AN ACT RELATING TO STATE AFFAIRS AND GOVERNMENT -- RHODE ISLAND COMMERCE CORPORATION

SB 2346 creates tax exemptions for property, tangible personal property, sales, and use taxes to incentivize the development of qualified data centers in Rhode Island. It directly affects data center developers and operators who meet the bill's criteria, including those making eligible costs for construction, equipment, and site development. The key provision allows qualifying data center projects to avoid these taxes on specific expenses like land, buildings, equipment, and labor costs related to construction. This policy aims to attract data center investments by reducing development costs for businesses meeting the defined standards. The bill modifies existing law governing the Rhode Island Commerce Corporation to implement these tax incentives.