Kentucky Statutes 154.20-238 – Timetables for investments and credit award approval — Web site reports
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(1) No later than the earlier of:
(a) Eighty (80) days following the date of credit approval, including weekends and holidays; or
(b) December 31 of the calendar year of the approval;
The qualified investor shall make the qualified investment and provide proof of the qualified investment to the authority in the manner required by the authority.
(2) No later than sixty (60) days following the receipt of proof of the qualified investment, the authority shall notify the department of the credit award, the amount of the credit, and the name and Social Security number of the qualified investor that will receive the credit.
(3) If the qualified investor either fails to make the qualified investment or fails to provide the required proof of the qualified investment prior to the deadline, the award of credit approval shall be null and void, and the authority shall notify the qualified investor of the nullification and readjust the amount of credit available.
(4) (a) The authority shall maintain a publicly available Web site on which it shall report:
1. A list of all currently certified qualified small businesses and qualified investors;
2. The total amount of credit it has awarded; and
3. The total amount of available credit remaining.
(b) This report shall be updated as new small businesses and investors are certified, and as new credits are awarded or the amount of available credit is otherwise adjusted.
Effective: July 14, 2018
History: Amended 2018 Ky. Acts ch. 199, sec. 24, effective July 14, 2018. — Created
2014 Ky. Acts ch. 102, sec. 25, effective July 15, 2014.
(a) Eighty (80) days following the date of credit approval, including weekends and holidays; or
Terms Used In Kentucky Statutes 154.20-238
- Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
- Year: means calendar year. See Kentucky Statutes 446.010
(b) December 31 of the calendar year of the approval;
The qualified investor shall make the qualified investment and provide proof of the qualified investment to the authority in the manner required by the authority.
(2) No later than sixty (60) days following the receipt of proof of the qualified investment, the authority shall notify the department of the credit award, the amount of the credit, and the name and Social Security number of the qualified investor that will receive the credit.
(3) If the qualified investor either fails to make the qualified investment or fails to provide the required proof of the qualified investment prior to the deadline, the award of credit approval shall be null and void, and the authority shall notify the qualified investor of the nullification and readjust the amount of credit available.
(4) (a) The authority shall maintain a publicly available Web site on which it shall report:
1. A list of all currently certified qualified small businesses and qualified investors;
2. The total amount of credit it has awarded; and
3. The total amount of available credit remaining.
(b) This report shall be updated as new small businesses and investors are certified, and as new credits are awarded or the amount of available credit is otherwise adjusted.
Effective: July 14, 2018
History: Amended 2018 Ky. Acts ch. 199, sec. 24, effective July 14, 2018. — Created
2014 Ky. Acts ch. 102, sec. 25, effective July 15, 2014.