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GA HB1416
Bill
Status
Introduced
3/17/2010
Primary Sponsor
Randal Mangham
Click for details
AI Summary
- Creates a Georgia income tax credit for expenditures on qualified broadband equipment placed in service in underserved communities, available for taxable years beginning January 1, 2011, through December 31, 2016
- Credit equals up to 3% of expenditures on qualified broadband equipment or $750,000, whichever is less, per taxable year
- Defines "underserved community" as a census tract where fewer than 25% of households have access to broadband service, as designated by the state revenue commissioner
- Qualified broadband equipment must be depreciable property capable of transmitting signals at a minimum of 200,000 bits per second to a subscriber and 125,000 bits per second from a subscriber, with specific requirements varying by carrier type (telecommunications, cable, satellite, wireless, etc.)
- Unused tax credits may be carried forward to succeeding tax years, but the credit cannot exceed the taxpayer's income tax liability in any given year and cannot be applied to prior years
Legislative Description
Income tax credit; qualified broadband equipment; provide
Last Action
House Second Readers
3/18/2010
Committee Referrals
Ways and Means3/17/2010
Full Bill Text
No bill text available