capital investments
- Commerce
- Communication satellites
- Cooperative societies
- Corporation taxes
- Department of the Treasury
- Depreciation and amortization
- Depressed areas
- District of Columbia
- Economics and Public Finance
- Enterprise zones
- Government Operations and Politics
- Government paperwork
- Housing and Community Development
- Income tax
- Internet
- Law
- Lease and rental services
- Science, Technology, Communications
- Tax deductions
- Tax returns
- Tax-exempt organizations
- Taxation
- Telecommunication industry
- Telecommunication systems
- Telephone
- Television relay systems
- Urban affairs
- Wireless communication
Text 1
Each version as it was printed, newest first.
- May 26, 2005Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.