House Bill 1644

AN ACT TO AMEND SECTION 57-87-5, MISSISSIPPI CODE OF 1972, TO AMEND THE DEFINITION OF "EQUIPMENT USED IN THE DEPLOYMENT OF BROADBAND TECHNOLOGIES" FOR PURPOSES OF THE CREDIT AGAINST INCOME TAX AND CORPORATION FRANCHISE TAX LIABILITY OF TELECOMMUNICATIONS ENTERPRISES FOR CERTAIN INVESTMENTS MADE IN SUCH EQUIPMENT, AND FOR PURPOSES OF THE AD VALOREM TAX EXEMPTION FOR SUCH EQUIPMENT PLACED IN SERVICE IN A CERTAIN TIME PERIOD; TO LIMIT THE AGGREGATE AMOUNT OF INCOME TAX AND CORPORATION FRANCHISE TAX CREDITS THAT MAY BE CLAIMED DURING A CALENDAR YEAR; TO PROVIDE THAT, IF THE TOTAL CREDITS REQUESTED EXCEED THE ANNUAL AGGREGATE CAP, EACH TELECOMMUNICATIONS ENTERPRISE SHALL BE ALLOCATED CREDITS ON A PRORATED BASIS; TO PROVIDE THAT NO CREDIT SHALL BE ALLOWED IF THE EQUIPMENT WAS PAID FOR, OR ITS COST WAS REIMBURSED BY, FUNDS MADE AVAILABLE UNDER THE BROADBAND EQUITY, ACCESS, AND DEPLOYMENT (BEAD) PROGRAM; TO AMEND SECTION 57-87-7, MISSISSIPPI CODE OF 1972, TO SPECIFY THE EQUIPMENT PLACED IN SERVICE AFTER JUNE 30, 2025, AND BEFORE JULY 1, 2030, THAT IS ELIGIBLE FOR THE AD VALOREM TAX EXEMPTION; TO REQUIRE A TAXPAYER TO SUBMIT A CERTIFIED, SWORN DESCRIPTION OF THE EQUIPMENT TO THE TAX ASSESSOR OF THE COUNTY IN WHICH SUCH EQUIPMENT IS LOCATED, ON OR BEFORE APRIL 1 OF THE FIRST ASSESSMENT YEAR IN WHICH THE EXEMPTION IS BEING CLAIMED; TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF "EQUIPMENT USED IN THE DEPLOYMENT OF BROADBAND TECHNOLOGIES" FOR PURPOSES OF THE INDUSTRIAL SALES TAX EXEMPTION FOR SALES OF SUCH EQUIPMENT; AND FOR RELATED PURPOSES.

In the House of Representatives

• Brent Powell

  Sponsor

• Senate committee amendmentAdopted

  Adopted Mar 18

l9n doesn't hold this bill's text yet.

In the House of Representatives Jan 27 – Jan 28

1. Jan 27Referred to the House committee on Ways and Means
2. Reported from committee in the House: title sufficient, do pass as a committee substitute
3. Jan 28Committee substitute adopted in the House
4. Passed the House

In the Senate Jan 29 – Mar 18

1. Jan 29Sent to the Senate
2. Feb 17Referred to the Senate committee on Finance
3. Mar 13Reported from committee in the Senate: title sufficient, do pass as amended
4. Mar 18Amended in the Senate
5. Passed the Senate as amended

Back in the House of Representatives Mar 19 – Mar 24

1. Mar 19Returned to the House to concur in the Senate's amendments
2. Mar 20Concurred in the House in the Senate's amendments
3. Mar 24Enrolled bill signed in the House

To the Governor Mar 24 – Mar 28

1. Mar 24Enrolled bill signed in the Senate
2. Mar 28Approved by the Governor