I 
117TH CONGRESS 
2D SESSION 
H. R. 8099 
To amend the Internal Revenue Code of 1986 to modify the rules applicable 
to using private activity bonds for broadband projects. 
IN THE HOUSE OF REPRESENTATIVES 
JUNE 16, 2022 
Mr. BUDD 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 juris-
diction of the committee concerned 
A BILL 
To amend the Internal Revenue Code of 1986 to modify 
the rules applicable to using private activity bonds for 
broadband projects. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Encouraging Private 
Investment for Better Broadband Act’’. 
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SEC. 2. MODIFICATION OF RULES FOR USING PRIVATE AC-
TIVITY BONDS FOR BROADBAND PROJECTS. 
(a) IN GENERAL.—Section 142(n)(1)(A) of the Inter-
nal Revenue Code of 1986 is amended— 
(1) by striking ‘‘25 megabits’’ and inserting 
‘‘100 megabits’’, and 
(2) by striking ‘‘3 megabits’’ and inserting ‘‘20 
megabits’’. 
(b) EXCEPTION
FROM
VOLUME
CAP.—Section 
146(g) of such Code is amended— 
(1) by striking ‘‘or (15)’’ in paragraph (3) and 
inserting ‘‘(15), or (16)’’, 
(2) by adding ‘‘and’’ at the end of paragraph 
(4), and 
(3) by striking paragraph (5) and redesignating 
paragraph (6) as paragraph (5). 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to bonds issued after the date of 
the enactment of this Act. 
SEC. 3. REPORT TO CONGRESS AND STAKEHOLDER INPUT. 
(a) REPORT
TO CONGRESS.—Not later than 18 
months after the date of the enactment of this Act, the 
Secretary of the Treasury and the Federal Communica-
tions Commission shall jointly submit to Congress a writ-
ten report which includes— 
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(1) the total number of private activity bonds 
for qualified broadband projects issued by States 
and their political subdivisions, 
(2) the number of such projects that have been 
completed, 
(3) the number of such projects that defaulted 
or were not completed, 
(4) the increase in the number of individuals 
with access to 100 megabits per second downstream 
and 20 megabits per second upstream after the date 
of the enactment of this Act, 
(5) the total dollar amount of private activity 
bonds for qualified broadband projects issued after 
the date of the enactment of this Act, and 
(6) a report regarding the identification of mat-
ters described in subsection (b). 
(b) STAKEHOLDER INPUT.—For purposes of pre-
paring the report described in subsection (a), the Sec-
retary of the Treasury and the Federal Communications 
Commission shall solicit input from appointed representa-
tives of the Governor of each State as well as representa-
tives of the three largest private internet service providers 
in each State measured by annual reported revenue, in-
cluding input related to the identification of any provision 
of Federal law, or lack thereof, which limits the volume 
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of investment in private activity bonds for qualified 
broadband projects, including census mapping, right-of- 
way and easement issues, competition with existing grant 
programs, or any other matter which limits such invest-
ment. If the representatives appointed by any Governor 
under the preceding sentence do not include at least one 
representative of an internet service provider that pri-
marily services rural communities and at least one rep-
resentative of an internet service provider organized as a 
cooperative, the Secretary of the Treasury and the Federal 
Communications Commission shall solicit input from one 
or more of such representatives without regard to whether 
they have been appointed by such Governor. The preceding 
sentence shall not apply to the extent that a State does 
not have at least one of the internet service providers de-
scribed in such sentence. 
Æ 
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