Instructions: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. SHORT TITLE.

This Act may be cited as the ''Rural America Digital Accessibility
Act''.

SEC. 2. GRANTS TO FACILITATE DEPLOYMENT OF BROADBAND TELECOMMUNICATIONS
CAPABILITIES TO UNDERSERVED RURAL AREAS.

(a) In General.--In order to facilitate the deployment by the
private sector of broadband telecommunications networks and
capabilities (including wireless and satellite networks and
capabilities) to underserved rural areas, the Secretary of Commerce (in
this section, referred to as the ''Secretary'') may--
(1) make grants to eligible recipients for that purpose;
(2) guarantee loans, either whole or in part, of eligible
recipients the proceeds of which are to be used for that
purpose; or
(3) carry out activities under both paragraphs (1) and (2).
(b) Eligible Recipients.--For purposes of this section, an eligible
recipient of a grant or loan guarantee under subsection (a) is any
person or entity selected by the Secretary in accordance with such
procedures as the Secretary shall establish.
(c) Underserved Rural Areas.--The Secretary shall identify the
areas that constitute underserved rural areas for purposes of this
section.
(d) Emphasis on Particular Capabilities.--In selecting a person or
entity as an eligible recipient of a grant or loan guarantee under
subsection (a), the Secretary shall give particular emphasis to persons
or entities that propose to use the grant or the proceeds of the loan
guaranteed, as the case may be, to leverage non-Federal resources to do
one or more of the following:
(1) Provide underserved rural areas with access to Internet
service by local telephone.
(2) Demonstrate new models or emerging technologies to
bring broadband telecommunications services to underserved
rural areas on a cost-effective basis.
(3) Use broadband telecommunications services to stimulate
economic development, such as providing connections between and
among industrial parks located in such areas and providing
high-speed telecommunications service links to small business
incubators.
(e) Consultation.--The Secretary may consult with the Federal
Communications Commission in carrying out activities under this
section.
(f) Limitation on Amount.--The amount of any grants made under this
section, and the cost (as defined in section 502(5) of the Federal
Credit Reform Act of 1990 (2 U.S.C. 661a(5)) of any loans guaranteed
under this section, may not, in the aggregate, exceed $100,000,000.
(g) Authorization of Appropriations.--There is authorized to be
appropriated for the Department of Commerce for purposes of grants and
loan guarantees under this section $100,000,000 for fiscal year 2002,
and such sums as are necessary for each fiscal year thereafter.

SEC. 3. RESEARCH ON ENHANCEMENT OF BROADBAND TELECOMMUNICATIONS
SERVICES.

(a) In General.--The Director of the National Science Foundation
(in this section, referred to as the ''Director'') shall carry out
research on the following:
(1) Means of enhancing or facilitating the availability of
broadband telecommunications services in rural areas and other
remote areas.
(2) Means of facilitating or enhancing access to the
Internet through broadband telecommunications services.
(b) Scope of Authority.--The Director may carry out research under
subsection (a) within the National Science Foundation or pursuant to
such grants, agreements, or other arrangements as the Director
considers appropriate.
(c) Results of Research.--The Director shall make available to the
public, in such manner as the Director considers appropriate, the
results of any research carried out under this section.
(d) Authorization of Appropriations.--There is authorized to be
appropriated for the National Science Foundation for purposes of
activities under this section $25,000,000 for fiscal year 2002, and
such sums as are necessary for each fiscal year thereafter.

SEC. 4. TAX CREDIT TO HOLDERS OF QUALIFIED TECHNOLOGY BONDS.

(a) In General.--Part IV of subchapter A of chapter 1 of the
Internal Revenue Code of 1986 (relating to credits against tax) is
amended by adding at the end the following new subpart:

''Subpart H--Nonrefundable Credit for Holders of Qualified Technology
Bonds

''Sec. 54. Credit to holders of qualified technology bonds.

''SEC. 54. CREDIT TO HOLDERS OF QUALIFIED TECHNOLOGY BONDS.

