Revenue and taxation; deduction; broadband equipment; federal funds; effective date.

HB 2881 creates a tax deduction for Oklahoma businesses receiving specific federal broadband funding. It allows businesses to deduct funds distributed by the Oklahoma Broadband Office under federal programs like the American Rescue Plan Act (ARPA) and the Infrastructure Investment and Jobs Act's BEAD Program, provided the money is spent on broadband equipment or services. This deduction applies to taxable income for years starting January 1, 2025, and is distributed to pass-through business owners. The bill directly affects Oklahoma broadband providers and service entities using federal recovery funds for infrastructure.