Data centers; taxes on banks that are tenants of a center.

Summary

The bill rewrites Virginia’s tax‑exemption rules for data‑center equipment, removing the sales‑tax exemption for any data center that houses a bank after July 1 2026. It also adds bank computers and peripherals used in data centers to the property that is taxed under the bank franchise tax. The change affects data‑center operators, their tenants, and all banks that locate equipment in a data center.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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