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HB 422/FN (BR 1478) - H. Moberly Jr, Ji. Lee, D. Keene, S. Nunn, R. Palumbo, D. Pasley, J. Richards, R. Wilkey
AN ACT relating to economic development.
Create new sections of Subtitle 20 of KRS Chapter 154 to establish a small business grant program to match Phase I grants from the federal Small Business Innovation and Research Program and Small Business Technology Transfer Program; have program administered by the Department of Commercialization and Innovation for a Knowledge Based Economy, under authority of the Kentucky Economic Development Finance Authority; allow match grants of up to $100,000; provide application procedures; require business to be located in Kentucky; require grant to benefit Kentucky economy to be eligible; require grant recipient to report and account for expenditures; allow Kentucky Economic Development Finance Authority to create a Phase II match grant program on similar terms and conditions.
HB 422 - AMENDMENTS
SCS (1) - Retain original provisions; create a new section of KRS 65.680 to 65.699 to permit limited state participation in certain local tax increment financing arrangements; amend KRS 65.680 to include housing authorities and community redevelopment authorities as agencies eligible to be involved in a tax increment financing district; amend KRS 65.682 to encourage development by private enterprise; create a new section of KRS 65.680 to 65.699 to permit a city or county which participates in a planning unit and meets specified conditions to establish a development area for community redevelopment; create a new section of KRS 65.680 to 65.699 to establish various requirements on participating local governments; create a new section of KRS 65.680 to 65.699 to establish additional requirements relative to planning and zoning and to specify the membership and other requirements for board members, administration, employees or members; create a new section of KRS 65.680 to 65.699 to provide for service payment agreements; amend KRS 132.012 to conform; amend KRS 148.851, 148.855, and 139.536 to allow a "destination retail attraction" to receive the tourism sales tax credit; amend KRS 148.859 to revise requirements for various tourism development projects; .amend KRS 68.645, 132.010, and 132.027 to clarify the treatment of property subject to a local tax increment financing project relating to the provisions of House Bill 44; amend KRS 154.24-090 to allow an eligible company that locates a project adjoining a regional postsecondary education center to alternatively satisfy wage and benefits requirements and to require that the company compensate a minimum of 90 percent of full-time employees whose jobs were created as a result of the project with base hourly wages plus employee benefits equal to or greater than 200 percent of the federal minimum wage; amend KRS 132.200 and KRS 139.480 to exempt personal aircraft from local taxation and from the sales and use tax; amend KRS 65.490 and 65.493 to expand use of urban renewal agencies to cities of the second class and urban-county governments; amend KRS 45.3511 to allow a county that contains no incorporated area to submit two block grant applications per year, one as a county, and one as a city; create a new section of KRS Chapter 139 to allow a sales tax exemption for certain coal-based power plants; amend KRS 103.200 and 103.2101 to expand availability of revenue bonds for city or county projects; provide grandfathering provisions for projects under prior law; provide effective dates.
SCS (2) - Retain original provisions; create a new section of KRS 65.680 to 65.699 to permit limited state participation in certain local tax increment financing arrangements; amend KRS 65.680 to include housing authorities and community redevelopment authorities as agencies eligible to be involved in a tax increment financing district; amend KRS 65.682 to encourage development by private enterprise; create a new section of KRS 65.680 to 65.699 to permit a city or county which participates in a planning unit and meets specified conditions to establish a development area for community redevelopment; create a new section of KRS 65.680 to 65.699 to establish various requirements on participating local governments; create a new section of KRS 65.680 to 65.699 to establish additional requirements relative to planning and zoning and to specify the membership and other requirements for board members, administration, employees or members; create a new section of KRS 65.680 to 65.699 to provide for service payment agreements; amend KRS 132.012 to conform; create a new section of KRS 148.350 to 148.860 and amend KRS 139.536 to allow a "destination retail attraction" to receive the tourism attraction sales tax refund if the project receives final approval on or before June 30, 2008; amend KRS 148.859 to revise requirements for various tourism development projects; amend KRS 68.645, 132.010, and 132.027 to clarify the treatment of property subject to a local tax increment financing project relating to the provisions of House Bill 44; amend KRS 154.24-090 to allow an eligible company that locates a project adjoining a regional postsecondary education center and receives approval from the KEDFA prior to July 1, 2008 to alternatively satisfy wage and benefits requirements and to require that the company compensate a minimum of 90 percent of full-time employees whose jobs were created as a result of the project with base hourly wages plus employee benefits equal to or greater than 200 percent of the federal minimum wage; amend KRS 132.200 and KRS 139.480 to exempt personal aircraft from local taxation and from the sales and use tax; amend KRS 65.490 and 65.493 to expand use of urban renewal agencies to cities of the second class and urban-county governments; amend KRS 45.3511 to allow a county that contains no incorporated area to submit two block grant applications per year, one as a county, and one as a city; create a new section of KRS Chapter 139 to allow a sales tax exemption for certain coal-based power plants; amend KRS 103.200 and 103.2101 to expand availability of revenue bonds for city or county projects; provide grandfathering provisions for projects under prior law; provide effective dates.
SCA (1/Title, C. Borders) - Make title amendment.
Jan 19-introduced in House
Jan 20-to Economic Development (H)
Jan 25-posted in committee
Feb 8-reported favorably, 1st reading, to Calendar
Feb 9-2nd reading, to Rules
Feb 13-recommitted to Appropriations and Revenue (H)
Mar 1-posted in committee
Mar 7-reported favorably, to Rules
Mar 8-posted for passage in the Regular Orders of the Day for Thursday, March 9, 2006
Mar 9-3rd reading, passed 95-0
Mar 10-received in Senate
Mar 14-to Appropriations and Revenue (S)
Mar 22-taken from committee; 1st reading, to Calendar
Mar 23-2nd reading; returned to Appropriations and Revenue (S)
Mar 24-reported favorably, to Rules with Committee Substitute, committee amendment (1-title) ; posted for passage in the Regular Orders of the Day for Friday, March 24, 2006; 3rd reading, passed with Committee Substitute, committee amendment (1-title)
Apr 10-bill reconsidered (change PASSED status); returned to Appropriations and Revenue (S); reported favorably, to Rules with Committee Substitute (2) ; posted for passage in the Regular Orders of the Day for Monday, April 10, 2006; 3rd reading; Committee Substitute withdrawn; passed 32-4-1 with Committee Substitute (2), committee amendment (1-title)
Apr 11-received in House; posted for passage for concurrence in Senate Committee Substitute (2), committee amendment (1-title)
Vote History
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