Kentucky
General Assembly

01/08/21	introduced in House to Committee on Committees (H)
02/02/21	to Appropriations & Revenue (H)
02/04/21	posted in committee
02/24/21	taken from Appropriations & Revenue (H) 1st reading returned to Appropriations & Revenue (H)
03/01/21	taken from Appropriations & Revenue (H) 2nd reading returned to Appropriations & Revenue (H)
03/02/21	reported favorably, to Rules with Committee Substitute posted for passage in the Regular Orders of the Day for Wednesday, March 3, 2021
03/03/21	floor amendment (1) filed to Committee Substitute 3rd reading, passed 82-15 with Committee Substitute and floor amendment (1)
03/04/21	received in Senate to Committee on Committees (S)
03/05/21	to Natural Resources & Energy (S) taken from Natural Resources & Energy (S) 1st reading returned to Natural Resources & Energy (S)
03/11/21	reported favorably, 2nd reading, to Rules floor amendments (1), (2-title) and (3) filed
03/12/21	posted for passage in the Regular Orders of the Day for Monday, March 15, 2021
03/15/21	floor amendments (4-title) and (5) filed floor amendments (6) and (7-title) filed 3rd reading floor amendments (1) (2-title) and (3) withdrawn passed 29-7 received in House
03/16/21	enrolled, signed by Speaker of the House enrolled, signed by President of the Senate delivered to Governor
03/25/21	signed by Governor (Acts Ch. 122)

Amendment	House Committee Substitute 1
Fiscal Impact Statement	Fiscal Note to House Committee Substitute 1
Summary	Retain original provisions; limit the sales and use tax exemption to electricity used in the commecial mining of cryptocurrency; sunset exemptions June 30, 2030; EFFECTIVE July 1, 2021.
Index Headings	Effective Dates, Delayed - Tax exemption, effective July 1, 2021 Energy - Sales and use tax, exemption for commercial mining of cryptocurrency Energy - Utilities gross receipts and license tax, exemption for commercial mining of cryptocurrency Taxation - Sales and Use, commercial mining of cryptocurrency facility, exemption Taxation, Sales and Use - Commercial mining of cryptocurrency, exemption Reports Mandated - Department of Revenue, exemption totals Technology - Sales and use tax, commercial mining of cryptocurrency, exemption Technology - Utilities gross receipts and license tax, exemption for commercial mining of cryptocurrency Sunset Legislation - Begins July 1, 2021 and sunsets June 30, 2030 Fiscal Note - Sales and use tax, exemption for commercial mining of cryptocurrency

Amendment	House Floor Amendment 1
Sponsor	S. Rudy
Summary	Retain original provisions; amend the definition of "colocation facility."
Index Headings	Taxation - Sales and use tax, colocation facility definition Taxation, Sales and Use - Colocation facility definition

Amendment	Senate Floor Amendment 1
Sponsor	B. Smith
Summary	Retain original language; amend KRS 154.27-010 to define additional terms; amend KRS 154.27-020 to change the name of the program to "Incentives for Energy-related Business" and include cryptocurrency facilities with a minimum capital investment of one million dollars; and amend KRS 154.27-030, KRS 154.27-095,154.12-2035, and 353.804 to conform; EFFECTIVE July 1, 2021.
Index Headings	Economic Development - Incentive for Energy Independence Act, new name Effective Dates, Delayed - Incentive for Energy Independence Act, new name, July 1, 2021 Taxation - Incentives for Energy Independence Act, new name, cryptocurrency facilities

Amendment	Senate Floor Amendment 2
Sponsor	D. Givens
Summary	Make title amendment.
Index Headings	Title Amendments - HB 230/GA

