HB 266 (BR 1089) - C. Geveden
AN ACT relating to economic development.
Create new sections of KRS 154 Subchapter 24 to permit the transfer of rent and start-up costs as credits against the taxes that otherwise would be due in KRS 141.020, 141.040, 136.320, 136.330, and 136.505, and allow local governments to provide additional inducements of up to 1/2% of employees' gross wages for the duration of the agreement, and require the Cabinet for Economic Development to promulgate administrative regulations concerning applications; amend KRS 154.24-010 to define "advanced technology start-up company", "information technology", and to amend the definition of "start-up costs"; amend KRS 154.24-090 to require that an advanced technology start-up company create 5 new jobs with wages above 135% of the average state wage; and amend KRS 154.24-120 and 154.24-140 to conform.
Feb 12-introduced in House
Feb 13-to Economic Development (H)