On February 13, Congress passed an economic stimulus package with $7.2 billion devoted to funding for broadband deployment. The bill creates a new Broadband Technology Opportunities Program administered by the National Telecommunications and Information Administration (NTIA). The program will be given $4.7 billion to fund the deployment of broadband infrastructure in unserved and underserved areas of the country. An additional $2.5 billion in broadband loans and grants will be administered by the Department of Agriculture’s Rural Utilities Service (RUS). Any entity is eligible to apply for a grant including municipalities, public/private partnerships and private companies as long as they comply with the grant conditions. The grants are subject to “openness” requirements to ensure that broadband networks be free of restrictions on content, sites, or platforms, on the kinds of equipment that may be attached, and on the modes of communication allowed.
The bill also charges the FCC is with developing a national broadband plan that shall seek to ensure that all people of the United States have access to broadband capability and shall establish benchmarks for meeting that goal.
These provisions are important victories for REALTORS because increased broadband access promotes economic growth and expands opportunities for home sales. A 2006 Commerce Department report determined that property values are 6% higher in communities where broadband is available.
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