12RS House Bill 426

House Bill 426

Actions

Last Action	to Appropriations & Revenue (H)
Title	AN ACT relating to distribution of coal severance tax receipts, making an appropriation therefor and declaring an emergency.
Bill Documents	Bill
Impact Statements	Local Mandate
Bill Request Number	498
Sponsors	R. Nelson, F. Steele
Summary of Original Version	Amend KRS 42.450 to set forth distribution requirements from the local government economic assistance fund; amend KRS 42.455 to delete provisions relating to the coal haul road system under the local government economic assistance program; amend KRS 42. 4582 to revise the distribution formula for funds from the local government economic development fund; amend KRS 42.4595, 42.460, 42.409, 91A.040, 154.12-2086, 11A.233, 65.920, 154.22-040, 154.32-050, 154.12-225, and 154.12-224, to conform; amend 154.47-035, 154.47-040, and 154.47-070 to remove references to funding from the local government coal severance funds; amend KRS 164.7980 and 164.7891 to conform, and to remove provisions requiring a transfer of funds from local government coal severance funds; amend KRS 342.122 to delete transfer of funds from the local government economic assistance program to the Kentucky Workers' Compensation Funding Commission; repeal KRS 42.4585, 42.4586, 42.4588, 42.4592, 42.465, 42.470, 42.472, 42.475, 42.480, 42.485, 42.490, 42,495, and 48.112; provide that outstanding debt previously paid from local government coal severance funds will be paid out of the general fund portion of coal severance receipts until paid; provide that the act will be effective July 1, 2012; EMERGENCY.
Index Headings of Original Version	Local Mandate - Local government programs, amend distribution formula Local Government - Severance tax programs, amend distribution formula Taxation, Severance - Local government programs, amend distribution formula Budget and Financial Administration - Debt service on severance tax projects, amend funding source Coal - Local government coal severance tax program, amend distribution formula Counties - local government severance tax program, amend distribution formula Economic Development - Secondary wood products program, delete coal severance funding Education, Higher - Osteopathic scholarship program. delete severance tax funding Education, Higher - Pharmacy scholarship program, delete severance tax funding Effective Dates, Emergency - Severance tax and local government programs, distribution formula

02/21/12	introduced in House
02/22/12	to Appropriations & Revenue (H)