Senate Bill 100

Actions
Last Action 02/23/21: to Committee on Committees (S)
Title AN ACT relating to property in a development area.
Bill Documents Introduced
Fiscal Impact Statement Local Mandate
Bill Request Number 1553
Sponsors R. Stivers, G. Neal, M. McGarvey
Summary of Original Version Create new sections in KRS Chapter 65 to state findings and declaration of the General Assembly for the development area; define terms; establish the West End Opportunity Partnership, its powers and duties and purpose; require the West End Opportunity Partnership to comply with open meetings and open records requirements; require the West End Opportunity Partnership to reimburse real property taxes; establish the board and membership requirements; require a local participation agreement and specify provisions of the agreement; establish requirements pertaining to documentation, records, incremental revenues, and bonds; require reporting of the West End Opportunity Partnership to the Interim Joint Committee on Appropriations and Revenue; establish the West End Louisville Advisory Council and its members and duties; create a new section in KRS Chapter 132 to establish the classification of residential property in a revitalization area; define terms; and prohibit the legislative body of a consolidated local government from levying an ad valorem tax rate on residential property in a revitalization area that is higher than 50 percent of the prevailing rate of other real property located in its jurisdiction; EFFECTIVE only if 2021 Regular Session Bill Request Number 850 becomes law.
Index Headings of Original Version Economic Development - West End Opportunity Partnership, nonvoting ex-officcio board membership
Governor - West End Opportunity Partnership, board membership appointment
Taxation - Property tax, residential property in a revitalization area, fifty percent tax rate limitation
Taxation - West End Opportunity Partnership, incremental tax revenues
Taxation, Income--Individual - West End Opportunity Partnership, incremental tax revenues
Taxation, Property - Residential property in a revitalization area, fifty percent tax rate limitation
Taxation, Property - West End Opportunity Partnership, incremental tax revenues
Taxation, Sales and Use - West End Opportunity Partnership, incremental tax revenues
Universities and Colleges - West End Opportunity Partnership, board membership appointment
Consolidated Local Governments - Residential property in a revitalization area, real property tax rate levy, fifty percent limitation
Consolidated Local Governments - West End Opportunity Partnership, board membership appointment
Consolidated Local Governments - West End Opportunity Partnership, incremental tax revenues
Banks and Financial Institutions - West End Opportunity Partnership, board membership appointment
Charitable Organizations and Institutions - West End Opportunity Partnership, board membership appointment
Boards and Commissions - West End Louisville Advisory Council
Boards and Commissions - West End Opportunity Partnership
Local Mandate - West End Opportunity Partnership, incremental tax revenues

Actions

Top
02/23/21
  • introduced in Senate
  • to Committee on Committees (S)


Last updated: 4/14/2021 8:30 AM (EDT)
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