Bill > HB2711

This bill modifies provisions related to the assessment of certain broadband communications equipment by redefining what constitutes "tangible personal property" for taxation purposes. Specifically, it includes machinery and equipment used to provide wired or wireless broadband communications service, such as wires, cables, fiber, antennas, poles, switches, routers, and other related central-office or hub equipment, as tangible personal property. Additionally, it establishes a new subclass for this broadband equipment, designating that new machinery and equipment placed in service on or after August 28, 2026, will be assessed at a reduced rate of twelve percent for tax years beginning on or after January 1, 2027, and ending on or before December 31, 2033, after which it will be assessed at the standard rate of thirty-three and one-third percent. This change aims to promote the expansion of broadband services within the state by adjusting how this essential infrastructure is taxed.