Title XII, Conservation and State Development

To provide loan insurance pursuant to KRS 154.20-040 and 154.20-045, the authority may enter into a contract of insurance. The Kentucky Insurance Code shall not apply to the insurance contract, and the authority shall not be considered an insurer subject to the Kentucky Insurance…

projects. (1) Insurance, guarantees, or letters of credit provided or procured pursuant to KRS 154.20-040 and 154.20-045 shall be provided or procured only for projects within this state which are consistent with the purposes and objectives of the authority and this chapter. (2) …

financial support -- Terms and conditions determined by authority. (1) Insurance, guarantees, or letters of credit shall not be provided or procured unless the authority shall be legally assured that the loans, debentures, or leases insured, or guaranteed, or for which letters of…

The authority may enter into agreements with lenders for participation in loan insurance. The agreements may include, but need not be limited to: (1) Authorization for the lender to determine, collect, and transmit to the authority a fee or premium charge within a specified range…

The authority may establish a special fund or funds solely to secure some or all of its obligations within the loan insurance account into which fees or premiums collected by the authority for loan, debenture, or lease insurance, guarantees, or letters of credit may be deposited.

(1) Assistance for reclamation development projects shall be provided by a fund, which shall be established and managed by the authority, to be known as the reclamation development fund. (2) The authority shall pay into the fund any money appropriated or otherwise provided by the…

Moneys in the reclamation development fund: (1) Shall be used to foster reclamation development projects described in a reclamation development plan submitted to the authority as part of the application for reclamation development fund moneys, except that no money in the reclamat…

All applications made to the authority shall be subject to written approval by a local development corporation, local development agency, or in the absence thereof, approval by a local governmental body.

In any legal action brought by the authority or the insurance corporation to obtain the collection or repayment of a defaulted loan, as part of a successful judgment against the debtor or guarantor, the authority or insurance corporation shall be entitled to an award of reasonabl…

(1) No member of the authority or officer or employee thereof shall either directly or indirectly be a party to or be in any manner interested in any contract or agreement with the authority for any matter, cause, or thing whatsoever by reason whereof any liability or indebtednes…

and obligations. (1) The authority may negotiate with other agencies of the state government to obtain the use of moneys which such agencies are authorized to invest in government obligations. Funds so negotiated shall be transferred on an inter-account basis to the appropriate f…

activity report. (1) On or before October 1, 1992, and on or before the first day of every third month thereafter, the authority shall provide a written project status report to the Legislative Research Commission, and the authority shall be compelled to send a representative to …

requests for financial assistance. (1) The Kentucky Economic Development Finance Authority, or its successor, shall develop, pursuant to KRS 154.20-030 to 154.20-150, criteria which may be used by the authority in considering the requests by industrial entities for financial assi…

(1) Industrial entities, agricultural business entities, business enterprises, or private sector firms which are members of a business network within the meaning of KRS 154.1-010 and businesses that compose the secondary wood products industry as defined in KRS 154.47-005(5), sha…

Administration of fund. (1) Any business firm that is a member of an approved business network comprising individual firms, companies, agricultural business entities, or industrial entities that have been identified as key industries and that have been targeted by the state's eco…

(1) As used in this section: (a) "Authority" means the Kentucky Economic Development Finance Authority; (b) "Qualifying former hospital" means a hospital facility: 1. At a location that closed within thirty-six (36) months prior to an application for a loan; and 2. For which the …

Application -- Approval -- Notification of department. (Effective July 1, 2027) (1) As used in this section: (a) "Authority" means the Kentucky Economic Development Finance Authority established by KRS 154.20-010; (b) "Certified mixed-use rehabilitation" means the development, re…

As used in KRS 154.20-200 to 154.20-216, unless the context clearly indicates otherwise: (1) "Agreement" means any agreement made pursuant to KRS 154.20-210 between the authority and an approved company with respect to an economic development project in which inducements are gran…

approval of eligible companies and economic development projects. (1) The authority shall promulgate administrative regulations, pursuant to KRS Chapter 13A, for approving eligible companies pursuant to KRS 154.20-200 to 154.20-216. (2) Relevant standards for approval of eligible…

approved projects. New applications shall not be accepted or considered under KRS 154.20-200 to 154.20- 216 on or after June 26, 2009. All outstanding approved projects as of June 26, 2009, shall continue to be governed by the provisions of KRS 154.20-200 to 154.20-216.

company -- Transfer of designation as approved company. (1) The total tax refund incentive available for commitment by the authority for all projects, for each fiscal year, shall not exceed twenty million dollars ($20,000,000) for building and construction materials and five mill…

Administrative regulations. (1) Notwithstanding any provision of KRS 139.770 to the contrary, an approved company under the terms of KRS 154.20-200 to 154.20-216 may receive a tax refund of sales and use tax paid on approved expenses for the cost of building and construction mate…

company. (1) An eligible company may apply to be designated an approved company under KRS 154.20-200 to 154.20-216 by the authority on and after October 1, 2005. (2) No approvals under KRS 154.20-200 to 154.20-216 shall be effective before January 1, 2006.

Before any approved company is granted inducements as provided in KRS 154.20-200 to 154.20-216, an agreement with respect to the company's economic development project shall be entered into between the authority and the approved company. The terms and provisions of the agreement,…

Records Act. The contents of a company's filings under KRS 154.20-200 to 154.20-216 shall be subject to the Kentucky Open Records Act, KRS 61.870 to 61.884.

