Bill > HB2447

This bill creates a new income tax credit for businesses investing in broadband telecommunications infrastructure in Oklahoma, effective for taxable years beginning after December 31, 2025. Specifically, the bill allows businesses to claim a tax credit equal to 25% of the cost of qualified broadband telecommunications infrastructure, which includes equipment, facilities, and technology used to provide high-speed internet services. The tax credit has important limitations: it cannot reduce a taxpayer's tax liability below zero, and any unused credit can be carried forward and applied to taxes in each of the five subsequent tax years. The bill defines key terms such as "broadband telecommunications service" as high-speed internet capabilities that enable users to transmit voice, data, graphics, or video through the Internet, and references the Rural Broadband Expansion Council for specific download speed definitions. By offering this tax incentive, the bill aims to encourage broadband infrastructure development, particularly in rural areas of Oklahoma, by providing a financial benefit to businesses that invest in expanding telecommunications capabilities.

http://www.oklegislature.gov/BillInfo.aspx?Bill=hb2447&Session=2600