Proposal:Broadband SALE Act

This proposal is archived and closed to further debate. It was introduced in the 118th Congress, which has concluded, and the bill was not enacted into law.

Bill	HR 1178
Type of Legislation	House Bill
Congress	118
Status	Archived — 118th Congress concluded
Source	View original on Congress.gov

Geographic Scope

National

Description

Broadband Stock Acquisition in Local Exchanges Act or the Broadband SALE Act

This bill allows an exclusion from gross income, for income tax purposes, of gain from the sale or exchange of the entire interest in a wholly-owned rural incumbent local exchange carrier. A rural incumbent local exchange carrier is a carrier that serves (1) an area where it was required to provide communications services by a specified date to any customer regardless of cost, and (2) an area other than an urbanized area with not fewer than 50,000 people and a core where there are not fewer than 1,000 people per square mile. The bill requires recapture of tax for income from the sale or exchange of stock in a carrier not held for at least one year.

The bill allows an investment tax credit for 30% of expenditures to purchase, maintain, or improve property to provide voice telephone service or broadband internet access in rural empowerment zones.

Bill Title

Broadband SALE Act

Linked Goals

• Goal:Promote General Welfare

Steps

• 2023-02-24: Referred to the House Committee on Ways and Means.
• 2023-02-24: Introduced in House
• 2023-02-24: Introduced in House

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.