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.