SB24-085 Summary

• Creates a sales and use tax rebate for data center businesses and operators on construction materials and data center equipment, effective for fiscal years 2026-2033

• Eligible data centers must create at least 20 new full-time jobs, bring $100 million in new investment, and require minimum 3 megawatts of new electric load

• Colorado Economic Development Commission may approve up to 3 data centers per fiscal year for the rebate, with discretion to limit rebate amounts based on capital investment, local incentives, energy efficiency, and competitive analysis with other states

• Taxpayers must obtain certification from the Colorado Office of Economic Development and submit rebate applications to the Department of Revenue with proof of tax payments and equipment usage

• The statute includes a sunset provision repealing the program effective July 1, 2038