House Bill 557

Actions | Amendments
Last Action signed by Governor (Acts, ch. 199)
Title AN ACT relating to economic development.
Bill Documents Current/Final
Introduced
Impact Statements Fiscal Note
Bill Request Number 1106
Sponsor J. Petrie
Summary of Original Version Amend KRS 56.440 to define "headquarters," "nonretail service and technology project," and "nonretail service and technology entity"; amend KRS 56.510, relating to state lands and buildings to expand eligible projects from industrial projects to include headquarters and nonretail service and technology projects; include eligibility requirements to create a new section of KRS Chapter 141 to define how skills training credits may be applied to income tax obligations; amend KRS 144.0205 to conform; amend KRS 148.546 and 148.8591 to allow online reporting from Tourism, Arts and Heritage to the LRC in lieu of a physical report; amend KRS 154.10-050 to remove requirement that cabinet secretary create and submit an annual strategic plan for economic development; create a new section of KRS 154.12-2084 to 154.12-2089 to sunset current investment credits; amend KRS 154.12-100 to change reporting requirements and include posting of annual report required by KRS 154.12-2035; amend KRS 154.12-204 to include new definitions relating to the skills training investment credit; amend KRS 154.12-205 to substitute the phrase "qualified company" for "business and industry"; amend KRS 154.12-206 to substitute the phrase "approved companies" for "business and industry"; amend KRS 154.12-207 to provide additional details about skills training investment and grant-in-aid credit qualifications; amend KRS 154.12-208 to allow the Bluegrass State Skills Corporation to submit annual report on the cabinet's Web page instead of via paper to LRC; amend KRS 154.12-278 to allow reporting obligations of Kentucky Innovation Act on the cabinet Web page instead of paper copy to the Governor and LRC; amend KRS 154.12-310 to remove satellite offices and specify the number of affiliate centers; amend KRS 154.12-2035 to allow posting of annual report to the cabinet's Web page instead of a physical copy to the Governor and LRC; rename the small business investment credit as the Kentucky small business tax credit; amend KRS 154.20-150 to allow annual reporting by Web page instead of by physical copy to the Governor and LRC; amend KRS 154.20-170 to remove reference to targeted industrial sector; amend KRS 154.20-230 to change definition of "qualified activity"; amend KRS 154.20-234 to change elements of qualified investment and authorize promulgation of administrative regulations; amend KRS 154.20-238 to increase allowable time for investment; amend KRS 154.27-050 to allow posting of annual report to the cabinet Web site instead of submitting it to the Governor and LRC; amend KRS 154.30-010 to change investment criteria and refine definitions; create a new section of Subchapter 27 of KRS Chapter 154 to sunset incentives allowed by KRS 154.27-010 to KRS 154.27-100; amend KRS 154.30-070 to alter requirements of tax incentive agreement; amend KRS 154.30-080 to allow cancellation of tax incentive agreements and add definitions; amend KRS 154.31-030 to allow annual reporting by post to the cabinet Web page; amend KRS 154.32-010 to include new definitions; amend KRS 154.32-020 to expand the list of companies eligible for incentives; amend KRS 154.60-010 and KRS 154.60-020 to replace term "Division of Small Business" with "Office of Entrepreneurship"; amend KRS 154.60-020 to extend time period for credit-related activity; repeal KRS 141.430 relating to income tax credit calculations; repeal KRS 154.10-100 relating to information transfer network; repeal KRS 154.10-120 relating to preparation of the strategic plan for economic development; repeal KRS 154.10-125 relating to content of the strategic economic development plan; repeal KRS 154.10-140 relating to performance benchmarks; repeal KRS 154.30-052 relating to signature project loan program requirements; repeal KRS 154.48-010 containing definitions for KRS 154.48-010 to 154.48-035; repeal KRS 154.48-015 expressing the findings of the General Assembly; repeal KRS154.48-020 relating to administrative regulations and open meetings; repeal KRS 154.48-025 to 154.48-030, and 154.48.035 establishing the Kentucky Environmental Stewardship Act; repeal KRS 224.01-020 relating to the funding for cleaning agricultural warehousing sites.
Index Headings of Original Version Fiscal Note - Tax credits, economic development programs, modifying provisions of
Economic Development - Environmental Stewardship Act, repeal
Economic Development - Kentucky Angel Investment Act, modifying provisions
Economic Development - Skills Training Investment Credit Act, modifying provisions of
Small Business - Tax credits, economic developments programs, modifying provisions
Taxation - Income tax credits, economic development programs, modifying provisions of
Taxation, Income--Corporate - Tax credits, economic development programs, modifying provisions of
Taxation, Income--Individual - Tax credits, economic development programs, modifying provisions of
Proposed Amendments Senate Floor Amendment 1
Senate Floor Amendment 2
Votes Vote History

