I 

117TH CONGRESS 

1ST SESSION H. R. 3377 

To amend the Internal Revenue Code of 1986 to provide tax benefits for 

investments in gigabit opportunity zones. 

IN THE HOUSE OF REPRESENTATIVES 

MAY 20, 2021 

Mrs. CAMMACK (for herself, Ms. LETLOW, Mr. BANKS, Ms. HERRELL, Mr. 

MOOLENAAR, Mr. LAMALFA, Mr. MEUSER, Mr. CAWTHORN, Mr. 

STEUBE, Mr. BOST, Mr. KUSTOFF, Mrs. MILLER of Illinois, Mr. WITTMAN, Mr. JACKSON, Ms. TENNEY, Mr. RODNEY DAVIS of Illinois, Mr. 

ROUZER, Mr. OWENS, Mr. C. SCOTT FRANKLIN of Florida, Mr. GOODEN

of Texas, Mr. AUSTIN SCOTT of Georgia, Mr. DAVIDSON, Mr. TIFFANY, 

Mr. VALADAO, Mr. CLINE, Mrs. FISCHBACH, Ms. STEFANIK, Mr. DIAZBALART, Mr. LATURNER, Mr. WESTERMAN, and Mr. DONALDS) introduced the following bill; which was referred to the Committee on Ways 

and Means, and in addition to the Committee on Energy and Commerce, 

for a period to be subsequently determined by the Speaker, in each case 

for consideration of such provisions as fall within the jurisdiction of the 

committee concerned 

A BILL 

To amend the Internal Revenue Code of 1986 to provide 

tax benefits for investments in gigabit opportunity zones. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Gigabit Opportunity 

5 Act’’. 


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1 SEC. 2. GIGABIT OPPORTUNITY ZONES. 

2 (a) IN GENERAL.—Chapter 1 of the Internal Rev3 enue Code of 1986 is amended by inserting after sub4 chapter V the following new subchapter: 

5 ‘‘Subchapter W—Gigabit Opportunity Zones 

‘‘Sec. 1400W–1. Designation. 

‘‘Sec. 1400W–2. Deferral for eligible taxpayer of capital gains invested in gigabit opportunity zones. 

‘‘Sec. 1400W–3. Immediate expensing of qualified gigabit opportunity zone 

business property. 

6 ‘‘SEC. 1400W–1. DESIGNATION. 

7 ‘‘(a) QUALIFIED GIGABIT OPPORTUNITY ZONE DE8 FINED.—For the purposes of this subchapter, the term 

9 ‘qualified gigabit opportunity zone’ means a population 

10 census tract that is a low-income community— 

11 ‘‘(1) which does not have fixed terrestrial 

12 broadband service that meets the current speed 

13 benchmark for fixed services (as determined by the 

14 Federal Communications Commission in its most re15 cent report issued pursuant to section 706 of the 

16 Telecommunications Act of 1996 (47 U.S.C. 1302)), 

17 ‘‘(2) which is located in a jurisdiction— 

18 ‘‘(A) that has been certified by the Sec19 retary, in consultation with the National Tele20 communications and Information Administra21 tion, as having adopted the Uniform Model 

22 Broadband Deployment Act prescribed by the 


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1 Federal Communications Commission pursuant 

2 to section 4 of the Gigabit Opportunity Act, or 

3 ‘‘(B) which has been determined by the 

4 Secretary, in consultation with the National 

5 Telecommunications and Information Adminis6 tration, to have adopted laws which are com7 parable to such Uniform Model Broadband De8 ployment Act, and 

9 ‘‘(3) which is designated as a qualified gigabit 

10 opportunity zone. 

11 Paragraph (1)(B) shall not apply with respect to any ju12 risdiction for which a determination has been made after 

13 the date which is 3 years after the date of the enactment 

14 of this section. 

