2013 Kentucky Revised Statutes CHAPTER 65 - GENERAL PROVISIONS APPLICABLE TO COUNTIES, CITIES, AND OTHER LOCAL UNITS 65.6851 Option to impose assessment fee on certain newly created jobs -- Limitation on amount -- Tax credit for assessed employees -- Restriction on multiple assessments -- Termination -- Requirements to exercise option -- Transition provisions.
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65.6851 Option to impose assessment fee on certain newly created jobs -Limitation on amount -- Tax credit for assessed employees -- Restriction
on multiple assessments -- Termination -- Requirements to exercise
option -- Transition provisions.
For any development area for which increments do not include revenues from the
Commonwealth:
(1) Any governing body establishing a development area may impose an
assessment on each person employed in the development area, as a condition
of employment, whose job was newly created as a result of a project, and as
determined by the policies and procedures established by the governing body,
subject to the conditions in subsection (6) of this section, and who is subject to
the state tax imposed by KRS 141.020. A job shall not be deemed to be newly
created under this section if it occurs due to the relocation of jobs from another
location within the Commonwealth.
(2) Subject to KRS 65.6853, the total assessment levied by any governing body
within the development area shall not exceed an amount equal to two percent
(2%) of the gross wages of the employee.
(3) Each person so assessed shall be entitled to credits against any local
occupational license fee or payroll tax of the governing body that established
the development area and the job development assessment fee, if an
occupational license fee is then levied by that governing body and is not
otherwise totally used as a credit against assessments imposed under
Subchapter 23, 24, or 26 of KRS Chapter 154, and provided that the amount
does not exceed the amount of the occupational licensing fee or payroll tax
paid to that local government by the employee. If the governing body that
created the job development assessment fee has no occupational license fee,
the employee shall not be entitled to receive a credit against any other
governmental agency's occupational license fee.
(4) Subsequent to the establishment of a development area by one (1) governing
body, no other governing body may levy an assessment in any portion of the
development area that would cause the total assessment in any portion of the
development area to exceed two percent (2%) of the gross wages of the
employee, subject to KRS 65.6853. If more than one (1) governing body jointly
establishes a development area, the governing bodies that establish the
development area shall agree upon the amount of the assessment and the
manner by which the assessment is to be prorated among the governing
bodies establishing the development area.
(5) Any assessment of employees in connection with their employment at a project
levied under this section shall permanently lapse on the date:
(a) Any bonds issued in connection with acquiring or developing the
infrastructure of a development area, in accordance with KRS 65.680 to
65.699, are retired; or
(b) Any loans or other financing incurred in connection with the establishment
of a development area mature or are prepaid in full.
(6) For the purposes of this section:
(a) The development area shall be a previously undeveloped tract of land;
(b)
(7)
No more than five hundred (500) acres may be approved in any twelve
(12) month period in any county; and
(c) Acceptable developments shall be limited to projects as defined in KRS
65.680.
Any agency that has established a development area under KRS 65.680 to
65.699 prior to July 15, 2002, unless otherwise approved by the agency, shall
continue to operate under the provisions of KRS 65.680 to 65.699 as
determined by the policies and procedures established by the agency prior to
July 15, 2002.
Effective:June 20, 2005
History: Amended 2005 Ky. Acts ch. 153, sec. 2, effective June 20, 2005. -Amended 2002 Ky. Acts ch. 338, sec. 6, effective July 15, 2002. -- Created 2001
Ky. Acts ch. 133, sec. 2, effective June 21, 2001.
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