AN ACT relating to economic development.
     Amend KRS 154.12-2084 to remove certain requirements in the definitions of a "employee," "full-time employee," include employment opportunity in the definition of "occupational upgrade training"; amend KRS 154.12-2088 to require the Bluegrass State Skills Corporation to consider employee retention requirements when establishing guidelines for skills upgrade training; remove certain requirements of preliminarily approved companies regarding the retention of employees receiving training; create a new section of subchapter 31 of KRS Chapter 154.31 to declare that subchapter shall be known as the Kentucky Enterprise Initiative Act; amend KRS 154.32-010 to make technical corrections to the definition of "economic development project," provide a definition for "headquarters," and specify that eligible costs shall include nonrecurring obligations; amend KRS 154.60-010 to define "average hourly wage," specify when the number of full-time employees shall be identified, and define "small business"; amend KRS 154.60-020 to declare when a small business may apply for credits; create a new section of subchapter 60 of KRS Chapter 154 to declare that subchapter shall be known as the Small Business Tax Credit Program; amend KRS Chapter 141.405 and 154.12-2086 to conform.

     Feb 5-introduced in House
     Feb 6-to Economic Development (H); posting waived
     Feb 7-reported favorably, 1st reading, to Calendar
     Feb 8-2nd reading, to Rules
     Feb 11-posted for passage in the Regular Orders of the Day for Tuesday, February 12, 2012
     Feb 12-3rd reading, passed 97-0
     Feb 13-received in Senate
     Feb 19-to Economic Development, Tourism & Labor (S)
     Mar 5-taken from Economic Development, Tourism & Labor (S); 1st reading; returned to Economic Development, Tourism & Labor (S)
     Mar 6-taken from Economic Development, Tourism & Labor (S); 2nd reading; returned to Economic Development, Tourism & Labor (S)
     Mar 7-reported favorably, to Rules as a Consent Bill