                                 CODE OF VIRGINIA

(CONTINGENT EFFECTIVE DATE — SEE EDITOR&#8217;S NOTE) INTERNET ROOT
INFRASTRUCTURE PROVIDERS (§ 58.1-422.5)

A. As used in this section:
			&#8220;Authority&#8221; means the Virginia Economic Development Partnership
Authority.
			&#8220;Eligible planning district&#8221; means Planning District 8.
			&#8220;Internet root infrastructure provider&#8221; means an entity and its
affiliated entities that is designated to operate one or more of the 13 Internet
root servers of the Internet Assigned Names Authority (IANA) root and functions
as the authoritative directory for one or more Top-Level Domains. This term does
not include an Internet service provider, cable service provider, or similar
company.
			&#8220;Internet root server of the IANA root&#8221; means a Domain Name
System server for one of the 13 root identities (A. &#8211; M.) that answers
requests for the Domain Name System root zone of the Internet, redirecting
requests for each Top-Level Domain to its respective nameservers.
			&#8220;Memorandum of understanding&#8221; means a performance agreement or
related document entered into by an Internet root infrastructure provider and
the Authority on or after January 1, 2023, but before December 1, 2023, that
sets forth the requirements for commitments to the Commonwealth.

B. 1. For taxable years beginning on or after January 1, 2023, but before
January 1, 2030, an Internet root infrastructure provider shall be subject to
the provisions of subdivision B 3 of § 58.1-416 only if the Authority certifies
to the Department that the taxpayer has at least 550 full-time employees with an
average annual salary of $175,000 in an eligible planning district, has entered
into a memorandum of understanding with the Authority, and has met the terms of
such agreement.

   2. For taxable years beginning on or after January 1, 2030, if the Authority
   certifies to the Department that all requirements of the memorandum of
   understanding have been satisfied, no additional certifications shall be
   required, and the Internet root infrastructure provider shall continue to be
   subject to the provisions of subdivision B 3 of &#xA7; 58.1-416 in future
   taxable years.

C. The General Assembly finds that the presence of the Internet root
infrastructure provider industry is essential to the continued fiscal health of
the Commonwealth. If any provision of this section is for any reason held to be
invalid or unconstitutional by the decision of a court of competent
jurisdiction, that provision shall not be deemed severable.

HISTORY: 2023, cc. 405, 406.