Last Action | to Appropriations & Revenue (H) |
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Title | AN ACT relating to TVA in-lieu-of-tax payments and making an appropriation therefor. |
Bill Documents |
Bill
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Bill Request Number | 236 |
Sponsors | W. Stone, B. Rowland, K. Imes, M. King, J. Richards |
Summary of Original Version | Amend KRS 96.895 to provide that, beginning in fiscal year 2016-2017, a portion of the Tennessee Valley Authority (TVA) 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 transfers 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 2020-2021, and each fiscal year thereafter, not to exceed $6,000,000 each year; APPROPRIATION. |
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 |
10/10/14 |
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11/12/14 |
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01/06/15 |
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Last updated: 1/16/2019 3:10 PM (EST)