Bill > SB857

This bill establishes economic incentives for data centers to locate within West Virginia, with a particular focus on supporting local coal-generated electricity. The bill creates the "West Virginia-Powered Data Center Incentive Act" to attract large-scale data center investments by offering several key financial benefits. To qualify, data centers must make a minimum $50 million capital investment, create at least 50 new jobs, and use at least 80% coal-generated electricity from within the state. The incentives include property tax treatment that allows data centers to be assessed at salvage value (typically 5% of total value), a sales tax exemption for equipment and personal property used in data center operations, and a business and occupation (B&O) tax exemption for electricity sold to qualifying data centers. The legislation emphasizes multiple economic development goals, including supporting the coal industry, creating high-quality technology jobs, improving digital infrastructure, and positioning West Virginia as a competitive destination for data center investments. The bill includes provisions for application, compliance monitoring, and potential tax recapture if a data center fails to meet its commitments. The incentives are designed to take effect for tax years beginning on or after January 1, 2025, giving businesses time to plan and prepare for potential investments.