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STATE OF OKLAHOMA
1st Session of the 60th Legislature (2025)
HOUSE BILL 2447 By: Fetgatter
AS INTRODUCED
An Act relating to revenue and taxation; providing
income tax credit for certain qualified broadband
telecommunications infrastructure ; specifying amount
of tax credit; prohibiting reduction of tax liability
to less than zero; authorizing carryover; providing
for codification; and providing an effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 2357.701 of Title 68, unless
there is created a duplication in numbering, reads as follows:
A. As used in this section:
1. "Broadband telecommunications service" means any
telecommunications service using broadband telecommunications
infrastructure for the purpose of offering high speed, switched,
broadband wireline or wireless terrestrial telecommunications
capability that enables users to originate and r eceive high-quality
voice, data, graphics, or video telecommunications through the
Internet, using any technology, and, concerning wireline broadband
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telecommunications service, having actual download speeds as defined
by the Rural Broadband Expansion Coun cil;
2. "Qualified broadband telecommunications infrastructure "
means information equipment and facilities, information systems, and
information technology used for the purpose of providing broadband
telecommunications service; and
3. "Rural Broadband Expansion Council" means the entity created
pursuant to the provisions of Sectio n 139.202 of Title 17 of the
Oklahoma Statutes.
B. For taxable years beginning after December 31, 202 5, there
shall be allowed as a credit against the tax imposed pursuant to
Section 2355 of Title 68 of the Oklahoma Statutes in the amount of
twenty-five percent (25%) of the cost for qualified broadband
telecommunications infrastructure.
C. The tax credit authorized by this section may not be used to
reduce the tax liability of t he taxpayer to less than zero.
D. To the extent not used, the credit authoriz ed by this
section may be carried over, in order, to each of the five (5)
subsequent tax years.
SECTION 2. This act shall become effective January 1, 202 6.
60-1-11608 MAH 01/15/25