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House Bill 303

Actions | Amendments
Last Action 03/23/23: signed by Governor (Acts Ch. 75)
Title AN ACT relating to economic development.
Bill Documents Acts Chapter 75
Current/Final
Introduced
Fiscal Impact Statements Local Mandate
Additional Fiscal Impact Statements Exist
Bill Request Number 1120
Sponsor J. Branscum
Summary of Original Version Amend KRS 11.200 and 12.020 to rename the Office of Entrepreneurship and Small Business Innovation to the Office of Entrepreneurship and Innovation within the Cabinet for Economic Development; amend KRS 12.020 to rename the Department for Business Development to the Department for Business and Community Development, the Incentive Administration Division to the Program Administration Division, the Office of Marketing and Public Affairs to the Office of Strategy and Public Affairs, the Communications Division to the Marketing and Communications Division, the Graphic Design Division to the Research and Strategy Division, and eliminate the Office of Workforce, Community Development and Research; amend KRS 12.020 to create the Development and Retention Division - West Kentucky, the Development, Retention, and Administrative Division - Central and East Kentucky, and Community and Workforce Development Division within the Department for Business and Community Development; amend KRS 154.12-2035, 154.20-230, 154.12-277, 154.12-278, 154.12-310, 154.60-010, 154.60-020, 164.6017, 164.6021 and 164.6023 to reflect the new name of the Office of Entrepreneurship and Innovation; amend KRS 154.12-204 to include companies engaged in hydrogen transmission as qualified companies in the Bluegrass State Skills Corporation Grant-in-Aid and Skills Training Investment Credit programs; amend KRS 154.12-207 to increase the application limit from $200,000 to $500,000; amend KRS 154.12-223 to reorganize the Department for Business and Community Development; amend KRS 154.12-224 to reorganize the Department for Financial Services within the Cabinet for Economic Development; amend KRS 154.12-275 to reorganize the Office of Strategy and Public Affairs within the Cabinet for Economic Development; amend KRS 154.20-190 to change reporting deadline to November 1; amend KRS 154.20-583, 154.20-586, and 154.20-589 to modify the Western Kentucky Risk Assistance Fund to specify that eligible companies may apply for other programs administered by the Cabinet for Economic Development, to change the cap on the amount of loan loss payments to $100,000,000 that is proportionally reduced as the loss payments are disbursed, and to provide for a 1% administrative fee; amend KRS 154.25-040 to address recent changes in the income tax statutes; amend KRS 154.31-010 to include companies engaged in hydrogen transmission as eligible companies in the Kentucky Enterprise Initiative Act and to add a definition for "tourism attraction"; amend KRS 154.32-010 and 154.32-020 to include companies engaged in hydrogen transmission as eligible companies in the Kentucky Business Initiative program; amend KRS 154.32-050 to allow disaster relief areas declared by state or federal agencies on or after December 1, 2022, to be included in the enhanced county classification; amend KRS 154.32-090 to change the wage assessment calculation under the Kentucky Business Initiative program to address recent changes in the income tax statutes; amend KRS 154.34-010 to include companies engaged in hydrogen transmission as eligible companies in the Kentucky Reinvestment Act; amend KRS 154.61-010 to include the definitions of "cabinet" and "loan-out entity" and to expand the definition of "employee"; amend KRS 154.61-020 and 154.61-030 to revise the duties and responsibilities of the Cabinet for Economic Development and the approved companies under the Kentucky Entertainment Initiative program; amend KRS 141.310, 141.350, and 141.383 to conform; repeal KRS 141.401, 154.12-276, 154.23-005, 154.23-010, 154.23-015, 154.23-020, 154.23-025, 154.23-030, 154.23-035, 154.23-040, 154.23-045, 154.23-050, 154.23-055, 154.23-060, 154.23-065, 154.23-070, 154.23-075, 154.23-079, 154.23-080, 154.47-040, 154.47-065, 154.80-140, and 154.80-310; amend KRS 141.0205, 154.20-170, 154.47-005 and 174.205 to conform.
Index Headings of Original Version Disasters - Cabinet for Economic Development, West Kentucky Risk Assistance Fund
Economic Development - Cabinet for Economic Development, incentive programs, hydrogen transmission companies, inclusion
Economic Development - Cabinet for Economic Development, incentive programs, modification of program requirements
Energy - Hydrogen transmission companies, incentive programs, inclusion
Oil and Natural Gas - Cabinet for Economic Development, incentive programs, inclusion of hydrogen transmission companies
Public Utilities - Hydrogen transmission companies, incentive programs, inclusion
Reorganization - Cabinet for Economic Development
Small Business - Cabinet for Economic Development, incentive programs, requirements, modification
State Agencies - Cabinet for Economic Development, reorganization, program requirements, modification
Taxation - Cabinet for Economic Development, tax incentive programs, modification
Tourism - Cabinet for Economic Development, tourism attraction, program requirements, modification
Wages and Hours - Cabinet for Economic Development, incentive programs, wage assessment calculations, modification
Local Mandate - Cabinet for Economic Development, incentive programs, requirements, modification
Jump to Proposed Amendments Senate Committee Substitute 1 with Fiscal Impact Statements
Votes Vote History

Actions

Top | Amendments
02/15/23
  • introduced in House
  • to Committee on Committees (H)
02/17/23
  • to Economic Development & Workforce Investment (H)
02/23/23
  • reported favorably, 1st reading, to Calendar
02/24/23
  • 2nd reading, to Rules
03/01/23
  • posted for passage in the Regular Orders of the Day for Thursday, March 02, 2023
03/02/23
  • 3rd reading, passed 96-0
03/03/23
  • received in Senate
  • to Committee on Committees (S)
03/07/23
  • to Economic Development, Tourism, & Labor (S)
03/13/23
  • taken from Economic Development, Tourism, & Labor (S)
  • 1st reading
  • returned to Economic Development, Tourism, & Labor (S)
03/14/23
  • taken from Economic Development, Tourism, & Labor (S)
  • 2nd reading
  • returned to Economic Development, Tourism, & Labor (S)
03/16/23
  • reported favorably, to Rules with Committee Substitute (1) as a consent bill
  • posted for passage in the Consent Orders of the Day for Thursday, March 16, 2023
  • 3rd reading, passed 37 -0 with Committee Substitute (1)
  • received in House
  • to Rules (H)
  • taken from Rules
  • posted for passage for concurrence in Senate Committee Substitute (1)
  • House concurred in Senate Committee Substitute (1)
  • passed 93-0
  • enrolled, signed by Speaker of the House
  • enrolled, signed by President of the Senate
  • delivered to Governor
03/23/23
  • signed by Governor (Acts Ch. 75)

Proposed Amendments

Top | Actions
Amendment Senate Committee Substitute 1
Fiscal Impact Statement Local Mandate to Senate Committee Substitute 1
Summary Retain original provisions; amend KRS 141.383, 154.61-010, and 154.61-020 to establish a continuous film production aspect of the film industry and a motion picture tax credit; cap continuous film production tax incentives at $25 million for calendar year 2024 and each calendar year thereafter; require that after the first six months of each calendar year any unused portion of this cap is to be made available to all other film industry and motion pictures.
Index Headings Economic Development - Film industry tax credit, continuous film productions
Taxation - Film industry tax credit, continuous film productions
Taxation, Income--Corporate - Continuous film production, tax credit
Taxation, Income--Individual - Continuous film production, tax credit
Local Mandate - Film industry tax credit, continuous film productions

Last updated: 11/9/2023 3:03 PM (EST)