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MN HF2533
Bill
Status
Introduced
2/27/2012
Primary Sponsor
Sheldon Johnson
Click for details
AI Summary
- Allows a tax credit equal to 3 percent of investment made in qualified broadband equipment installed in underserved areas
- Qualified broadband equipment must provide minimum download speeds of 10 megabits per second and upload speeds of 5 megabits per second, installed by telecommunications carriers or cable operators
- Underserved areas are defined as locations where no broadband provider advertises speeds of 3 megabits per second download and 768 kilobits per second upload
- Credit cannot exceed $750,000 per taxable year and requires commissioner of commerce approval before equipment qualifies
- Unused credits may be carried forward to subsequent taxable years; applies to equipment installed after final enactment for tax years beginning after December 31, 2011
Legislative Description
Broadband equipment allowed a credit for installation.
Last Action
Introduction and first reading, referred to Commerce and Regulatory Reform
2/27/2012
Committee Referrals
Commerce and Regulatory Reform2/27/2012
Full Bill Text
No bill text available