154.23.005 Legislative findings for KRS 154.23-005 to 154.23-079. - Kentucky Statutes

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Page 1 of 1 154.23-005 Legislative findings for KRS 154.23-005 to 154.23-079. The General Assembly hereby finds and declares as follows:
(1) That the general welfare and material well-being of the citizens of the Commonwealth, particularly those residing in qualified zones, depends in large
measure upon development and growth of manufacturing and service or technology
industries in the Commonwealth; (2) It is in the best interest of the Commonwealth to create new sources of tax revenues for the support of public services, to induce the location and expansion of
manufacturing and service or technology industries within qualified zones, and to
advance the public purposes of relieving unemployment and providing employment
opportunities that would not exist but for the inducements offered by the authority
to eligible companies; and (3) That the authority granted by KRS 154.23-005 to 154.23-079 and purposes to be accomplished under KRS 154.23-005 to 154.23-079 are proper governmental and
public purposes for which public moneys may be expended, and the inducements
for the location and expansion of manufacturing and service or technology
industries within qualified zones is of paramount importance, for which KRS
154.23-005 to 154.23-079 shall be liberally construed and applied to advance public
purposes. Effective: July 14, 2000
History: Created 2000 Ky. Acts ch. 528, sec. 1, effective July 14, 2000.