House Bill No. [insert number] revises the classification and taxation of properties designated as Class Seventeen, specifically focusing on data center properties. Key changes include an extension of the construction timeframe for data centers, updated ownership requirements allowing for wholly owned subsidiaries or parent companies, and a mandate for school equalization mills to be paid on Class Seventeen properties within districts utilizing tax increment financing. The bill also introduces a definition for qualified data centers and sets specific requirements for the sale of power produced by these centers, ensuring that the sale price does not exceed the cost of production.

Additionally, the bill amends existing laws regarding the tax treatment of electrical generation systems associated with data centers, implementing a reduced tax rate for a specified period before transitioning to a higher classification. It clarifies that Class Seventeen properties are subject to certain school levies and establishes criteria for determining when electrical generation systems are primarily used onsite. The act is set to take effect immediately upon passage and will apply retroactively to property tax years beginning after December 31, 2024.

Statutes affected:
LC Text: 15-6-156, 15-6-162
HB0424_1(1): 15-6-156, 15-6-162
HB0424_1(2): 15-6-156, 15-6-162
HB0424_1(3): 15-6-156, 15-6-162
HB0424_1(4): 15-6-156, 15-6-162
HB0424_1(5): 15-6-156, 15-6-162
HB0424_1: 15-6-156, 15-6-162
HB0424_2(1): 15-6-156, 15-6-162
HB0424_2(10): 15-6-156, 15-6-162
HB0424_2(11): 15-6-156, 15-6-162
HB0424_2(12): 15-6-156, 15-6-162
HB0424_2(13): 15-6-156, 15-6-162
HB0424_2(14): 15-6-156, 15-6-162
HB0424_2(15): 15-6-156, 15-6-162
HB0424_2(16): 15-6-156, 15-6-162
HB0424_2(2): 15-6-156, 15-6-162
HB0424_2(3): 15-6-156, 15-6-162
HB0424_2(4): 15-6-156, 15-6-162
HB0424_2(5): 15-6-156, 15-6-162
HB0424_2(6): 15-6-156, 15-6-162
HB0424_2(7): 15-6-156, 15-6-162
HB0424_2(8): 15-6-156, 15-6-162
HB0424_2(9): 15-6-156, 15-6-162
HB0424_2: 15-6-156, 15-6-162
HB0424_3(1): 15-6-156, 15-6-162
HB0424_3(10): 15-6-156, 15-6-162
HB0424_3(11): 15-6-156, 15-6-162
HB0424_3(12): 15-6-156, 15-6-162
HB0424_3(13): 15-6-156, 15-6-162
HB0424_3(14): 15-6-156, 15-6-162
HB0424_3(15): 15-6-156, 15-6-162
HB0424_3(16): 15-6-156, 15-6-162
HB0424_3(17): 15-6-156, 15-6-162
HB0424_3(18): 15-6-156, 15-6-162
HB0424_3(19): 15-6-156, 15-6-162
HB0424_3(2): 15-6-156, 15-6-162
HB0424_3(20): 15-6-156, 15-6-162
HB0424_3(21): 15-6-156, 15-6-162
HB0424_3(22): 15-6-156, 15-6-162
HB0424_3(23): 15-6-156, 15-6-162
HB0424_3(3): 15-6-156, 15-6-162
HB0424_3(4): 15-6-156, 15-6-162
HB0424_3(5): 15-6-156, 15-6-162
HB0424_3(6): 15-6-156, 15-6-162
HB0424_3(7): 15-6-156, 15-6-162
HB0424_3(8): 15-6-156, 15-6-162
HB0424_3(9): 15-6-156, 15-6-162
HB0424_3: 15-6-156, 15-6-162
HB0424_X(1): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(10): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(11): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(12): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(13): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(14): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(15): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(16): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(17): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(2): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(3): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(4): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(5): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(6): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(7): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(8): 7-15-4286, 15-6-156, 15-6-162
HB0424_X(9): 7-15-4286, 15-6-156, 15-6-162
HB0424_X: 7-15-4286, 15-6-156, 15-6-162