Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
2 1st Session of the 60th Legislature (2025)
3 HOUSE BILL 2881 By: Chapman
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6 AS INTRODUCED
7 An Act relating to revenue and taxation; authorizing
deduction from Oklahoma taxable income for certain
8 amounts distributed by the Oklahoma Broadband Office
pursuant to the provisions of the American Rescue
9 Plan Act of 2021, P.L. 117-2, and the Broadband
Equity, Access, and Deployment (BEAD) Program as
10 authorized through the Infrastructure Investment and
Jobs Act (IIJA), P.L. 117-58; providing for
11 allocability of deduction; providing conditions with
respect to expenditure of funds; providing for
12 codification; and providing an effective date.
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15 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
16 SECTION 1. NEW LAW A new section of law to be codified
17 in the Oklahoma Statutes as Section 2358.121 of Title 68, unless
18 there is created a duplication in numbering, reads as follows:
19 A. For taxable years beginning on or after January 1, 2025,
20 there shall be allowed as a deduction from Oklahoma taxable income
21 for any amount distributed to any lawfully recognized business
22 entity by the Office of Management and Enterprise Services as
23 approved by the Oklahoma Broadband Office pursuant to the provisions
24 of the American Rescue Plan Act of 2021, P.L. 117-2, including but
Req. No. 12231 Page 1
1 not limited to funds distributed under the State and Local Fiscal
2 Recovery Funds Program and the Capital Projects Fund Program
3 incident to and authorized pursuant to the American Rescue Plan Act
4 of 2021, P.L. 117-2, and any funds distributed from the Broadband
5 Equity, Access, and Deployment (BEAD) Program as authorized through
6 the Infrastructure Investment and Jobs Act (IIJA), P.L. 117-58.
7 B. The deduction authorized by this section shall be allocable
8 to the equity owners of any lawfully recognized business entity
9 having pass through income tax treatment pursuant to the provisions
10 of the Internal Revenue Code of 1986, as amended, and pursuant to
11 the provisions of Section 2358 of Title 68 of the Oklahoma Statutes
12 and other provisions of the Oklahoma Income Tax Code.
13 C. An entity receiving any funds as described by this section
14 shall be required to spend such funds on broadband equipment or for
15 such other purpose related to broadband services as required or
16 authorized pursuant to the American Rescue Plan Act of 2021, P.L.
17 117-2.
18 SECTION 2. This act shall become effective January 1, 2025.
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20 60-1-12231 MAH 01/16/25
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Req. No. 12231 Page 2Every fact on this page links to its source, starting with the official bill record.