Ohio SB374 prohibits new sales tax exemptions for data center equipment.

Ohio SB374 amends the Revised Code to prohibit new sales tax exemptions for data center equipment. The bill specifies that agreements for tax exemptions must include detailed descriptions of capital investment projects, employment, tax withholding, and capital investment information. It mandates annual reporting and verification by the director of development. The bill also outlines conditions for exemption, including maintaining operations at the project site and paying certain taxes. Noncompliance with the agreement can lead to termination of the exemption.

Ohio SB374 prohibits new sales tax exemptions for data center equipment.

Ohio SB374 amends the Revised Code to prohibit new sales tax exemptions for data center equipment. The bill specifies that agreements for tax exemptions must include detailed descriptions of capital investment projects, employment, tax withholding, and capital investment information. It mandates annual reporting and verification by the director of development. The bill also outlines conditions for exemption, including maintaining operations at the project site and paying certain taxes. Noncompliance with the agreement can lead to termination of the exemption.