Bill Summary: HB 5076

• Establishes a property tax exemption for eligible data center property beginning December 31, 2015, which includes industrial personal property, commercial personal property, and fixtures directly used to operate or support data center or colocated businesses.

• Requires data center owners to annually file an affidavit claiming the exemption with the local tax collecting unit by December 31 each year, in a form prescribed by the state tax commission.

• Exempts data center owners who properly file the exemption affidavit from filing the standard personal property statement otherwise required under section 19.

• Authorizes local assessors to deny exemption claims by written notice if they believe the property does not qualify as eligible data center property, with appeals available to the board of review during that tax year.

• Requires eligible data center property owners to maintain books and records for 4 years showing description, acquisition date, and purchase price or value of all property, and provide access to those records upon request by tax authorities.