{"data":{"id":"us-ky/krs-148.854","jurisdiction":"us-ky","citation":"KRS 148.854","heading":"Legacy expansion projects -- Purpose -- Eligibility for incentives --","body":"Incentives available -- Application, approval, and monitoring process -- Term\nof agreement -- Analysis of positive fiscal impact -- Legislative findings.\n(1) As used in this section:\n(a) \"Legacy expansion project\" means an expansion project approved under this\nsection; and\n(b) \"Premier event\" means a sports event that:\n1. Is in the premier series or top sanctioned level of all similar types of\nevents staged on a national basis; and\n2. Is broadcast nationally.\n(2) The purpose of this section is to encourage the location of premier events in the\nCommonwealth.\n(3) To qualify for incentives under this section, an eligible company or its assignee\nshall:\n(a) Have an existing project under K RS 148.851 to 148.860 that was approved\nprior to June 26, 2009;\n(b) Invest a minimum of thirty million dollars ($30,000,000) in the expansion of\nthe previously approved project;\n(c) Present one (1) or more new premier events on an annual basis at the legac y\nexpansion project site. As used in this paragraph, \"new premier event\" means\na premier event that was not presented at the existing project prior to approval\nof the legacy expansion project; and\n(d) Include a facility with a permanent seating capacity of  sixty-five thousand\n(65,000) or more, where premier events will be held.\n(4) An approved company meeting the requirements established by subsection (3) of\nthis section shall be eligible to recover the following:\n(a) Up to twenty -five percent (25%) of the approved costs expended for the\nlegacy expansion project; and\n(b) One hundred percent (100%) of any amounts outstanding under the agreement\nfor the original project between the approved company, or any assignee of the\napproved company, and the authority.\n(5) To obtain the incentives authorized pursuant to this section, an eligible company\nthat meets the requirements of subsection (3) of this section shall file an application\nfor a legacy expansion project with the authority. The legacy expansion project shall\nbe reviewed and evaluated as a new project under KRS 148.851 to 148.860, and the\napplication and review process established in KRS 148.851 to 148.860 shall apply,\nexcept as otherwise provided in this section. The c abinet may establish\nrequirements and guidelines for the review and approval of projects under this\nsection that are different from, or in addition to the requirements and guidelines\nestablished for the review of projects in general under KRS 148.851 to 148.860.\n(6) (a) The application required under subsection (5) of this section shall include a\nplan describing the eligible company's efforts to promote the hiring of\nKentucky residents to be employed in the construction and operation of the\nlegacy expansion project.\n1. The plan shall be submitted in a format, and with sufficient detail to\ndemonstrate that the eligible company has evaluated the following\nfactors in the development of its plan:\na. An analysis of its specific need to employ particular occupatio ns,\nskills, trades, and technical expertise in the construction and\noperation of the legacy expansion project;\nb. An estimate of the total number of individuals expected to be\nemployed in the construction and operation of the legacy\nexpansion project, whic h shall include a categorization of\nconstruction phase and operational phase employment projections;\nc. An analysis of the specific need to employ individuals skilled in\nspecialized tasks or in the operation of specialized equipment\nunique to the construct ion or operation of the legacy expansion\nproject, together with an evaluation of the availability of\nsufficiently skilled laborers within the Commonwealth who may\nbe employed to perform the specialized tasks identified or to work\nwith particular specialized equipment;\nd. An analysis of the labor market conditions in Kentucky counties in\nthe vicinity of the legacy expansion project at the time construction\nof the project is ongoing and during the time at which operations at\nthe project commence, which shall include the eligible company's\nestimates of the availability of Kentucky laborers of sufficient\nskill, training, and expertise to perform the work the company\nrequires, during both the construction and operational phases of\nthe project; and\ne. An analysis of any other factor the authority and the eligible\ncompany may agree upon.\n2. The plan may include any other items the authority and the eligible\ncompany may agree upon.\n3. a. The plan may include an expression of hiring targets and\npreferences for Kentucky residents in a format and with the detail\nthat the authority and eligible company may agree upon.\nb. The benchmark hiring target for the construction phase shall be to\nhire one hundred percent (100%) of contractors from contractors\nwith facilities in Kentucky, and the benchmark hiring target for the\noperations phase shall be the employment of workers, of whom at\nleast seventy-five percent (75%) are Kentucky residents.\nc. Notwithstanding the benchmark targets established by subdivision\nb. of this subparagr aph, the authority and eligible company may\nagree upon specific hiring targets after consideration of the\nanalyses required by subparagraph 1. of this paragraph.\nd. The plan may set forth preferences for use of materials\nmanufactured in Kentucky, so long a s they are competitively\npriced.\ne. In no event shall hiring benchmarks, hiring targets, or any\npreferences take precedence over the results of a competitive\nbidding process.\n(b) The authority shall not approve the application required by subsection (5) of\nthis section until the eligible company has submitted the plan required by this\nsubsection, and the plan has been evaluated and approved by the authority.\n(c) An approved company shall report annually to the authority concerning its\ncompliance with the terms of its plan.\n(d) The authority shall review the annual reports filed by an approved company in\nrelation to an approved company's approved plan to determine compliance\nwith the plan. If the authority determines that the approved company has\nsubstantially failed to comply with the terms of its plan, the authority may take\nreasonably necessary measures to ensure compliance with the plan, including\nbut not limited to the withholding of the incentives authorized by this section.\nIf the authority has determin ed that the approved company has substantially\nfailed to comply with the terms of its plan, it shall provide the eligible\ncompany with written notice of this determination, and the eligible company\nshall be provided a reasonable opportunity to cure any deficiencies prior to the\nwithholding of any incentives.\n(7) (a) The initial term of an agreement entered into under this section shall be ten\n(10) years. During each year of the agreement term, the approved company\nshall be eligible to recover one-tenth (1/10) of the total incentives approved by\nthe authority.\n(b) If, at the end of the original ten (10) year term of the legacy expansion project\nagreement, the approved company has not claimed all of the approved\nincentives available under the legacy expansion project agreement, the\nauthority shall extend the term of the agreement by one (1) year for each year\nduring the original ten (10) year term of the agreement that the approved\ncompany met or exceeded the requirements established by subsection (3)(c) of\nthis section. The term of the legacy expansion project agreement, including all\nextensions, shall not exceed twenty (20) years, and the amount of recovery\nduring each year that the agreement is extended shall be determined on a pro\nrata basis, based upon the total number of years for which the agreement is\nextended.\n(8) The Kentucky General Assembly recognizes that the benefits accruing to the\nCommonwealth from a legacy expansion project include benefits beyond those that\nwould typically be considered in makin g the determination required by KRS\n148.855(4)(c). Therefore, the analysis of positive fiscal impact required by KRS\n148.855(4)(c) and (5) shall include an accounting of the following social benefits:\n(a) The positive impact that the legacy expansion project will have on the existing\ntourism attraction project;\n(b) The positive impact the legacy expansion project will have on other tourism\nattractions that will receive increased visitation due to the existence of the\nlegacy expansion project; and\n(c) The positive impacts that will accrue to the economy of the Commonwealth\nfrom the national and international exposure the legacy expansion project is\nexpected to provide.","path":["KRS Chapter 148"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=1809","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:41Z","sha256":"5e8bb1d3322d1fe4ec9a613c374070d587949456626d4de7e12b132ffe21a3a4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-148.8531","next":"us-ky/krs-148.855"},"notice":"GroundRules: Original legal text. Not legal advice."}