HB 409/LM (BR 1739) - R. Palumbo
AN ACT relating to the Enterprise Zone Program.
Amend various sections of KRS 154.45 to declare the intent of the General Assembly; remove retail businesses from the definitions of existing and new business; add to the criteria the option of annual skill upgrade training for full-time employees to the requirements for qualified businesses; allow Kentucky residents who reside in a county adjacent to an enterprise zone to be considered a targeted workforce; allow local governments to apply to amend zone boundaries for competitive reasons to accommodate a qualified business; include census tract data from 1990 to 2000; extend existing zone designations to thirty years; specify that tax credits for building materials are allowed only to qualified businesses; delete the motor vehicle usage tax credit for non-commercial vehicles; repeal KRS 154.45-100.
HB 409 - AMENDMENTS
HCS (1/FN/LM) - Retain original provisions; allow retail businesses within an enterprise zone to remain eligible for program benefits; clarify "existing business" and redefine "new business" to conform; make technical corrections.
HCS (2/LM) - Retain original provisions; provide that no zone shall expire before July 1, 2004; allow expansion of an existing zone only if 75% of commercial, industrial and retail property in the existing zone has been developed; require entities receiving enterprise zone benefits to file quarterly reports for each quarter in which a benefit is received; provide that the Act shall be effective only if funding is provided in the budget.
Feb 10-introduced in House
Feb 11-to Economic Development (H)
Feb 18-posting waived
Feb 20-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 21-2nd reading, to Rules; recommitted to Appropriations and Revenue (H)
Feb 24-posting waived
Feb 26-reported favorably, to Rules with Committee Substitute (2) ; recommitted to Appropriations and Revenue (H)