Kentucky Jobs Development Act
Kentucky · Development · §§ 154.24-010 to 154.24-160 · 18 sections
Overview
The Kentucky Jobs Development Act governs a state economic-development incentive program aimed at encouraging service and technology companies to establish or expand operations within the state. It authorizes a state economic-development authority to set approval criteria by regulation, review applications, and grant preliminary and final approval to projects and to the companies deemed eligible for the program. Approved companies enter into an agreement covering the project that provides inducements in the form of tax credits and job assessment fees withheld from employee wages, subject to limits on the term of the inducement, procedures for adjusting inducements, and provisions allowing the local jurisdiction to approve the agreement and offer alternative inducements.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- KRS 154.24-010Definitions for KRS 154.24-010 to 154.24-150
- KRS 154.24-020Legislative findings
- KRS 154.24-030Repealed, 1994
- KRS 154.24-040Repealed, 1996
- KRS 154.24-050Personnel
- KRS 154.24-060Personal liability or accountability of director or officer
- KRS 154.24-070Acceptance of moneys -- Expenditures
- KRS 154.24-080Conflicts of interest
- KRS 154.24-090Administrative regulations to include criteria for approval of eligible companies
- KRS 154.24-100Preliminary and final approval of projects -- Designation of eligible companies
- KRS 154.24-110Tax credits -- Employee job assessment fees
- KRS 154.24-120Service and technology agreement with respect to company's economic development project -- Contents
- KRS 154.24-130Limit on term of inducement after agreement activation date -- Effect of excess in assessments
- KRS 154.24-140Adjustment of inducements
- KRS 154.24-150Approval of application by local jurisdiction under service and technology agreement -- Alternative inducements offered -- Assessment fees
- KRS 154.24-151Short title for KRS 154.24-010 to 154.24-150
- KRS 154.24-152Deadline for new applications -- Governing law for outstanding approved projects
- KRS 154.24-160Renumbered as KRS 154.20-160
Enacted in other states
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