{"data":{"id":"us-ky/krs-154.30-090","jurisdiction":"us-ky","citation":"KRS 154.30-090","heading":"Annual disbursement of tax incremental revenues.","body":"(1) (a) Any agency that enters into a tax incentive agreement for the release of\nincremental revenues shall, after each calendar year, in which a tax incentive\nagreement is in effect, notify the authority that incremental revenues are due,\nand in consultation with  the authority, the agency shall determine the amount\nof the incremental revenues due from the Commonwealth.\n(b) The agency shall present to the authority the total increment due from the\nCommonwealth. The authority shall review and verify the information\nsubmitted and shall certify the verified amount.\n(2) Upon certification of the total incremental revenues due from the Commonwealth\nby the authority, the Department of Revenue shall transfer the incremental revenues\nto a tax increment financing account est ablished and administered by the Finance\nand Administration Cabinet for payment of the Commonwealth's portion of the\nincremental revenues. Prior to disbursement by the Finance and Administration\nCabinet of the funds from the tax increment financing account , the authority shall\nnotify the Finance and Administration Cabinet that the agency is in compliance with\nthe terms of the tax incentive agreement. Upon notification, the Finance and\nAdministration Cabinet shall release to the agency the Commonwealth's por tion of\nthe total incremental revenues due under the tax incentive agreement.\n(3) The Department of Revenue shall have no obligation to refund or otherwise return\nany of the incremental revenues to the taxpayer from whom the incremental\nrevenues arose or a re attributable. Further, no additional incremental revenues\nresulting from audit, amended returns, or other activity for any period shall be\ntransferred to the tax increment financing account after the initial release to the\nagency of the Commonwealth's increment for that period.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2852","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:55Z","sha256":"911904e093c28fa87df7636ed49c834f495d4ed0cbc90dee6573ef494b760d6a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.30-080","next":"us-ky/krs-154.31-010"},"notice":"GroundRules: Original legal text. Not legal advice."}