Limits tax abatements for data processing centers, requires collection of certain taxes on purchases, and extends sunset date.
The bill limits the maximum exemption period for tax abatements available for data processing centers to 10 years beginning January 1, 2027. It requires data processing centers to pay state sales and use taxes on purchases made by certain large data processing centers beginning January 1, 2027. The bill also extends the sunset date applicable to abatements for data processing centers. The provisions aim to balance economic development incentives with state revenue collection.
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