Kentucky Senate Bill 38 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 3-0)
Status: Introduced on January 6 2016 - 25% progression, died in chamber
Action: 2016-01-07 - to Appropriations & Revenue (S)
Text: Latest bill text (Draft #4) [PDF]

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 state 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 state TVA payment being transferred in fiscal year 2020-2021 and each fiscal year thereafter, not to exceed $6,000,000 each year; EMERGENCY; APPROPRIATION.

AN ACT relating to TVA in-lieu-of-tax payments, making an appropriation therefor, and declaring an emergency.

Sen. Stan Humphries [R]

Sen. C.B. Embry [R]

Sen. George Wise [R]

Date	Chamber	Action
2016-01-07	Senate	to Appropriations & Revenue (S)
2016-01-06	Senate	introduced in Senate

Type	Source
Summary	http://www.lrc.ky.gov/record/16RS/SB38.htm
Text	http://www.lrc.ky.gov/record/16RS/SB38/bill.doc
Text	http://www.lrc.ky.gov/record/16RS/SB38/bill.pdf
Supplement	http://www.lrc.ky.gov/record/16RS/SB38/FN.pdf