| Last Action | to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to TVA in-lieu-of-tax payments and making an appropriation therefor. |
| Bill Documents |
Bill
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| Impact Statements | Local Mandate |
| Bill Request Number | 1308 |
| Sponsors | W. Stone, B. Rowland, J. Bell, K. Imes, M. King, S. Rudy, J. Tilley |
| Summary of Original Version | Amend KRS 96.895 to provide that, beginning in fiscal year 2014-2015, a portion of the Tennessee Valley Authority in-lieu-of-tax payment made to the Commonwealth and deposited into the general fund shall be transferred to the regional development agency assistance fund to be distributed among fiscal court-designated local industrial development authorities for economic development and job creation activities; provide that the transfer will not affect the portion of the total TVA payment that is currently distributed among local government entities; provide that these transfers will be phased-in over a five-year period, with an amount equal to 50 percent of the general fund portion of the total TVA annual payment being transferred in fiscal year 2018-2019, and each fiscal year thereafter, not to exceed $6,000,000 each year. |
| Index Headings of Original Version |
Economic Development - TVA in-lieu-of-tax payments, direction to economic development activities Labor and Industry - TVA in-lieu-of-tax payments, direction to economic development activities Local Government - TVA in-lieu-of-tax payments, direction to economic development activities Taxation - TVA in-lieu-of-tax payments, direction to economic development activities Taxation, Property - TVA in-lieu-of-tax payments, direction to economic development activities Appropriations - TVA in-lieu-of-tax payments, direction to economic development activities Counties - TVA in-lieu-of-tax payments, direction to economic development activities Local Mandate - TVA in-lieu-of-tax payments, direction to economic development activities |
| 02/12/13 |
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| 02/13/13 |
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Last updated: 8/27/2019 7:53 PM (EDT)