Governor Abigail Spanberger announced $25 million in collected taxes from data centers Friday, but more is expected.
The tax was authorized during a special session this summer that ended a months-long stalemate over state spending. And those close to the issue said the $25 million will increase to $90 million or more once the full amount is collected from some utilities with older payment systems. The number represents two months of collection so far, though officials said starting a new tax takes time and kinks were still being worked out.
The same officials said they were "optimistic" about meeting the $600 million a year promised by the governor and expected by the legislature.
As for the funds, they’ve already been allocated, and are expected to go to education and healthcare funding.
The specifics on the collection were released Friday as part of the governor's revenue update for the Commonwealth. That report said General Fund revenues grew by 11.5 percent over the previous year, with "strong" non-withholding, corporate income tax, and sales tax receipts driving that growth.
Additional details about the Commonwealth's fiscal health are expected at a Senate Finance meeting Tuesday.
