An Income And Franchise Tax Exemption For Broadband Expansion Grants. (Fe)

AI Summary

The bill aims to provide an income and franchise tax exemption for grants related to expanding broadband infrastructure. This exemption is intended to incentivize and support the expansion of broadband services in underserved areas, ultimately improving access to high-speed internet across the United States. By offering tax relief for entities involved in broadband expansion projects, the bill seeks to encourage investment in critical infrastructure that can enhance connectivity and economic opportunities for communities lacking adequate access to reliable internet services.

• 2023-05-17: Introduced

• 2023-05-17: Read first time and referred to Committee on Ways and Means

• 2023-05-17: Read first time and referred to Joint Survey Committee on Tax Exemptions

• 2023-05-23: Fiscal estimate received

• 2023-07-14: Representative Jacobson added as a coauthor

• 2023-08-03: Assembly Amendment 1 offered by Representative Summerfield

• 2023-08-03: Assembly Amendment 2 offered by Representative Summerfield

• 2023-08-10: Fiscal estimate received

• 2023-08-17: Fiscal estimate received

• 2023-08-22: Representative Ratcliff added as a coauthor

• 2023-08-30: Public hearing held

• 2023-09-08: Assembly Substitute Amendment 1 offered by Representative Summerfield

• 2023-09-12: Executive action taken

• 2023-09-13: LRB correction

• 2023-09-28: Assembly Amendment 1 to Assembly Substitute Amendment 1 offered by Representatives Ohnstad, Conley, Baldeh and Riemer

• 2024-03-13: Report Assembly Substitute Amendment 1 adoption recommended by Committee on Ways and Means, Ayes 12, Noes 0

• 2024-03-13: Report passage as amended recommended by Committee on Ways and Means, Ayes 12, Noes 0

• 2024-03-13: Referred to committee on Rules

• 2024-04-15: Failed to pass pursuant to Senate Joint Resolution 1