Last Action | recommitted to Appropriations & Revenue (H) |
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Title | AN ACT relating to economic development. |
Bill Documents |
Bill
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Bill Request Number | 239 |
Sponsor | R. Sanders Jr |
Summary of Original Version | Amend KRS 154.22-040 to require that an eligible company invest a minimum of $50,000 in an approved economic development project and create a minimum of five new full-time jobs at the project site. |
Index Headings of Original Version |
Economic Development - KREDA job creation and capital requirement for an eligible company Small Business - KREDA job creation and capital requirement for an eligible company |
Proposed Amendments |
Senate Committee Substitute 1 Senate Floor Amendment 1 |
Votes | Vote History |
12/14/07 |
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01/08/08 |
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02/26/08 |
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02/27/08 |
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02/28/08 |
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03/04/08 |
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03/05/08 |
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03/11/08 |
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03/18/08 |
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03/20/08 |
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03/21/08 |
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03/25/08 |
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Amendment | Senate Committee Substitute 1 |
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Summary | Amend various sections of KRS Chapter 154 pertaining to the Kentucky Rural Economic Development Act to allow companies to qualify if the economic development project involves a minimum investment of $50,000 and results in a minimum of five new full-time jobs at the project site; amend various sections of the Kentucky Industrial Development Act, the Kentucky Jobs Development Act, and the Kentucky Economic Opportunity Zone Act to allow companies to qualify if they hire a minimum of five new full-time employees and pay a base hourly wage of 150 percent of the average hourly wage for the county in which the project is undertaken and provide employee benefits equal to at least 15 percent of the applicable base hourly wage; amend various sections of KRS Chapter 141 to require that interest shall not be allowed or paid on any refund or credit made under the provisions Subchapters 22, 23, 24, and 28 of KRS Chapter 154 |
Index Headings |
Economic Development - KREDA job creation and capital requirement for an eligible company Small Business - KREDA job creation and capital requirement for an eligible company |
Amendment | Senate Floor Amendment 1 |
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Sponsor | R. Sanders Jr |
Summary | Retain original provisions for the Kentucky Rural Economic Development program; amend various sections of KRS Chapter 154 to change the minimum number of new employees to be hired at the project site to five, and the base hourly wages to be paid to 150% of the federal minimum wage, in the Economic Opportunity Zone program, the Jobs Development program, and the New Industry Development program. |
Index Headings |
Economic Development - KREDA job creation and capital requirement for an eligible company Small Business - KREDA job creation and capital requirement for an eligible company |
Last updated: 8/28/2019 8:09 AM (EDT)