SB 857
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 sales tax exemptions for qualifying data centers, particularly those utilizing coal-fired electricity. The bill also includes eligibility criteria, a streamlined application process, and provisions for compliance and recapture of benefits. It’s designed to boost economic growth, create jobs, and leverage West Virginia’s existing energy infrastructure.
Key provisions
- Provides special property tax treatment for qualifying data centers.
- Offers sales tax exemptions for data centers.
- Establishes eligibility criteria for data centers, including investment levels, job creation, and electricity source.
- Requires data centers to comply with specific rules and recapture benefits if they fail to meet requirements.
- Creates an application process for data centers seeking incentives.
- Defines key terms related to data centers and energy sources.
- Addresses the tax treatment of electricity generated by data centers using coal-fired power.
- Includes provisions for a streamlined process for claiming exemptions.
Who is affected
- Data center operators
- West Virginia residents and businesses
- The West Virginia State Tax Division
- Electric utilities
- Coal producers
Notable changes
- Creates a new article in the West Virginia Code specifically addressing data center incentives.
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