Bill > H7695

This bill establishes property, tangible, sales, and use tax exemptions as incentives for qualified data centers to locate in Rhode Island, requiring a minimum investment of $200 million in a designated enterprise zone or $400 million elsewhere, with application and approval processes managed by the Rhode Island Commerce Corporation. The bill also defines terms like "qualified data center," "eligible qualified data center costs," and "qualified data center equipment," and amends existing laws to include these definitions and exemptions, notably adding a new section to Chapter 42-64 of the General Laws to outline the application and certification process for these tax benefits, which can last for up to 30 years, and also amends Chapter 44-18 to exempt qualified data center equipment from sales and use taxes, and Chapter 39-26.9 to include qualified data centers under labor standards for covered projects.