154.26-015 Legislative findings.
The General Assembly finds and declares that the general welfare and material well-being
of the citizens of the Commonwealth depends in large measure upon the revitalization
and development of industry in the Commonwealth, and that it is in the best interest of
the Commonwealth to induce the revitalization of existing manufacturing or agribusiness
facilities within the Commonwealth in order to advance the public purposes of relieving
unemployment by preserving and creating jobs that would not exist if not for the
inducements to be offered by the authority to approved companies, and by preserving and
creating sources of tax revenues for the support of public services provided by the
Commonwealth; and that the authority prescribed by KRS 154.26-015 to 154.26-100, and
the purposes to be accomplished under the provisions of KRS 154.26-015 to 154.26-100
are proper governmental and public purposes for which public moneys may be expended,
and that the inducement of the creation of projects is of paramount importance mandating
that the provisions of KRS 154.26-015 to 154.26-100 be liberally construed and applied
in order to advance public purposes.
Effective: July 15, 1994
History: Amended 1994 Ky. Acts ch. 390, sec. 7, effective July 15, 1994. – Created
1992 Ky. Acts ch. 359, sec. 2, effective July 14, 1992.
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