Title XII, Conservation and State Development

Transportation -- Utilities. (1) The Kentucky Association for Economic Development shall evaluate each applicant's eligible project according to the criteria described in this section and KRS 154.21-040 for the purposes of compiling a recommendation and score for the eligible pro…

(1) In the administration of the Kentucky Product Development Initiative, the Kentucky Association for Economic Development, via a third-party independent site selection consultant, shall develop a scoring system for the project and the project site proposed by each grant applica…

The following words and terms as used in KRS 154.22-010 to 154.22-080, unless the context clearly indicates a different meaning, shall have the following meanings: (1) "Activation date" means a date selected by an approved company in the tax incentive agreement at any time within…

(1) The General Assembly hereby finds and declares that the general welfare and material well-being of citizens of the Commonwealth, and particularly those residing in qualified counties, depends in large measure upon the development and growth of industry in the Commonwealth. (2…

Coal-producing counties qualified for electric generation -- Selection of eligible companies under Rural Economic Development Assistance Program -- Limitation of applicability to nonprofit corporations with handicapped and sheltered workers. (1) Each year, the authority shall, un…

- Time limits -- Extensions -- Tax credits and assessments as inducements for approved companies -- Assignment of tax incentive agreement -- Documentation of expenditures -- Suspension of inducements -- Authority's remedies in case of failure to comply -- Activation date. The aut…

(1) The approved company shall be entitled to a credit against the Kentucky tax liability mandated by KRS Chapter 141, as determined under KRS 141.347. The credit shall be equal to the total amount of the tax liability, and together with the aggregate assessments not to exceed th…

Kentucky income tax. (1) The approved company or, with the authority's consent, an affiliate of the approved company may require that each employee subject to state tax imposed by KRS 141.020, as a condition of employment, agree to pay an assessment, equal to four percent (4%) of…

If the authority adopts a preliminary resolution designating an eligible company as an approved company and preliminarily approving the project of the eligible company as an economic development project prior to July 15, 1994, and the authority adopts a final resolution approving…

KRS 154.22-010 to 154.22-080 shall be known as the Kentucky Rural Economic Development Act.

approved projects. New applications shall not be accepted or considered under this subchapter on or after June 26, 2009. All outstanding projects with preliminary or final approval under this subchapter as of June 26, 2009, shall continue to be governed by the provisions of this …

imposed prior to July 15, 1996. (1) If an approved company's financing agreement in effect prior to July 15, 1996, stipulates that the approved company elects to impose a six percent (6%) job development assessment fee pursuant to KRS 154.22-070 as in effect prior to July 15, 199…

into agreements by certain dates. If the authority adopts a preliminary resolution designating an eligible company as an approved company and preliminarily approving the project of the eligible company as an economic development project prior to July 15, 2002, and the authority a…

The following words and terms, unless the context clearly indicates a different meaning, shall have the following respective meanings in KRS 154.24-010 to 154.24-150: (1) "Affiliate" has the same meaning as in KRS 154.22-010; (2) "Agreement" means the service and technology agree…

(1) The General Assembly hereby finds and declares that the general welfare and material well-being of citizens of the Commonwealth depends in large measure upon the development and growth of the service and technology industries in the Commonwealth. (2) The General Assembly here…

The secretary of the Cabinet for Economic Development shall provide sufficient personnel to the authority to permit it to adequately discharge its duties and responsibilities described in KRS 154.24-010 to 154.24-150.

No director or officer of the authority shall be subject to any personal liability or accountability by reason of his execution of any service and technology agreement on behalf of the authority.

The authority may accept moneys which may be appropriated by the General Assembly, or moneys which may be received from any other source, including, but not limited to, income from the authority's operations; and expend funds consistent with its purposes, including, but not limit…

(1) No director, officer, or employee of the authority shall be interested, directly or indirectly, or shall be an officer or employee of, or have an ownership interest in, any firm or corporation interested, directly or indirectly, in any contract with the authority. (2) Should …

companies. The authority shall promulgate administrative regulations in accordance with KRS Chapter 13A, regarding the approval of eligible companies and economic development projects conducted by those companies. The criteria for approval of eligible companies and economic devel…

companies. (1) With respect to each eligible company making an application to the authority for inducements, and with respect to the economic development project described in the eligible company's application, the authority shall request materials and make all inquiries respecti…

