The Broadband Expansion and Efficiency Act aims to promote the development of broadband communications services in Arkansas by creating a sales and use tax exemption for machinery and equipment used 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 includes 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 Wi-Fi routers.

Additionally, the bill amends Arkansas Code Title 26, Chapter 52, Subchapter 4, to introduce a new section that outlines the exemption from gross receipts and compensating use taxes for the sale of the specified machinery and equipment. The act will take effect on the first day of the calendar quarter following its enactment, thereby facilitating immediate support for broadband infrastructure development in the state.