Title XII, Conservation and State Development

development fund. The Department for Local Government shall prepare and submit to the Office of the Governor and the Legislative Research Commission a report by November 1 of each year on the status of the Kentucky Appalachian regional development fund. The report shall include t…

As used in this subchapter: (1) "Affiliate" has the same meaning as in KRS 154.32-010; (2) "Agribusiness" has the same meaning as in KRS 154.32-010; (3) "Alternative fuel production" has the same meaning as in KRS 154.32-010; (4) "Approved company" means an eligible company appro…

Standards and criteria for approval -- Preliminary and final approval of company by authority -- Reinvestment agreement -- Notice to department -- Department to monitor use of incentives. (1) The application and approval process under this subchapter shall be as follows: (a) An e…

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

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 by approved companies with respect to their reinvestment projects under…

KRS 154.34-010 to 154.34-100 shall be known as the Kentucky Reinvestment Act.

requirements for recovery of costs and tax incentives -- Legislative findings -- Annual report. (1) The purpose of this subchapter is to provide a means for the Commonwealth to promote job retention by providing incentives for existing businesses to reinvest in existing operation…

company. (1) Except as provided in subsection (5) of this section, for taxable years beginning after December 31, 2009, an approved company may be eligible for a nonrefundable credit of up to one hundred percent (100%) of the Kentucky income tax imposed under KRS 141.020 or 141.0…

As used in this subchapter, unless the context indicates otherwise: (1) "Beneficiary of an economic incentive package" means any entity for which any assessment, incentive, inducement, or tax credit is issued or awarded pursuant to KRS 154.22-010 to 154.22-070, KRS 154.24-010 to …

research centers -- Integration of basic research centers and applied research centers. (1) The Kentucky Science and Technology Council, Inc., is authorized to establish the Kentucky Research and Development Infrastructure in accordance with guidelines developed and adopted by th…

The council shall have all the powers and authority, not explicitly prohibited by statute, necessary and convenient to carry out and effectuate the purposes of KRS 154.35-010 to 154.35-055, including, but not limited to: (1) Entering into contracts or agreements necessary or inci…

There is established a fund entitled the "Kentucky Research and Development Infrastructure Fund" for the purposes and benefit of the Kentucky Research and Development Infrastructure. The fund may receive state appropriations, gifts, grants, and any other funds both public and pri…

The council shall allocate moneys from the fund for the operation of the infrastructure and the centers subject to the following limitations: (1) The council may retain not more than eight percent (8%) of the deposits into the fund in any budget year for the central administratio…

Legislative Research Commission -- Audits. (1) The council is authorized to establish accounts for each research center approved by the council. Each account shall be kept separately from any other accounts established by the council and shall be kept separately from any other mo…

Advisory committees -- Goal of infrastructure -- Centers to retain or contract with experts. (1) The function of the basic research centers shall be to perform basic research of significant benefit to one (1) or more key industries that have been identified in and targeted by the…

Universities individually or jointly eligible to serve as contracting universities for the centers set forth in KRS 154.35-020 may qualify by: (1) Agreeing to match the moneys allocated to the center by the council from the fund dollar-for-dollar from nonstate, nonagency funds ra…

As used in KRS 154.40-010 to 154.40-060, unless the context indicates otherwise: (1) "Board" means the board of directors of the Eastern Kentucky Exposition Center Corporation; (2) "Center" means the Eastern Kentucky Exposition Center; and (3) "Corporation" means the Eastern Kent…

(1) The Eastern Kentucky Exposition Center Corporation is created and established as an independent, de jure municipal corporation and political subdivision of the Commonwealth that shall be a public body corporate and politic. The corporation shall develop, operate, and manage t…

(1) The corporation shall be governed by a board of directors consisting of seven (7) members appointed as follows: (a) Three (3) members appointed by the Governor; (b) Two (2) members appointed by the county judge/executive of Pike County; and (c) Two (2) members appointed by th…

(1) The board may develop articles of incorporation and appropriate documentation to establish its existence as a corporation under KRS 58.180. (2) A quorum of the board shall consist of four (4) members, with a majority of members present authorized to act upon any matter legall…

The Eastern Kentucky Exposition Center Corporation shall have the following powers and duties: (1) The corporation shall supervise the design, construction, and operation of the Eastern Kentucky Exposition Center and shall provide all management functions for the facility and for…

(1) All revenues derived by the corporation from the use of Eastern Kentucky Exposition Center, all contributions to the center from other sources, and any revenues derived by the corporation from any other source shall be used solely for the expenses of the center, including pay…

As used in this subchapter, unless the context clearly indicates otherwise: (1) "Center" means the Quicksand Wood Utilization Center located in Breathitt County, Kentucky; (2) "Certified tree farmer" means a person whose tree farm is certified by the Kentucky Tree Farm Committee …

