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2016 SESSION

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SB 64 Retail Sales and Use Tax; exemption for certain data centers.

Introduced by: Frank M. Ruff, Jr. | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Sales and use tax exemption; certain data centers. Extends the sunset date for the sales and use tax exemption for certain data centers from June 30, 2020, to June 30, 2035, and eliminates the sunset date of June 30, 2020, for provisions of the existing law that allow the owner of the data center to count the jobs created and investments made by tenants to count toward the overall jobs and investment criteria for the exemption. If an entity previously created 50 new jobs at a data center in the Commonwealth in order to qualify for the exemption, those 50 jobs may be relocated to a new data center in the Commonwealth with a capital investment of at least $500 million on or after July 1, 2016, and count toward the new jobs requirement for the new data center to qualify for the exemption. The bill also makes a technical correction regarding a subdivision that is erroneously set out twice in the Code. This bill is identical to HB 872.

SUMMARY AS INTRODUCED:

Sales and use tax exemption; certain data centers. Removes the sunset date (June 30, 2020) from a sales and use tax exemption for certain data centers. The bill also makes a technical correction regarding a subdivision that is erroneously set out twice in the Code.