15 ‘‘(b) DESIGNATION.— 

16 ‘‘(1) IN GENERAL.—For purposes of subsection 

17 (a)(3), a population census tract that is a low-in18 come community and which meets the requirements 

19 of paragraph (1) of subsection (a) is designated as 

20 a qualified gigabit opportunity zone if— 

21 ‘‘(A) not later than the end of the deter22 mination period, the governor of the State in 

23 which the tract is located— 


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1 ‘‘(i) nominates the tract for designa2 tion as a qualified gigabit opportunity 

3 zone, and 

4 ‘‘(ii) notifies the Secretary in writing 

5 of such nomination, and 

6 ‘‘(B) the Secretary certifies such nomina7 tion and designates such tract as a qualified 

8 gigabit opportunity zone before the end of the 

9 consideration period. 

10 ‘‘(2) EXTENSION OF PERIODS.—A governor 

11 may request that the Secretary extend either the de12 termination or consideration period, or both (deter13 mined without regard to this subparagraph), for an 

14 additional 30 days. 

15 ‘‘(c) OTHER DEFINITIONS.—For purposes of this 

16 subsection— 

17 ‘‘(1) LOW-INCOME COMMUNITIES.—The term 

18 ‘low-income community’ has the same meaning as 

19 when used in section 45D(e). 

20 ‘‘(2) DEFINITION OF PERIODS.— 

21 ‘‘(A) CONSIDERATION PERIOD.—The term 

22 ‘consideration period’ means the 30-day period 

23 beginning on the date on which the Secretary 

24 receives notice under subsection (b)(1)(A)(ii), 

25 as extended under subsection (b)(2). 


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1 ‘‘(B) DETERMINATION PERIOD.—The term 

2 ‘determination period’ means the 90-day period 

3 beginning on the date on which the State 

4 adopts the Uniform Model Broadband Deploy5 ment Act described in subsection (a)(2)(A), as 

6 extended under subsection (b)(2). 

7 ‘‘(d) GUIDANCE FOR OPPORTUNITY ZONE NOMINA8 TIONS.—When considering the nomination of qualified 

9 gigabit opportunity zones, governors should strive for the 

10 creation of qualified gigabit opportunity zones that are 

11 geographically concentrated and contiguous clusters of 

12 population census tracts and should give particular consid13 eration to areas that— 

14 ‘‘(1) are currently facing obstacles to economic 

15 development due to a lack of geographic broadband 

16 coverage or a lack of broadband speed, 

17 ‘‘(2) are currently the focus of mutually rein18 forcing State, local, or private economic development 

19 initiatives, and 

20 ‘‘(3)(A) are poised for economic growth that re21 quires access to high speed broadband for commer22 cial purposes, and 

23 ‘‘(B) represent the areas of a State where such 

24 service would result in the highest return on invest25 ment. 


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1 ‘‘(e) NUMBER OF DESIGNATIONS.— 

2 ‘‘(1) IN GENERAL.—Except as provided by 

3 paragraph (2), the number of population census 

4 tracts in a State that may be designated as qualified 

5 gigabit opportunity zones under this section may not 

6 exceed 25 percent of the number of low-income com7 munities in the State. 

8 ‘‘(2) EXCEPTION.—If the number of low-income 

9 communities in a State is less than 100, then a total 

10 of 25 of such tracts may be designated as qualified 

11 gigabit opportunity zones. 

12 ‘‘(f) DESIGNATION OF TRACTS CONTIGUOUS WITH

13 LOW-INCOME COMMUNITIES.— 

14 ‘‘(1) IN GENERAL.—A population census tract 

15 that is not a low-income community may be des16 ignated as a qualified gigabit opportunity zone under 

17 this section if— 

18 ‘‘(A) such tract meets the requirements of 

19 paragraph (1) of subsection (a), 

20 ‘‘(B) the tract is contiguous with a low-in21 come community that is designated as a quali22 fied gigabit opportunity zone, and 

23 ‘‘(C) the median family income of the tract 

24 does not exceed 150 percent of the median famVerDate Sep 11 2014 02:39 Jul 06, 2021 Jkt 019200 PO 00000 Frm 00006 Fmt 6652 Sfmt 6201 E:\BILLS\H3377.IH H3377

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1 ily income of the low-income community with 

2 which the tract is contiguous. 

3 ‘‘(2) LIMITATION.—Not more than 25 percent 

4 of the population census tracts designated in a State 

5 as a qualified gigabit opportunity zone may be des6 ignated under paragraph (1). 

