West Virginia HB4822 redirects tax revenue from high impact data centers to fund the Public Insurance Financial Stability Fund, counties, and schools.

West Virginia HB4822 amends the Code of West Virginia to redirect tax revenue from high impact data centers. The bill allocates 35% of the tax increment to the Public Insurance Financial Stability Fund, 30% to the situs county, and 10% to the situs county school board. Additionally, 5% of the increment goes to the Electric Grid Stabilization and Security Fund, which supports grid stabilization and security for regulated utilities. The bill also ensures that the fund includes all utilities, not just coal and gas-powered ones.

West Virginia HB4822 redirects tax revenue from high impact data centers to fund the Public Insurance Financial Stability Fund, counties, and schools.

West Virginia HB4822 amends the Code of West Virginia to redirect tax revenue from high impact data centers. The bill allocates 35% of the tax increment to the Public Insurance Financial Stability Fund, 30% to the situs county, and 10% to the situs county school board. Additionally, 5% of the increment goes to the Electric Grid Stabilization and Security Fund, which supports grid stabilization and security for regulated utilities. The bill also ensures that the fund includes all utilities, not just coal and gas-powered ones.