Makes sales and use tax exemptions for nuclear electric generation facilities, web search portal businesses, and data center businesses contingent on.

This bill makes sales and use tax exemptions for nuclear electric generation facilities, web search portal businesses, and data center businesses contingent on contributions to institutions of higher education governed by the state board of regents. Specifically, these businesses must enter into agreements with the economic development authority to contribute at least 5% of the aggregate value of the exemption to nuclear engineering programs. The bill requires annual reporting and registration with the department of revenue, and non-compliance can result in the cancellation of the exemption.

Makes sales and use tax exemptions for nuclear electric generation facilities, web search portal businesses, and data center businesses contingent on.

This bill makes sales and use tax exemptions for nuclear electric generation facilities, web search portal businesses, and data center businesses contingent on contributions to institutions of higher education governed by the state board of regents. Specifically, these businesses must enter into agreements with the economic development authority to contribute at least 5% of the aggregate value of the exemption to nuclear engineering programs. The bill requires annual reporting and registration with the department of revenue, and non-compliance can result in the cancellation of the exemption.