7 ‘‘(g) PERIOD FOR WHICH DESIGNATION IS IN EF8 FECT.—A designation as a qualified gigabit opportunity 

9 zone shall remain in effect for the period beginning on 

10 the date of the designation and ending at the close of the 

11 7th calendar year beginning on or after such date of des12 ignation. 

13 ‘‘SEC. 1400W–2. DEFERRAL FOR ELIGIBLE TAXPAYER OF 

14 CAPITAL GAINS INVESTED IN GIGABIT OP15 PORTUNITY ZONES. 

16 ‘‘(a) IN GENERAL.— 

17 ‘‘(1) EXCLUSION OF GAIN INVESTED IN GIG18 ABIT OPPORTUNITY ZONE PROPERTY.—In the case 

19 of gain from the sale to, or exchange with, an unre20 lated person of any property held by an eligible tax21 payer, at the election of the eligible taxpayer— 

22 ‘‘(A) gross income for the taxable year 

23 shall not include so much of such gain as does 

24 not exceed the aggregate cost of all qualified 

25 gigabit opportunity zone property acquired by 


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1 the taxpayer during the 180-day period begin2 ning on the date of such sale or exchange, and 

3 ‘‘(B) the amount of gain excluded by sub4 paragraph (A) shall be included in gross income 

5 as provided by paragraph (2). 

6 ‘‘(2) DEFERRAL OF GAIN INVESTED IN QUALI7 FIED GIGABIT OPPORTUNITY ZONE PROPERTY.— 

8 ‘‘(A) YEAR OF INCLUSION.—Except as 

9 provided by subparagraph (C), gain to which 

10 paragraph (1)(B) applies shall be included in 

11 income in the taxable year in which the quali12 fied gigabit opportunity zone property related to 

13 such gain is sold or exchanged in the amount 

14 determined under subparagraph (B). 

15 ‘‘(B) AMOUNT INCLUDIBLE.—The amount 

16 of gain determined under this clause shall be— 

17 ‘‘(i) 100 percent of such gain in the 

18 case of the sale or exchange of the quali19 fied gigabit opportunity zone property with 

20 respect to which gain is deferred under 

21 paragraph (1) that is held for less than 5 

22 years, 

23 ‘‘(ii) 90 percent of such gain in the 

24 case of the sale or exchange of the quali25 fied gigabit opportunity zone property with 


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1 respect to which gain is deferred under 

2 paragraph (1) that is held for at least 5 

3 years but less than 7 years, and 

4 ‘‘(iii) 85 percent of such gain in the 

5 case of the sale or exchange of the quali6 fied gigabit opportunity zone property with 

7 respect to which gain is deferred under 

8 paragraph (1) that is held for at least 7 

9 years. 

10 ‘‘(3) EXCLUSION OF GAIN ON QUALIFIED GIG11 ABIT OPPORTUNITY ZONE PROPERTY HELD FOR AT

12 LEAST 10 YEARS.—Except as provided in paragraph 

13 (2), in the case of the sale or exchange of qualified 

14 gigabit opportunity zone property, or an investment 

15 in a qualified opportunity fund, held for at least 10 

16 years, gross income for the taxable year shall not in17 clude any gain from the sale or exchange of such 

18 property or investment. 

19 ‘‘(4) ONE ELECTION PER PROPERTY.—No elec20 tion may be made under paragraph (1) with respect 

21 to a sale or exchange if an election previously made 

22 with respect to such sale or exchange is in effect. 

23 ‘‘(b) BASIS RULES RELATING TO QUALIFIED GIG24 ABIT OPPORTUNITY ZONE PROPERTY.— 


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1 ‘‘(1) REDUCED BY GAIN DEFERRED UNDER

2 SUBSECTION (a)(1).—The basis of a qualified gig3 abit opportunity zone property immediately after its 

4 acquisition under subsection (a) shall be reduced by 

5 the amount of gain deferred by reason of subsection 

6 (a)(1)(A) with respect to such property. 

7 ‘‘(2) INCREASE FOR GAIN RECOGNIZED UNDER

8 SUBSECTION (a)(2).—The basis of qualified gigabit 

9 opportunity zone property shall be increased by the 

10 amount of gain recognized by reason of subsection 

11 (a)(2) with respect to such property. 