(1) The approved company shall be entitled to a tax credit equal to one hundred percent (100%) of the income tax and one hundred percent (100%) of the limited liability entity tax imposed by KRS 141.0401 that would otherwise be due to the Commonwealth by the approved company attr…

development project -- Contents. Before any approved company is granted inducements as prescribed in KRS 154.24-010 to 154.24-150, a service and technology agreement with respect to the company's economic development project shall be entered into between the authority and the app…

of excess in assessments. (1) Before the end of the first year following the activation date, the authority shall, using data supplied by the approved company, verify and determine the total start- up costs for the approved company's economic development project. The initial appr…

(1) If an eligible company operates an existing service and technology business in Kentucky, and wishes to expand that business within the Commonwealth, the eligible company may submit an application to the authority to become an approved company and eligible for the inducements …

technology agreement -- Alternative inducements offered -- Assessment fees. (1) Before any agreement as prescribed in KRS 154.24-120 shall become effective, the legislative body of any local jurisdiction which may lose revenue as a result of the inducements offered pursuant to KR…

KRS 154.24-010 to 154.24-150 shall be known as the Kentucky Jobs Development Act.

approved projects. New applications shall not be accepted or considered under this subchapter on or after June 26, 2009. All outstanding projects with preliminary or final approval under this subchapter as of June 26, 2009, shall continue to be governed by the provisions of this …

As used in this subchapter: (1) "Activation date" means a date selected by an approved company and set forth in the jobs retention agreement at any time within a three (3) year period after the date of final approval of the agreement by the authority upon which the required inves…

Preliminary approval. (1) The criteria for approval of eligible companies and jobs retention projects shall include but not be limited to: (a) The need for the project, as indicated by the impact of the existing facility upon the local community and the economic and employment im…

permitted inducements. (1) The authority, upon adoption of its final approval, may enter into, with any approved company, an agreement with respect to the jobs retention project. The terms and provisions of each agreement, including the amount of approved costs, the amount of the…

Revenue to make annual report to authority. (1) The approved company may require that each employee subject to the income tax imposed by KRS 141.020, whose job was preserved or created as a result of the project, as a condition of employment or the retention of employment, agree …

activation date -- Inducements, when authorized. (1) If an approved company makes additional investments in the form of additional jobs retention projects during the term of the initial jobs retention project, the approved company may apply for, and the authority may approve, a s…

As used in this subchapter, unless the context clearly indicates otherwise: (1) "Agreement" means a revitalization agreement entered into, pursuant to KRS 154.26-090, on behalf of the authority and an approved company with respect to an economic revitalization project; (2) "Agrib…

The General Assembly finds and declares that the general welfare and material well-being of the citizens of the Commonwealth depends in large measure upon the revitalization and development of industry in the Commonwealth, and that it is in the best interest of the Commonwealth t…

The secretary of the Cabinet for Economic Development shall provide sufficient personnel to serve as staff for the authority in order to permit the authority to adequately discharge its duties and responsibilities prescribed in KRS 154.26-015 to 154.26-100.

No director or officer of the authority shall be subject to any personal liability or accountability by reason of his execution of any obligation duly authorized by the authority.

The authority may accept and expend moneys which may be appropriated from time to time by the General Assembly, or moneys which may be received from any source, including income from the authority's operations for effectuating its purpose, including, without limitation, the payme…

(1) No director, officer, or employee of the authority shall be interested, directly or indirectly, or shall be an officer or employee, or have an ownership interest in any firm or corporation interested, directly or indirectly, in any contract with the authority. (2) Should a di…

-- Request for emergency declaration -- Authorizing resolution -- Application for and approval of supplemental projects -- Meetings. (1) The authority shall establish standards for the determination and approval of eligible companies and their projects by the promulgation of admi…

before July 13, 2004. (1) If, prior to July 13, 2004, the authority has given its preliminary approval designating an eligible company as a preliminarily approved company and authorizing the undertaking of an economic revitalization project, but has not entered into a final agree…

preliminarily approved on or before June 30, 2021. If an eligible company has not received preliminary approval on or before June 30, 2021, the eligible company shall not receive final approval by the authority to become an approved company under this subchapter. Outstanding elig…

Occupational license fee termination -- Assessment fee -- Effect of excess in assessments. (1) The authority, upon adoption of its final approval, may enter into, with any approved company, an agreement with respect to its project or a supplemental project agreement with respect …

Committee on Appropriations and Revenue. By July 1, 2019, and by each July 1 thereafter, the authority and the Department of Revenue shall jointly provide a report to the Interim Joint Committee on Appropriations and Revenue for each project approved under this subchapter. The re…

approved company. (1) The approved company may require that each employee subject to the income tax imposed by KRS 141.020, whose job was preserved or created as a result of the project or supplemental project, as a condition of employment or the retention of employment, agree to…

KRS 154.26-010 to 154.26-100 shall be known as the Kentucky Industrial Revitalization Act.