The proposed bill seeks to establish a Certified Microgrid Development Program under the Division of Economic Development in West Virginia, which includes renaming the existing Industrial Business Expansion Program to the Microgrid Development Program. Key amendments involve removing previous location requirements for high-impact business development districts and the stipulation that electrical service must come from renewable sources. The bill introduces provisions for certifying high-impact data centers, prohibits certain tax incentives under specific conditions, and establishes a specialized property tax formula for these centers. It also outlines eligibility criteria for businesses in microgrid districts and specifies that electric service providers in these areas will not face certain regulatory requirements.

Additionally, the bill creates the High Impact Data Center Program, recognizing West Virginia's strategic advantages for data center development. It mandates that data centers notify the Division upon meeting high-impact criteria and ensures confidentiality for business information. Local governments are prohibited from enacting regulations that could impede the establishment of microgrid districts and data centers. The legislation also establishes the Electronic Grid Stabilization and Security Fund and emphasizes the importance of data centers for national security and economic growth. Furthermore, it introduces a Personal Income Tax Reduction Fund funded by high-impact data centers and outlines new requirements for electric utilities to enhance reliability and efficiency, including sourcing capacity from in-state coal or gas and maintaining a minimum coal supply for grid resiliency.

Statutes affected:
Introduced Version: 5B-2-21, 24-2-1d, 24-2-1q, 24-2-15, 24-2-19, 5B-2-21a, 5B-2-21b, 5B-2N-2a, 11B-2-33, 11-6N-1, 11-6N-2, 11-6N-3, 11-6N-4, 11-6N-5