Mississippi Legislature
2003 Regular Session

Senate Bill 2979

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Bill Text

History of Actions

Amendments

Background

Title

Description: Taxation; provide various tax credits and exemptions for companies that provide broadband technologies.

Bill Text: [Introduced] [Passed Senate] [Sent to Governor]

History of Actions:

1 02/19 (S) Referred To Finance
2 02/20 (S) Title Suff Do Pass
3 02/25 (S) Amended
4 02/25 (S) Passed As Amended
5 02/27 (S) Transmitted To House
6 02/27 (H) Referred To Ways and Means
7 03/17 (H) Title Suff Do Pass As Amended
8 03/18 (H) Amended
9 03/18 (H) Passed As Amended
10 03/19 (H) Returned For Concurrence
11 03/21 (S) Decline to Concur/Invite Conf
12 03/21 (S) Conferees Named Minor,Robertson,Browning
13 03/25 (H) Conferees Named Morris,Formby,Coleman (65th)
14 03/29 (S) Conference Report Filed
15 03/29 (H) Conference Report Filed
16 03/30 (H) Conference Report Adopted
17 03/30 (S) Conference Report Adopted
18 04/02 (S) Enrolled Bill Signed
19 04/02 (H) Enrolled Bill Signed
20 04/19 Approved by Governor

Amendments/Conference Report:

Adopted [S] Amendment No 1
Adopted [H] Amendment No 1

Conference Report

Background Information:

Effective dateJuly 1, 2003
DispositionLaw
DeadlineRevenue
RevenueYes
Vote type requiredThree/Fifths
Chapter number520

Senate Committee:

House Committee:

Principal Author: Minor

Additional Authors: Browning, Canon, Chamberlin, Chaney, Dawkins, Dickerson, Frazier, Furniss, Gordon, Hamilton, Harden, Hewes, Jordan, King, Kirby, Lee, Little, Mettetal, Nunnelee, Robertson, Ross, Scoper, Stogner, Thames, Tollison, Walden, Williamson, Posey

Code Section: A 027-0065-0101

Title: AN ACT TO CREATE THE MISSISSIPPI BROADBAND TECHNOLOGY DEVELOPMENT ACT; TO PROVIDE FOR A CREDIT AGAINST THE INCOME AND FRANCHISE TAX LIABILITY OF TELECOMMUNICATIONS ENTERPRISES FOR INVESTMENTS MADE AFTER JUNE 30, 2003, AND BEFORE JULY 1, 2013, IN AN AMOUNT EQUAL TO 5% OF THE COST OF EQUIPMENT USED IN THE DEPLOYMENT OF BROADBAND TECHNOLOGIES IN TIER ONE AREAS, AN AMOUNT EQUAL TO 10% OF THE COST OF EQUIPMENT USED IN THE DEPLOYMENT OF BROADBAND TECHNOLOGIES IN TIER TWO AREAS AND AN AMOUNT EQUAL TO THE 15% OF THE COST OF EQUIPMENT USED IN THE DEPLOYMENT OF BROADBAND TECHNOLOGIES IN TIER THREE AREAS; TO PROVIDE THAT SUCH CREDIT SHALL BE ALLOWED COMMENCING WITH THE YEAR IN WHICH THE PROPERTY IS PLACED IN SERVICE AND CONTINUE FOR NINE CONSECUTIVE YEARS THEREAFTER; TO PROVIDE THAT THE AGGREGATE AMOUNT OF THE CREDIT TAKEN IN ANY ONE TAX YEAR SHALL BE LIMITED TO AN AMOUNT NOT GREATER THAN 50% OF THE TAXPAYER'S INCOME AND FRANCHISE TAX LIABILITY; TO ALLOW CREDITS NOT USED IN ANY TAXABLE YEAR TO BE CARRIED FORWARD FOR TEN YEARS FROM THE CLOSE OF THE TAX YEAR IN WHICH THE CREDITS WERE EARNED; TO PROVIDE THAT EQUIPMENT USED IN THE DEPLOYMENT OF BROADBAND TECHNOLOGIES BY A TELECOMMUNICATIONS ENTERPRISE THAT IS PLACED IN SERVICE AFTER JUNE 30, 2003, AND BEFORE JULY 1, 2013, SHALL BE EXEMPT FROM AD VALOREM TAXATION FOR A PERIOD OF TEN YEARS AFTER THE DATE SUCH EQUIPMENT IS PLACED IN SERVICE; TO AMEND SECTION 27-65-101, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT SALES OF EQUIPMENT TO TELECOMMUNICATIONS ENTERPRISES AFTER JUNE 30, 2003, AND BEFORE JULY 1, 2013, THAT IS INSTALLED IN TIER ONE AREAS AND USED IN THE DEPLOYMENT OF BROADBAND TECHNOLOGIES SHALL BE EXEMPT FROM 1/2 OF THE SALES TAXES IMPOSED ON SUCH TRANSACTIONS; TO PROVIDE THAT SALES OF EQUIPMENT TO TELECOMMUNICATIONS ENTERPRISES AFTER JUNE 30, 2003, AND BEFORE JULY 1, 2013, THAT IS INSTALLED IN TIER TWO AND TIER THREE AREAS AND USED IN THE DEPLOYMENT OF BROADBAND TECHNOLOGIES SHALL BE EXEMPT FROM THE SALES TAXES IMPOSED ON SUCH TRANSACTIONS; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 04/19/03 at 10:12.

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