Detailed Summary

Rural America Communication Expansion for the Future Act of 2008 - Amends the Internal Revenue Code to permit taxpayers in rural or underserved areas to elect to expense broadband expenditures, including installation and connection costs.

Permits mutual or cooperative telephone companies to reduce their unrelated business taxable income in any year by the amount of their broadband expenditures.

Directs the Secretary of the Treasury to designate census tracts identifying rural and underserved areas. Prohibits federal or state agencies from adopting regulations and ratemaking procedures that would eliminate or reduce the broadband expense deduction provided by this Act.

Allows a business-related tax credit for providing broadband services to rural or underserved subscribers through the radio transmission of energy.

Amends the National Telecommunications and Information Administration Organization Act to establish a grant to a local government with at least one rural or underserved area to establish publicly available broadband networks.

Extends funding for: (1) public safety communications interoperability; (2) 911 access; and (3) telehealth programs.

Revises provisions relating to rural area loans and loan guarantees regarding access to broadband telecommunications services, including revising the definition of "eligible rural community."

Requires designation of a National Center for Rural Telecommunications Assessment.

Establishes the Community Connect Grant Program to provide broadband service that fosters economic growth and delivers enhanced educational, health care, and public safety services.

Amends the Food, Agriculture, Conservation and Trade Act of 1990 to authorize grants to noncommercial education television broadcast stations that serve rural areas to enhance digital services.

Extends the termination date of the authority to guarantee bonds or notes for electrification or telephone purposes.

Status of the Legislation

Latest Major Action: 11/19/2008: Referred to House subcommittee. Status: Referred to the Subcommittee on Specialty Crops, Rural Development, and Foreign Agriculture.

Points in Favor

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Points Against

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