Spanberger's new data center energy consumption tax nets $25 million in first round of collection
Virginia has collected $25 million from a new tax on data center energy consumption during its first two months. Officials expect collections to rise to at least $90 million as utilities complete implementation, with annual revenue potentially reaching the $600 million projected by the governor and legislature.
Virginia Gov. Abigail Spanberger announced that the state has collected $25 million from a new data center energy consumption tax. The revenue covers two months of collections, and officials said the total could increase to $90 million or more as utilities with older payment systems finish processing the tax.
The tax was approved during a special legislative session that resolved a prolonged budget impasse. Officials remain optimistic that annual collections will approach the $600 million projected by the governor and expected by the legislature. The money has already been allocated to education and health care, while additional details on Virginia's finances are expected at a Senate Finance Committee meeting.