Bill > SB540

This bill revises the property tax classification and assessment of certain types of infrastructure, particularly focusing on qualified data centers and dedicated communications infrastructure. The key provisions include expanding the definition of "qualified data center" to include more types of property, changing how such properties are assessed and taxed, and modifying the tax rates and assessment methods for dedicated communications infrastructure. Specifically, the bill extends the timeframe for construction of qualifying infrastructure from 2027 to 2037, introduces local assessment for certain dedicated communications infrastructure properties located within a single county, and establishes a new tax rate structure. The bill also provides more detailed definitions for terms like "dedicated communications infrastructure" and "local dedicated communications infrastructure," and creates provisions for how these properties will be taxed over time. For properties meeting certain value thresholds (over $500 million), the bill mandates local assessment and provides a specific tax rate. Additionally, the bill includes provisions for reporting installed costs and creates nuanced rules for how different types of infrastructure will be classified and taxed, with special considerations for onsite power generation and infrastructure associated with qualified data centers.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/2/LC0982