HB 539 (BR 1897) - T. Pullin, K. Sinnette, R. Adkins
AN ACT relating to economic development.
Amend KRS 154.26-010 to add definitions for "supplemental project" and "supplemental project eligible company": amend KRS 154.26-080 to allow a company with a revitalization agreement outstanding to apply for a supplemental project; amend KRS 154.26-090 to allow a sales and use tax credit for taxable items purchased to construct, retrofit, or upgrade a facility as part of a supplemental project; create a new section of KRS Chapter 139 to provide for the sales tax incentive.
HB 539 - AMENDMENTS
HCS - Retain original provisions, except delete language providing a sales tax incentive, and provide that the provisions of the act shall apply to taxable years beginning on or after January 1, 2014.
SCS - Retain original provisions; require an eligible company to include a statement as part of the application for a supplemental project that the company would close its facility without the supplemental project; require that the maximum term for an agreement with a supplemental project not exceed 20 years.
Mar 1-introduced in House
Mar 5-to Appropriations & Revenue (H)
Mar 9-posted in committee
Mar 13-reported favorably, 1st reading, to Consent Calendar with Committee Substitute
Mar 14-2nd reading, to Rules; posted for passage in the Consent Orders of the Day for Friday, March 16, 2012
Mar 16-3rd reading, passed 93-0 with Committee Substitute
Mar 19-received in Senate
Mar 23-taken from Committee on Committees (S); 1st reading; to Natural Resources & Energy (S)
Mar 26-taken from Natural Resources & Energy (S); 2nd reading; returned to Natural Resources & Energy (S)
Mar 27-reported favorably, to Rules with Committee Substitute as a Consent Bill; posted for passage in the Consent Orders of the Day for Tuesday, March 27, 2012; 3rd reading, passed 37-0 with Committee Substitute
Mar 28-received in House; to Rules (H); posted for passage for concurrence in Senate Committee Substitute ; House concurred in Senate Committee Substitute ; passed 92-0
Mar 29-enrolled, signed by Speaker of the House
Mar 30-enrolled, signed by President of the Senate; delivered to Governor
Apr 11-signed by Governor (Acts ch. 119)