HB 1132 VA
Data center tax revenue; creates local residential renewable energy incentive program.
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Summary
Data center tax revenue; local residential renewable energy incentive program; tangible personal property tax reimbursement; penalty. Authorizes the governing body of any county, city, or town that collects real or personal property taxes for any real or personal property owned by a data center to create a local residential renewable energy incentive program, through which funds shall be used to reduce existing utility bills for residential customers, to reduce reliance upon fossil fuel power generation facilities, to reduce the need for construction and placement of new transmission lines, and to minimize future electricity costs for residential customers. The bill provides that 15 percent of new data center revenue, defined in the bill, shall be spent toward residential solar and battery storage investment and 15 percent of new data center revenue shall be spent toward providing pro rata reimbursements for residents' tangible personal property tax assessments for any qualifying vehicle. Finally, the bill provides that if any locality violates the requirements for such incentive program, the local treasurer shall immediately transfer any remaining funds directly to the State Treasurer. The State Treasurer shall direct such remaining funds to be used for authorized purposes and thereafter such locality's incentive fund shall be dissolved. The bill makes it a Class 1 misdemeanor for a local treasurer to violate such requirement.
Sponsor (1)
- David A. Reid Democratic · primary
Action history (6)
- Jan 14, 2026 Prefiled and ordered printed; Offered 01-14-2026 26104725D · lower
- Jan 14, 2026 Referred to Committee on Finance · lower
- Jan 22, 2026 Fiscal Impact statement From TAX (1/22/2026 6:00 pm) · lower
- Feb 5, 2026 Assigned HFIN sub: Subcommittee #1 · lower
- Feb 9, 2026 House subcommittee offered · lower
- Feb 11, 2026 Continued to next session in Finance (Voice Vote) · lower
Text versions (6)
The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.
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