The bill amends section 122.175 of the Revised Code to prohibit the granting of new sales tax exemptions for data centers. It establishes that the tax credit authority may no longer enter into agreements that provide complete or partial exemptions from taxes on computer data center equipment for new capital investment projects. The bill outlines the definitions of terms related to data centers and specifies the conditions under which existing agreements may continue, including requirements for maintaining operations and reporting obligations.

Additionally, the bill includes provisions for the tax credit authority to review compliance with existing agreements and to amend them if necessary. It mandates that the director of development submit an annual report detailing the status of agreements and the eligible computer data centers. The existing section 122.175 is repealed, effectively removing the previous framework for granting tax exemptions to new data centers.

Statutes affected:
As Introduced: 122.175