RELATING TO TAXATION OF ADVERTISING REVENUE BY MAJOR SOCIAL MEDIA PLATFORMS.
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What it does
Official summary
Establishes the Broadband and Digital Equity Special Fund to receive revenues earned by major social media platforms to fund initiatives expanding broadband access and local journalism initiatives. Directs the Department of Taxation to apply the state corporate income tax to advertising revenue earned by major social media platforms if the revenue is derived from content created within the State or from audiences located in the State. Appropriates funds.
More detail
Effective 7/1/3000. (HD1)
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More on this bill
Where it stands
Introduced
2Passed House
3Passed Senate
4To Governor
5Became Law
Looking ahead
No hearings or votes scheduled.
History
2026
Feb 12Reported from ECD (Stand. Com. Rep. No. 253-26) as amended in HD 1, recommending passage on Second Reading and referral to CPC.Latest
Vote recorded Passed Second Reading as amended in HD 1 and referred to the committee(s) on CPC. Result: pass.Lower
Feb 12Passed Second Reading as amended in HD 1 and referred to the committee(s) on CPC with Representative(s) Garcia voting aye with reservations; Representative(s) Pierick voting no (1) and none excused (0).Minor
Feb 11The committee on ECD recommend that the measure be PASSED, WITH AMENDMENTS. The votes were as follows: 7 Ayes: Representative(s) Ilagan, Hussey, Holt, Tam, Templo, Yamashita, Gedeon; Ayes with reservations: none; 0 Noes: none; and 0 Excused: none.Minor
Vote recorded The committee on ECD recommend that the measure be PASSED, WITH AMENDMENTS. Result: pass.Lower
Feb 6Bill scheduled to be heard by ECD on Wednesday, 02-11-26 8:30AM in House conference room 423 VIA VIDEOCONFERENCE.
2025
Dec 8Carried over to 2026 Regular Session.Minor
Jan 27Referred to ECD, CPC, FIN, referral sheet 4Minor
Jan 23Introduced and Pass First Reading.Introduced