An act relating to revenue and taxation, the official text

1                            STATE OF OKLAHOMA

2   1st Session of the 60th Legislature (2025)

3 HOUSE BILL 2447                By: Fetgatter

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5

6                            AS INTRODUCED

7   An Act relating to revenue and taxation; providing

    income tax credit for certain qualified broadband

8   telecommunications infrastructure; specifying amount

    of tax credit; prohibiting reduction of tax liability

9   to less than zero; authorizing carryover; providing

    for codification; and providing an effective date.

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11

12 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

13  SECTION 1.      NEW LAW  A new section of law to be codified

14 in the Oklahoma Statutes as Section 2357.701 of Title 68, unless

15 there is created a duplication in numbering, reads as follows:

16  A. As used in this section:

17  1. "Broadband telecommunications service" means any

18 telecommunications service using broadband telecommunications

19 infrastructure for the purpose of offering high speed, switched,

20 broadband wireline or wireless terrestrial telecommunications

21 capability that enables users to originate and receive high-quality

22 voice, data, graphics, or video telecommunications through the

23 Internet, using any technology, and, concerning wireline broadband

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    Req. No. 11608                                                 Page 1
1 telecommunications service, having actual download speeds as defined

2 by the Rural Broadband Expansion Council;

3   2. "Qualified broadband telecommunications infrastructure"

4 means information equipment and facilities, information systems, and

5 information technology used for the purpose of providing broadband

6 telecommunications service; and

7   3. "Rural Broadband Expansion Council" means the entity created

8 pursuant to the provisions of Section 139.202 of Title 17 of the

9 Oklahoma Statutes.

10  B. For taxable years beginning after December 31, 2025, there

11 shall be allowed as a credit against the tax imposed pursuant to

12 Section 2355 of Title 68 of the Oklahoma Statutes in the amount of

13 twenty-five percent (25%) of the cost for qualified broadband

14 telecommunications infrastructure.

15  C. The tax credit authorized by this section may not be used to

16 reduce the tax liability of the taxpayer to less than zero.

17  D. To the extent not used, the credit authorized by this

18 section may be carried over, in order, to each of the five (5)

19 subsequent tax years.

20  SECTION 2. This act shall become effective January 1, 2026.

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22  60-1-11608        MAH  01/15/25

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    Req. No. 11608                                                 Page 2