S. 5418 — Introduced in Senate

II 119th CONGRESS 2d Session S. 5418 IN THE SENATE OF THE UNITED STATES September 16, 2026Mr. Hawley introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to exclude data centers from the definition of qualified opportunity zone businesses. 1. Short title This Act may be cited as the No Tax Breaks for Data Centers Act. 2. Data centers excluded from definition of opportunity zone business (a) In general Section 1400Z–2(d)(3)(A)(iii) of the Internal Revenue Code of 1986 is amended by inserting and is not a data center after section 144(c)(6)(B). (b) Conforming amendment Section 1400Z–2(d)(2)(D)(i) of such Code is amended by striking trade or business and inserting qualified opportunity zone trade or business. (c) Effective date The amendments made by this section shall apply to stock, capital or profits interests, and property acquired after the date of the enactment of this Act.