01RS HB238


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HB 238/FN (BR 1045) - R. Wilkey, J. Richards, J. Callahan, M. Denham, S. Nunn

     AN ACT relating to increment financing.
     Create new sections of KRS Chapter 65 to allow cities, counties, or the state to contract with an agency for increments received by it in return for benefits accrued from a project locating in a development area.


     HCS - Retain original provisions of the bill except add the definition of "relocation revenues" and include that term as "old revenues."
     SCA (1, R. Sanders Jr) - Amend to provide that the Office of State Budget Director, Finance and Administration Cabinet, and the Revenue Cabinet shall determine the amount of incremental state revenues from any grant contract; provide that the approval shall not be granted unless there is a net positive economic impact.

     Feb 8-introduced in House
     Feb 9-to Economic Development (H)
     Feb 13-posted in committee
     Feb 21-reported favorably, 1st reading, to Calendar with Committee Substitute
     Feb 22-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, February 23, 2001
     Feb 26-3rd reading, passed 96-0 with Committee Substitute
     Feb 27-received in Senate
     Mar 1-to Appropriations and Revenue (S)
     Mar 5-reported favorably, 1st reading, to Calendar with committee amendment (1)
     Mar 6-2nd reading, to Rules
     Mar 7-posted for passage in the Regular Orders of the Day for Wednesday, March 7, 2001; 3rd reading, passed 34-0 with committee amendment (1)
     Mar 8-received in House; posted for passage for concurrence in Senate committee amendment (1) ; House concurred in Senate committee amendment (1) ; passed 94-0
     Mar 9-enrolled, signed by each presiding officer, delivered to Governor
     Mar 20-signed by Governor (Acts ch. 148)

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