Title XII, Conservation and State Development

As used in this subchapter: (1) "Activation date" means the date on which an approved company begins incurring recoverable costs or engaging in recoverable activity pursuant to the tax incentive agreement. The activation date shall be set forth in the tax incentive agreement and …

Incentives. (Effective July 1, 2021) (1) This subchapter shall be known as the "Incentives for Energy-related Business Act." (2) The General Assembly hereby finds and declares that it is in the best interest of the Commonwealth to induce the location of innovative energy-related …

projects involving new, retrofitted, or upgraded alternative fuel facilities. (Effective July 1, 2021) (1) A company with an eligible project may submit an application for incentives to the authority prior to making any capital investment it will seek to recover. (2) The applicat…

The terms and conditions of the tax incentive agreement shall be negotiated between the authority and the approved company. The tax incentive agreement may include one (1) or more of the incentives available under this subchapter or any combination of the incentives as negotiated…

Monitoring, tracking, and reporting requirements. (1) The department may release to an approved company any sales tax incentives under KRS 139.517 and 154.27-070 after review of the request for incentives required by KRS 139.517 and determination of the amount due regardless of w…

(1) (a) Notwithstanding any other provision of KRS 134.580 or KRS Chapter 143, an approved company that purchases or severs coal that: 1. Is subject to the tax imposed under KRS 143.020; and 2. Is used by the approved company exclusively as feedstock for an alternative fuel facil…

(1) Notwithstanding KRS 134.580(3) and 139.770, on or after January 1, 2008, an approved company is eligible for an incentive in an amount up to one hundred percent (100%) of the Kentucky sales and use tax paid, reduced by the vendor compensation provided under KRS 139.570, on th…

employees' wages. An approved company may be eligible for income tax-related incentives as follows: (1) A credit of up to one hundred percent (100%) of the Kentucky income tax imposed under KRS 141.040 or 141.020, and the limited liability entity tax imposed under KRS 141.0401 th…

disbursement amount -- Schedule for disbursement -- Repayment. (1) An approved company may be eligible for the advance disbursement of a portion of the post-construction period incentives for which it has been approved. The amount of the advance disbursement shall be based on the…

(Effective July 1, 2021) No application for incentives found in KRS 154.27-010 to 154.27-100 shall be accepted by the authority for alternative fuel facilities, gasification facility, energy-efficient facility, renewable energy facility, or a carbon dioxide transmission pipeline …

condemnation under Eminent Domain Act -- Legislative determination of essential public use. (1) For the purposes of this section, "carbon dioxide transmission pipeline" has the same meaning as in KRS 154.27-010. (2) If a carbon dioxide transmission pipeline company has received a…

As used in KRS 154.28-010 to 154.28-100, unless the context clearly indicates otherwise: (1) "Activation date" means a date selected by an approved company in the agreement at any time within the two (2) year period after the date of final approval of the agreement by the authori…

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

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 154.28-015 to 154.28-090 and 141.400.

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, but not limited to, the paym…

authority. (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…

Authorizing resolution. (1) The authority shall promulgate standards for the determination and approval of eligible companies and their economic development projects in accordance with KRS Chapter 13A. (2) The standards for approval of eligible companies and economic development …

- Tax credits and assessments as inducements for approved companies -- Assignment of agreement -- Documentation of expenditures -- Suspension of inducements -- Authority's remedies in case of failure to comply -- Activation date -- Duties of Department of Revenue. The authority, …

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 154.28-010 to 154.28-100 shall be known as the Kentucky Industrial 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 …

(1) The approved company or, with the authority's consent, an affiliate of the approved company may require, in lieu of receiving the income tax credits described in KRS 154.28-090, that each employee subject to state tax imposed by KRS 141.020, as a condition of employment, agre…

Costs incurred by an applicant in remediating a property in accordance with KRS 224.1- 510 to 224.1-532 shall be considered eligible costs for the purposes of KRS 154.28-010 to 154.28-100.

enter 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 autho…

As used in this subchapter: (1) "Activation date" means: (a) For all projects except those described in paragraph (b) of this subsection, the date established any time within a two (2) year period after the commencement date. The Commonwealth may extend the two (2) year period to…

projects. (1) The General Assembly finds that the establishment of development areas and projects which result in increased property values, increased employment opportunities, and increased economic activity in communities within the Commonwealth serves a public purpose. (2) The…

