Broadband Grant Tax Treatment Act

This bill says that companies receiving government grants to build or expand broadband internet service would not have to pay federal taxes on that grant money. A 2017 law had changed the rules so that government grants like these were treated as taxable income, but this bill reverses that for broadband-related grants from several specific federal programs. The bill also requires the IRS to provide guidance on how this tax exclusion works, and it applies to grant money received in tax years ending after March 11, 2021.

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