98RS HB382


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HB 382 (BR 1669) - C. Geveden, J. Adams, R. Adkins, J. Bruce, J. Callahan, L. Clark, B. Colter, C. Hoffman, P. Mason, J. Wayne

     AN ACT relating to economic development.
     Amend KRS 103.286 to change the formula for allocating Kentucky's state ceiling on the issuance of private activity bonds; during the first half of the annual bond-issuance term, reserve 60% of the private activity cap for state bond-issuance authorities, rather than reserve 60% of the cap, during the first 25% of the term, for local bond-issuance authorities; during the second half of the annual bond-issuance term, allocate the remaining cap from a single pool in accordance with Finance and Administrative Cabinet regulations, rather than on a first-come, first-serve basis; EMERGENCY.


     SFA (1, G. Freeman) - Amend KRS 42.4588 by creating job development incentive grants to by used by counties to encourage job development for industrial development projects that locate in a county and create a minimum of 25 new full-time jobs held by Kentucky residents; require a minimum wage of 130% of the federal minimum wage; limit each job development incentive grant to $5,000 for each job created; require the industrial firm to pay an average wage of 150% of the federal minimum wage and invest a minimum of $10,000 per new job created.
     SFA (2/Title, G. Freeman) - Make title amendment.

     Jan 21-introduced in House
     Jan 22-to State Government (H)
     Jan 23-posted in committee
     Jan 27-reported favorably, 1st reading, to Calendar
     Jan 28-2nd reading, to Rules
     Jan 29-posted for passage in the Regular Orders of the Day for February 2, 1998
     Feb 2-3rd reading, passed 69-24
     Feb 3-received in Senate
     Feb 4-to State and Local Government (S)
     Mar 12-reported favorably, 1st reading, to Calendar
     Mar 13-2nd reading, to Rules
     Mar 16-posted for passage in the Regular Orders of the Day for March 18, 1998
     Mar 17-floor amendments (1) and (2-title) filed
     Mar 18-3rd reading, passed 36-0 with floor amendments (1) and (2-title)
     Mar 19-received in House; posted for passage for concurrence in Senate amendments
     Mar 24-House concurred in Senate floor amendment (1); passed 92-1
     Mar 25-enrolled, signed by each presiding officer, delivered to Governor
     Mar 27-signed by Governor

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