00RS HB955

HB955

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HB 955 (BR 2329) - H. Anderson

     AN ACT relating to incentives for the development of coal-fired electric generation.
     Create a new section of KRS Chapter 132 to exempt tangible personal property used in generating electricity if the fuel source is coal from state and local ad valorem taxes for ten years; amend KRS 132.190 to allow the tax on personal property to be exempted by statute as well as by Constitution; amend KRS 154.22-010 to add a definition for electric generation; include construction of an electric generation facility under the definition for economic development and specify that the facility must provide at least 153 jobs at wages which are 200% above the federal poverty guidelines for a family of four, the employer pays at least 80% of the insurance, and the facility burns 100% Kentucky coal; include electric generation under the definition for eligible company; amend KRS 154.22-020 and 154.28-015 to include electric generation facilities in the type of entities listed that the General Assembly would like to locate in qualified counties; amend KRS 154.22-040 to certify every coal producing county as a qualified county when reviewing projects that involve new construction of electric generation facilities and define coal producing county; make changes to conform; amend KRS 154.28-010 to include a definition for electric generation and make conforming changes to subsection numbering; include construction of an electric generation plant in a coal producing county in the definition of economic development projects; specify that the facility must provide at least 153 jobs at wages which are 200% above the federal poverty guidelines for a family of four, the employer pays at least 80% of the insurance, and the facility burns 100% Kentucky coal; define coal producing county; amend KRS 154.28-080 to make changes to conform; amend KRS 154.28-120 to make conforming changes to subsection numbering; amend KRS 139.170 to include machinery and equipment used in the generation of electricity in the definition of machinery for new and expanded industry for the purposes of sales tax exemption.

     Feb 29-introduced in House
     Mar 1-to Tourism Development and Energy (H)


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