SB 127 (BR 1265) - D. Ridley
AN ACT relating to economic development.
Create a new section of KRS 42.450 to 42.495 to allow two or more counties, at least one of which has a single county account in the local government economic development fund (LGEDF), to form a Coal for Regional Economic Development (C-RED) organization that creates programs and other initiatives to market the region; require the establishment of the C-RED organization through interlocal agreement; require the interlocal agreement to meet several requirements such as an agreement that each county that has a single county account in the LGEDF to contribute up to five percent of their account to the C-RED organization; establish that counties that successfully enter into an interlocal agreement are eligible for a five percent match from the 50% of coal severance taxes that go into the general fund.
Feb 7-introduced in Senate
Feb 9-to Appropriations & Revenue (S)