|01/10/19: to Economic Development & Workforce Investment (H)
|AN ACT relating to economic development incentives.
|Bill Request Number
|J. Donohue, G. Brown Jr.
|Summary of Original Version
|Amend KRS 154.32.010 to define" minimum weekly wage"; amend KRS 154.32-020 to require an approved company to pay all new full-time employees whose jobs were created as a result of the economic development project no less than the minimum weekly wage and provide employee benefits for those jobs equal to at least 15% of the minimum weekly wage established by the agreement; amend KRS 154.32-030 to delete all provisions that allow the approved company to receive full incentives if 90% of the job and wage requirements are met upon activation or annual review; amend KRS 154.32-040 to delete a provision that would allow the approved company to receive a reduction in tax incentives for failing to meet job and wage requirements; specify that Act's provisions apply to applications preliminarily approved prior to the Act's effective date.
|Index Headings of Original Version
Economic Development - KBI program, minimum weekly wage, requirement for
Taxation - KBI program, minimum weekly wage, requirement for
Taxation, Income--Corporate - KBI program, minimum weekly wage, requirement for
Taxation, Income--Individual - KBI program, minimum weekly wage, requirement for
Last updated: 11/9/2023 3:08 PM (EST)