{"data":{"id":"us-ky/krs-154.26-080","jurisdiction":"us-ky","citation":"KRS 154.26-080","heading":"Standards for determination of eligibility -- Review of application","body":"-- Request  for emergency  declaration -- Authorizing resolution --\nApplication for and approval of supplemental projects -- Meetings.\n(1) The  authority shall establish standards for the determination and approval of\neligible companies and their projects by the promulgation of administrative\nregulations in accordance with KRS Chapter 13A.\n(2) The  criteria for approval of eligible companies and economic revitalization\nprojects or supplemental projects shall include but not be limited to the:\n(a) Need  for the project;\n(b) New  capital investment in the project or supplemental project that will\nresult in financial stability for the manufacturing or coal mining and\nprocessing facility; and\n(c) Retention or expansion of the greatest number  of employees at the\nmanufacturing or coal mining and processing facility.\n(3) With respect to each eligible company  making an application to the authority\nfor inducements, and with respect to the project described in the application,\nthe authority shall make  inquiries and request materials of the applicant,\nincluding but not limited to written evidence that except for a substantial\ninvestment in the project, assisted by the inducements authorized by KRS\n154.26-015 to 154.26-100, the eligible company will:\n(a) Close its manufacturing or coal mining and processing facility; and\n(b) Permanently lay off its employees and cease operations; or\n(c) Not  resume  operations of a  closed facility as  permitted by  KRS\n154.26-010(9).\n(4) The eligible company shall, in a manner acceptable to the authority, detail the\ncondition of the facility, including but not limited to financial, efficiency, and\nproductivity matters; explain in detail why the company  intends to close the\nfacility or not resume  operations of the facility as  permitted by  KRS\n154.26-010(9); and set out alternatives that are available to the company.\n(5) As  a part of its application, an eligible company  as described in KRS\n154.26-010(10)(b) may  request an emergency  declaration based upon the\nurgency of the request and its impact on the local or regional economy.\n(6) A request for an emergency declaration shall be reviewed by the secretary of\nthe Cabinet for Economic Development, the secretary of the Education and\nLabor Cabinet, and the secretary of the Finance and Administration Cabinet\nand  their findings in connection with the emergency  declaration shall be\ndelivered to the authority.\n(7) If the emergency declaration is granted in accordance with subsection (6) of\nthis section, the eligible company  shall not be subject to the requirements\ncontained in subsection (8), (9), or (11) of this section.\n(8) In accordance with, and after the adoption of a resolution under subsection\n(10) of this section, the authority shall engage the services of a competent\nconsulting firm or technical resource to analyze the data made available by the\ncompany,  and to collect and analyze additional information necessary to\ndetermine that, in the independent judgment of the consultant, the company\nwill close the facility or not resume operations of the facility as permitted by\nKRS  154.26-010(9) absent a substantial investment in the project, assisted by\nthe inducements authorized by KRS  154.26-015 to 154.26-100. The company\nshall pay the cost of this evaluation.\n(9) The  company  shall cooperate with the consultant and provide all of the data\nwhich  could reasonably be  required by the consultant to make  a  fair\nassessment  of the company's intentions to close the facility or not resume\noperations of the facility as permitted by KRS 154.26-010(9).\n(10) After a review of relevant materials and completion of inquiries, the authority\nmay,  by resolution, give its preliminary approval by designating an eligible\ncompany  as a preliminarily-approved company and authorizing the undertaking\nof the economic revitalization project.\n(11) The  authority shall review the report of the consultant and other information\nwhich  has been  made  available to it in order to assist the authority in\ndetermining whether the company intends to close the facility for valid reasons\nor whether it intends or is able to resume  operations of the facility in\naccordance with the requirements of KRS  154.26-010(10)(b) if inducements\nare granted. The  authority shall determine the potential of the proposed\nrevitalization project to make the facility stable, productive, and competitive in\nits market.\n(12) After the review of the consultant's report or if an emergency declaration has\nbeen  issued in accordance with subsection (6) of this section, the authority\nshall hold a public hearing to solicit public comment from any person, group, or\ninterested party regarding the proposed project.\n(13) After the public hearing, the authority, by resolution, may:\n(a) Declare the jobs then existing at the facility to be lost or the company\nunable to resume operations as permitted by KRS 154.26-010(9);\n(b) Give its final approval to the eligible company's application for a project;\nand\n(c) Grant to the eligible company the status of an approved company.\nThe  decision reached by the authority shall be final and no appeal shall be\ngranted.\n(14)(a) During the initial term of an agreement, or within sixty (60) months after\nthe expiration of the term, an eligible company  may  apply for, and the\nauthority may approve, a supplemental project when the applicant:\n1. Has  expended  approved costs of at least fifty million dollars\n($50,000,000) on an approved economic revitalization project;\n2. Employs  a minimum of one hundred (100) employees at the site of\nthe economic revitalization project;\n3. Agrees to incur at least five million dollars ($5,000,000) in additional\neligible costs for improvements to a blast furnace that:\na. Is located at the economic revitalization project;\nb. Has  burned at least one million (1,000,000) tons of Kentucky\ncoal during the initial term of the agreement; and\nc. Was  idled due to unfairly traded imports of carbon steel, with\nresulting layoffs of more  than five hundred  fifty (550)\nemployees; and\n4. Is at risk of closure and carries a significant net loss carry forward\nfor the last three (3) tax years as certified by the approved company.\n(b) The  authority may  approve a  supplemental project by  resolution,\nauthorizing the execution of a supplemental project agreement.\n(15) All meetings of the authority shall be held in accordance with KRS  61.805 to\n61.850. The authority may, pursuant to KRS 61.815, hold closed sessions of its\nmeetings  to discuss matters exempt  from the open  meetings law and\npertaining to an eligible company.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=52366","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:55Z","sha256":"92603073a2abf279573e582af5ad5eb3397e474039d68ee18f4fff94ec010b30","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.26-070","next":"us-ky/krs-154.26-085"},"notice":"GroundRules: Original legal text. Not legal advice."}