Data center enterprises; revise certain definitions and other provisions relating to tax exemptions.

Lowered minimum capital investment requirement from $500 million to $20 million for data center tax exemption eligibility

Reduced minimum job creation requirement from 50 to 20 full-time positions for tax exemption eligibility

Added exclusion preventing enterprises engaged in digital asset mining from qualifying for tax exemptions

Added explicit definition of 'digital asset' to include virtual currencies, cryptocurrencies, stablecoins, and NFTs

Added explicit definition of 'digital asset mining' to clarify it means using electricity to secure blockchain networks

Modified application requirements to include pro forma financial statements and data supporting project principals' expertise

Added requirement for annual documentation proving continued compliance with investment and job requirements

Added provision for recapture of tax exemptions if performance requirements are not met during the exemption period

Changed effective date to July 1, 2025, with repeal scheduled for June 30, 2025 (appears to be a legislative error in the current version)