KY HB206 | 2016 | Regular Session
Status
Spectrum: Slight Partisan Bill (Republican 15-9)
Status: Introduced on January 8 2016 - 25% progression, died in chamber
Action: 2016-01-11 - to Appropriations & Revenue (H)
Text: Latest bill text (Draft #1) [PDF]
Status: Introduced on January 8 2016 - 25% progression, died in chamber
Action: 2016-01-11 - to Appropriations & Revenue (H)
Text: Latest bill text (Draft #1) [PDF]
Summary
Amend KRS 96.895 to provide that, beginning in fiscal year 2016-2017, a portion of the Tennessee Valley Authority (TVA) in-lieu-of-tax payment made to the Commonwealth and deposited into the general fund shall be transferred to the regional development agency assistance fund to be distributed among fiscal court-designated local industrial development authorities for economic development and job creation activities; provide that the transfers will not affect the portion of the total TVA payment that is currently distributed among local government entities; provide that these transfers will be phased-in over a five-year period, with an amount equal to 50 percent of the general fund portion of the total TVA annual payment being transferred in fiscal year 2020-2021, and each fiscal year thereafter, not to exceed $6,000,000 each year; require annual reporting to fiscal court and the Legislative Research Commission; APPROPRIATION.
Title
AN ACT relating to TVA in-lieu-of-tax payments and making an appropriation therefor.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2016-01-11 | House | to Appropriations & Revenue (H) |
| 2016-01-08 | House | introduced in House |
Kentucky State Sources
| Type | Source |
|---|---|
| Summary | http://www.lrc.ky.gov/record/16RS/HB206.htm |
| Text | http://www.lrc.ky.gov/record/16RS/HB206/bill.pdf |
| Supplement | http://www.lrc.ky.gov/record/16RS/HB206/LM.pdf |
