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2008 House Bill 767 (Economic development incentives relating to FutureGen)

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  • Introduced by Rep. Rocky Adkins on March 4, 2008, to establish state economic development incentives for the construction of a new integrated gasification combined cycle electric generation plant with carbon capture and storage, or the retrofit of an existing coal-fired electric generation plant to add carbon capture and storage capability, if funding for the project is provided by the United States Department of Energy under the FutureGen initiative.
    • Referred to the House Appropriations and Revenue Committee on March 5, 2008.
    • Reported in the House on March 11, 2008, favorably, 1st reading, to Calendar.
    • Substitute offered in the House on March 11, 2008, to allow any utility operating in Kentucky to be in the partnership and require the partners to report to the Public Service Commission. The substitute authorizes KEDFA to use bond funds approved as part of 2007 Special Session 2 HB1 for a project approved under this Act.
    • The substitute passed in the House by voice vote on March 13, 2008.
    • Amendment offered by Rep. Rocky Adkins on March 12, 2008, to include city-owned utilities among the utilities that can work together to propose a pilot project for FutureGen that will qualify for state incentives.
    • The amendment passed in the House by voice vote on March 13, 2008.
  • Passed in the House (95 to 0) on March 13, 2008. [Vote Details and Comments]
  • Received in the Senate on March 14, 2008.
    • Referred to the Senate Economic Development, Tourism & Labor Committee on March 18, 2008.
    • Referred to the Senate Appropriations and Revenue Committee on April 14, 2008.

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Comments

Introduced by Rep. Rocky Adkins on March 4, 2008. Passed in the House (95 to 0) on March 13, 2008. New Comment

1) dash [by dash on March 14, 2008]
Kentucky's budget deficit is billions of dollars to its state retirees; billions of dollars in bonded indebtedness and billions of dollars deficit to state retirees health care!

In addition Kentucky is one of several states in 2008 with a double digit percent of senior population.

As pointed out above in addition to being one of several states with an expensive current and future health care population, Kentucky's current health status is unacceptable and requires years to enhance current status if strategy implemented today costing Ky taxpayers billions of tax dollars it does not have today, nor 2008 obsolete tax base will not generate enough in future!

Kentucky's current deficit riddled budget must be enhanced along with drastic cuts to state expenses for Kentucky to financially weather it's current financial crisis:

(1) Corporate tax shelters skyrocket up---allowing Corporate taxpayers to get out of paying their fair share of taxes into the budget estimated in 2001 to be $150 million and in 2008 estimated to be upwards of $300 to $400 million. In 2008 legislation a bill gives more KRS authority over tax incentives to entice potential Corporations to Kentucky which KY can't afford
(2) Kentucky's Justice Cabinet's Division of Vehicle Enforcment Officers & Finance Cabinet's Department of Revenue property tax staff allows Kentucky owned motor vehicles owners to escape paying an estimated $240 million of usage & property tax liabilities ($1,600 tax liability per violator X 150,000 "of'em").
(3) Kentucky's state tax expenditures are estimated today @$750 million and 2008 legislation proposes more increases via legislation,
(4) State personnel policies must be examined to decrease an estimated $100 million from current workforce expenses and majority could be cut by adopting 1995 Commission On Quality & Efficiency recommendation of eliminating 70 PVA statutory positions and their offices saving between $50 and $70 million, immediately;
(5) Kentucky's federal medicaid deficit could be reduced by Division of Aging petitioning for Federal Medicaid waiver allowing state's medicaid funding to be used to fund seniors living in assisted living facilities; i.e., current estimated annual costs of nursing home is $75,000 and assisted living annual costs $35,000.
(6) Weight-distance tax on trucks eliminated and lost revenues recouped by enhancing motor fuels tax and truck registration fees as an incentive to bring in more high paying trucking jobs to Kentucky; this is 1994 recommendation of truckers;

Best Regards,
Bill Huff
319 Dixie Manor Ct
Harrodsburg, Ky. 40330-1923
859.734.2228
dash@copper.net
Reply New Comment

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