12 ‘‘(3) SUBSEQUENT INCREASE IN BASIS FOR

13 PROPERTY HELD FOR AT LEAST 5 YEARS BUT LESS

14 THAN 10 YEARS.—In the case of qualified gigabit op15 portunity zone property held for at least 5 years but 

16 less than 10 years— 

17 ‘‘(A) PROPERTY HELD FOR 5 YEARS.—For 

18 qualified gigabit opportunity zone property held 

19 for at least 5 years, the basis of such property 

20 shall be increased by an amount equal to 10 

21 percent of the amount of gain deferred by rea22 son of subsection (a)(1)(A) with respect to such 

23 property. 

24 ‘‘(B) PROPERTY HELD FOR 7 YEARS.—For 

25 qualified gigabit opportunity zone property held 


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1 for at least 7 years, the basis of such property 

2 shall be increased by an amount equal to 5 per3 cent of the amount of gain deferred by reason 

4 of subsection (a)(1)(A) with respect to such 

5 property. 

6 ‘‘(c) ELIGIBLE TAXPAYER.—For purposes of this sec7 tion, the term ‘eligible taxpayer’ means any taxpayer who 

8 has a trade or business a substantial part of which con9 sists of selling broadband internet service to commercial 

10 customers, residential customers, or both through one or 

11 a combination of the following technologies: 

12 ‘‘(1) Digital Subscriber Line transmission tech13 nology that transmits data faster over traditional 

14 copper telephone lines, without regards to the spe15 cific type of Digital Subscriber Line transmission 

16 technology such as Asymmetrical Digital Subscriber 

17 Line, Symmetrical Digital Subscriber Line, High 

18 data rate Digital Subscriber Line, or Very High 

19 data rate Digital Subscriber Line. 

20 ‘‘(2) Cable Modem transmission technology that 

21 enables operators to provide broadband using the 

22 same coaxial cables that deliver pictures and sound 

23 to televisions. 


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1 ‘‘(3) Fiber optic transmission technology that 

2 converts electrical signals carrying data to light and 

3 sends the light through transparent glass fibers. 

4 ‘‘(4) Wireless transmission technology that uti5 lizes a radio link between the customer’s location 

6 and the service provider’s facility, whether mobile or 

7 fixed. 

8 ‘‘(5) Satellite transmission technology that pro9 vides broadband links via orbiting satellites. 

10 ‘‘(6) Broadband over powerline transmission 

11 technology that delivers broadband over the existing 

12 low- and medium-voltage electric power distribution 

13 network. 

14 ‘‘(7) Such other technologies as the Secretary, 

15 in consultation with the Federal Communications 

16 Commission, may designate by rule as a broadband 

17 provider technology. 

18 ‘‘(d) QUALIFIED GIGABIT OPPORTUNITY ZONE

19 PROPERTY.—For purposes of this section: 

20 ‘‘(1) IN GENERAL.—The term ‘qualified gigabit 

21 opportunity zone property’ means property which 

22 is— 

23 ‘‘(A) qualified gigabit opportunity zone 

24 stock, 


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1 ‘‘(B) qualified gigabit opportunity zone 

2 partnership interest, 

3 ‘‘(C) qualified gigabit opportunity zone 

4 business property, or 

5 ‘‘(D) an interest in a qualified investment 

6 fund. 

7 ‘‘(2) QUALIFIED GIGABIT OPPORTUNITY ZONE

8 STOCK.— 

9 ‘‘(A) IN GENERAL.—Except as provided in 

10 subparagraph (B), the term ‘qualified gigabit 

11 opportunity zone stock’ means any stock in a 

12 domestic corporation if— 

13 ‘‘(i) such stock is acquired by the tax14 payer after the date of the enactment of 

15 this section, at its original issue (directly 

16 or through an underwriter) from the cor17 poration solely in exchange for cash, 

18 ‘‘(ii) as of the time such stock was 

19 issued, such corporation was a qualified 

20 gigabit opportunity zone business (or, in 

21 the case of a new corporation, such cor22 poration was being organized for purposes 

23 of being a qualified gigabit opportunity 

24 zone business), and 


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1 ‘‘(iii) during substantially all of the 

2 taxpayer’s holding period for such stock, 

3 such corporation qualified as a qualified 

4 gigabit opportunity zone business. 

