Kentucky Statutes 154.22-020 – Legislative findings
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(1) The General Assembly hereby finds and declares that the general welfare and material well-being of citizens of the Commonwealth, and particularly those residing in qualified counties, depends in large measure upon the development and growth of industry in the Commonwealth.
(2) The General Assembly hereby finds and declares further that it is in the best interest of the Commonwealth to induce the location of manufacturing facilities, electric generation, and agribusiness operations within the qualified counties of the Commonwealth in order to advance the public purposes of relieving unemployment by creating new jobs within the qualified counties that but for the inducements to be offered by the authority to approved companies as herein provided would not exist and of creating new sources of tax revenues for the support of the public services provided by the Commonwealth and qualified counties.
(3) The General Assembly hereby finds and declares further that the authority granted by KRS § 154.22-010 to KRS § 154.22-070 and the purposes to be accomplished hereby are proper governmental and public purposes for which public moneys may be expended, and that the inducement of the location of manufacturing facilities, electric generation, and agribusiness operations within qualified counties is of paramount importance, mandating that the provisions of KRS § 154.22-010 to
154.22-070 be liberally construed and applied in order to advance the public purposes.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 321, sec. 2, effective July 14, 2000. — Amended
1994 Ky. Acts ch. 390, sec. 5, effective July 15, 1994. – Repealed, reenacted, and amended as KRS § 154.22-020, 1992 Ky. Acts ch. 105, sec. 23, effective July 14,
1992. — Created 1988 Ky. Acts ch. 392, sec. 2, effective April 8, 1988.
Formerly codified as KRS § 152.262
(2) The General Assembly hereby finds and declares further that it is in the best interest of the Commonwealth to induce the location of manufacturing facilities, electric generation, and agribusiness operations within the qualified counties of the Commonwealth in order to advance the public purposes of relieving unemployment by creating new jobs within the qualified counties that but for the inducements to be offered by the authority to approved companies as herein provided would not exist and of creating new sources of tax revenues for the support of the public services provided by the Commonwealth and qualified counties.
Terms Used In Kentucky Statutes 154.22-020
- Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
- Commonwealth: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
- Tax revenues: means any revenues received by the Commonwealth directly or indirectly as a result of the industrial improvement project, including state corporate income taxes, the limited liability entity tax imposed by KRS §. See Kentucky Statutes 154.1-010
(3) The General Assembly hereby finds and declares further that the authority granted by KRS § 154.22-010 to KRS § 154.22-070 and the purposes to be accomplished hereby are proper governmental and public purposes for which public moneys may be expended, and that the inducement of the location of manufacturing facilities, electric generation, and agribusiness operations within qualified counties is of paramount importance, mandating that the provisions of KRS § 154.22-010 to
154.22-070 be liberally construed and applied in order to advance the public purposes.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 321, sec. 2, effective July 14, 2000. — Amended
1994 Ky. Acts ch. 390, sec. 5, effective July 15, 1994. – Repealed, reenacted, and amended as KRS § 154.22-020, 1992 Ky. Acts ch. 105, sec. 23, effective July 14,
1992. — Created 1988 Ky. Acts ch. 392, sec. 2, effective April 8, 1988.
Formerly codified as KRS § 152.262