AL SB214

Creates a nonrefundable income tax credit equal to 10 percent of qualified investment in new broadband telecommunications network facilities in Alabama, effective for tax years beginning after December 31, 2016.

Defines broadband telecommunications network facilities as electronics, equipment, transmission facilities, fiber optic and copper cable, and other property capable of transmitting broadband signals at minimum speeds of 10 megabits per second download and 1 megabit per second upload.

Requires taxpayers to obtain an order or ruling from the Alabama Department of Commerce confirming that installed equipment qualifies as broadband telecommunications network facilities before claiming the credit.

Limits the annual credit to the lesser of the taxpayer's Alabama income tax liability or $750,000, with excess amounts carried forward up to 14 taxable years.

Amends Section 40-18-370 to add "Broadband Telecommunications Network Facility" to the definitions under the Alabama Jobs Act.