SB 623
Establishing economic incentives for data centers to locate within WV
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Sign in to take action- Introduced
- 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 eligible data centers, particularly those utilizing coal-generated electricity. The bill also includes provisions for defining terms, outlining eligibility criteria, creating an application process, and ensuring compliance with the incentives. It seeks to bolster West Virginia's digital infrastructure and economy while supporting the state’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 location within West Virginia, capital investment, job creation, and coal-generated electricity usage.
- Requires compliance and recapture of benefits if data centers fail to meet criteria.
- Authorizes the Tax Commissioner to create rules for administering the incentives.
- Defines key terms related to data centers and electricity generation.
- Offers a tax credit to coal-fired electric utilities that supply power to data centers.
- Includes a short title: ‘West Virginia-Powered Data Center Incentive Act’
Who is affected
- Data center operators
- West Virginia residents
- Coal-fired electric utilities
- The West Virginia State Tax Division
- Local governments (through potential tax revenue)
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