Title
AN ACT CONCERNING QUALIFIED DATA CENTERS - PERSONAL PROPERTY TAX EXEMPTION for the purpose of reducing and restructuring the personal property tax exemption on the personal property of a Qualified Data Center; defining certain terms; providing for certain amounts of personal property tax exemptions under certain conditions; requiring compliance with certain supplier diversity, County-based small business, and County resident employment conditions as a condition of a certain reduction in assessment; requiring a certain annual certification; providing that a certain reduction in assessment shall not apply under certain circumstances; providing for certain penalties; requiring a certain annual report; requiring a certain notice; and generally relating to personal property tax exemptions on qualified data centers.
Body
FOR USE BY COUNCIL ADMINISTRATION:
Confidential: Yes
Requested by: Thomas Dernoga
Assigned to:Josh Hamlin
Legislastion Type: (Bill/Resolution/Agenda Letter)
Need by Date: Soon. Draft bill attached.
Background Necessitating Legislation:
When the Council was briefed in 2020 about the proposal to reduce personal property taxes on qualified data centers it was unaware of the many negative consequences that could be associated with such development. The Council should revisit the discussion and consider reducing or eliminating the exempti
Sample language: Draft bill attached.
Special Instructions/Concerns/Time Critical Information:
Agencies or Individuals to Contact:
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Comments/Notes:
AN ACT concerning Qualified Data Centers - Personal Property Tax Exemption for the purpose of reducing and restructuring the personal property tax exemption on the personal property of a Qualified Data Center; defining certain terms; providing for certain amounts of personal property tax exemptions under certain conditions; requiring compliance with certain supplier diversity, County-based small business, and County resident employment conditions as a condition of a certain reduction in assessment; requiring a certain annual certification; providing that a certain reduction in assessment shall not apply under certain circumstances; providing for certain penalties; requiring a certain annual report; requiring a certain notice; and generally relating to personal property tax exemptions on qualified data centers.
DRAFTER PLEASE COMPLETE THE FOLLOWING:
Proposer(s): Council Member Dernoga
Background
This bill will amend the existing Code provisions governing the duration and amount of the reduction of the assessment of any qualified data center personal property used in a qualified data center that is subject to the County property tax. The bill also expressly provides that a reduction in assessment constitutes a County subsidy under Section 10-335 of the Code, and imposes specific requirements for supplier diversity, County-based small business utilization, and County resident employment on qualified data centers receiving a reduction under the law.
REMINDER: Attach the Legislative file document