3.0.0 2870 2023-01-11T13:37:51Z 2023-01-11T13:37:51Z House HR 2017-06-12 115 [Congressional Record Volume 163, Number 99 (Monday, June 12, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. COLLINS of Georgia:H.R. 2870.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clauses 1, 3, and 17.[Page H4854]]]> hsif00 Energy and Commerce Committee House Standing hsif16 Communications and Technology Subcommittee Referred to 2017-06-16T19:45:00Z Referred to 2017-06-12T16:01:00Z hswm00 Ways and Means Committee House Standing Referred to 2017-06-12T16:00:54Z Gigabit Opportunity Act 115 1013 S 2017-05-03 Read twice and referred to the Committee on Finance. Identical bill CRS 2017-06-16 hsif16 Communications and Technology Subcommittee 1 House committee actions Referred to the Subcommittee on Communications and Technology. Committee 2017-06-12 Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hsif00 Energy and Commerce Committee 2017-06-12 Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2017-06-12 Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-06-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-06-12 Introduced in House IntroReferral 1000 9 Library of Congress C001093 Rep. Collins, Doug [R-GA-9] Doug Collins R GA 9 N S001195 Rep. Smith, Jason [R-MO-8] Jason Smith R MO 8 2017-06-12 True T000475 Rep. Trott, David A. [R-MI-11] David Trott R MI A. 11 2017-06-20 False J000297 Rep. Jenkins, Evan H. [R-WV-3] Evan Jenkins R WV H. 3 2017-06-21 False W000804 Rep. Wittman, Robert J. [R-VA-1] Robert Wittman R VA J. 1 2017-06-26 False M001194 Rep. Moolenaar, John R. [R-MI-4] John Moolenaar R MI R. 4 2017-06-26 False M001195 Rep. Mooney, Alexander X. [R-WV-2] Alexander Mooney R WV X. 2 2017-06-26 False S001196 Rep. Stefanik, Elise M. [R-NY-21] Elise Stefanik R NY M. 21 2017-06-29 False T000470 Rep. Tipton, Scott R. [R-CO-3] Scott Tipton R CO R. 3 2017-06-29 False C001096 Rep. Cramer, Kevin [R-ND-At Large] Kevin Cramer R ND 0 2017-07-14 False B001284 Rep. Brooks, Susan W. [R-IN-5] Susan Brooks R IN W. 5 2017-07-24 False H001071 Rep. Hice, Jody B. [R-GA-10] Jody Hice R GA B. 10 2017-09-25 False Taxation Administrative law and regulatory procedures Business investment and capital Capital gains tax Economic development Federal Communications Commission (FCC) Financial services and investments Income tax deductions Income tax exclusion Income tax rates Internet and video services Internet, web applications, social media Securities State and local government operations Taxation 00 2017-06-12 Introduced in House 2017-09-13T18:49:56Z Gigabit Opportunity Act

This bill amends the Internal Revenue Code to authorize the designation of qualified gigabit opportunity zones in low-income communities and to provide tax incentives for investments in the zones.

Governors may submit nominations for a limited number of qualified gigabit opportunity zones in low-income communities to the Department of the Treasury for certification and designation. Governors must give particular consideration to areas that:

  • are facing obstacles to economic development due to a lack of geographic broadband coverage or speed;
  • are the focus of mutually reinforcing state, local, or private economic development initiatives;
  • are poised for economic growth that requires access to high speed broadband for commercial purposes; and
  • represent the areas of a state where such service would result in the highest return on investment.

For eligible taxpayers that sell certain broadband services, the bill allows: (1) deferrals, reductions, or exemptions from taxes on capital gains invested in certain property used to provide broadband services in a zone (depending on how long the property is held), and (2) immediate expensing of the costs of the property.

The bill also allows tax-exempt private activity bonds to be used for certain broadband projects in the zones.

Within one year of enactment of this bill, the Federal Communications Commission must publish a Uniform Model Broadband Deployment Act containing laws for the state regulation of the deployment of broadband services. Qualified zones must adopt either the Act or laws comparable to the Act.

]]> Gigabit Opportunity Act Display Title Gigabit Opportunity Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide tax benefits for investments in gigabit opportunity zones. Introduced in House IH Short Titles as Introduced Gigabit Opportunity Act Introduced in House 2017-06-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2870ih/xml/BILLS-115hr2870ih.xml 2017-06-16 Referred to the Subcommittee on Communications and Technology. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.