{"data":{"id":"us-ky/krs-154.32-060","jurisdiction":"us-ky","citation":"KRS 154.32-060","heading":"Rehabilitation, replacement, or expansion of existing facilities --","body":"Criteria for approval as economic development project.\n(1) The authority shall not approve an economic development project that otherwise\nmeets the requirements of this su bchapter if the economic development project will\nresult in the replacement of facilities existing in the state, except as provided in this\nsection.\n(2) The authority may approve an economic development project that:\n(a) Rehabilitates an existing facility used for activities of an eligible company, if:\n1. The facility has not been in operation for a period of ninety (90) or more\nconsecutive days; or\n2. a. The current occupant of the facility has advertised a notice of\nclosure; and\nb. The eligible company pr oposing the economic development\nproject is not an affiliate of the current occupant of the facility; or\n3. a. The facility is sold or transferred pursuant to a foreclosure ordered\nby a court of competent jurisdiction or an order of a bankruptcy\ncourt of competent jurisdiction; and\nb. The title to the facility prior to the sale is not vested in the eligible\ncompany or an affiliate of the eligible company; or\n4. The existing facility is rehabilitated to enable a business to produce vital\nmedications, personal protective equipment, or equipment necessary to\nproduce personal protective equipment;\n(b) Replaces an existing facility of an eligible company if:\n1. a. Title to the facility:\ni. Is held by exercise of the power of eminent domain; or\nii. May be taken pursuant to a nonappealable judgment\ngranting authority to exercise the power of eminent\ndomain; and\nb. Normal operations at the facility cannot be resumed within twelve\n(12) months; or\n2. The facility has been damaged or destroyed by fire or other  casualty to\nthe extent that normal operations cannot be resumed at the facility\nwithin twelve (12) months; or\n3. The existing facility is replaced to enable a business to produce vital\nmedications, personal protective equipment, or equipment necessary to\nproduce personal protective equipment; or\n(c) Replaces an existing facility located in the same county if the existing facility\ncannot be expanded due to the unavailability of real estate at or adjacent to the\nfacility to be replaced. Any economic developm ent project satisfying the\nrequirements of this paragraph shall be eligible for incentives under this\nsubchapter only to the extent of the expansion. No incentives shall be\navailable for the equivalent of the facility to be replaced or rehabilitated.\n(3) The authority shall not approve an economic development project under this section\nwhich results in a lease abandonment or lease termination by the approved company\nwithout the consent of the lessor.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51556","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:56Z","sha256":"0f565d7429f2d050161cb4397a8be61a59fbfefbaf0ec8457c590933e658cb95","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.32-050","next":"us-ky/krs-154.32-070"},"notice":"GroundRules: Original legal text. Not legal advice."}