{"data":{"id":"us-ky/krs-154.30-080","jurisdiction":"us-ky","citation":"KRS 154.30-080","heading":"Requirement that minimal capital investment be made prior to the","body":"release of incremental revenues -- Escrow account -- Cancellation if agency\nfails to meet minimum investment -- Duties of authority to monitor agreements\nand track revenues.\n(1) (a) Prior to any incremental revenues being released by the Commonwealth for\nany project, the authority shall certify that the minimum capital investment has\nbeen made as required by the tax incentive agreement.\n(b) Incremental revenues received after th e activation date but prior to\ncertification of the minimum capital investment shall be retained by the\nCommonwealth until the minimum capital investment is certified by the\nauthority. The incremental revenues shall be released to the agency upon\ncertification. If the minimum capital investment is not certified within the\ntime period established by the authority, the incremental revenues shall be\nforfeited to the Commonwealth.\n(c) The tax incentive agreement shall be canceled and the approved agency shall\nnot be eligible for incentives if the agency fails to meet the minimum capital\ninvestment established by KRS 154.30-040, 154.30-050, or 154.30-060 on the\nactivation date.\n(2) The authority shall monitor all tax incentive agreements and shall verify for each\nproject expenditure identified as approved public infrastructure costs and where\napplicable, financing costs, approved signature project costs and expenses for land\npreparation, demolition and clearance.\n(3) The authority and the department shall track th e amount of incremental revenues\nreleased to each agency under each tax incentive agreement.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=48353","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:55Z","sha256":"e2cfaf6d210b5ceb51d189b76b39e0ea0bd175cbb130ae586f546f527ef60f2a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.30-070","next":"us-ky/krs-154.30-090"},"notice":"GroundRules: Original legal text. Not legal advice."}