Title XII, Conservation and State Development

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…

Catchline at repeal: Definitions.

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…

Catchline at repeal: Enhanced incentive counties -- Annual identification and certification or decertification -- Criteria -- Multicounty industrial park projects.

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…

Catchline at repeal: Advance disbursement of portion of incentives -- Eligibility -- Computation of maximum amount -- Loan agreement -- Repayment.

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…

Catchline at repeal: Kentucky port and river development commission -- Members -- Terms -- Officers -- Quorum -- Compensation -- Removal.

Catchline at repeal: Districts from which members of commission selected.

Catchline at repeal: Executive director.

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…

board. If any member, officer or employee of the board shall be interested either 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 grant, loan, or investment from the Ke…

(1) There is created and established a fund to be known as the Kentucky Appalachian regional development fund to be administered by the Department for Local Government. (2) The Kentucky Appalachian regional development fund shall be comprised of state appropriations, repayment of…

Applications for funding -- Criteria for approval -- Administrative regulations. (1) The Kentucky Appalachian regional development fund shall be used only to support job creation and retention, entrepreneurship, tourism, broadband deployment, education and lifelong learning, work…

Applications for loans, grants, or investments submitted under KRS 154.33-552 shall include the following: (1) The name of the applicant and identification of all parties contributing to or taking a leadership role with regard to the development project; (2) A detailed descriptio…

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…

Catchline at repeal: Citation of law.