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HB266/LM (BR978) - C. Harris, S. Miles, J. Bell, H. Collins, L. Combs, T. Couch, M. Dossett, J. Gooch Jr., D. Graham, J. Greer, D. Hale, C. Howard, D. Keene, D. Meade , R. Meyer, R. Nelson, D. Schamore, J. Short, K. Sinnette, F. Steele, J. Stewart III, G. Stumbo, T. Thompson, D. Watkins, B. Yonts, J. York
AN ACT relating to coal severance tax distributions, making an appropriation therefor, and declaring an emergency.
Amend KRS 42.4582 to increase the amount that is transferred to the local government economic development fund from the general fund from 50% to 70%; amend KRS 42.4585 to increase the amount transferred from the transfer from the local government economic development fund to the local government economic assistance fund from 15% of the severance and processing taxes collected annually to the greater of 35% or $40 million; amend KRS 42.455 to change the allocation of funds within the local government economic assistance fund to hold the amount allocated to the haul road system steady, while increasing the amount that may be used for grants; provide that the Act shall be effective July 1, 2016; amend KRS 42.470 to conform; EMERGENCY.
Jan 15, 2016 - introduced in House
Jan 19, 2016 - to Appropriations & Revenue (H)