{"data":{"id":"us-ky/krs-154.12-207","jurisdiction":"us-ky","citation":"KRS 154.12-207","heading":"Grants-in-aid -- Skills training investment credit -- Maximum amount -","body":"- Application -- Approval -- Training.\n(1) The corporation may, subject to appropriation from the General Assembly or from\nfunds made available to the corporation from a ny other public or private source,\nprovide grants-in-aid to qualified companies, not in excess of five hundred thousand\ndollars ($500,000) per grant-in-aid. Such grants-in-aid shall be used exclusively for\nprograms which are consistent with the provisions of this chapter.\n(2) The corporation may, in accordance with KRS 154.12 -204 to 154.12 -208, award a\nskills training investment credit to an approved company. The amount of the skills\ntraining investment credit awarded by the corporation shall be an amount n ot to\nexceed fifty percent (50%) of the amount of approved costs incurred by the\napproved company in connection with its program of occupational upgrade training\nor skills upgrade training, the credit amount not to exceed four thousand five\nhundred dollars ($4,500) per trainee for an approved company in a heritage county\nand three thousand five hundred dollars ($3,500) per trainee for an approved\ncompany located in any other county, and, in the aggregate, not to exceed five\nhundred thousand dollars ($500,00 0) for each approved company per fiscal year.\nThe corporation shall only approve one (1) application per fiscal year for each\napproved company.\n(3) To apply for a grant -in-aid or a skills training investment credit, a qualified\ncompany shall submit an app lication to the Bluegrass State Skills Corporation\nbefore commencing its program of skills upgrade or occupational upgrade training.\nEach application shall contain information the corporation requires, including but\nnot limited to:\n(a) A proposal for a pro gram of skills upgrade training, occupational upgrade\ntraining, and education;\n(b) A description of each component of the proposed training program and the\nnumber of employee training hours requested; and\n(c) A statement of the total anticipated costs and expenses of the program,\nincluding a breakdown of the costs associated with equipment, personnel,\nfacilities, and materials.\n(4) Approval of the grant-in-aid and skills training investment credit application by the\nboard shall be based upon the following criteria:\n(a) The program must be within the scope of KRS 154.12-204 to 154.12-208;\n(b) Participants in the program must qualify as an employee as defined by KRS\n154.12-204;\n(c) The program must involve an area of skills upgrade training, occupational\nupgrade training, and education which is needed by a qualified company and\nfor which a shortage of qualified individuals exists within the\nCommonwealth; and\n(d) The grant-in-aid and skills training investment credit must be essential to the\nsuccess of the program as the resources are inadequate to attract the technical\nassistance and financial support necessary from a qualified company.\n(5) After a review of applications for grant-in-aid and skills training investment credits,\nthe corporation may designate the qualified company as an approved company and\napprove the maximum amount of grants and skills training investment credits the\napproved company is eligible to receive. The maximum amount of skills training\ninvestment credits approved for all qualified companies by the corporation shall not\nexceed two million five hundred thousand dollars ($2,500,000) for each fiscal year.\nSkills training investment credits that remain unallocated by the corporation at the\nend of its fiscal year shall lapse and shall not be carried forward to a new fiscal\nyear.\n(6) The approved company shall complete all programs of skills upgrade training or\noccupational upgrade training within t hree (3) years from the date of approval by\nthe corporation and shall certify the completion of these programs to the\ncorporation. Once they are completed and certified and all required documentation\nis provided and received by the corporation, the corpora tion shall disburse the grant\nfunds or notify the approved company of the final authorized skills training\ninvestment credit.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57117","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:52Z","sha256":"95584ff820e76abe1b66a3c48f510fe6abaf3e15370070ce7557ca58c0b98158","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.12-206","next":"us-ky/krs-154.12-208"},"notice":"GroundRules: Original legal text. Not legal advice."}