Ky. Rev. Stat. Ann. ch. 154, subch. 30 – Tax Increment Financing | Midpage

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Kentucky Revised Statutes

154.30

Ky. Rev. Stat. Ann. ch. 154, subch. 30

Tax Increment Financing

Commonwealth of Kentucky

154.30-010Definitions for subchapter. (Effective until January 1, 2027)154.30-020Findings of General Assembly relative to development areas and projects.154.30-030State tax increment financing participation programs -- Application requirements for a local government to request state participation -- Authority review requirements -- Pledge limitations -- Tax incentive agreements required -- Independent consultant's report. (Effective until July 15, 2026)154.30-040Commonwealth Participation Program for State Real Property Ad Valorem Tax Revenues -- Criteria for state participation -- Qualifying expenditures -- Pledge limitations -- Authority review -- Required determinations by the authority -- Tax incentive agreement required.154.30-050Signature Project Program -- Purpose -- Two initiatives -- Criteria for state participation -- Qualifying expenditures -- Authority review -- Required determinations by the authority -- Pledge limitations -- Tax incentive agreement required.154.30-060Commonwealth Participation Program for Mixed-Use Redevelopment in Blighted Urban Areas -- Definitions -- Criteria for state participation -- Qualifying expenditures -- Authority review -- Required determinations by the authority -- Pledge limitations -- Tax incentive agreement required.154.30-070Terms and conditions of tax incentive agreements to be negotiated between authority and agency -- Provisions of agreement -- Pledge of incremental revenues superior to other pledges of revenues -- Renewal and discontinuance of agreement.154.30-080Requirement that minimal capital investment be made prior to the release of incremental revenues -- Escrow account -- Cancellation if agency fails to meet minimum investment -- Duties of authority to monitor agreements and track revenues.154.30-090Annual disbursement of tax incremental revenues.