MS HB696

Extends the sales tax exemption on equipment sold to telecommunications enterprises for broadband technology deployment from July 1, 2020 to July 1, 2023, with exemption applying to 50% of taxes in Tier One areas and 100% of taxes in Tier Two and Three areas.

Extends the income and franchise tax credit for telecommunications enterprises investing in broadband technology equipment from July 1, 2020 to July 1, 2023, allowing credits of 5% (Tier One), 10% (Tier Two), and 15% (Tier Three) of equipment costs.

Extends the ad valorem tax exemption for broadband technology equipment used by telecommunications enterprises from July 1, 2020 to July 1, 2023, maintaining a 10-year exemption period after equipment is placed in service.

Defines "equipment used in the deployment of broadband technologies" as equipment capable of transmitting information at speeds of at least 384 kilobits per second in at least one direction, including switches, routers, servers, fiber optics and related equipment.

Takes effect July 1, 2020.