2006 Kentucky Revised Statutes - Subchapter 23 Economic Development Projects

KRS 154.23-005 to 154.23-079 Kentucky Economic Opportunity Zone Act

.005 Legislative findings for KRS 154.23-005 to 154.23-079.
.010 Definitions for KRS 154.23-005 to 154.23-079.
.015 Certification of qualified zones -- Use of census tracts -- Decertification of census tracts -- Replacement of decertified noncontiguous tract with other qualifying census tract.
.020 Amendment of boundaries of qualified zones.
.025 Standards for approval of companies and economic development projects -- Commitments to be made by eligible companies.
.030 Preliminary approval of eligible companies -- Designation of approved companies.
.035 Tax incentive agreements between authority and approved companies -- Time limits -- Tax credits and assessments as inducements for approved companies -- Assignment of tax incentive agreement -- Documentation of expenditures -- Suspension of inducements -- Authority's remedies in case of failure to comply -- Activation date -- Costs of counsel.
.040 Service and technology agreements -- Time limits for meeting minimum investment and employment requirements -- Inducements during term of agreements -- Suspension or termination of inducements -- Approved costs -- Reduction of inducements.
.045 Application of eligible company to become approved company and expand existing business -- Base levels for eligible credits -- Exemption of employees from assessment -- Increase in number of employees at site -- Tax -- Additional agreements.
.050 Tax credit for approved company engaged in manufacturing, service, or technology activities -- Reports by Department of Revenue to authority.
.055 Assessment based on employee's gross wages -- Amount -- Credits against taxes and fees -- Prorating of credits and assessments against occupational license fees -- Availability of records -- Approval of assessment by local government -- Cessation of assessments.
.060 Applications for grant funds -- Approved company may apply inducements toward purchase price of property and improvements.
.065 Wage subsidies for recipients of Kentucky Transitional Assistance Program.
.070 Administrative regulations.
.075 Exemption from personal liability for directors and officers of authority.
.079 Short title.

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