,,ii  #aag? ,,congress  #b;d ,session   
,s4 #ejba  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,septemb] #bi1         
#bjbb,mr4 ,w>n] 7= himself1 ,mr4 ,moran1
 ,mr4 ,ka9e1 ,mr4 ,wick]1 ,mr4 ,w>nock1 
& ,mrs4 ,capito7 introduc$ ! foll[+     
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,f9ance  ,a ,,bill  ,to   
am5d ! ,int]nal ,rev5ue ,code ( #aihf to
 exclude c]ta9 broadb& grants f gross   
income4  #a4 ,%ort title ,?is ,act may  
be cit$ z ! ,broadb& ,grant ,tax        
,treatm5t ,act4  #b4 ,c]ta9 grants =    
broadb& exclud$ f gross income  7a7 ,9  
g5]al ,"p ,,iii ( sub*apt] ,b ( *apt] #a
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by ins]t+ aft] section #aci;,i !  
foll[+ new subsection3  #aci;,j4 ,c]ta9 
broadb& grants  7a7 ,9 g5]al ,gross     
income %all n include any qualifi$      
broadb& grant made = purposes ( broadb& 
deploym5t4  7b7 ,d5ial ( d\ble b5efit   
,not)/&+ any o!r provision ( ?is        
subtitle1 no d$uction or cr$it %all be  
all[$ =1 or by reason (1 any exp5diture 

to ! ext5t ( ! am\nt exclud$ "u         
subsection 7a7 = any qualifi$ broadb&   
grant :i* 0 provid$ ) respect to su*    
exp5diture4 ,! adju/$ basis ( any       
prop]ty %all be r$uc$ by ! am\nt exclud$
 "u subsection 7a7 :i* 0 provid$ )      
respect to su* prop]ty4  7c7 ,qualifi$  
broadb& grant ,= purposes ( ?is section1
 ! t]m qualifi$ broadb& grant means--   
7#a7 any grant or subgrant receiv$ "u ! 
,broadb& ,equity1 ,access1 & ,deploym5t 
,program e/abli%$ "u section #fjajb ( ! 
,infra/ructure ,inve/m5t & ,jobs ,act1  
7#b7 any grant or subgrant receiv$ "u ! 
,/ate ,digital ,equity ,capacity ,grant 
,program e/abli%$ "u section #fjcjd (   
su* ,act1  7#c7 any grant receiv$ "u !  
,digital ,equity ,competitive ,grant    
,program e/abli%$ "u section #fjcje (   
su* ,act1  7#d7 any grant receiv$ "u    
section #fjdja ( su* ,act 7relat+ to    
middle mile grants71  7#e7 any grant    
receiv$-- 7,a7 "u ! broadb& loan & grant
 pilot program e/abli%$ by section #ggi 
( ,public ,law #aae-ada "u ! ,rural     

,electrification ,act ( #aicf2 &  7,b7 f
 funds made available = su* program "u !
 head+ ,di/ance ,le>n+1 ,telem$ic9e1 &  
,broadb& ,program "u ! head+ ,rural     
,utilities ,s]vice "u title ,i (        
division ,j ( ! ,infra/ructure ,inve/m5t
 & ,jobs ,act1  7#f7 any grant receiv$ f
 a ,/ate1 t]ritory1 ,tribal gov]nm5t1 or
 unit ( local gov]nm5t to ! ext5t su*   
grant 0-- 7,a7 fund$ by am\nts provid$  
to ! ,/ate or local gov]nm5t "u section 
#fjb1 #fjc1 or #fjd ( ! ,social         
,security ,act1 &  7,b7 provid$ = ! /at$
 purposes ( mak+ inve/m5ts 9 broadb&    
infra/ructure1 or  7#g7 any grant or    
subgrant receiv$ "u section #ije (      
division ,n ( ! ,consolidat$            
,appropriations ,act1 #bjba4  7d7       
,regulations ,! ,secret>y %all issue su*
 regulations or o!r guidance z may be   
necess>y or appropriate to c>ry out !   
purposes ( ?is section4  4  7b7 ,cl]ical
 am5dm5t ,! table ( sections = "p ,,iii 
( sub*apt] ,b ( *apt] #a ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by ins]t+

 aft] ! item relat$ to section #aci;,i !
 foll[+ new item3  ,sec4 #aci;,j4 ,c]ta9
 broadb& grants4  4  7c7 ,effective date
 ,! am5dm5ts made by ?is section %all   
apply to am\nts receiv$ 9 taxable ye>s  
end+ aft] ,m>* #aa1 #bjba4