Requires the Administrator of the Rural Utilities Service or the Assistant Secretary of Commerce for Communications and Information to terminate for cause any award (including grants and loans) made under the Broadband Initiatives Program or the Broadband Technology Opportunities Program, respectively, established pursuant to the American Recovery and Reinvestment Act of 2009, if the Administrator or Assistant Secretary determines that cause exists (including insufficient level of performance, wasteful spending, or fraudulent spending) to terminate the award.
Directs the Administrator or the Assistant Secretary to: (1) deobligate, upon terminating such an award, an amount equivalent to such award, as recoverable, less allowable costs; and (2) return to the Treasury's general fund such deobligated amounts and any award returned or disclaimed by a recipient after enactment of this Act.