HB 1668 Summary

• Adds data centers (as defined in Section 57-113-21) to the list of new enterprises eligible for ad valorem tax exemptions granted by county boards of supervisors and municipal authorities.

• Clarifies that tax exemptions may apply to any tangible property, real or personal, including leasehold interests, used in connection with enumerated enterprises, regardless of whether the property is owned, leased, or licensed by the enterprise.

• Provides that when a leasehold interest receives a tax exemption, the corresponding ownership interests of the owner, lessor, and sublessor are automatically exempt without requiring separate action.

• Allows county boards and municipal authorities to grant fee-in-lieu agreements for expansions or equipment replacements of existing enterprises using the same qualifying thresholds and procedures as new projects under Section 27-31-104.

• Ratifies and confirms all tax exemptions and fee-in-lieu agreements granted before the act's effective date that are consistent with these revised provisions.