Jobs Development Act

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.