KY HB453 | 2015 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 13 2015 - 25% progression, died in committee
Action: 2015-02-23 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]
Status: Introduced on February 13 2015 - 25% progression, died in committee
Action: 2015-02-23 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]
Summary
Create a new Subchapter 36 of KRS Chapter 154 and new sections of that subchapter to allow hotels and restaurants to recoup amounts expended to repair, renovate, improve, or upgrade facilities through a refund of incremental sales tax revenues generated from the facility where the economic development project was undertaken with maximum recovery equal to 20% of the amount expended on the project, with the amount refunded equal to a maximum of 25% of the incremental revenues over 10 years; create a new section of KRS Chapter 139 to establish administrative provisions for the Department of Revenue.
Title
AN ACT relating to economic development incentives for restaurants and hotels.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2015-02-23 | House | to Appropriations & Revenue (H) |
| 2015-02-13 | House | introduced in House |
Kentucky State Sources
| Type | Source |
|---|---|
| Summary | http://www.lrc.ky.gov/record/15RS/HB453.htm |
| Text | http://www.lrc.ky.gov/record/15RS/HB453/bill.doc |
