65.6853 Relationship to other job development assessment fees -- Maximum on total tax credits. - Kentucky Statutes

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Page 1 of 1 65.6853 Relationship to other job development assessment fees -- Maximum on total tax credits. For any development area for which increments do not include revenues from the
Commonwealth:
(1) If a company, against whose employees an assessment is levied under KRS 65.6851, enters into an agreement with the economic development authority under
Subchapter 23, 24, or 26 of KRS Chapter 154 allowing the company to impose a
job development assessment fee as part of that agreement, the total assessment
levied against the employee for state inducements and the development area shall
not exceed six percent (6%), subject to subsection (2) of this section. (2) If an eligible company under Subchapter 23, 24, or 26 of KRS Chapter 154 locates or expands within a development area, the assessment imposed under KRS
65.6851(1) shall not exceed the lesser of two percent (2%) or the difference
between two percent (2%) and the local occupational license fee used as a credit
against the assessments granted under Subchapter 23, 24, or 26 of KRS Chapter
154. Effective: July 15, 2002
History: Amended 2002 Ky. Acts ch. 338, sec. 7, effective July 15, 2002. -- Created 2001 Ky. Acts ch. 133, sec. 3, effective June 21, 2001.