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 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.

Statutes affected:
As Introduced: 57-87-5, 57-87-7, 27-65-101
Committee Substitute: 57-87-5, 57-87-7, 27-65-101
As Passed by the House: 57-87-5, 57-87-7, 27-65-101