Senate Amendment 2
H 4087 - Session 125 (2023-2024)
Income tax credits

Senator M. Johnson proposes the following amendment (SR-4087.KM0024S):

Amend the bill, as and if amended, SECTION 5, by striking Section 12-36-2120(79)(B)(5)(ii)(a) and (b) and inserting:

    (ii)(a) where a taxpayer invests at least fifty seventy five million dollars in real or personal property, or both, in a Tier 2, 3, or 4 county and has a fully executed fee in lieu of taxes agreement on or before June 30, 2025 over a five year period; or
     (b) where one or more taxpayers invests a minimum aggregate capital investment of at least seventy-fivethree hundred million dollars in real or personal property, or both, in a Tier 1 county and has a fully executed fee in lieu of taxes agreement on or before June 30, 2024 over a five year period;

Amend the bill further, SECTION 5, by striking Section 12-36-2120(79)(C)(1) and inserting:

  (C)(1) To qualify for the exemption allowed by this item, a taxpayer, and the facility datacenterin the case of a seventy-five million dollar investment made by more than one taxpayer, shall notify the Department of Revenue and Department of Commerce, in writing, of its a datacenter taxpayer's intention to claim the exemption. For purposes of meeting the requirements of subitems (B)(5)(i), (ii), and (B)(5)(iii), capital investment and job creation begin accruing once the taxpayer datacenter notifies each department. Also, the five-year period begins upon notification.

Amend the bill further, SECTION 5, by striking Section 12-36-2120(79)(G) and inserting:

  (G) This subitem only applies to a datacenter that is certified by the Department of Commerce pursuant to subitem (D)(1) prior to January 1, 2032. However, this item shall continue to apply to a taxpayer datacenter that is located in a Tier 1 county and has a fully executed fee in lieu of taxes agreement on or before June 30, 2024 or that is located in a Tier 2, 3, or 4 county and has a fully executed fee in lieu of taxes agreement on or before June 30, 2025is certified by December 31, 2031, for an additional ten year period. Upon the end of the ten year period, this subitem is repealed;