2011 Kentucky Revised Statutes Subchapter 20 Financing of Development Generally 154.20.202 Authority to promulgate administrative regulations -- Requirements for approval of eligible companies and economic development projects.
KY Rev Stat § 154.20.202 (1996 through Reg Sess) What's This?
154.20-202 Authority to promulgate administrative regulations -- Requirements for
approval of eligible companies and economic development projects.
(1)
(2)
(3)
The authority shall promulgate administrative regulations, pursuant to KRS Chapter
13A, for approving eligible companies pursuant to KRS 154.20-200 to 154.20-216.
Relevant standards for approval of eligible companies and economic development
projects shall include but are not limited to creditworthiness of the eligible
company, employment opportunities for Kentucky residents, including wages to be
paid, whether the project is located in a preference zone, whether the eligible
company is participating in other incentive programs pursuant to KRS Chapter 154
for the project, and the likelihood that the project will be an economic success. An
eligible company with an economic development project located in a preference
zone shall be given priority for approval.
An eligible company shall certify to the authority, by written application provided
by the authority, the following:
(a) That the company is making a minimum investment of one hundred thousand
dollars (0,000) in the project, if the project is located in a preference zone
or five hundred thousand dollars (0,000) in the project, if the project is not
located in a preference zone;
(b) A description of the project;
(c) An estimate of the expenses for which the company shall seek approval;
(d) Supporting documentation, as requested by the authority; and
(e) Any other information requested by the authority.
Effective: March 18, 2005
History: Created 2005 Ky. Acts ch. 168, sec. 37, effective March 18, 2005.
Legislative Research Commission Note (3/18/2005). 2005 Ky. Acts ch. 168, sec. 165,
provides that this section shall apply to tax years beginning on or after January 1,
2005.
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