Kentucky House Bill 453 (Prior Session Legislation)

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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]

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.

AN ACT relating to economic development incentives for restaurants and hotels.

Rep. Brad Montell [R]

Date	Chamber	Action
2015-02-23	House	to Appropriations & Revenue (H)
2015-02-13	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/15RS/HB453.htm
Text	http://www.lrc.ky.gov/record/15RS/HB453/bill.doc