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]
| 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 |
| Adopted | [S] | Amendment No 1 |
| Adopted | [H] | Amendment No 1 |
| Effective date | July 1, 2003 | |
| Disposition | Law | |
| Deadline | Revenue | |
| Revenue | Yes | |
| Vote type required | Three/Fifths | |
| Chapter number | 520 |
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.
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2003/html/History/SB/SB2979.htm