''(a) Allowance of Credit.--In the case of a taxpayer who holds a
qualified technology bond on a credit allowance date of such bond which
occurs during the taxable year, there shall be allowed as a credit
against the tax imposed by this chapter for such taxable year the
amount determined under subsection (b).
''(b) Amount of Credit.--
''(1) In general.--The amount of the credit determined
under this subsection with respect to any qualified technology
bond is the amount equal to the product of--
''(A) the credit rate determined by the Secretary
under paragraph (2) for the month in which such bond
was issued, multiplied by
''(B) the face amount of the bond held by the
taxpayer on the credit allowance date.
''(2) Determination.--During each calendar month, the
Secretary shall determine a credit rate which shall apply to
bonds issued during the following calendar month. The credit
rate for any month is the percentage which the Secretary
estimates will permit the issuance of qualified technology
bonds without discount and without interest cost to the issuer.
''(c) Limitation Based on Amount of Tax.--The credit allowed under
subsection (a) for any taxable year shall not exceed the excess of--
''(1) the sum of the regular tax liability (as defined in
section 26(b)) plus the tax imposed by section 55, over
''(2) the sum of the credits allowable under this part
(other than this subpart and subpart C).
''(d) Qualified Technology Bond.--For purposes of this part--
''(1) In general.--The term 'qualified technology bond'
means any bond issued as part of an issue if--
''(A) 95 percent of more of the proceeds of such
issue are to be used for any or a series of qualified
projects,
''(B) the bond is issued by a State or local
government within the jurisdiction of which such
project is located,
''(C) the issuer designates such bond for purposes
of this section,
''(D) certifies that it has obtained the written
approval of the Secretary of Commerce for such project,
and
''(E) the term of each bond which is part of such
issue does not exceed 15 years.
''(2) Qualified project.--
''(A) In general.--The term 'qualified project'
means a project--
''(i) to expand broadband
telecommunications services in an area within
the jurisdiction of a State or local
government,
''(ii) which is nominated by such State or
local government for a designation as a
qualified project, and
''(iii) which the Secretary of Commerce,
after consultation with the Secretary of
Housing and Urban Development designates as a
qualified project or a series of qualified
projects.
''(B) Designation preferences.--With respect to
designations under this section, preferences shall be
given to--
''(i) nominations of projects involving
underserved urban or rural areas lacking access
to high-speed Internet connections, and
''(ii) nominations reflecting partnerships
and comprehensive planning between State and
local governments and the private sector.
''(e) Limitation on Amount of Bonds Designated.--
''(1) National limitation.--There is a national technology
bond limitation for each calendar year. Such limitation is
$100,000,000 for 2002, 2003, 2004, 2005, and 2006, and, except
as provided in paragraph (4), zero thereafter.
''(2) Allocation of limitation.--The national technology
bond limitation for a calendar year shall be allocated by the
Secretary among the qualified projects designated for such
year.
''(3) Designation subject to limitation amount.--The
maximum aggregate face amount of bonds issued during any
calendar year which may be designated under subsection (d)(1)
with respect to any qualified project shall not exceed the
limitation amount allocated to such project under paragraph (2)
for such calendar year.
''(4) Carryover of unused limitation.--If for any calendar
year--
''(A) the national technology limitation amount,
exceeds
''(B) the amount of bonds issued during such year
which are designated under subsection (d)(1) with
respect to qualified projects,
the national technology limitation amount for the following
calendar year shall be increased by the amount of such excess.
''(f) Other Definitions.--For purposes of this subpart--
''(1) Bond.--The term 'bond' includes any obligation.
''(2) Credit allowance date.--The term 'credit allowance
date' means, with respect to any issue, the last day of the 1-
year period beginning on the date of issuance of such issue and
the last day of each successive 1-year period thereafter.
''(3) State.--The term 'State' means the several States and
the District of Columbia.
''(g) Credit Included in Gross Income.--Gross income includes the
amount of the credit allowed to the taxpayer under this section
(determined without regard to subsection (c)) and the amount so
included shall be treated as interest income.
''(h) Other Special Rules.--
''(1) Partnership; s corporation; and other pass-thru
entities.--Under regulations prescribed by the Secretary, in
the case of a partnership, trust, S corporation, or other pass-
thru entity, rules similar to the rules of section 41(g) shall
apply with respect to the credit allowable under subsection
(a).
''(2) Bonds held by regulated investment companies.--If any
qualified technology bond is held by a regulated investment
company, the credit determined under subsection (a) shall be
allowed to shareholders of such company under procedures
prescribed by the Secretary.
''(3) Treatment for estimated tax purposes.--Solely for
purposes of sections 6654 and 6655, the credit allowed by this
section to a taxpayer by reason of holding a qualified
technology bond on a credit allowance date shall be treated as
if it were a payment of estimated tax made by the taxpayer on
such date.
''(4) Reporting.--Issuers of qualified technology bonds
shall submit reports similar to the reports required under
section 149(e).''.
(b) Reporting.--Subsection (d) of section 6049 of the Internal
Revenue Code of 1986 (relating to returns regarding payments of
interest) is amended by adding at the end the following new paragraph:
''(8) Reporting of credit on qualified technology bonds.--
''(A) In general.--For purposes of subsection (a),
the term 'interest' includes amounts includible in
gross income under section 54(g) and such amounts shall
be treated as paid on the credit allowance date (as
defined in section 54(f)(2)).
''(B) Reporting to corporations, etc.--Except as
otherwise provided in regulations, in the case of any
interest described in subparagraph (A) of this
paragraph, subsection (b)(4) of this section shall be
applied without regard to subparagraphs (A), (H), (I),
(J), (K), and (L)(i).
''(C) Regulatory authority.--The Secretary may
prescribe such regulations as are necessary or
appropriate to carry out the purposes of this
paragraph, including regulations which require more
frequent or more detailed reporting.''.
(c) Clerical Amendments.--
(1) The table of subparts for part IV of subchapter A of
chapter 1 of the Internal Revenue Code of 1986 is amended by
adding at the end the following new item:

''Subpart H. Nonrefundable Credit for Holders of Qualified
Technology Bonds.''.
(2) Section 6401(b)(1) of such Code is amended by striking
''and G'' and inserting ''G, and H''.
(d) Effective Date.--The amendments made by this section shall
apply to obligations issued after December 31, 2001.