5 ‘‘(B) REDEMPTIONS.—A rule similar to 

6 the rule of section 1202(c)(3) shall apply for 

7 purposes of this paragraph. 

8 ‘‘(3) QUALIFIED GIGABIT OPPORTUNITY ZONE

9 PARTNERSHIP INTEREST.—The term ‘qualified gig10 abit opportunity zone partnership interest’ means 

11 any capital or profits interest in a domestic partner12 ship if— 

13 ‘‘(A) such interest is acquired by the tax14 payer after the date of the enactment of this 

15 section, from the partnership solely in exchange 

16 for cash, 

17 ‘‘(B) as of the time such interest was ac18 quired, such partnership was a qualified gigabit 

19 opportunity zone business (or, in the case of a 

20 new partnership, such partnership was being 

21 organized for purposes of being a qualified gig22 abit opportunity zone business), and 

23 ‘‘(C) during substantially all of the tax24 payer’s holding period for such interest, such 


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1 partnership qualified as a qualified gigabit op2 portunity zone business. 

3 ‘‘(4) QUALIFIED GIGABIT OPPORTUNITY ZONE

4 BUSINESS PROPERTY.— 

5 ‘‘(A) IN GENERAL.—The term ‘qualified 

6 gigabit opportunity zone business property’ 

7 means tangible property used in a trade or 

8 business of the taxpayer if— 

9 ‘‘(i) such property— 

10 ‘‘(I) is used primarily to provide 

11 broadband transmission services to 

12 areas which do not have fixed terres13 trial broadband service that meets the 

14 current speed benchmark for fixed 

15 services (as determined by the Federal 

16 Communications Commission in its 

17 most recent report issued pursuant to 

18 section 706 of the Telecommuni19 cations Act of 1996 (47 U.S.C. 

20 1302)), and 

21 ‘‘(II) is capable of transmitting 

22 signals at a rate of at least 

23 1,000,000,000 bits per second, 

24 ‘‘(ii) such property was acquired by 

25 the taxpayer by purchase (as defined in 


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1 section 179(d)(2)) after the date of the en2 actment of this section, 

3 ‘‘(iii) the original use of such property 

4 in the qualified gigabit opportunity zone 

5 commences with the taxpayer or the tax6 payer substantially improves the property, 

7 and 

8 ‘‘(iv) during substantially all of the 

9 taxpayer’s holding period for such prop10 erty, substantially all of the use of such 

11 property was in a qualified gigabit oppor12 tunity zone. 

13 ‘‘(B) SPECIAL RULE FOR CERTAIN PROP14 ERTY.—In the case of property which is placed 

15 in service before January 1, 2024, and which is 

16 with respect to technology described in para17 graph (4) or (5) of subsection (c), subpara18 graph (A)(i)(II) shall be applied by substituting 

19 ‘150,000,000 bits per second’ for 

20 ‘1,000,000,000 bits per second’. 

21 ‘‘(C) SUBSTANTIAL IMPROVEMENT.—For 

22 purposes of subparagraph (A)(iii), property 

23 shall be treated as substantially improved by 

24 the taxpayer only if, during any 30-month pe25 riod beginning after the date of acquisition of 


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1 such property, additions to basis with respect to 

2 such property in the hands of the taxpayer ex3 ceed an amount equal to the adjusted basis of 

4 such property at the beginning of such 30- 

5 month period in the hands of the taxpayer. 

6 ‘‘(D) TREATMENT OF RELATED PAR7 TIES.—For purposes of subparagraph (A)(ii), 

8 the rules of subparagraph (A) of section 

9 179(d)(2) shall be applied using the relation10 ship described in subsection (e)(2) in lieu of the 

11 relationship described in such subparagraph. 

