SB 583
Establishing economic incentives for data centers to locate within state
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill aims to attract data centers to West Virginia by offering economic incentives. It establishes special property tax treatment and a sales tax exemption for qualifying data centers, particularly those utilizing coal-fired electricity. The bill also includes provisions for eligibility criteria, compliance, and recapture of incentives, alongside legislative findings emphasizing the economic and technological benefits of data centers and the importance of supporting West Virginia’s coal industry.
Key provisions
- Provides special property tax treatment for qualifying data centers.
- Creates a sales tax exemption for qualifying data centers.
- Establishes eligibility criteria for data centers, including investment levels, job creation, and electricity source.
- Requires compliance and recapture of incentives if conditions are not met.
- Defines key terms related to data centers and electricity generation.
- Authorizes the Tax Commissioner to promulgate rules for administering the incentives.
- Offers a tax credit to coal-fired electric utilities that supply power to data centers.
- Includes provisions for assessing property tax and addressing potential disputes.
Who is affected
- Data center operators
- West Virginia residents and businesses
- Coal-fired electric utilities
- The West Virginia State Tax Division
- Local governments (through potential tax revenue)
Notable changes
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