Actions

Top | Amendments
02/27/18
  • introduced in House
03/01/18
  • to Economic Development & Workforce Investment (H)
03/05/18
  • posted in committee
03/08/18
  • reported favorably, 1st reading, to Calendar
03/09/18
  • 2nd reading, to Rules
03/13/18
  • posted for passage in the Regular Orders of the Day for Wednesday, March 14, 2018
03/20/18
  • 3rd reading, passed 58-38
03/21/18
  • received in Senate
03/22/18
  • to Economic Development, Tourism, and Labor (S)
03/27/18
  • reported favorably, 1st reading, to Consent Calendar
03/29/18
  • 2nd reading, to Rules
04/13/18
  • posted for passage in the Consent Orders of the Day for Saturday, April 14, 2018
04/14/18
  • 3rd reading, passed 38-0
  • floor amendment (1) and (2-title) filed
  • received in House
  • enrolled, signed by Speaker of the House
  • enrolled, signed by President of the Senate
  • delivered to Governor
04/26/18
  • signed by Governor (Acts, ch. 199)

Proposed Amendments

Top | Actions
Amendment Senate Floor Amendment 1
Sponsor J. Carroll
Summary Retain original provisions; repeal and reenact all sections of SB 151 as enacted at the 2018 Regular Session of the General Assembly (2018 Ky. Acts ch. 107) amending KRS Chapters 6, 7A, 11A, 16, 18A, 21, 61, 78, and 161; repeal all sections of SB 151 as enacted at the 2018 Regular Session of the General Assembly creating new sections of KRS 61.510 to 61.705 and 161.220 to 161.716; provide that SB 151 as enacted at the 2018 Regular Session of the General Assembly is repealed in its entirety and shall have no effect on the laws of the Commonwealth of Kentucky; direct the reviser of statutes that the provisions of this Act shall prevail over SB 151 as enacted at the 2018 Regular Session of the General Assembly, and no part of SB 151 shall be codified in the Kentucky Revised Statutes.
Index Headings Fiscal Note - Tax credits, economic development programs, modifying provisions of
Economic Development - Environmental Stewardship Act, repeal
Economic Development - Kentucky Angel Investment Act, modifying provisions
Economic Development - Skills Training Investment Credit Act, modifying provisions of
Small Business - Tax credits, economic developments programs, modifying provisions
Taxation - Income tax credits, economic development programs, modifying provisions of
Taxation, Income--Corporate - Tax credits, economic development programs, modifying provisions of
Taxation, Income--Individual - Tax credits, economic development programs, modifying provisions of

Amendment Senate Floor Amendment 2
Sponsor J. Carroll
Summary Make title amendment.
Index Headings Fiscal Note - Tax credits, economic development programs, modifying provisions of
Economic Development - Environmental Stewardship Act, repeal
Economic Development - Kentucky Angel Investment Act, modifying provisions
Economic Development - Skills Training Investment Credit Act, modifying provisions of
Small Business - Tax credits, economic developments programs, modifying provisions
Taxation - Income tax credits, economic development programs, modifying provisions of
Taxation, Income--Corporate - Tax credits, economic development programs, modifying provisions of
Taxation, Income--Individual - Tax credits, economic development programs, modifying provisions of

Last updated: 1/16/2019 3:00 PM (EST)