Application requirements for a local government to request state participation -- Authority review requirements -- Pledge limitations -- Tax incentive agreements required -- Independent consultant's report. (1) (a) The Commonwealth shall offer three (3) tax increment financing pa…

Valorem Tax Revenues -- Criteria for state participation -- Qualifying expenditures -- Pledge limitations -- Authority review -- Required determinations by the authority -- Tax incentive agreement required. (1) The Commonwealth Participation Program for State Real Property Ad Val…

state participation -- Qualifying expenditures -- Authority review -- Required determinations by the authority -- Pledge limitations -- Tax incentive agreement required. (1) The Signature Project Program is hereby established. The purpose of this program is to encourage private i…

in Blighted Urban Areas -- Definitions -- Criteria for state participation -- Qualifying expenditures -- Authority review -- Required determinations by the authority -- Pledge limitations -- Tax incentive agreement required. (1) The Commonwealth Participation Program for Mixed-Us…

between authority and agency -- Provisions of agreement -- Pledge of incremental revenues superior to other pledges of revenues -- Renewal and discontinuance of agreement. (1) The terms and conditions of the tax incentive agreement shall be negotiated between the authority and th…

release of incremental revenues -- Escrow account -- Cancellation if agency fails to meet minimum investment -- Duties of authority to monitor agreements and track revenues. (1) (a) Prior to any incremental revenues being released by the Commonwealth for any project, the authorit…

(1) (a) Any agency that enters into a tax incentive agreement for the release of incremental revenues shall, after each calendar year, in which a tax incentive agreement is in effect, notify the authority that incremental revenues are due, and in consultation with the authority, …

As used in this subchapter: (1) "Agreement" means an agreement entered into pursuant to KRS 154.31-030 between the authority and an approved company; (2) "Alternative fuel production" has the same meaning as in KRS 154.32-010; (3) "Approved company" means an eligible company that…

incentives -- Maximum incentives available to an approved company. (1) The maximum amount of sales and use tax incentives that may be committed in each fiscal year by the authority shall be capped at twenty million dollars ($20,000,000) for building and construction materials, an…

incentive -- Standards and criteria for approval -- Execution of agreement -- Annual report. (1) The application, approval, and monitoring process under this subchapter shall be as follows: (a) An eligible company with a proposed economic development project may submit an applica…

As used in this subchapter: (1) "Activation date" means the date established in the tax incentive agreement that is within two (2) years of final approval; (2) "Affiliate" means the following: (a) Members of a family, including only brothers and sisters of the whole or half blood…

Commonwealth -- Purposes -- Requirements -- Summary of incentives available -- Legislative findings. (1) The purposes of this subchapter are: (a) To provide incentives for eligible companies and to encourage the location or expansion of manufacturing facilities, agribusiness oper…

agreement -- Preliminary and final approval -- Tax incentive agreement -- Standards for approval -- Partial satisfaction of eligibility requirements. (1) The application, approval, and review process under this subchapter shall be as follows: (a) An eligible company with a propos…

Contents. The authority, upon final approval of a company, may enter into a tax incentive agreement with the approved company. The terms and conditions of the tax incentive agreement shall be negotiated between the authority and the approved company. The terms of the tax incentiv…

Criteria for approval as economic development project. (1) The authority shall not approve an economic development project that otherwise meets the requirements of this subchapter if the economic development project will result in the replacement of facilities existing in the sta…

(1) For taxable years beginning after December 31, 2009, an approved company may be eligible for a credit of up to one hundred percent (100%) of the Kentucky income tax imposed under KRS 141.020 or 141.040, and the limited liability entity tax imposed under KRS 141.0401, that wou…

against individual income tax for employees -- Assessment to cease at expiration of tax incentive agreement. (1) An approved company or, with the authority's consent, an affiliate of an approved company may impose wage assessments against employees as provided in this section if …

Semiannual report by cabinet. (1) (a) By October 1 of each year, the department shall certify to the authority, in the form of an annual report, aggregate tax credits claimed on tax returns filed during the fiscal year ending June 30 of that year and aggregate assessments taken d…

As used in this subchapter, unless the context otherwise requires: (1) "Area" or "region" means the geographical area of Kentucky contained within the Appalachian region as defined by the federal Appalachian Regional Development Act of 1965, as amended; (2) "Board" means the exec…