HB563

Establishes a special classification for personal property used in major energy consumer equipment upgrades.

Virginia HB563 establishes a special classification for personal property used in major energy consumer equipment upgrades. This includes generating equipment purchased to upgrade backup or standby power systems of a major energy consumer from non-Tier emission standards equipment to Tier emission standards equipment. The bill defines "major energy consumer" as a commercial, industrial, or manufacturing entity with a minimum electrical requirement of one megawatt or more per month.