SEC. 5. GRANTS FOR TECHNOLOGY EXTENSION.

(a) Purpose.--It is the purpose of this section--
(1) to encourage meaningful use of the most advanced
available technologies by small businesses and medium-sized
businesses to the maximum extent possible to improve the
productivity of those businesses and thereby to promote
economic growth; and
(2) to promote regional partnerships between educational
institutions and businesses to develop such technologies and
products in the surrounding areas.
(b) Grant Program.--To achieve the purpose of this section, the
Secretary of Commerce (in this section, referred to as the
''Secretary'') shall carry out a program to provide, through grants,
financial assistance for the establishment and support of regional
centers for the commercial use of advanced technologies by small
businesses and medium-sized businesses.
(c) Eligibility.--An entity is eligible to receive a grant as a
regional center under this section if the entity--
(1) is affiliated with a United States-based institution or
organization that is operated on a not-for-profit basis, or any
combination of two or more of such institutions or
organizations;
(2) offers to enter into an agreement with the Secretary to
function as a regional center for the commercial use of
advanced technologies for the purpose of this section within a
region determined appropriate by the Secretary; and
(3) demonstrates that it has the capabilities necessary to
achieve the purpose of this section through its operations as a
center within that region.
(d) Selection of Applicants.--
(1) Competitive process.--The Secretary shall use a
competitive process for the awarding of grants under this
section and, under that process, select recipients of the
grants on the basis of merit, with priority given to
underserved areas.
(2) Applications for grants.--The Secretary shall prescribe
the form and content of applications required for grants under
this section.
(e) Specific Activities of Regional Centers.--A regional center may
use the proceeds of a grant under this section for any activity that
carries out the purpose of this section, including such activities as
the following:
(1) Assist small businesses and medium-sized businesses to
address their most critical needs for the application of the
latest technology, improvement of infrastructure, and use of best
business practices.
(2) In conjunction with institutions of higher education
and laboratories located in the region, transfer technologies
to small businesses and medium-sized businesses located in such
region to create jobs and increase production in surrounding
areas.
(f) Additional Administrative Authorities.--
(1) Cost-sharing.--The Secretary may require the recipient
of a grant to defray, out of funds available from sources other
than the Federal Government, a specific level of the operating
expenses of the regional center for which the grant is made.
(2) Additional terms and conditions.--The Secretary, in
awarding a grant, may impose any other terms and conditions for
the use of the proceeds of the grant that the Secretary
determines appropriate for carrying out the purposes of this
section and to protect the interests of the United States.
(g) Definitions of Small Business and Medium-Sized Business.--
(1) Secretary to prescribe.--The Secretary shall prescribe
the definitions of the terms ''small business'' and ''medium-
sized business'' for the purpose of this section.
(2) Small business standards.--In defining the term ''small
business'', the Secretary shall apply the standards applicable
for the definition of the term ''small-business concern'' under
section 3 of the Small Business Act (15 U.S.C. 632).
(h) Regulations.--The Secretary shall prescribe regulations for the
grant program administered under this section.
(i) Authorization of Appropriations.--There is authorized to be
appropriated for the Department of Commerce for carrying out this
section $125,000,000 for fiscal year 2002, and such sums as are
necessary for each fiscal year thereafter.
Output:
Rural America Digital Accessibility Act - Authorizes the Secretary of Commerce to make grants or guarantee loans in order to facilitate the deployment by the private sector of broadband telecommunications networks and capabilities (including wireless and satellite services) to underserved rural areas. Limits to $100 million the total amount of such grants and loan guarantees.Requires the Director of the National Science Foundation to research the enhancement or facilitation of broadband telecommunications services in rural and other remote areas, as well as Internet access through such services.Amends the Internal Revenue Code to provide a tax credit to holders of qualified technology bonds (bonds representing an investment in projects to expand such telecommunications services). Sets a national technology bond limitation of $100 million for each of FY 2002 through 2006, and zero thereafter (with an exception) to be allocated by the Secretary among the qualified projects designated each year.Directs the Secretary to provide financial assistance for the establishment and support of regional centers for the commercial use of advanced technologies by small and medium-sized businesses.