AN ACT relating to economic development.
     Amend KRS 42.4588 to authorize the executive director of the Office of Coal County Development, rather than the secretary of the Cabinet for Economic Development to approve industrial development projects and allow certain reimbursement to regional industrial development authorities; amend KRS 141.310 and 141.350 to conform with proposed amendments to KRS 154.24-110; amend KRS 141.405 to allow S Corporations and partnerships to pass through skills training investment tax credit to shareholders and partners; amend KRS 154.12-204 and 154.12-207 to allow business and industry to apply directly to BSSC for grants-in-aid, in limited situations where in-house trainers or consultants are used to train workers; amend KRS 154.12-2086 to clarify tax procedures related to BSSC and to allow the Revenue Cabinet to submit annual aggregate reports rather than individual company reports; amend various sections of subchapter 20 of KRS Chapter 154 to change the language of "certification" to "approval", and to allow beneficiaries to withdraw an investment without penalty in the event of the death of an individual investor, and to pass through tax benefits to successors of all types of investors; amend KRS 154.22-050 to add some of the language taken from KRS 154.22-055; amend KRS 154.22-060 to allow the Revenue Cabinet to report aggregate income tax credit and wage assessment information to the Cabinet for Economic Development, rather than individual company data, and to require the Revenue Cabinet to notify the Cabinet for Economic Development when an approved company has taken credits equal to the amount approved; amend KRS 154.24-110 to require the Commonwealth to contribute 4% of employees' gross wages as a service and technology job creation assessment fee, in communities that assess less than the 1% local occupational license fee and who agree to forego the entire license fee as an assessment to an approved company, and amend KRS 154.24-150 to allow for this change in calculating the assessment fee; amend KRS 154.26-110 and 154.28-090 to require aggregate reporting by the Revenue Cabinet for the KIRA and KIDA programs; amend KRS 154.29-050 to require an approved company in the Tourism Development Act program to file its report for sales a tax refund on an annual basis, instead of a semi-annual basis; repeal KRS 154.22-055; cross-reference separate reorganization bill 99-2; make Section 4 (4) and (5), and Section 7 applicable to tax years beginning after December 31, 1999.

     Jan 18-introduced in House
     Jan 19-to Economic Development (H)
     Jan 25-posting waived
     Jan 27-reported favorably, 1st reading, to Calendar with committee amendment (1)
     Jan 28-2nd reading, to Rules
     Feb 2-posted for passage in the Regular Orders of the Day for Thursday, February 3, 2000
     Feb 9-floor amendment (1) filed
     Feb 10-floor amendment (2) filed
     Feb 14-floor amendment (3) filed
     Feb 23-3rd reading, passed 98-0 with floor amendment (3)
     Feb 24-received in Senate
     Feb 28-to Economic Development, Tourism & Labor (S)
     Mar 20-reported favorably, 1st reading, to Consent Calendar
     Mar 21-2nd reading, to Rules
     Mar 22-posted for passage in the Consent Orders of the Day for Thursday, March 23, 2000
     Mar 23-3rd reading, passed 38-0
     Mar 24-received in House; enrolled, signed by each presiding officer, delivered to Governor
     Apr 3-signed by Governor (Acts ch. 300)