SB 652
Relating to distribution of tax revenues collected from data centers
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- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill changes how ad valorem property tax revenues from high-impact data centers are distributed in West Virginia. It directs 80% of these revenues to the counties where the data centers are located. The bill also clarifies how the Personal Income Tax Reduction Fund is funded, allocating a portion of the tax increment to this fund and prohibiting traditional payment-in-lieu-of-taxes agreements and tax increment financing projects related to data center properties.
Key provisions
- 80% of ad valorem property tax revenue from high-impact data centers will be distributed to the county where the data center is located.
- The State Auditor will track and distribute tax revenue directly to the data center’s location county.
- Ad valorem tax revenue is calculated using a specific formula considering assessed value, levy rates, and incremental value.
- 50% of the tax increment will be deposited into the Personal Income Tax Reduction Fund.
- 30% of the tax increment will be distributed to the county where the data center is located.
- 10% of the tax increment will be distributed to all counties on a per capita basis.
- 5% of the tax increment will be allocated to the Economic Enhancement Grant Fund.
- 5% of the tax increment will be allocated to the Electric Grid Stabilization and Security Fund.
Who is affected
- Counties in West Virginia
- Data center operators
- Taxpayers within affected counties
- The West Virginia State Budget Office
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