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2011 Kentucky Revised Statutes
CHAPTER 65 GENERAL PROVISIONS APPLICABLE TO COUNTIES, CITIES, AND OTHER LOCAL UNITS
65.6853 Relationship to other job development assessment fees -- Maximum on total tax credits.


KY Rev Stat § 65.6853 (1996 through Reg Sess) What's This?
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65.6853 Relationship to other job development assessment fees -- Maximum on total tax credits. For any development area for which increments do not include revenues from the Commonwealth: (1) If a company, against whose employees an assessment is levied under KRS 65.6851, enters into an agreement with the economic development authority under Subchapter 23, 24, or 26 of KRS Chapter 154 allowing the company to impose a job development assessment fee as part of that agreement, the total assessment levied against the employee for state inducements and the development area shall not exceed six percent (6%), subject to subsection (2) of this section. (2) If an eligible company under Subchapter 23, 24, or 26 of KRS Chapter 154 locates or expands within a development area, the assessment imposed under KRS 65.6851(1) shall not exceed the lesser of two percent (2%) or the difference between two percent (2%) and the local occupational license fee used as a credit against the assessments granted under Subchapter 23, 24, or 26 of KRS Chapter 154. Effective: July 15, 2002 History: Amended 2002 Ky. Acts ch. 338, sec. 7, effective July 15, 2002. -- Created 2001 Ky. Acts ch. 133, sec. 3, effective June 21, 2001.

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