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DOL Rewrites Disability Rules for 'Merit-Based Opportunity' Push
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S5418119th CongressWALLET
No Tax Breaks for Data Centers Act
Sponsored By: Senator Hawley, Josh [R-MO]
Introduced
Summary
Excludes data centers from Qualified Opportunity Zone tax breaks. This bill would amend the Internal Revenue Code so a "qualified opportunity zone business" cannot be a data center. It also updates wording to say "qualified opportunity zone trade or business" for consistency. The exclusion applies to stock, capital or profits interests and to property acquired after enactment. Pre-enactment arrangements are potentially unaffected by these amendments.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 0 benefits, 1 costs, 0 mixed.
Block Opportunity Zone Breaks for Data Centers
If enacted, this bill would exclude data centers from qualifying as Qualified Opportunity Zone businesses. It would change the tax code language to add "and is not a data center" to the QOZ business definition. The exclusion would apply to stock, capital or profits interests, and property acquired after the date of enactment, so post-enactment investments in data centers would no longer get Opportunity Zone tax benefits.
Sponsors & CoSponsors
Sponsor
Hawley, Josh [R-MO]
MO • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov