The proposed "Data Center Transparency and Accountability Act" mandates that data centers undertaking new construction or expansion projects submit a comprehensive data center disclosure and impact statement to the local government prior to commencing work. This statement must include detailed information such as the project's owner, location, buildout phases, projected utility demands, job creation estimates, and any state or local incentives applied for. Local governments are required to publicly post these statements on their websites at least 60 days before any land use approval decisions are made, ensuring transparency and community awareness.

The bill also establishes significant civil penalties for non-compliance, including fines for submitting materially false statements or failing to correct errors in the disclosure. Specifically, violators could face fines of up to $10 million or 1% of the project's capital investment, along with additional daily fines for ongoing non-compliance. Furthermore, if a data center fails to meet job creation projections, it may incur further penalties and be prohibited from receiving state or local incentives for five years following a judgment. Additionally, the bill creates a Data Center Community Benefit Fund to support local infrastructure and public safety improvements in areas where these projects are located.