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2021 SESSION
HB 2273 Data centers; sales and use tax exemption, criteria, report.
Introduced by: James W. Morefield | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Sales and use tax exemption for data centers. Reduces to four new jobs, for purposes of qualifying for the sales and use tax exemption for data centers, the job creation requirement for a data center in a distressed locality. Under current law, such data centers must create at least 25 new jobs. The bill lowers the amount of investment needed to qualify for the exemption from $150 million to $1.9 million for data centers that qualify for the reduced jobs requirement. The bill also redefines what criteria are used to identify a distressed locality such that a locality qualifies as distressed if it has an unemployment rate that is greater than the statewide unemployment rate and it also has a poverty rate that exceeds the statewide poverty rate. The bill requires all data centers claiming the exemption to submit an annual report detailing certain information to the Virginia Economic Development Partnership Authority (the Authority). Finally, the requires the Department of Taxation (the Department), in collaboration with the Authority to publish a biennial report on the exemption. Such report by the Department shall not include any unaggregated or other information that could be used to identify a business or individual.
FULL TEXT
- 01/14/21 House: Presented and ordered printed 21102531D pdf | impact statement
- 02/01/21 House: Committee substitute printed 21104034D-H1 pdf
AMENDMENTS
- House subcommittee amendments and substitutes offered
- House subcommittee amendments and substitutes adopted
- House committee, floor amendments and substitutes offered
HISTORY
- 01/14/21 House: Presented and ordered printed 21102531D
- 01/14/21 House: Referred to Committee on Finance
- 01/16/21 House: Assigned Finance sub: Subcommittee #1
- 01/28/21 House: Subcommittee recommends reporting with substitute (10-Y 0-N)
- 02/01/21 House: Reported from Finance with substitute (21-Y 1-N)
- 02/01/21 House: Committee substitute printed 21104034D-H1
- 02/02/21 House: Read first time
- 02/03/21 House: Read second time
- 02/03/21 House: Committee substitute agreed to 21104034D-H1
- 02/03/21 House: Engrossed by House - committee substitute HB2273H1
- 02/04/21 House: Read third time and passed House (91-Y 9-N)
- 02/04/21 House: VOTE: Passage (91-Y 9-N)
- 02/05/21 Senate: Constitutional reading dispensed
- 02/05/21 Senate: Referred to Committee on Finance and Appropriations
- 02/05/21 Senate: Continued to 2021 Sp. Sess. 1 in Finance and Appropriations (16-Y 0-N)