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2008 House Bill 512: Give Economic Development Finance Authority more power for corporate tax breaks
Introduced by Rep. Robin L. Webb (D) on February 11, 2008 To abolish the Tax Increment Financing Commission and the Office of Tax Increment Financing and to provide for the transfer of all records to the Kentucky Economic Development Finance Authority.   Official Text and Analysis.
Referred to the House Appropriations and Revenue Committee on February 12, 2008
Amendment offered by Rep. Robin L. Webb (D) on February 28, 2008 To provide that projects established under prior law will be administered and interpreted in accordance with the law in effect at the time the project was approved.
The amendment passed by voice vote in the House on March 13, 2008 To provide that projects established under prior law will be administered and interpreted in accordance with the law in effect at the time the project was approved.
Reported in the House on February 28, 2008 Favorably, 1st reading, to Calendar.
Substitute offered in the House on February 28, 2008 To clarify that all existing TIF projects and agreements shall be transferred to KEDFA and require the Department of Revenue to obtain consent from taxpayers before transferring confidential information to KEDFA. The substitute deletes provisions that include services subject to tax under KRS Chapter 139 within the definition of retail for premier projects. The substitute deletes requirement that mixed use projects meet an additional blight condition to qualify and limits the individual income tax that can be pledged by the Commonwealth to 4% of the gross wages of each eligible worker.
The substitute passed by voice vote in the House on March 13, 2008 To clarify that all existing TIF projects and agreements shall be transferred to KEDFA and require the Department of Revenue to obtain consent from taxpayers before transferring confidential information to KEDFA. The substitute deletes provisions that include services subject to tax under KRS Chapter 139 within the definition of retail for premier projects. The substitute deletes requirement that mixed use projects meet an additional blight condition to qualify and limits the individual income tax that can be pledged by the Commonwealth to 4% of the gross wages of each eligible worker.
Amendment offered by Rep. Dennis Keene (D) on February 29, 2008 To allow the Kentucky Economic Development Finance Authority to act on pre-existing applications as of the date of enactment of this bills provisions.
Amendment offered by Rep. Robin L. Webb (D) on March 5, 2008 To amend an existing subsidy agreement if application is made by an agency not located in a consolidated local government and to reduce the minimum capital investment from $200 million to not less than $175 million.
Amendment offered by Rep. Dennis Keene (D) on March 7, 2008 To provide that any outstanding applications relating to a project in a city of the 4th class on the effective date of the Act may be approved by the Kentucky Economic Development Finance Authority as it existed prior to the effective date of the Act.
Amendment offered by Rep. Robin L. Webb (D) on March 10, 2008 To require KEDFA to amend an existing agreement if application is made by an agency not located in a consolidated local government and to reduce the minimum capital investment from $200 million to not less than $175 million.
The amendment passed by voice vote in the House on March 13, 2008 To require KEDFA to amend an existing agreement entered into under the provisions of KRS 65.7041 to 65.7083 if application is made by an agency not located in a consolidated local government and to reduce the minimum capital investment from $200 million to not less than $175 million.
Passed 73 to 22 in the House on March 13, 2008.
    See Who Voted "Yes" and Who Voted "No".
(same description)
To abolish the Tax Increment Financing Commission and the Office of Tax Increment Financing and to provide for the transfer of all records to the Kentucky Economic Development Finance Authority.
Received in the Senate on March 14, 2008
Referred to the Senate Appropriations and Revenue Committee on March 18, 2008
Reported in the Senate on April 2, 2008 Favorably, 2nd reading, to Rules.
Substitute offered in the Senate on April 2, 2008 To provide for an income tax exemption for active duty military pay.
The substitute passed by voice vote in the Senate on April 15, 2008 (same description)
To provide for an income tax exemption for active duty military pay.
Amendment offered by Sen. Charlie Borders (R) on April 2, 2008 To make a title amendment.
The amendment passed by voice vote in the Senate on April 15, 2008 To make a title amendment.
Passed 37 to 0 in the Senate on April 15, 2008.
    See Who Voted "Yes" and Who Voted "No".
To provide for an income tax exemption for active duty military pay.
Received in the House on April 15, 2008
Referred to the House Rules Committee on April 15, 2008

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