HB 515/LM (BR 485) - T. Couch, F. Steele
AN ACT relating to coal severance tax revenues, making an appropriation therefor, and declaring an emergency.
Amend KRS 42.4582 to increase the amount of coal severance tax receipts deposited into the Local Government Economic Development Fund (LGEDF) from 50 percent to 75 percent beginning July 1, 2014; amend KRS 42.4585 to proportionately increase the amount of tax receipts deposited into the Local Government Economic Assistance Fund (LGEAF) from 15 percent to 22.5 percent; amend KRS 42.4592 to end the current allocation of LGEDF moneys into single-county accounts and begin directly disbursing these funds to the fiscal courts of coal-producing counties to be used for economic development projects approved by the Cabinet for Economic Development; close the multi-county fund and the current LGEDF grant program; amend KRS 42.460, 11A.233, 42.409, 42.455, 42.475, 42.480, 65.920, 91A.040, 154.12-2086, 154.12-224, 154.12-225, 154.22-040, and 154.32-050 to conform; amend KRS 164.7890 to end the off-the-top fund allocation for the pharmacy scholarship program; amend KRS 164.7891 to end the off-the-top fund allocation for the osteopathic scholarship program; repeal KRS 42.4588, 42.4595, 42,465, 42.490, and 42.495; APPROPRIATION; EMERGENCY; EFFECTIVE July 1, 2014.
Mar 4-introduced in House
Mar 5-to Appropriations & Revenue (H)