(1) The General Assembly of the Commonwealth of Kentucky finds that the forests of the Commonwealth provide abundant, renewal timber resources that historically have been underdeveloped, underutilized, and poorly managed, but which have proven to be resilient; and that, with prop…

other wood products by Kentucky Department of Parks. The Kentucky Department of Parks of the Tourism, Arts and Heritage Cabinet shall, whenever practicable: (1) Develop and design Kentucky-made furniture for use in state parks; (2) Make state parks facilities living showrooms for…

(1) Notwithstanding the provisions of KRS Chapter 151B, the University of Kentucky, Eastern Kentucky University, Morehead State University, and the Kentucky Community and Technical College System in conjunction with the Department of Workforce Development in the Education and Lab…

Demonstration projects. (1) The University of Kentucky College of Agriculture may operate the Quicksand Wood Utilization Center, which is located in Breathitt County at the Quicksand Substation of the College of Agriculture of the University of Kentucky, as a hub for the expansio…

worker safety. (1) The Kentucky Division of Forestry shall develop and implement a program to provide training and assistance to private woodland owners in best management practices of forest development and sustainability. The training and assistance program shall provide advice…

(1) It is hereby found, determined, and declared as a legislative finding of fact that the general welfare of the citizens of the Commonwealth is directly related to the economic and employment opportunities available to them, and it is the legitimate business of the Kentucky sta…

(1) In carrying out the purposes of KRS 154.50-020 to 154.50-030, and in providing for the expenditure of funds to industrial entities to assist in the implementation of an industrial improvement project, the cabinet may find that the cost may be paid in whole or in part out of f…

KRS 154.50-301 to 154.50-346 shall be known as the Local Industrial Development Authority Act.

As used in KRS 154.50-301 to 154.50-346, unless the context otherwise requires: (1) "Authority" means a local industrial development authority as established by KRS 154.50-301 to 154.50-346. (2) "Industrial sites, parks and subdivisions" means land and improvements thereon, inclu…

The purpose of KRS 154.50-301 to 154.50-346 is to create local industrial development authorities to aid in the acquisition, retention and development of land for industrial and commercial purposes in Kentucky; to aid in the development and promotion of industrial sites, parks an…

(1) Any governmental unit by act of its legislative body may establish a nonprofit industrial development authority to be composed of not less than six (6) and not more than eight (8) members. (2) The authority shall be a body politic and corporate with the usual corporate attrib…

(1) The purpose, duties, and powers of the authority shall be to: (a) Acquire, retain, and develop land for industrial and commercial purposes in Kentucky; aid in the development and promotion of industrial sites, parks, and subdivisions to meet industrial and commercial needs in…

Notwithstanding any other provision or section of KRS 154.50-301 to 154.50-346, no governmental unit shall have the power to condemn property under KRS 154.50-301 to 154.50-346 unless the governmental unit has first given proper public notice as required by law stating the specif…

(1) The members of the authority shall be appointed as follows: (a) If the authority is established by a city, the members shall be appointed by the mayor of the city; (b) If the authority is established by a county, the members shall be appointed by the county judge/executive; (…

(1) In the event that a joint industrial development authority is created by cities and/or counties, and thereafter a city or cities or county or counties desire to withdraw from participation, then the remaining participants may jointly choose a successor member or members of th…

A quorum for the transacting of the business of the authority shall consist of a majority of the members. Meetings of the authority may be called by the chairman or by a majority of the members. In case of tie voting by the authority, the issue shall be deemed to have failed pass…

(1) Members of the authority shall serve without compensation but shall be reimbursed for any actual and necessary expenses incurred by them in the conduct of the affairs of the authority. The authority shall, upon the appointment of its members, organize and elect officers. The …

borrowing or by issuance of revenue bonds. (1) In order to provide money for the purchase of property necessary to develop industrial sites, parks, and subdivisions, the legislative body of any governmental unit creating the industrial development authority under KRS 154.50-301 t…

The title to all property acquired by the authority shall vest in the authority. All property acquired for the development of industrial sites, parks and subdivisions shall be exempt from taxation to the same extent as other property used for public purposes. All revenues collect…

The acquisition of any lands for the purpose of developing industrial sites, parks and subdivisions is hereby declared to be a public and governmental function, exercised for a public purpose, and a matter of public necessity, and such lands and other property, easements and priv…

Any authority shall comply with the provisions of KRS 65A.010 to 65A.090.

This subchapter shall be known as the Small Business Tax Credit and Selling Farmer Tax Credit Programs.

As used in this subchapter: (1) "Authority" means the Kentucky Economic Development Finance Authority; (2) (a) "Average hourly wage" means the per-hour wage earned by a full-time employee, including wages, tips, overtime, bonuses, and commissions, as reflected on the employee's f…