area means an area eligible for funding under phase 1 or phase 2 of the Rural Digital Opportunity Fund established by the Federal Communications Commission in the Report and Order in the matter of Rural Digital Opportunity Fund and Connect America Fund that was adopted by the Commission on January 30, 2020 (FCC 20–5). (4) Broadband internet access service The term broadband internet access service has the meaning given such term in section 8.1(b) of title 47, Code of Federal Regulations (or any successor regulation). (c) Credit allowed for only 1 taxable year An election by the taxpayer to have this section apply may not be made for any taxable year if such an election is in effect for the taxpayer for any preceding taxable year. (d) Regulations and guidance The Secretary shall, in consultation with the Federal Communications Commission, prescribe such regulations, and provide such other guidance, as may be necessary to carry out the purposes of this section including a program for persons engaged in the trade or business of selling communications signal boosters, or any other equipment described in subsection (b)(1), to voluntarily report any such sale in an unserved area. (e) Termination This section shall not apply to any amounts paid or incurred in any taxable year beginning after December 31, 2027. . (b) Clerical amendment The table of sections for subpart C of part IV of subchapter A of chapter 1 of such Code is amended by inserting before the item relating to section 26 the following new item: Sec. 36C. Broadband Internet communications signal booster credit. . (c) Conforming amendment Section 1324(b) of title 31, United States Code, is amended by inserting 36C, after 36B, . (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2023.