AN ACT relating to economic development.
     Amend KRS 147.075 to remove the secretary of the Cabinet for Economic Development from the State Planning Committee; amend KRS 154.22-010 to remove from KREDA the requirement that the cabinet use the most current wage and employment data to determine the "average hourly wage"; amend KRS 154.22-050 to require approved companies under KREDA to maintain the minimum 15 new full-time employees at the employment site throughout the term of the agreement; require suspension and allow termination of inducements if the minimum 15 full-time employees are not maintained; amend 154.23-010 to remove from KEOZ the requirement that the Cabinet use the most current wage and employment data to determine the "average hourly wage"; clarify that eligible service or technology activities are limited to those that are new or expanded; include under the definition of "economic development project" the service or technology activity of an approved company with one or more of its affiliates; define "person"; limit relocation costs included under "start-up costs" to the relocation of out-of-state equipment; include under the definition of "service or technology" the regional or headquarters operations of an entity engaged in service or technology activities; exclude from the definition of "service or technology" the activities of individuals providing direct service to the public pursuant to an issued license; amend KRS 154.23-015 to allow a KEOZ applicant to modify or maintain its zone if a census tract becomes noncontiguous as a result of decertification by the authority; amend various sections of subchapter 23 of KRS chapter 154 to require that all approved companies under KEOZ shall select the activation date within two years of the date of final approval; require approved companies under KEOZ to maintain the minimum 10 new full-time qualified employees at the site throughout the term of the agreement; require suspension and allow termination of inducements if the minimum 10 new full-time qualified employees are not maintained; amend KRS 154.23-055 to allow, with the authority's consent, an affiliate of an approved company under KEOZ to require an assessment; amend KRS 154.24-010 to remove from KJDA the requirement that the Cabinet use the most current wage and employment data to determine the "average hourly wage"; clarify that eligible service or technology activities are limited to those that are new or expanded; include under the definition of "economic development project" the service or technology activity of an approved company with one or more of its affiliates; limit relocation costs included under "start-up costs" to the relocation of out-of-state equipment; include under the definition of "service or technology" the regional or headquarters operations of an entity engaged in service or technology activities; exclude from the definition of "service or technology" the activities of individuals providing direct service to the public pursuant to an issued license; amend KRS 154.24-120 to require that approved companies under KJDA maintain the minimum 15 new full-time employees at the site and provide more than 75% of services out-of-state throughout the term of the agreement; require suspension and allow termination of inducements if the minimum 15 new full-time employees are not maintained or the services provided out-of-state do not exceed 75%; amend various sections of subchapter 26 of KRS chapter 154 to increase the percentage of approved costs that the company may recover, to be negotiated by the authority and not to exceed 75%; remove the employee contribution portion of the wage assessment, and limit total assessment to 5%; allow the authority to negotiate the license tax credit up to 100% of the computed license tax attributable to the location of the project; create a new section of subchapter 26 of KRS chapter 154 to give preliminarily approved companies the option to operate under existing terms or request that the agreement be amended to comply with amendments to the program; give companies under a final agreement the option to operate under existing terms or request that the agreement be amended to comply with the amendments to the employee assessment portion of the agreement; amend 154.28-010 to remove from KIDA the requirement that the cabinet use the most current wage and employment data to determine the "average hourly wage"; amend 154.28-090 to require that approved companies under KIDA maintain the minimum 15 new full-time employees at the site; require suspension and allow termination of inducements if the minimum 10 new full-time employees are not maintained; amend KRS 154.47-110 to detach the Kentucky Forest Products Council from the Cabinet for Economic Development; remove the secretary of the Cabinet for Economic Development as an ex officio member; add one representative from public interest groups to be appointed by the Governor; amend 198A.035 to remove the secretary of the Cabinet for Economic Development from the advisory committee on housing policy; amend 342.1224 to remove the secretary of the Cabinet for Economic Development from the board of the Workers' Compensation Funding Commission; add one at-large member to be appointed by the Governor; amend 141.310 and 154.26-010 to conform.

     Feb 25-introduced in House
     Feb 26-to Economic Development (H)
     Mar 1-posted in committee
     Mar 11-reported favorably, 1st reading, to Calendar with Committee Substitute
     Mar 12-2nd reading, to Rules
     Mar 15-posted for passage in the Regular Orders of the Day for Tuesday, March 16, 2004; floor amendment (1) filed to Committee Substitute
     Mar 17-3rd reading, passed 94-0 with Committee Substitute
     Mar 18-received in Senate
     Mar 19-to Economic Development, Tourism & Labor (S)
     Mar 23-reported favorably, 1st reading, to Calendar; floor amendment (1) filed
     Mar 24-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, March 25, 2004
     Mar 25-3rd reading, passed 34-0 with floor amendment (1)
     Mar 26-received in House; to Rules (H)
     Mar 29-placed in the Orders of the Day; House concurred in Senate floor amendment (1) ; passed 95-0; enrolled, signed by each presiding officer; delivered to Governor
     Apr 9-signed by Governor (Acts ch. 105)