Detailed Summary

Rural Broadband Access Enhancement Act - Amends the Rural Electrification Act of 1936 to redefine "eligible rural community."

Permits a loan or loan guarantee applicant in an area where 40% of the residents are without broadband access to qualify with a 10% loan equity position.

Provides for: (1) paperwork reduction; and (2) program outreach to underserved areas.

Prohibits loan or loan guarantees for new broadband service in communities with three or more service providers.

Provides that for each fiscal year: (1) not more than 10% of program funds shall be available to providers with more than 10% of national subscriber lines; and (2) 40% of program funds shall be available to providers with between 2%-10% of national subscriber lines.

Revises the amortization period from the life of the asset to 35 years.

Requires an annual broadband program report to Congress.

Status of the Legislation

Latest Major Action: 4/25/2008: House committee/subcommittee actions. Status: Executive Comment Requested from USDA.

Points in Favor

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Points Against

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