KRS 154.20-202: Authority to promulgate administrative regulations -- Requirements for

approval of eligible companies and economic development projects.

(1) The authority shall promulgate administrative regulations, pursuant to KRS Chapter

13A, for approving eligible companies pursuant to KRS 154.20-200 to 154.20-216.

(2) Relevant standards for approval of eligible companies and economic development

projects shall include but are not limited to creditworthiness of the eligible

company, employment opportunities for Kentucky residents, including wages to be

paid, whether the project is located in a preference zone, whether the eligible

company is participating in other incentive programs pursuant to KRS Chapter 154

for the project, and the likelihood that the project will be an economic success. An

eligible company with an economic development project located in a preference

zone shall be given priority for approval.

(3) An eligible company shall certify to the authority, by written application provided

by the authority, the following:

(a) That the company is making a minimum investment of one hundred thousand

dollars ($100,000) in the project, if the project is located in a preference zone

or five hundred thousand dollars ($500,000) in the project, if the project is no t

located in a preference zone;

(b) A description of the project;

(c) An estimate of the expenses for which the company shall seek approval;

(d) Supporting documentation, as requested by the authority; and

(e) Any other information requested by the authority.