42.4592 Allocation of remaining moneys in local government economic development fund. - Kentucky Statutes

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42.4592 Allocation of remaining moneys in local government economic development fund. (1) Moneys remaining in the local government economic development fund following the transfer of moneys to the local government economic assistance fund provided
for in KRS 42.4585 and following the transfer of moneys to the secondary wood
products development fund provided for in KRS 42.4586 shall be allocated as
follows:
(a) Thirty-three and one-third percent (33-1/3%) shall be allocated to each coal producing county on the basis of the ratio of total tax collected in the current
and preceding four (4) years on coal severed in each respective county to the
total tax collected statewide in the current and four (4) preceding years. (b) Thirty-three and one-third percent (33-1/3%) shall be allocated quarterly to each coal-producing county on the basis of the following factors, which shall
be computed for the current and four (4) preceding years, and which shall be
equally weighted:
1. Percentage of employment in mining in relation to total employment in
the respective county; 2. Percentage of earnings from mining in relation to total earnings in the
respective county; and 3. Surplus labor rate. (c) Thirty-three and one-third percent (33-1/3%) shall be reserved for expenditure for industrial development projects benefiting two (2) or more coal-producing
counties. For purposes of this paragraph, "coal-producing county" shall mean
a county which has produced coal in the current or any one of the four (4)
preceding years. (2) (a) For purposes of paragraph (b) of subsection (1) of this section, "percentage of employment in mining" and "percentage of earnings from mining" shall be the
percentages published for the latest available five (5) year period by the
Bureau of Economic Analysis in the United States Department of Commerce;
"surplus labor rate" shall be the rate published for the latest available five (5)
year period by the Office of Employment and Training of the Department of
Workforce Investment in the Education and Workforce Development Cabinet,
as provided in paragraph (b) of this subsection. (b) 1. Each year the Office of Employment and Training shall estimate surplus
labor for each county and for the Commonwealth and shall annually
publish an estimate of the surplus labor rate for each county and the
Commonwealth. 2. The estimate of surplus labor for each county and for the
Commonwealth shall be made using the best practical method available
at the time the estimates are made. In determining the method to be
adopted, the Office of Employment and Training may consult with
knowledgeable individuals, including but not limited to the Office of the
United States Bureau of Labor Statistics, state and national researchers, state and local officials, and staff of the Legislative Research
Commission. The description of the method used to estimate surplus
labor shall be reported in each annual publication provided for in
subparagraph 1. of this paragraph. 3. For purposes of this section, "surplus labor" means the total number of
residents who can be classified as unemployed or as discouraged
workers, and "surplus labor rate" means the percentage of the potential
civilian labor force which is surplus labor. (3) The funds allocated under the provisions of paragraphs (a) and (b) of subsection (1) of this section shall retain their identity with respect to the county to which they are
attributable, and a separate accounting of available moneys within the fund shall be
maintained for the respective counties. Accounting for funds allocated under the
provisions of this section shall be by the Department for Local Government. Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 117, sec. 26, effective July 15, 2010. -- Amended 2009 Ky. Acts ch. 11, sec. 8, effective June 25, 2009. -- Amended 2007 Ky. Acts
ch. 47, sec. 20, effective June 26, 2007. -- Amended 2006 Ky. Acts ch. 211, sec. 10,
effective July 12, 2006. -- Amended 1998 Ky. Acts ch. 69, sec. 11, effective July 15,
1998. -- Amended 1996 Ky. Acts ch. 271, sec. 4, effective July 15, 1996. -- Amended
1994 Ky. Acts ch. 224, sec. 16, effective July 15, 1994. -- Created 1992 Ky. Acts
ch. 107, sec. 7, effective July 1, 1992.