Sec. 80401. PRIVATE ACTIVITY BONDS FOR QUALIFIED BROADBAND PROJECTS
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## SEC. 80401 PRIVATE ACTIVITY BONDS FOR QUALIFIED BROADBAND PROJECTS ###
(a)In General **[**[26 U.S.C. 142](/us/usc/t26/s142)**]** Section 142(a) of the Internal Revenue Code of 1986 is amended by striking “ or ” at the end of paragraph (14), by striking the period at the end of paragraph
(15)and inserting “ , or ”, and by adding at the end the following new paragraph: > > #### “(16) > > qualified broadband projects.” > . ###
(b)Qualified Broadband Projects Section 142 of such Code is amended by adding at the end the following new subsection: > > ### “(n) Qualified Broadband Project > > > #### “(1) In general > > For purposes of subsection (a)(16), the term ‘qualified broadband project’ means any project which— > > > ##### “(A) > > is designed to provide broadband service solely to 1 or more census block groups in which more than 50 percent of residential households do not have access to fixed, terrestrial broadband service which delivers at least 25 megabits per second downstream and at least 3 megabits service upstream, and > > > ##### “(B) > > results in internet access to residential locations, commercial locations, or a combination of residential and commercial locations at speeds not less than 100 megabits per second for downloads and 20 megabits for second for uploads, but only if at least 90 percent of the locations provided such access under the project are locations where, before the project, a broadband service provider— > > > ###### “(i) > > did not provide service, or > > > ###### “(ii) > > did not provide service meeting the minimum speed requirements described in subparagraph (A). > > > #### “(2) Notice to broadband providers > > A project shall not be treated as a qualified broadband project unless, before the issue date of any issue the proceeds of which are to be used to fund the project, the issuer— > > > ##### “(A) > > notifies each broadband service provider providing broadband service in the area within which broadband services are to be provided under the project of the project and its intended scope, > > > ##### “(B) > > includes in such notice a request for information from each such provider with respect to the provider’s ability to deploy, manage, and maintain a broadband network capable of providing gigabit capable Internet access to residential or commercial locations, and > > > ##### “(C) > > allows each such provider at least 90 days to respond to such notice and request.” > . ###
(c)Partial Exception From Volume Cap ####
(1)In general **[**[26 U.S.C. 146](/us/usc/t26/s146)**]** Section 146(g) of the Internal Revenue Code of 1986 is amended by striking “ and ” at the end of paragraph (3), by striking the period at the end of paragraph
(4)and inserting “ , and ”, and by inserting immediately after paragraph
(4)the following new paragraph: > > #### “(5) > > 75 percent of any exempt facility bond issued as part of an issue described in paragraph
(16)of section 142(a) (relating to qualified broadband projects).” > . ####
(2)Government-owned projects The last sentence of section 146(g) of such Code is amended by striking “Paragraph (4)” and inserting “Paragraphs
(4)and (5)”. ###
(d)Effective Date **[**[26 U.S.C. 142 note](/us/usc/t26/s142)**]** The amendments made by this section shall apply to obligations issued in calendar years beginning after the date of the enactment of this Act.
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