Detailed Summary

Advanced Broadband Infrastructure Bond Initiative of 2009 - Amends the Internal Revenue Code to allow a tax credit for investment in qualified advanced broadband infrastructure bonds. Limits the issuance authority for such bonds in 2009, 2010 and 2011 to $1 billion for state and local government issuers and $10 billion for all other issuers. Requires the use of bond proceeds to finance broadband infrastructure projects to provide residential or small business consumers with high-speed access to the Internet.

Amends the National Telecommunications and Information Administration Organization Act to require the National Telecommunications and Information Administration in the Department of Commerce to: (1) approve requests for qualified advanced broadband infrastructure projects; (2) monitor the implementation of such projects; and (3) make determinations regarding increases in the transmission speed requirements of the advanced broadband infrastructure bond program.

Status of the Legislation

Latest Major Action: 1/28/2009: Referred to House committee. Status: 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.

Points in Favor

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Points Against

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