RI S2346

Creates sales and use tax exemptions for qualified data center equipment valid for 30 years from certification date, with investment thresholds of $200 million for facilities in designated enterprise zones or federal opportunity zones, or $400 million for non-enterprise zone locations

Requires data center owners/operators to spend a minimum of $30 million on direct and indirect labor for construction and installation, and invest at least $10 million in renewable energy resources or energy storage systems within the state by the sixth anniversary of certification

Establishes annual labor expenditure requirements of $5 million for years seven through thirty following certification, with penalties of 7-10% of the shortfall for failing to meet investment, payroll, or renewable energy requirements

Defines "qualified data center equipment" broadly to include servers, networking equipment, cooling systems, power infrastructure, security systems, and related components eligible for the tax exemption

Rhode Island Commerce Corporation administers the certification process with 60-day review periods for applications, and must promulgate rules and regulations within one year of the act's passage