Budget agreement reached in Virginia

Virginia lawmakers have reached an agreement on the 2026–2028 biennial budget. State lawmakers released a budget agreement that imposes an electricity consumption tax on data centers and orders a study of existing tax exemptions. The agreement says data centers would pay an electricity consumption tax of a cent and a tenth per kilowatt hour used per month. The tax would be in addition to the taxes and fees data centers currently pay, and an impact study of the sales and use tax exemption data centers currently enjoy.