Senate Bill 249

Actions | Amendments
Last Action 04/08/22: signed by Governor (Acts Ch. 146)
Title AN ACT relating to incentive programs and declaring an emergency.
Bill Documents Acts Chapter 146
Current/Final
Introduced
Fiscal Impact Statements Fiscal Note
Local Mandate
Bill Request Number 2190
Sponsor P. Wheeler
Summary of Original Version Amend KRS 154.20-258 to allow a tax credit of up to 40 percent if the contribution is made to an investment fund approved by the authority prior to January 1, 2023, and 25 percent if the contribution is made to an investment fund approved by the authority on or after January 1, 2023; amend KRS 65.7047 to add that if the city or county pledges occupational license taxes or fees as part of the local tax revenue to support local development areas, it may contract for the services of a qualified independent outside consultant or financial adviser, making this optional and setting forth requirements; amend KRS 65.7049 to add that if the city or county intends to apply for the Signature Projects Program under KRS 154.30-050 or the mixed-use redevelopment program under KRS 154.30-060, the city or county shall engage the services of a qualified independent outside consultant or financial adviser, specifying the reporting requirements of the financial adviser; amend KRS 65.7053 to include that an ordinance establishing the development area must also include the estimated fiscal impact arrived at by the financial adviser under their reporting requirements addressed in KRS 65.7049; amend KRS 154.20-410 to end the Kentucky alternative fuel and renewable energy fund and deeming any balances be transferred to the Kentucky enterprise fund established in KRS 164.6019; amend KRS 164.6019 to conform with this transfer; repeal KRS 154.20-405; EMERGENCY.
Index Headings of Original Version Effective Dates, Emergency - Incentive programs, local development area, tax credit
Taxation - Incentive programs, local development area, tax credit
Cities - Local development area, tax credit
Counties - Local development area, tax credit
Local Mandate - Local development area, tax credit
Fiscal Note - Incentive programs, local development area, tax credit
Economic Development - Incentive programs, local development area, tax credit
Jump to Proposed Amendments House Committee Substitute 1
Votes Vote History

Actions

Top | Amendments
02/28/22
  • introduced in Senate
  • to Committee on Committees (S)
03/01/22
  • to Appropriations & Revenue (S)
03/16/22
  • reported favorably, 1st reading, to Calendar
03/17/22
  • 2nd reading, to Rules
  • posted for passage in the Regular Orders of the Day for Friday, March 18, 2022
03/18/22
  • 3rd reading, passed 30-0
  • received in House
  • to Committee on Committees (H)
03/23/22
  • taken from Committee on Committees (H)
  • 1st reading
  • returned to Committee on Committees (H)
  • to Appropriations & Revenue (H)
03/29/22
  • reported favorably, 2nd reading, to Rules with Committee Substitute (1)
03/30/22
  • posted for passage in the Consent Orders of the Day for Wednesday, March 30, 2022
  • 3rd reading, passed 98-0 with Committee Substitute (1)
  • received in Senate
  • to Rules (S)
  • posted for passage for concurrence in House Committee Substitute (1)
  • Senate concurred in House Committee Substitute (1)
  • passed 35-0
  • enrolled, signed by President of the Senate
  • enrolled, signed by Speaker of the House
  • delivered to Governor
04/08/22
  • signed by Governor (Acts Ch. 146)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Summary Retain original provisions, except remove the amendments to KRS 65.7047, 65.7049, 65.7053, and 164.6019 and the language pertaining to Tax Increment Financing projects; EMERGENCY.
Index Headings Economic Development - Investment fund contributions
Effective Dates, Emergency - Kentucky alternative fuel and renewable energy fund, elimination
Fuel - Kentucky alternative fuel and renewable energy fund, elimination

Last updated: 5/25/2022 2:58 PM (EDT)
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