A bill to amend the Internal Revenue Code of 1986 to provide for the expensing of broadband Internet access expenditures, and for other purposes.

Amends the Internal Revenue Code to permit taxpayers to elect to expense (i.e., deduct all expenses in the current taxable year) qualified broadband expenditures, including installation and connection costs for subscribers in rural or underserved areas.

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

Directs the Secretary of the Treasury to: (1) designate census tracts identifying rural and underserved areas under this Act; and (2) prescribe regulations for carrying out the purposes of this Act. Prohibits federal or state agencies from adopting regulations and ratemaking procedures that would eliminate or reduce the broadband expense deduction provided by this Act.