This bill proposes to amend the Internal Revenue Code of 1986 by creating a new section, 139J, which would exclude certain qualified broadband grants from gross income . This exclusion applies to grants specifically made for the purposes of broadband deployment and digital equity initiatives, aiming to reduce the tax burden on entities receiving these funds. The legislation defines "qualified broadband grant" to include various federal programs, such as those under the Broadband Equity, Access, and Deployment (BEAD) Program, Digital Equity programs, and middle mile grants established by the Infrastructure Investment and Jobs Act, as well as specific grants under the Rural Electrification Act of 1936. Additionally, the exclusion extends to grants from state, territorial, Tribal, or local governments, if funded by amounts from sections 602, 603, or 604 of the Social Security Act and designated for broadband infrastructure. A crucial provision, the denial of double benefit , ensures no deduction or credit can be claimed for expenditures covered by an excluded grant, and the adjusted basis of property must be reduced. The Secretary of the Treasury is authorized to issue necessary regulations, and these amendments apply to amounts received in taxable years ending after March 11, 2021.