H.R. 1178: Broadband SALE Act
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H.R. 1178: Broadband SALE Act
118th Congress · introduced 2023-02-24 · Taxation · Latest: Referred to the House Committee on Ways and Means.
federal
Follow this bill, step by step
- Where it came from: introduced 2023-02-24 · official record
- Who proposed it: Rep. Ferguson, A. Drew, IV [R-GA-3] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Broadband SALE Act
Plain summary
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.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Ferguson, A. Drew, IV [R-GA-3] · 0 cosponsors
Cost estimate: No cost estimate published yet.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-118hr1178.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/118/hr>
Record fed-us-cong118-hr1178 · catalog fed-us-congress-bills-cong118 · updated 2026-11-15 by psicol fed-bills-cong118