Governor. The authority shall annually submit a complete and detailed report of the use of the incentives and participation of approved companies under KRS 154.20-200 to 154.20- 216 within one hundred twenty (120) days after the end of each fiscal year to the Legislative Research…

KRS 154.20-200 to 154.20-216 shall be known as the Kentucky Enterprise Initiative Act.

As used in KRS 154.20-220 to 154.20-229: (1) "Affiliate" means the following: (a) Members of a family, including only brothers and sisters of the whole or half blood, spouse, ancestors, and lineal descendants of an individual; (b) An individual, and a corporation more than fifty …

(1) The purposes of KRS 154.20-220 to 154.20-229 are to: (a) Provide incentives for an approved company with a qualified data center project; (b) Encourage the location of data centers within the Commonwealth; and (c) Advance the public purposes of the: 1. Creation of new jobs th…

(1) The application, approval, and review process under KRS 154.20-220 to 154.20- 229 shall be as follows. (a) An eligible company with a proposed data center project may submit an application to the authority detailing the proposed data center project; (b) Upon review of the app…

(1) The authority shall not approve a proposed data center project that otherwise meets the requirements of KRS 154.20-220 to 154.20-229 if the proposed data center project will result in the replacement of facilities existing in the state, except as provided in this section. (2)…

The authority, with preliminary approval of an eligible company, may execute a memorandum of agreement with the eligible company. The terms and conditions of the memorandum of agreement shall be negotiated between the authority and the company. The terms of the memorandum of agre…

As used in KRS 154.20-230 to 154.20-240: (1) "Application" means a document submitted by small businesses and investors, on a form supplied by the authority, for the purpose of requesting certification to participate in the program and to apply for a credit; (2) "Authority" means…

(1) KRS 154.20-230 to 154.20-240 shall be known as the "Kentucky Angel Investment Act." (2) The purpose of KRS 141.396 and 154.20-230 to 154.20-240 is to encourage capital investment in the Commonwealth by individual investors that will further the establishment or expansion of s…

July 15, 2026) (1) The requirements for small businesses, investors, and investments to be qualified for participation in the Angel Investor Program are as follows: (a) To be certified as a qualified small business, the business shall demonstrate to the authority that it is an en…

regulations -- Contract for administration and management of certification and application procedure. (1) The total amount of credit that may be awarded by the authority in each calendar year, pursuant to KRS 154.20-230 to 154.20-240, to: (a) All qualified investors shall be no m…

reports. (1) No later than the earlier of: (a) Eighty (80) days following the date of credit approval, including weekends and holidays; or (b) December 31 of the calendar year of the approval; The qualified investor shall make the qualified investment and provide proof of the qua…

(1) On or before February 1 of the calendar year succeeding the year in which a credit was awarded, and continuing for four (4) years thereafter, a qualified small business that has received a qualified investment shall file an annual report with the authority. (2) (a) This repor…

The purposes of KRS 154.20-250 to 154.20-284 are to encourage capital investment in the Commonwealth of Kentucky, to encourage the establishment or expansion of small businesses in Kentucky, to provide additional jobs, and to encourage the development of new products and technolo…

Catchline at repeal: Definitions for KRS 154.20-250 to 154.20-284.

As used in KRS 154.20-250 to 154.20-284, unless the context clearly requires otherwise: (1) "Affiliate" means any person or entity who directly or indirectly, through one (1) or more intermediaries, controls or is controlled by or is under common control with another person or en…

manager -- Requirements for investment fund -- Agreement -- Total qualified investments made by fund. (1) (a) The total amount of credits available to any single investment fund awarded credits under KRS 154.20-250 to 154.20-284 shall not exceed, in aggregate: 1. For any calendar…

Documents -- Powers of authority -- Purpose of investment fund -- Criteria for approval -- Disclosure form -- Operation of multiple funds -- Loss of unused credits -- Confidentiality -- Standards. (1) The approval of investment funds and investment fund managers shall be made pur…

Catchline at repeal: Approval of investment funds, cash contributions, and investment fund managers -- Tax credits authorized by KRS 154.20-263 -- Agreement between authority and investment fund manager -- Transfer of funds -- Schedule for investment -- Prohibition against awardi…

Transferability -- Notification of Department of Revenue -- Additional credits. (1) (a) For investment funds approved by the authority prior to January 1, 2023, an investor shall be entitled to a nonrefundable credit equal to forty percent (40%) of the investor's proportional own…

Catchline at repeal: Information that applicant must disclose to authority in application -- Confidentiality of applications -- Power of authority -- Purpose of investment funds -- Criteria for approval of investment fund managers -- Authority for administrative regulations.

(1) To receive the credit provided by KRS 154.20-258, an investor shall claim the credit on the investor's annual state tax returns in the manner prescribed by the Department of Revenue. (2) The contents of an investor's filings under subsection (1) of this section shall be treat…

Catchline at repeal: Fund manager's business office -- Initial capitalization, qualified investments, and other regulations governing fund -- Written disclosure to investors required -- Limitation of Commonwealth's liability.

Department of Revenue. (1) An investment fund that violates the provisions of KRS 154.20-250 to 154.20-284 shall pay to the State Treasurer a penalty in an amount equal to the amount of all credits claimed by the investors when these credits are determined to be derived from unqu…

Catchline at repeal: Investor entitled to nonrefundable tax credit against income tax or corporation license tax -- Authority to carry excess tax credit forward -- Tax credits not transferable and not applicable to interest, penalties, or other additions to investor's tax liabili…