The Broadband Expansion and Efficiency Act aims to promote the development of broadband communications services in Arkansas by establishing a sales and use tax exemption for machinery and equipment utilized in their production. The bill defines "broadband communications services" to include telecommunications, video programming, and internet access services, as well as any combination of these. It specifies the types of machinery and equipment eligible for the exemption, which encompasses a wide range of items such as wires, cables, antennas, routers, and diagnostic equipment, while explicitly excluding personal consumer electronics and consumer-grade modems and routers.

Additionally, the bill amends the Arkansas Code to include a new section that outlines the exemption from gross receipts and compensating use taxes for the sale of the specified machinery and equipment. The effective date for this exemption is set for the first day of the calendar quarter following the act's approval. This legislative measure is designed to enhance broadband infrastructure and accessibility across the state, thereby supporting economic growth and technological advancement.