SB 3062 Mississippi Senate · 2025 Regular Session

Broadband Technology Development Act; revise equipment definition, and increase speed requirement for AV tax exemption.

SB 3062 updates Mississippi's tax incentives for broadband infrastructure by raising minimum speed requirements and adding budget caps. It revises the definition of eligible equipment to require fixed broadband to meet current FCC speed benchmarks (instead of the previous 35 Mbps down/3 Mbps up standard) for property tax exemptions on equipment placed in service between 2025-2030. The bill also limits annual tax credits to $15 million total ($1.5 million per company) and prohibits credits if equipment costs were covered by federal BEAD program funds. These changes directly affect telecommunications companies deploying broadband in Mississippi's designated Tier areas (Tier One to Three), impacting their tax liability for qualifying equipment investments.

Bill status died 4 of 5 stages cleared

Introduction

Feb 2025

Committee Review

Mar 2025

Senate Passage

Feb 2025

House Passage

Mar 2025

Governor

Introduced Feb 27, 2025 Last action Mar 21, 2025

Maddy AI version diff · 1 comparison

What changed between versions

As Introduced → Current version · 7 edits

MODERATE

This bill updates Mississippi's broadband tax credit and property tax exemption laws to modernize equipment definitions, adjust credit limits, and extend eligibility periods for infrastructure investments. It clarifies that equipment funded by federal BEAD or CARES Act grants cannot receive state tax benefits, prevents double-dipping of public funds. The changes also expand tax exemptions for various industries including manufacturing, energy, and technology sectors while adding new criteria for eligibility.

Scope change

The bill significantly expands the scope of tax exemptions beyond just broadband equipment to include manufacturing, energy, transportation, and technology sectors, while tightening eligibility requirements for broadband-related tax credits.

ELIGIBILITY

Broadband tax credits are now limited to equipment not funded by federal BEAD or CARES Act programs, preventing duplication of state and federal funding.

FISCAL

Annual broadband tax credit cap remains at $15 million with $1.5 million per company limit, but allocation is now prorated if total requests exceed the cap.

TIMELINE

Ad valorem tax exemption for broadband equipment placed in service after June 30, 2025, and before July 1, 2030, now requires certification and sworn descriptions submitted by April 1 of the first assessment year.

Effective dates split: most sections effective January 1, 2025, while Section 3 (broadband tax credit provisions) effective July 1, 2025.

SCOPE

New tax exemptions added for manufacturing equipment, energy production, transportation services, data centers, and various industrial sectors in Tier One, Two, and Three areas.

DEFINITION

Broadband equipment definition updated to include 384 kilobits per second minimum speed requirement and specific mobile broadband capabilities (35 Mbps downlink, 3 Mbps uplink).

REQUIREMENT

Taxpayers must submit certified, sworn descriptions of equipment to county tax assessors by April 1 to claim ad valorem tax exemptions.

Floor votes · Senate Feb 26, 2025 · House Mar 18, 2025

How they voted

51–0

Passed

Total votes 51

Feb 26, 2025

D Democratic16

16 Yea

100% Yea

R Republican35

35 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Mar 18, 2025

Lower · Passed

Passed As Amended

lower

Mar 18, 2025

Lower · Passed

Amended

lower

Mar 17, 2025

Lower · Passed

Title Suff Do Pass As Amended

lower

Feb 28, 2025

Committee

Referred To Ways and Means

lower

Feb 27, 2025

Introduced

Transmitted To House

upper

Feb 26, 2025

Upper · Passed

Passed

upper

Feb 25, 2025

Upper · Passed

Title Suff Do Pass

upper

Feb 17, 2025

Committee

Referred To Finance

upper

1 primary · 0 co-sponsors