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House Bill 431

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Last Action 02/20/19: to Appropriations & Revenue (H)
Title AN ACT relating to economic development tax credits and declaring an emergency.
Bill Documents Introduced
Fiscal Impact Statement Local Mandate
Bill Request Number 993
Sponsor J. Blanton
Summary of Original Version Amend KRS 141.403 to sunset the tax credit; amend KRS 141.415 to remove references and application to the Kentucky Reinvestment Act projects; create a new section of KRS Chapter 141 to provide for the Kentucky Reinvestment Act tax credit and require reporting by the Department of Revenue; create a new section in Subchapter 26 of KRS Chapter 154 to sunset the program; amend KRS 154.34-010 to modify the definitions; amend KRS 154.34-070 to add a three-year project completion timeframe for final approval and alter the requirements to the application; amend KRS 154.34-080 to remove the reference to eligible skills upgrade training costs; amend KRS 154.34-090 to conform; amend KRS 154.34-110 to alter the criteria of the program and require reporting of the Cabinet for Economic Development; amend KRS 154.34-120 to sunset the program; create new sections of Subchapter 34 of KRS Chapter 154 to provide wage assessments; amend KRS 141.0205 to order the new tax credit; amend KRS 131.190 to allow the Department of Revenue to submit the report to the General Assembly; EMERGENCY.
Index Headings of Original Version Economic Development - Kentucky Industrial Revitalization Act, sunset of
Economic Development - Kentucky Reinvestment Act, modifying provisions of
Effective Dates, Emergency - Tax credits, economic development programs, modifying provisions of
Small Business - Tax credits, economic development programs, modifying provisions of
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
Local Mandate - Tax credits, economic development programs, modifying provisions of

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02/19/19
  • introduced in House
02/20/19
  • to Appropriations & Revenue (H)


Last updated: 11/9/2023 3:08 PM (EST)