12 ‘‘(5) QUALIFIED GIGABIT OPPORTUNITY

13 FUND.—The term ‘qualified gigabit opportunity 

14 fund’ means any investment vehicle organized as a 

15 corporation or a partnership for the purpose of in16 vesting in qualified gigabit opportunity zone prop17 erty (other than another qualified opportunity fund) 

18 that holds at least 90 percent of its assets in quali19 fied opportunity zone property, determined— 

20 ‘‘(A) on the last day of the first 6-month 

21 period of the taxable year of the fund, and 

22 ‘‘(B) on the last day of the taxable year of 

23 the fund. 

24 ‘‘(6) QUALIFIED GIGABIT OPPORTUNITY ZONE

25 BUSINESS.— 


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1 ‘‘(A) IN GENERAL.—The term ‘qualified 

2 gigabit opportunity zone business’ means a 

3 trade or business— 

4 ‘‘(i) in which substantially all of the 

5 tangible property owned or leased by the 

6 taxpayer is qualified gigabit opportunity 

7 zone business property, 

8 ‘‘(ii) which satisfies the requirements 

9 of paragraphs (2), (4), and (8) of section 

10 1397C(b), and 

11 ‘‘(iii) which is not described in section 

12 144(c)(6)(B). 

13 ‘‘(B) SPECIAL RULE.—For purposes of 

14 subparagraph (A), tangible property that ceases 

15 to be a qualified gigabit opportunity zone busi16 ness property shall continue to be treated as a 

17 qualified gigabit opportunity zone business 

18 property for the lesser of— 

19 ‘‘(i) 5 years after the date on which 

20 such tangible property ceases to be so 

21 qualified, or 

22 ‘‘(ii) the date on which such tangible 

23 property is no longer held by the qualified 

24 gigabit opportunity zone business. 

25 ‘‘(e) APPLICABLE RULES.— 


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1 ‘‘(1) IN GENERAL.—For purposes of this sec2 tion and except as otherwise provided in this section, 

3 rules similar to the rules applicable to deferred like 

4 kind exchanges under section 1031 shall apply ex5 cept that reinvestment in qualified gigabit oppor6 tunity zone property need not require an inter7 mediary party. 

8 ‘‘(2) RELATED PERSONS.—For purposes of this 

9 subsection, persons are related to each other if such 

10 persons are described in section 267(b) or 707(b)(1), 

11 determined by substituting ‘20 percent’ for ‘50 per12 cent’ each place it occurs in such sections. 

13 ‘‘(3) DECEDENTS.—In the case of a decedent, 

14 amounts recognized under this section shall, if not 

15 properly includible in the gross income of the dece16 dent, be includible in gross income as provided by 

17 section 691. 

18 ‘‘(4) REGULATIONS.—The Secretary shall pre19 scribe such regulations as may be necessary or ap20 propriate to carry out the purposes of this section, 

21 including— 

22 ‘‘(A) rules providing for proportionate in23 clusion in income and increases in basis for 

24 purposes of subsections (a) and (b) in cases in 

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1 abit opportunity zone property with respect to 

2 which gain is deferred under subsection 

3 (a)(1)(A) is less than all of such property, 

4 ‘‘(B) rules requiring taxpayers to provide 

5 such information as the Secretary determines to 

6 be necessary or appropriate for the identifica7 tion of both the assets sold (including basis and 

8 sale price) and the assets acquired and invest9 ments made, and 

10 ‘‘(C) rules to prevent abuse. 

11 ‘‘SEC. 1400W–3. IMMEDIATE EXPENSING OF QUALIFIED GIG12 ABIT OPPORTUNITY ZONE BUSINESS PROP13 ERTY. 

14 ‘‘(a) IN GENERAL.—An eligible taxpayer may elect 

15 to treat the cost of any qualified gigabit opportunity zone 

16 business property (as defined in section 1400W–2) as an 

17 expense which is not chargeable to capital account. Any 

18 cost so treated shall be allowed as a deduction for the tax19 able year in which the qualified gigabit opportunity zone 

20 business property is placed in service. 

21 ‘‘(b) ELIGIBLE TAXPAYER.—For purposes of this 

22 section, the term ‘eligible taxpayer’ has the same meaning 

23 given to such term under section 1400W–2(c). 

24 ‘‘(c) EXCEPTION FOR CERTAIN PROPERTY.—For 

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1 tunity zone business property’ shall not include any prop2 erty to which section 168(g) applies. 

