2013 Kentucky Revised Statutes
CHAPTER 144 - TAX INCENTIVES FOR ECONOMIC DEVELOPMENT
144.115 Legislative findings and declarations.

Download as PDF 144.115 Legislative findings and declarations. For purposes of KRS 144.110 to 144.130, the General Assembly finds and declares that: (1) The general welfare and the material well being of citizens of the Commonwealth of Kentucky depend in large measure upon the development and expansion of industry in the Commonwealth, including the air transportation industry; (2) The development and expansion of domestic and international air transportation service promotes economic development within the Commonwealth for the public purposes of relieving unemployment, and stabilizing and promoting the economy of the Commonwealth through the location of new industry and the retention of existing industry within Kentucky; (3) It is in the best interest of the Commonwealth to induce the location and expansion of domestic and international air transportation service from within the Commonwealth in order to advance the public purposes of relieving unemployment by creating jobs that but for the inducements to be offered by the Commonwealth to certificated air carriers as provided by KRS 144.110 to 144.130 would not exist and of creating new sources of tax revenues for the support of public services provided by the Commonwealth; and (4) The authority granted and the purposes to be accomplished by KRS 144.110 to 144.130 are proper governmental and public purposes for which public moneys may be expended, and that inducement for the location or expansion of air transportation facilities and related equipment by certificated air carriers within the Commonwealth is of paramount importance, mandating that the provisions of KRS 144.110 to 144.130 be liberally construed and applied in order to advance the public purposes. Effective:May 24, 1991 History: Created 1991 (1st Extra. Sess.) Ky. Acts ch. 7,sec. 1, effective May 24, 1991.