Legislation aimed at increasing access to broadband internet service in rural areas passed the Senate Fiscal Responsibility and Economic Development Committee this week.
SB 149 by Sen. Clay Scofield, R-Red Hill, would provide a 10 percent income tax credit to companies or cooperatives investing in broadband expansion and allow the exemption of new qualifying facilities from the state portion of property tax. Total income tax credits issued in any one year could not exceed $20 million. Limits would also apply to the amount of credit any one taxpayer could receive, based on their tax liability and the speed of internet services provided.
The Federation supports expanding rural broadband access.