3 ‘‘(d) ELECTION.—An election under this section shall 

4 be made under rules similar to the rules of section 179(c). 

5 ‘‘(e) COORDINATION WITH SECTION 179.—For pur6 poses of section 179, qualified gigabit opportunity zone 

7 business property shall not be treated as section 179 prop8 erty. 

9 ‘‘(f) APPLICATION OF OTHER RULES.—Rules similar 

10 to the rules of paragraphs (3), (4), (5), (7), (9), and (10) 

11 of section 179(d) shall apply for purposes of this section. 

12 ‘‘(g) TAXPAYER REPORTING.—This section shall not 

13 apply with respect to any taxpayer for any taxable year 

14 unless such taxpayer provides the Secretary with such in15 formation as the Secretary may require to allow the Sec16 retary to evaluate the effectiveness of the program estab17 lished under this part.’’. 

18 (b) BASIS ADJUSTMENTS.—Section 1016(a) of such 

19 Code is amended by striking ‘‘and’’ at the end of para20 graph (37), by striking the period at the end of paragraph 

21 (38) and inserting ‘‘, and’’, and by inserting after para22 graph (38) the following new paragraph: 

23 ‘‘(39) to the extent provided in section 1400W– 

24 2(b).’’. 


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1 (c) CLERICAL AMENDMENT.—The table of sub2 chapters for chapter 1 of such Code is amended by insert3 ing after the item relating to subchapter V the following 

4 new item: 

‘‘SUBCHAPTER W. GIGABIT OPPORTUNITY ZONES’’. 

5 SEC. 3. PRIVATE ACTIVITY BONDS FOR QUALIFIED 

6 BROADBAND PROJECTS. 

7 (a) IN GENERAL.—Section 142(a) of the Internal 

8 Revenue Code of 1986 is amended by striking ‘‘or’’ at the 

9 end of paragraph (14), by striking the period at the end 

10 of paragraph (15) and inserting ‘‘, or’’, and by adding at 

11 the end the following new paragraph: 

12 ‘‘(16) qualified broadband projects.’’. 

13 (b) QUALIFIED BROADBAND PROJECTS.—Section 

14 142 of such Code is amended by adding at the end the 

15 following new subsection: 

16 ‘‘(n) QUALIFIED BROADBAND PROJECT.— 

17 ‘‘(1) IN GENERAL.—For purposes of subsection 

18 (a)(16), the term ‘qualified broadband project’ 

19 means any project which— 

20 ‘‘(A) is located in a jurisdiction that has 

21 been certified by the Secretary, in consultation 

22 with the National Telecommunications and In23 formation Administration, as having adopted 

24 the Uniform Model Broadband Deployment Act 

25 prescribed by the Federal Communications 


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1 Commission pursuant to section 4 of the Gig2 abit Opportunity Act, and 

3 ‘‘(B) results in gigabit capable internet ac4 cess to residential or commercial locations— 

5 ‘‘(i) where a broadband service pro6 vider previously did not provide service, or 

7 ‘‘(ii) which do not have fixed terres8 trial broadband service that meets the cur9 rent speed benchmark for fixed services (as 

10 determined by the Federal Communica11 tions Commission in its most recent report 

12 issued pursuant to section 706 of the Tele13 communications Act of 1996 (47 U.S.C. 

14 1302)).’’. 

15 (c) EFFECTIVE DATE.—The amendments made by 

16 this section shall apply to bonds issued after the date of 

17 the enactment of this Act. 

18 SEC. 4. UNIFORM MODEL BROADBAND DEPLOYMENT ACT. 

19 (a) IN GENERAL.—Not later than 1 year after the 

20 date of the enactment of this Act, the Federal Commu21 nications Commission shall publish a Uniform Model 

22 Broadband Deployment Act containing laws for the State 

23 regulation of the deployment of broadband services. 

24 (b) NO INFERENCE RELATING TO DATA COLLEC25 TION.—Nothing in this Act or the amendments made by 


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1 this Act shall be construed to provide additional authority 

2 for the collection of data to the Federal Communications 

3 Commission or the National Telecommunications and In4 formation Administration. 

Æ 


pbinns on DSKJLVW7X2PROD with BILLS