Kentucky Statutes 154.12-2035 – Electronic database of approved program projects — Annual report — Programs included — Coordination with other agencies
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(1) The cabinet shall maintain a searchable electronic database on its website containing information on the cost and status of the programs listed in subsection (3)(a) of this section. The database shall include all projects approved at any time in the last five (5) years and shall include for each, where applicable, the following information:
(a) The name of the program, the recipient or participant, the type of project, and its location by county;
(b) Total and approved costs of the project or investment, and the amount of incentives or other benefits authorized;
(c) For the Kentucky Business Investment Program and the Kentucky Enterprise Initiative Act, the amount of incentives or other benefits actually recovered as self-reported by the recipient;
(d) The number of new jobs estimated and, for the Kentucky Business Investment
Program, actually created, along with wage information for those jobs; (e) Project status and the date and nature of the most recent activity; and
(f) Any other comparable data or information necessary to achieve transparency and accountability for the specified programs.
(2) In addition to the electronic database required in subsection (1) of this section, the cabinet shall prepare an annual report on the programs listed in subsection (3) of this section and make it available on the Cabinet for Economic Development website by November 1 of each year. The report shall include all projects approved in the preceding fiscal year and shall provide for these projects the information specified in subsection (1) of this section plus aggregate data for each program, summary evaluations of program activity and effectiveness, and anything required by statute to be reported for any particular program. The report shall also list all projects that were approved in prior years but active at any time in the preceding fiscal year, although for these projects the report need not provide further data.
(3) The following programs shall be subject to the reporting requirements of this section:
(a) The electronic database required in subsection (1) of this section shall include the Bluegrass State Skills Corporation, grants-in-aid and skills training investment credit; Kentucky Business Investment Program; Kentucky Enterprise Initiative Act; Office of Entrepreneurship and Innovation programs; Incentives for Energy-related Business Act; Kentucky Economic Development Finance Authority small business and direct loan programs; Kentucky Industrial Revitalization Act; Kentucky Reinvestment Act; Kentucky Small Business Tax Credit; economic development bonds; Kentucky Industrial Development Act; Kentucky Jobs Development Act; Kentucky Jobs Retention Act; the Kentucky Rural Economic Development Act; and
(b) The annual report required by subsection (2) of this section shall include all programs listed in paragraph (a) of this subsection plus the Kentucky
Investment Fund Act, and tax increment financing, state participation projects. (4) The cabinet shall coordinate with any other agency necessary to supply the
information required by this section.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 75, sec. 6, effective June 29, 2023. — Amended
2021 Ky. Acts ch. 141, sec. 5, effective July 1, 2021; and ch. 185, sec. 108, effective
June 29, 2021. — Amended 2018 Ky. Acts ch. 199, sec. 18, effective July 14, 2018. –
– Created 2014 Ky. Acts ch. 134, sec. 1; and ch. 185 sec. 108, effective July 15,
2014.
Legislative Research Commission Note (7/15/2014). 2014 Ky. Acts ch. 89, sec. 13, instructs the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in the Act, as it confirms the reorganization of the Cabinet for Economic Development. Such a correction has been made in subsection (3)(a) of this statute.
(a) The name of the program, the recipient or participant, the type of project, and its location by county;
Terms Used In Kentucky Statutes 154.12-2035
- Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
- Cabinet: means the Cabinet for Economic Development as established under KRS
12. See Kentucky Statutes 154.1-010 - Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Project: includes but is not limited to agribusiness, agricultural or forestry production, harvesting, storage, or processing facilities or equipment. See Kentucky Statutes 154.1-010
- State: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
- Statute: A law passed by a legislature.
- Year: means calendar year. See Kentucky Statutes 446.010
(b) Total and approved costs of the project or investment, and the amount of incentives or other benefits authorized;
(c) For the Kentucky Business Investment Program and the Kentucky Enterprise Initiative Act, the amount of incentives or other benefits actually recovered as self-reported by the recipient;
(d) The number of new jobs estimated and, for the Kentucky Business Investment
Program, actually created, along with wage information for those jobs; (e) Project status and the date and nature of the most recent activity; and
(f) Any other comparable data or information necessary to achieve transparency and accountability for the specified programs.
(2) In addition to the electronic database required in subsection (1) of this section, the cabinet shall prepare an annual report on the programs listed in subsection (3) of this section and make it available on the Cabinet for Economic Development website by November 1 of each year. The report shall include all projects approved in the preceding fiscal year and shall provide for these projects the information specified in subsection (1) of this section plus aggregate data for each program, summary evaluations of program activity and effectiveness, and anything required by statute to be reported for any particular program. The report shall also list all projects that were approved in prior years but active at any time in the preceding fiscal year, although for these projects the report need not provide further data.
(3) The following programs shall be subject to the reporting requirements of this section:
(a) The electronic database required in subsection (1) of this section shall include the Bluegrass State Skills Corporation, grants-in-aid and skills training investment credit; Kentucky Business Investment Program; Kentucky Enterprise Initiative Act; Office of Entrepreneurship and Innovation programs; Incentives for Energy-related Business Act; Kentucky Economic Development Finance Authority small business and direct loan programs; Kentucky Industrial Revitalization Act; Kentucky Reinvestment Act; Kentucky Small Business Tax Credit; economic development bonds; Kentucky Industrial Development Act; Kentucky Jobs Development Act; Kentucky Jobs Retention Act; the Kentucky Rural Economic Development Act; and
(b) The annual report required by subsection (2) of this section shall include all programs listed in paragraph (a) of this subsection plus the Kentucky
Investment Fund Act, and tax increment financing, state participation projects. (4) The cabinet shall coordinate with any other agency necessary to supply the
information required by this section.
Effective: June 29, 2023
History: Amended 2023 Ky. Acts ch. 75, sec. 6, effective June 29, 2023. — Amended
2021 Ky. Acts ch. 141, sec. 5, effective July 1, 2021; and ch. 185, sec. 108, effective
June 29, 2021. — Amended 2018 Ky. Acts ch. 199, sec. 18, effective July 14, 2018. –
– Created 2014 Ky. Acts ch. 134, sec. 1; and ch. 185 sec. 108, effective July 15,
2014.
Legislative Research Commission Note (7/15/2014). 2014 Ky. Acts ch. 89, sec. 13, instructs the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in the Act, as it confirms the reorganization of the Cabinet for Economic Development. Such a correction has been made in subsection (3)(a) of this statute.