Treasurer Pack encourages WV lawmakers to revisit data center laws
West Virginia State Treasurer Larry Pack is urging lawmakers to revisit the state's data center tax policies to ensure more revenue benefits local communities directly. He highlights that current laws, passed in 2009 and 2015, siphon significant tax breaks and revenue away from counties like Berkeley, sending it instead to the state's general fund in Charleston. Pack plans to introduce a bill in January to amend these outdated tax codes.
West Virginia State Treasurer Larry Pack is encouraging state lawmakers to reconsider existing data center policies, advocating for greater local control over tax revenue generated from these facilities. This stance puts him at odds with some Republican leadership.
Historically, West Virginia has not amended its tax code regarding data centers, allowing them to benefit from significant tax breaks passed in 2009. Furthermore, a 2015 data center law diverts much of the associated revenue from local communities to the state's income tax reduction fund, rather than allowing it to remain in the counties where the data centers are located.
Treasurer Pack cites Berkeley County as an example, noting that a potential $70 million in revenue that could benefit county commissioners and schools is instead directed to the state's general fund in Charleston. He argues that this money should stay in the county to fund local improvements such as road extensions and fire departments.
Pack has announced plans to introduce a bill in January aimed at updating these outdated tax breaks and policies, seeking to ensure that a larger share of the revenue from West Virginia's multi-billion-dollar data center projects remains within local communities.