{"data":{"id":"us-ky/krs-154.25-050","jurisdiction":"us-ky","citation":"KRS 154.25-050","heading":"Supplemental projects -- Application for and approval of -- Project's","body":"activation date -- Inducements, when authorized.\n(1) If an approved company makes additional investments in the form of additional\njobs retention projects during the term of the initial jobs retention project, the\napproved company may apply for, and the authority may approve, a supplemental\nproject.\n(2) The authority, upon adoption of its final approval of a supplemental project, may\nenter into, with any approved company, an amended agreement with respect to both\nthe initial jobs retention project and the supplemental project which shall jointly\nmake up its project. The terms and provisions of each amended agreement,\nincluding the amount of approved costs, the amount of the tax credit pursuant to\nKRS 154.25 -030, the job maintenance requirement established by the agreement,\nand any limitations the authority may deem necessary, shall be determined by\nnegotiations between the authority and the approved company, except that each\nagreement shall include the following provisions:\n(a) Upon approval of a supplemental project, the amount the approved company\nmay recover through inducements for the initial project and any supplemental\nprojects shall be a negotiated percentage not to exc eed seventy -five percent\n(75%) of the eligible costs from the initial project and all newly incurred\neligible costs from any supplemental projects, subject to the annual maximum\nnegotiated and approved by the authority. At the time a supplemental project\nis approved, the recoverable amount and the annual maximum inducement for\nthe initial jobs retention project and any previous supplemental projects may\nalso be increased at the discretion of the authority pursuant to KRS 154.25 -\n030;\n(b) The activation date for a supplemental project shall be no more than three (3)\nyears from final approval of the supplemental project. Prior to the activation\ndate, the authority may extend the time for the completion of the jobs\nretention project and compliance with the required investment upon request of\nthe approved company for good cause; however, the ten (10) year period for\nthe term of the agreement shall begin from the activation date. Within three\n(3) months of the completion date for a supplemental project, the approve d\ncompany shall document the actual cost of the project in a manner acceptable\nto the authority. The authority may employ an independent consultant to\nverify the cost of the supplemental project subject to reimbursement for the\ncost of same from the approved company; and\n(c) In consideration of the execution of the amended agreement, on the date\nstated in the agreement, the approved company may be permitted during the\nterm of the amended agreement to take the inducements set forth in KRS\n154.25-030(2)(b), ( 2)(c), and (3)(a), subject to the remaining terms of that\nsection.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=57124","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:55Z","sha256":"81464af313eb5f007ad91b40193c9e9eb99694fb2ba78ab47eaa811f5d84a61c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.25-040","next":"us-ky/krs-154.250"},"notice":"GroundRules: Original legal text. Not legal advice."}