Relating to: an income and franchise tax exemption for broadband expansion grants and for federal high-cost program funding for broadband expansion. (FE)

SB 176 creates tax exemptions for income received from broadband expansion grants and federal high-cost program funding. It exempts from state income and franchise taxes funds provided by the state, local governments, tribal governments, or the federal government for broadband expansion projects. This directly affects businesses, internet service providers, and organizations receiving these specific grants or federal funding. The exemption applies to both state broadband grants and federal high-cost program funds (under 47 USC 254) used for expanding broadband access in the state, effective for tax years beginning after December 31, 2024.