Amendment	Senate Floor Amendment 3
Sponsor	D. Givens
Summary	Retain original provisions; amend KRS 12.020 to rename an office and a commission associated with the Cabinet for Economic Development; amend various KRS Chapter and sections to conform; amend KRS 65.7047 to require the city or county to engage a qualified independent outside consultant prior to entering a local tax increment financing agreement; amend KRS 141.403 to sunset the income tax credit related to the Kentucky Industrial Revitalization Act; amend KRS 154.12-204 to coordinate the definitions related to the Bluegrass State Skills grant in aid and training tax credit with the definitions in other economic development programs; amend KRS 154.12-206 and 154.12-207 to modify the delivery of skills training and increase the tax credit thresholds awarded to approved companies; amend KRS 154.12-310 to require a statewide network of Kentucky innovation hubs; amend KRS 154.20-230 to allow the certain entities involved in other technological advances to be deemed as engaged in a qualified activity for tax credit purposes; amend KRS 154.20-232 and 154.20-234 to modify the administrative processes for the Kentucky Angel Investment Act; amend various sections in KRS Chapter 154, subchapter 20, to add and modify definitions related to the Kentucky Investment Fund Act, create a new tax credit cap, limit the tax credit to 25% of the investor's proportional ownership share, and make changes to the application and approval process; amend KRS 154.31-010 to add and modify definitions related to the sales and use tax refund related to the Kentucky Investment Act; amend various sections in KRS Chapter 154, subchapter 32, to eliminate, add, and modify definitions related to the Kentucky Business Investment Program, expand the qualifying activities, and eliminate the advance disbursement provisions; amend various sections of KRS Chapter 154, subchapter 34, to add and modify definitions related to the Kentucky Reinvestment Act, require a preliminarily approved company to complete the reinvestment project within 3 years from the date of preliminary approval, limit the amount of incentives allowed in any year to no more than 20% of the total amount of approved costs, and require the company to incur at least $1 million of eligible equipment and related costs for leased projects; amend various sections in KRS Chapter 154, subchapter 35, to add definitions related to the Kentucky Research and Development Infrastructure Fund and modify the duties of the research centers of the University of Louisville; create a new section in KRS Chapter 154, subchapter 26, to sunset the Kentucky Industrial Revitalization Act; amend various sections in KRS Chapter 164 to move the Kentucky Innovation Act and the Kentucky Enterprise Fund to the Cabinet for Economic Development, make conforming changes, increase the amount of grants awarded from the fund, and change administrative processes; transfer all moneys in the Kentucky Rural Innovation Fund and the Kentucky Commercialization Fund on July 1, 2021; amend KRS 141.396 to require the Department of Revenue to submit an annual report on the Angel Investor tax credit; repeal various sections in KRS Chapter 164.
Index Headings	Economic Development - Bluegrass State Skills Economic Development - Kentucky Angel Investment Act Economic Development - Kentucky Business Investment Program Economic Development - Kentucky Enterprise Fund Economic Development - Kentucky Innovation Act Economic Development - Kentucky Investment Fund Act Economic Development - Kentucky Reinvestment Act Taxation - Bluegrass State Skills Taxation - Kentucky Angel Investment Act Taxation - Kentucky Business Investment Program Taxation - Kentucky Investment Fund Act Taxation - Kentucky Reinvestment Act Taxation, Income--Corporate - Economic development tax credits Reports Mandated - Angel investor tax credit, Department of Revenue

Amendment	Senate Floor Amendment 4
Sponsor	G. Neal
Summary	Make title amendment.
Index Headings	Title Amendments - HB 230/GA

Amendment	Senate Floor Amendment 5
Sponsor	G. Neal
Summary	Retain original language, which becomes effective July 1, 2021; create new a section in KRS Chapter 65 to define terms and require a minimum investment be pledged from private sector investors, consolidated local government, and the Commonwealth; and require incremental tax revenues be pledged to the West End Opportunity Partnership from a consolidated local government and the Commonwealth, which is effective only if 2021 Regular Session Bill Request Number 1553 becomes law; APPROPRIATION.
Index Headings	Taxation - West End Opportunity Partnership, incremental tax revenues Taxation, Income--Individual - West End Opportunity Partnership, incremental tax revenues Taxation, Property - West End Opportunity Partnership, incremental tax revenues Taxation, Sales and Use - West End Opportunity Partnership, incremental tax revenues Consolidated Local Governments - West End Opportunity Partnership, incremental tax revenues Appropriations - West End Opportunity Partnership

Amendment	Senate Floor Amendment 6
Sponsor	G. Neal
Summary	Retain original language, which becomes effective July 1, 2021; create new sections of KRS Chapter 136 to establish the growth fund tax credit; amend KRS 131.190 to allow reporting of the tax credit to the Interim Joint Committee on Appropriations and Revenue; establish Subchapter 21 of KRS Chapter 154 and create new sections thereof to establish an application and approval process for investment in growth businesses by a growth fund and verification related to the new tax credit; and provide that Sections 9 to 15 of this Act may be cited as the Kentucky Rural Jobs Act of 2021.
Index Headings	Economic Development - Growth fund program, establishment Taxation - Growth fund tax credit, establishment Taxation - Insurance premiums tax, growth fund tax credit, establishment Reports Mandated - Rural growth fund tax credit and program, Department of Revenue to report on Short Titles and Popular Names - Kentucky Rural and Opportunity Zone Jobs Act

Amendment	Senate Floor Amendment 7
Sponsor	G. Neal
Summary	Make title amendment.
Index Headings	Title Amendments - HB 230/GA