MO HB2041

Companies and subcontractors that install fiber optic internet cable, mount internet amplification equipment, or erect towers for wireless broadband transmission are eligible for linked deposit loans under existing sections 30.750 to 30.767.

Taxpayers may claim a tax credit equal to the purchase price of new internet broadband equipment (wireless transmitters, amplification equipment, management software, or related hardware) for taxable years beginning January 1, 2012 or later.

Tax credit amount cannot exceed the taxpayer's state tax liability for the year claimed and is not refundable, transferable, sold, or assignable.

The Department of Revenue may promulgate rules to implement the tax credit program, subject to Missouri's rulemaking procedures under Chapter 536.

The tax credit program automatically sunsets on December 31, six years after the effective date unless reauthorized by the General Assembly, and if reauthorized, sunsets twelve years after reauthorization.