Oklahoma 2025 Regular Session

Oklahoma House Bill HB2447 Compare Versions

Only one version of the bill is available at this time.

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28	28	STATE OF OKLAHOMA
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30	30	1st Session of the 60th Legislature (2025)
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32	32	HOUSE BILL 2447 By: Fetgatter
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38	38	AS INTRODUCED
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40	40	An Act relating to revenue and taxation; providing
41	41	income tax credit for certain qualified broadband
42	42	telecommunications infrastructure ; specifying amount
43	43	of tax credit; prohibiting reduction of tax liability
44	44	to less than zero; authorizing carryover; providing
45	45	for codification; and providing an effective date.
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50	50	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
51	51	SECTION 1. NEW LAW A new section of law to be codified
52	52	in the Oklahoma Statutes as Section 2357.701 of Title 68, unless
53	53	there is created a duplication in numbering, reads as follows:
54	54	A. As used in this section:
55	55	1. "Broadband telecommunications service" means any
56	56	telecommunications service using broadband telecommunications
57	57	infrastructure for the purpose of offering high speed, switched,
58	58	broadband wireline or wireless terrestrial telecommunications
59	59	capability that enables users to originate and r eceive high-quality
60	60	voice, data, graphics, or video telecommunications through the
61	61	Internet, using any technology, and, concerning wireline broadband
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88	88	telecommunications service, having actual download speeds as defined
89	89	by the Rural Broadband Expansion Coun cil;
90	90	2. "Qualified broadband telecommunications infrastructure "
91	91	means information equipment and facilities, information systems, and
92	92	information technology used for the purpose of providing broadband
93	93	telecommunications service; and
94	94	3. "Rural Broadband Expansion Council" means the entity created
95	95	pursuant to the provisions of Sectio n 139.202 of Title 17 of the
96	96	Oklahoma Statutes.
97	97	B. For taxable years beginning after December 31, 202 5, there
98	98	shall be allowed as a credit against the tax imposed pursuant to
99	99	Section 2355 of Title 68 of the Oklahoma Statutes in the amount of
100	100	twenty-five percent (25%) of the cost for qualified broadband
101	101	telecommunications infrastructure.
102	102	C. The tax credit authorized by this section may not be used to
103	103	reduce the tax liability of t he taxpayer to less than zero.
104	104	D. To the extent not used, the credit authoriz ed by this
105	105	section may be carried over, in order, to each of the five (5)
106	106	subsequent tax years.
107	107	SECTION 2. This act shall become effective January 1, 202 6.
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109	109	60-1-11608 MAH 01/15/25