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AR HB1654
Bill
Status
4/13/2023
Primary Sponsor
Aaron Pilkington
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AI Summary
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Exempts sales and use taxes on data center equipment, eligible data center costs, certain services for data center development and operation, and electricity used by qualified data centers.
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Requires qualified firms to make a minimum $500,000,000 investment within 5 years of certificate of occupancy and pay at least $1,000,000 in aggregate annualized compensation to state employees over 2 calendar years following commencement of operations.
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Requires qualified data centers to receive a positive cost-benefit analysis from the Arkansas Economic Development Commission and obtain an approved financial incentive certificate before claiming exemptions.
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Establishes 30-day application approval process with 15-day cure period for incomplete applications; requires qualified firms to certify annually to the commission regarding minimum investment and employee compensation.
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Effective on the first day of the calendar quarter following the act's effective date.
Legislative Description
To Provide Sales And Use Tax Exemptions For Data Centers; And To Provide A Sales And Use Tax Exemption For Data Center Equipment, Data Center Costs, Certain Services Provided To A Data Center, And Electricity Used By A Data Center.
Last Action
Notification that HB1654 is now Act 819
4/13/2023