House Bill 512

Actions | Amendments
Last Action to Rules (H)
Title AN ACT relating to tax increment financing.
Bill Documents Bill
Impact Statements Fiscal Note
Local Mandate
Bill Request Number 265
Sponsors R. Webb, H. Moberly Jr., L. Clark
Summary of Original Version Create a new section of KRS 65.7041 to 65.7083 to abolish the Tax Increment Financing Commission and the Office of Tax Increment Financing and to provide for the transfer of all records to the Kentucky Economic Development Finance Authority (KEDFA); establish a new Subchapter 30 of KRS Chapter 154 to move the state tax increment financing program from the Tax Increment Financing Commission to KEDFA; amend KRS 65.7043, 65.7047, 65.7053, 65.7055, 65.7061, 65.7063, and 65.7083 to conform; amend KRS 65.7045 to conform and to add definitions for "previously developed land" and "previously undeveloped land"; amend KRS 65.4049 to clarify the conditions under which previously developed land may qualify to be included in a development area, to clarify the requirements for local findings, and to require that KEDFA confirm the basis for the local findings as part of the application review process; amend KRS 65.7051 to require additional information on development area boundaries; create a new section of KRS 65.7041 to 65.7083 to allow local governments to impose a wage assessment within a local development area or development area; amend KRS 65.7057 to conform; create new sections of Subchapter 30 of KRS Chapter 154 to define terms; establish the purpose of the subchapter; set forth the requirements for applications and review standards; establish and provide conditions for incentive programs; establish conditions and terms for tax incentive agreements; and to establish monitoring requirements; create a new section of KRS Chapter 139 to establish terms and conditions for sales tax incentive; amend KRS 131.020 to delete provisions relating to the office; amend KRS 154.01-010 and 91A.390 to conform; repeal KRS 65.7069, 65.7071, 65.7073, 65.7075, 65.7077, 65.7079, 65.7081 and 139.515.
Index Headings of Original Version Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Proposed Amendments House Committee Substitute 1
House Floor Amendment 1
House Floor Amendment 2
House Floor Amendment 3
House Floor Amendment 4
House Floor Amendment 5
Senate Committee Substitute 1
Senate Committee Amendment 1
Votes Vote History

Actions

Top | Amendments
02/11/08
  • introduced in House
02/12/08
  • to Appropriations & Revenue (H)
02/21/08
  • posted in committee
02/28/08
  • floor amendment (1) filed to Committee Substitute
  • reported favorably, 1st reading, to Calendar with Committee Substitute
02/29/08
  • 2nd reading, to Rules
  • floor amendment (2) filed to Committee Substitute
03/03/08
  • posted for passage in the Regular Orders of the Day for Tuesday, March 4, 2008
03/05/08
  • floor amendment (3) filed to Committee Substitute
03/07/08
  • floor amendment (4) filed to Committee Substitute
03/10/08
  • floor amendment (5) filed to Committee Substitute
03/13/08
  • 3rd reading, passed 73-22 with Committee Substitute, floor amendments (1) and (5)
03/14/08
  • received in Senate
03/18/08
  • to Appropriations & Revenue (S)
04/01/08
  • taken from committee Appropriations & Revenue (S)
  • 1st reading
  • returned to Appropriations & Revenue (S)
04/02/08
  • reported favorably, 2nd reading, to Rules with Committee Substitute, committee amendment (1-title) as a Consent Bill
04/14/08
  • posted for passage in the Consent Orders of the Day for Monday, April 14
04/15/08
  • 3rd reading, passed 37-0 with Committee Substitute, committee amendment (1-title)
  • received in House
  • to Rules (H)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Impact Statements Fiscal Note
Local Mandate
Summary Retain original provisions except clarify that all existing TIF projects and agreements shall be transferred to KEDFA; require the Department of Revenue to obtain consent from taxpayers before transferring confidential information to KEDFA; delete provisions that include services subject to tax under KRS Chapter 139 within the definition of retail for premier projects; delete requirement that mixed use projects meet an additional blight condition to qualify; limit the individual income tax that can be pledged by the Commonwealth to 4% of the gross wages of each eligible worker; establish a tax increment financing account in the Finance and Administration Cabinet.
Index Headings Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs

Amendment House Floor Amendment 1
Sponsor R. Webb
Summary Amend Section 13 of the Act to provide that projects established under prior law will be administered and interpreted in accordance with the law in effect at the time the project was approved.
Index Headings Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs

Amendment House Floor Amendment 2
Sponsor D. Keene
Summary Add a new section to provide that any applications outstanding under KRS 65.7041 to 65.7083 on the effective date of this Act may be approved by the Kentucky Economic Development Finance Authority using the provisions of KRS 65.7041 to 65.7083 as it existed prior to the effective date of this Act.
Index Headings Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs

Amendment House Floor Amendment 3
Sponsor R. Webb
Summary Retain original provisions; add new noncodified section to allow KEDFA to amend an existing agreement entered into under the provisions of KRS 65.7041 to 65.7083 if application is made by an agency not located in a consolidated local government, to reduce the minimum capital investment from $200 million to not less than $175 million and to amend the agreement accordingly.
Index Headings Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs

Amendment House Floor Amendment 4
Sponsor D. Keene
Summary Add a new section to provide that any applications outstanding under the provisions of KRS 65.7041 to 65.7083 relating to a project in a city of the 4th class on the effective date of the Act may be approved by the Kentucky Economic Development Finance Authority under the provisions of KRS 65.7041 to 65.7083 as it existed prior to the effective date of the Act.
Index Headings Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs

Amendment House Floor Amendment 5
Sponsor R. Webb
Summary Retain original provisions; add new noncodified section to require KEDFA to amend an existing agreement entered into under the provisions of KRS 65.7041 to 65.7083 if application is made by an agency not located in a consolidated local government, to reduce the minimum capital investment from $200 million to not less than $175 million and to amend the agreement accordingly, including a commensurate reduction in the pledge of state incremental revenues.
Index Headings Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs

Amendment Senate Committee Substitute 1
Impact Statements Fiscal Note
Summary Remove all original provisions of bill; amend KRS 141.010 to provide for an exemption for active duty military pay.
Index Headings Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs

Amendment Senate Committee Amendment 1
Sponsor C. Borders
Summary Make title amendment.
Index Headings Cities - Tax increment financing, program
Counties - Tax increment financing, programs
Economic Development - Tax increment financing, administration by KEDFA
Economic Development - Tax increment financing, commission abolished
Taxation - Tax increment financing, programs
Local Mandate - Tax increment financing, programs
Fiscal Note - Tax increment financing, programs
Local Mandate - Tax increment financing, programs

Last updated: 8/28/2019 8:09 AM (EDT)