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SB 1/LM (BR 10) - R. Stivers II, R. Jones II, W. Blevins Jr, C. Borders, D. Boswell, D. Harper Angel, E. Harris, T. Jensen, V. McGaha, J. Pendleton, J. Rhoads, D. Ridley, D. Roeding, K. Stine, D. Thayer, J. Turner, J. Westwood

AN ACT relating to energy independence and making an appropriation therefor.
Create a new sections of KRS Chapter 152 to define terms, set forth the requirements for and incentives under the Incentives for Energy Independence Act, provide for an agreement between the Kentucky Energy Development Authority and an approved company. and set forth the incentives available, provide for tax increment financing from state income taxes and the limited liability entity tax; create a new section of KRS Chapter 139 to provide for the Incentives for Energy Independence Act sales tax incentive; create a new section of KRS Chapter 143 to provide for the Incentives for Energy Independence Act severance tax incentive; amend KRS 42.4582, 42.4585 and 141.0405 to conform; create a new section of KRS Chapter 139 to provide a sales and use tax exemption for purchases made for machinery or equipment that reduces the consumption of energy or energy producing fuels by at least 15%; amend KRS 141.422 to add definitions to increase the biodiesel credit cap, add new credits for the production of ethanol and cellulosic ethanol and set credit caps for each; amend KRS 141.423 to delete the biodiesel credit for blending biodiesel; create a new section of KRS 142.422 to 142.425 to provide how credits shall be applied; amend KRS 141.0205 to conform; amend KRS 141.428 to make a technical correction; amend KRS 56.770 to add definitions; amend KRS 56.776 to conform; create a new section of KRS 56.770 to 56. 784 to encourage the Finance and Administration Cabinet to employ energy saving strategies; amend KRS 56.784 to require energy audits; amend KRS 65.782 to require reporting; create a new section of KRS Chapter 45A to require a strategy to use alternative fuel vehicles in the state fleet, and to require reporting about the strategy; amend KRS 12.020 to remove the Governor's Office of Energy Policy and the Energy Policy Advisory Council from the Commerce Cabinet; amend KRS 12.023 to add the Governor's Office of Energy Policy to the units attached to the Office of the Governor; create a new Section of KRS 152.710 to 152.725 establishing the Governor's Office of Energy Policy; amend KRS 152.715 and 152.720 to conform; repeal 56.790 and reenact and renumber its provisions and a new section of KRS 152.710 to 152.725; create a new section of KRS 152.710 to 152.725 to allow for expenditures on identified properties if funds are available; amend KRS 224.10-100 and 224.10-103 to conform; create a new section of KRS Chapter 164.740 to 164.7891 to establish an engineering scholarship program and provide criteria for qualification; and repeal KRS 152.755, 152.760, 152.762, 152.765, 152.770, 152.775, 152.780, and 152.785.

SB 1 - AMENDMENTS

     SCS/LM - Create new sections of KRS Chapter 152 to define terms, set forth the requirements for and incentives under the Incentives for Energy Independence Act, provide for an agreement between the Kentucky Energy Development Authority and an approved company, and set forth the incentives available, and provide for tax increment financing from state income taxes and the limited liability entity tax; create a new section of KRS Chapter 139 to provide for the Incentives for Energy Independence Act sales tax incentive; create a new section of KRS Chapter 143 to provide for the Incentives for Energy Independence Act severance tax incentive; amend KRS 42.4582, 42.4585, and 141.0405 to conform; create a new section of KRS Chapter 139 to provide a sales and use tax exemption for purchases made for machinery or equipment that reduces the consumption of energy or energy-producing fuels by at least 15 percent; amend KRS 141.422 to add definitions to increase the biodiesel credit cap, add new credit for the production of ethanol, and cellulosic ethanol and set credit cap; amend KRS 141.423 to provide a biodiesel credit for each gallon produced and each gallon blended; create a new section of KRS 142.422 to 142.425 to provide how the ethanol and cellulosic ethanol credit shall be applied; amend KRS 141.0205 to conform; amend KRS 141.428 to make a technical correction; amend KRS 56.770 to add definitions; amend KRS 56.776 to conform; create a new section of KRS 56.770 to 56.784 to encourage the Finance and Administration Cabinet to employ energy saving strategies; amend KRS 56.784 to require energy audits; amend KRS 65.782 to require reporting; create a new section of KRS Chapter 45A to require a strategy to use alternative fuel vehicles in the state fleet and to require reporting about the strategy; amend KRS 12.020 to remove the Governor's Office of Energy Policy and the Energy Policy Advisory Council from the Commerce Cabinet; amend KRS 12.023 to add the Governor's Office of Energy Policy to the units attached to the Office of the Governor; create a new Section of KRS 152.710 to 152.725 establishing the Governor's Office of Energy Policy; amend KRS 152.715 and 152.720 to conform; repeal KRS 56.790 and reenact and renumber its provisions and a new section of KRS 152.710 to 152.725; create a new section of KRS 152.710 to 152.725 to allow for expenditures for preliminary assessments related to identified properties if funds are available; amend KRS 224.10-100 and 224.10-103 to conform; create a new section of KRS 164.740 to 164.7891 to establish an engineering and pre-engineering scholarship program and provide criteria for qualification; repeal KRS 152.750, 152.755, 152.760, 152.762, 152.765, 152.770, 152.775, 152.780, and 152.785; and transfer $5,000,000 in fiscal year 2007-2008 from Local Government Economic Development Fund, Multi-county Fund, and appropriate to the Governor's Office of Energy Policy for the purpose of funding research by the Kentucky Geological Survey on enhanced oil recovery and carbon dioxide sequestration potential.

     SCA (1/Title, T. Jensen) - Make title amendment.

     SCA (2, V. McGaha) - Make technical corrections to provisions relating to biodiesel, ethanol, and cellulosic ethanol income tax credits; declare an EMERGENCY.

     SCA (3/Title, V. McGaha) - Make title amendment.

     Jul 5-introduced in Senate; taken from Committee on Committees; 1st reading; returned to Committee on Committees (S); to Agriculture & Natural Resources (S)
     Jul 6-taken from committee; 2nd reading; returned to Agriculture & Natural Resources (S)
     Jul 9-reported favorably, to Rules with Committee Substitute, committee amendment (1-title) ; taken from Rules Committee; returned to Agriculture & Natural Resources (S); reported favorably with committee amendments (2) and (3-title) ; posted for passage in the Regular Orders of the Day for Monday, July 9, 2007; 3rd reading; committee amendment (1-title) withdrawn ; passed 34-1 with Committee Substitute, committee amendments (2) and (3-title)

Vote History

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