(1) For purposes of this chapter:(a) “Telecommunications enterprises” shall have the meaning ascribed to such term in Section 57-73-21(14);(b) “Tier One areas” mean counties designated as Tier One areas pursuant to Section 57-73-21(1);(c) “Tier Two areas” mean counties designated as Tier Two areas pursuant to Section 57-73-21(1);(d) “Tier Three areas” mean counties designated as Tier Three areas pursuant to Section 57-73-21(1); and(e) “Equipment used in the deployment of broadband technologies” means any equipment capable of being used for or in connection with the transmission of information at a rate, prior to taking into account the effects of any signal degradation, that is not less than thirty-five (35) megabits per second downlink and three (3) megabits per second uplink for mobile broadband or that is capable of providing fixed broadband service as defined by Section 77-19-3.
(a) “Telecommunications enterprises” shall have the meaning ascribed to such term in Section 57-73-21(14);
(b) “Tier One areas” mean counties designated as Tier One areas pursuant to Section 57-73-21(1);
(c) “Tier Two areas” mean counties designated as Tier Two areas pursuant to Section 57-73-21(1);
(d) “Tier Three areas” mean counties designated as Tier Three areas pursuant to Section 57-73-21(1); and
(e) “Equipment used in the deployment of broadband technologies” means any equipment capable of being used for or in connection with the transmission of information at a rate, prior to taking into account the effects of any signal degradation, that is not less than thirty-five (35) megabits per second downlink and three (3) megabits per second uplink for mobile broadband or that is capable of providing fixed broadband service as defined by Section 77-19-3.
(2) With respect to the investment in each year by a telecommunications enterprise after June 30, 2003, and before July 1, 2030, there shall be allowed annually as a credit against the aggregate tax imposed by Chapters 7 and 13 of Title 27, Mississippi Code of 1972, an amount equal to:(a) Five percent (5%) of the cost of equipment used in the deployment of broadband technologies in Tier One areas;(b) Ten percent (10%) of the cost of equipment used in the deployment of broadband technologies in Tier Two areas; and(c) Fifteen percent (15%) of the cost of equipment used in the deployment of broadband technologies in Tier Three areas.
(a) Five percent (5%) of the cost of equipment used in the deployment of broadband technologies in Tier One areas;
(b) Ten percent (10%) of the cost of equipment used in the deployment of broadband technologies in Tier Two areas; and
(c) Fifteen percent (15%) of the cost of equipment used in the deployment of broadband technologies in Tier Three areas.
(3) Such annual credits shall be allowed commencing with the taxable year in which such property is placed in service and continue for nine (9) consecutive years thereafter. The aggregate credit established by this section taken in any one (1) tax year shall be limited to an amount not greater than fifty percent (50%) of the taxpayer’s tax liabilities under Chapters 7 and 13 of Title 27, Mississippi Code of 1972; however, any tax credit claimed under this section, but not used in any taxable year, may be carried forward for ten (10) consecutive years from the close of the tax year in which the credits were earned.
(4) The maximum aggregate amount of credits that may be claimed under this section shall not exceed the original investment made by a telecommunications enterprise in the qualifying equipment used in the deployment of broadband technologies. For calendar year 2025, and for each calendar year thereafter, the aggregate amount of tax credits that may be claimed under this section during a calendar year shall not exceed Fifteen Million Dollars ($15,000,000.00), and for credits claimed during a calendar year, no more than One Million Five Hundred Thousand Dollars ($1,500,000.00) of such credits may be claimed by a single telecommunications enterprise, exclusive of credits that might be carried forward from previous taxable years. For calendar year 2025, and for each calendar year thereafter, a telecommunications enterprise may file the cost of equipment used in the deployment of broadband technologies with the Department of Revenue between March 1 and March 20 for the expenditures incurred in the preceding calendar year. If the total credits requested exceed the annual aggregate cap of Fifteen Million Dollars ($15,000,000.00), each telecommunications enterprise shall be allocated credits on a prorated basis. The Department of Revenue shall adopt rules to administer this section, including, but not limited to, rules prescribing forms, application procedures and dates to claim the credit under this section.
(5) For purposes of this section, the tier in which broadband technology is deployed shall be determined in the year in which such technology is deployed in a county and such tier shall not change if the county is later designated in another tier.
(6) There will be no credit allowed under this section if the equipment used in the deployment of broadband technologies was paid for, or its cost was reimbursed by, funds made available under the Coronavirus Aid, Relief, and Economic Security (CARES) Act or the Broadband Equity, Access, and Deployment (BEAD) Program.