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HB 330/FN (BR 1098) - D. Osborne, J. Hoover, J. Jenkins

     AN ACT relating to tax increment financing and declaring an emergency.
     Amend KRS 65.490 to allow an extension of time for certain tax increment financing pilot programs; EMERGENCY.


AMENDMENTS

     HFA1( R. Palumbo ) - Provide that if additional financing is approved for or the current financing is renegotiated by the Louisville Arena Authority, Inc., the authority shall remove blackout dates the day before and the day after an event within the arena.
     HFA2( R. Palumbo ) - Direct the Louisville Arena Authority, Inc., to actively search for a National Basketball Association team to locate in Kentucky and play home basketball games in the KFC Yum! Center arena.
     HFA3( R. Palumbo ) - Provide that upon any modification to the contract between the University of Louisville and the Louisville Arena Authority, Inc., the provision allowing the University of Louisville to purchase the KFC Yum! Center upon default of financing shall be removed.
     SCS1 - Extend the period for which a pilot program can exist for an additional 18 years under certain circumstances; require certain contributions be made annually by the local government and the public university; require excess revenues be used to redeem bond prior to stated maturity date; require borrower of the proceeds of the bond to apply excess revenues to the debt service at least every 36 months; require an evaluation of the total incentive amount paid through state participation be made and require a report to be submitted by the Department of Revenue; require reimbursement by the local government, university and the borrower of the proceeds of the bond, on a pro rata basis, if the total incentive amount paid from state participation exceeds $315,000,000, to be deposited in the Kentucky permanent pension fund to be appropriated by the General Assembly.
     SCS2 - Extend the period for which a pilot program can exist for an additional 25 years under certain circumstances; require excess revenues be used to redeem the bond prior to the stated maturity date; require once the bond is callable, the borrower to apply excess revenues to the debt service at least every 36 months; require the borrower to submit an annual report to the Governor and the Capital Projects and Bond Oversight Committee; EMERGENCY.

     Feb 13, 2017 - introduced in House
     Feb 15, 2017 - to Appropriations & Revenue (H)
     Feb 16, 2017 - posted in committee
     Feb 22, 2017 - reported favorably, 1st reading, to Calendar
     Feb 23, 2017 - 2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, February 24, 2017; floor amendments (1) and (2) and (3) filed
     Feb 27, 2017 - 3rd reading; floor amendments (1) and (2) ruled out of order; passed 79-14
     Feb 28, 2017 - received in Senate
     Mar 01, 2017 - to Appropriations & Revenue (S)
     Mar 06, 2017 - taken from Appropriations & Revenue (S); 1st reading; returned to Appropriations & Revenue (S)
     Mar 07, 2017 - taken from Appropriations & Revenue (S); 2nd reading; returned to Appropriations & Revenue (S)
     Mar 14, 2017 - reported favorably, to Rules with Committee Substitute (1)
     Mar 29, 2017 - taken from Rules; recommitted to Appropriations & Revenue (S)
     Mar 30, 2017 - reported favorably, to Rules with Committee Substitute (2); posted for passage in the Regular Orders of the Day for Thursday, March 30, 2017; 3rd reading; Committee Substitute (1) withdrawn; passed 30-7-1 with Committee Substitute (2); received in House; to Rules (H); posted for passage for concurrence in Senate Committee Substitute (2); House concurred in Senate Committee Substitute (2); passed 72-8; enrolled, signed by Speaker of the House; enrolled, signed by President of the Senate; delivered to Governor
     Apr 11, 2017 - signed by Governor (Acts, ch. 189)