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HB589

10RS

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HB 589/FN (BR 420) - R. Adkins, T. Riner

     AN ACT relating to tax credits for alternative transportation fuels.
     Amend KRS 153.715 to include natural gas-derived liquid fuels in the definition of "alternative transportation fuels"; amend KRS 154.27-010, 154.27-020, and 154.27-060 to include natural gas or natural gas liquids as a permissible feedstock for an alternative transportation facility, and to establish a minimum investment level of $1,000,000 for such facilities; create a new section of KRS Chapter 143A to allow a severance tax credit for natural gas or natural gas liquids used as feedstock at an alternative transportation facility.

HB 589 - AMENDMENTS


     HCS - Retain provisions of original bill except reinstate existing definition for "alternative transportation fuels" produced before August 1, 2010; define "alternative transportation fuels" produced after August 1, 2010 to include liquefied fuel produced from natural gas and liquefied petroleum produced from natural gas or natural gas liquids; make a technical correction to the definition of "resident"; provide that to be eligible for the incentives provided in the subchapter, the minimum capital investment shall be $1,000,000 for an alternative fuel facility constructed after August 1, 2010 or an existing facility that is upgraded after August 1, 2010 that uses natural gas or natural gas liquids as the primary feedstock; provide that purchases or severs of natural gas or natural gas liquids made after August 1, 2010 shall be eligible for the tax incentives provided in that paragraph; amend KRS 42.450 to provide that after October 1, 2010, the quarterly transfer of funds to the Local Government Economic Assistance Fund shall be made only after the quarterly installment of the annual amount from the prior calendar year allowed as an incentive to an approved company under Sections 4 and 5 of the Act has been made.

     SCA (1, B. Smith) - Retain the original provisions, except amend KRS 154.27-020 and KRS 154.27-30 to limit the number of projects using natural gas or natural gas liquids as the primary feedstock that the authority may approve to 5.

     Mar 2-introduced in House
     Mar 4-to Natural Resources & Environment (H)
     Mar 5-posted in committee
     Mar 15-taken from committee; 1st reading; returned to Natural Resources & Environment (H)
     Mar 18-reported favorably, 2nd reading, to Rules with Committee Substitute as a Consent Bill
     Mar 22-posted for passage in the Consent Orders of the Day for Tuesday, March 23, 2010
     Mar 23-3rd reading, passed 99-0 with Committee Substitute ; received in Senate
     Mar 25-taken from committee; 1st reading; returned to Committee on Committees (S)
     Mar 26-taken from committee; 2nd reading; to Appropriations & Revenue (S)
     Apr 1-recommitted to Natural Resources and Energy (S); reported favorably, to Rules with committee amendment (1) ; placed in the Orders of the Day; 3rd reading, passed 36-0 with committee amendment (1) ; received in House; to Rules (H); posted for passage for concurrence in Senate committee amendment (1) ; House concurred in Senate committee amendment (1) ; passed 97-0; enrolled, signed by each presiding officer; delivered to Governor
     Apr 13-signed by Governor (Acts ch. 139)

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