SB 36 (BR 239) - R. Sanders Jr
AN ACT relating to economic development.
Amend KRS 154.22-040 to require that an eligible company invest a minimum of $50,000 in an approved economic development project and create a minimum of five new full-time jobs at the project site.
SB 36 - AMENDMENTS
SCS - Amend various sections of KRS Chapter 154 pertaining to the Kentucky Rural Economic Development Act to allow companies to qualify if the economic development project involves a minimum investment of $50,000 and results in a minimum of five new full-time jobs at the project site; amend various sections of the Kentucky Industrial Development Act, the Kentucky Jobs Development Act, and the Kentucky Economic Opportunity Zone Act to allow companies to qualify if they hire a minimum of five new full-time employees and pay a base hourly wage of 150 percent of the average hourly wage for the county in which the project is undertaken and provide employee benefits equal to at least 15 percent of the applicable base hourly wage; amend various sections of KRS Chapter 141 to require that interest shall not be allowed or paid on any refund or credit made under the provisions Subchapters 22, 23, 24, and 28 of KRS Chapter 154
SFA (1, R. Sanders Jr) - Retain original provisions for the Kentucky Rural Economic Development program; amend various sections of KRS Chapter 154 to change the minimum number of new employees to be hired at the project site to five, and the base hourly wages to be paid to 150% of the federal minimum wage, in the Economic Opportunity Zone program, the Jobs Development program, and the New Industry Development program.
(Prefiled by the sponsor(s).)
Jan 8-introduced in Senate; to Economic Development, Tourism & Labor (S)
Feb 26-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 27-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, February 28, 2008
Feb 28-passed over and retained in the Orders of the Day; floor amendment (1) filed to Committee Substitute
Mar 4-3rd reading, passed 38-0 with Committee Substitute, floor amendment (1)
Mar 5-received in House
Mar 11-to Economic Development (H)
Mar 18-posting waived retroactively
Mar 20-reported favorably, 1st reading, to Calendar
Mar 21-2nd reading, to Rules
Mar 25-recommitted to Appropriations & Revenue (H)