{"data":{"id":"us-ky/krs-154.34-080","jurisdiction":"us-ky","citation":"KRS 154.34-080","heading":"Reinvestment agreement -- Terms and provisions.","body":"The authority, upon final approval of a company, may enter into a reinvestment\nagreement with the approved company. The terms and conditions of the reinvestment\nagreement shall be negotiated between the authority and the approved company. The\nterms of the reinvestment agreement shall include but not be limited to the following\nprovisions:\n(1) That the authority may employ an independent consultant or utilize technical\nresources to verify the cost of the project, and that the approved company shall\nreimburse the authority for the cost of a consultant or other technical resources\nemployed by the authority;\n(2) The maximum approved costs that may be recovered, and that the amount of\nincentives allowed in any year shall not exceed twenty percent (20%) of the tot al\namount of the approved costs;\n(3) A set employment retention goal, which shall be at least eighty -five percent (85%)\nof the number of full -time employees employed at the facility on the date the\ncompany receives preliminary approval;\n(4) That approval of the company is not a guarantee of incentives and that eligibility for\nincentives shall be contingent on the approved company meeting the requirements\nestablished by the reinvestment agreement and this subchapter;\n(5) The term of the reinvestment agreemen t, which shall not be longer than the earlier\nof:\n(a) The date on which the approved company has received incentives equal to the\napproved costs of its reinvestment project; or\n(b) Ten (10) years from the date of final approval granted by the authority;\n(6) That the authority may reduce the incentives, suspend the incentives, or terminate\nthe agreement if the approved company fails to comply with provisions of the\nreinvestment agreement;\n(7) That both the authority and the department shall have the right to  pursue any\nremedy provided under this reinvestment agreement and any other remedy at law to\nwhich it may be entitled;\n(8) That the approved company shall make available to the department and the\nauthority all of its records pertaining to the reinvestment project, including but not\nlimited to payroll records, records relating to the expenditure of eligible equipment\nand related costs, and approved costs, and any other records pertaining to the project\nas the authority or the department may require;\n(9) That the authority may share information with the department for the purposes of\nmonitoring and enforcing the terms of the reinvestment agreement;\n(10) That the agreement shall not be transferred or assigned by the approved company\nwithout the expressed written consent of the authority; and\n(11) Any other provisions not inconsistent with this subchapter and determined to be\nnecessary or appropriate by the parties to the reinvestment agreement.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51559","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:56Z","sha256":"01f09f5f62ec40a0eb1dcdfec5c5ad46942dffb16e39dfc3cc0e2173a093e1d0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.34-070","next":"us-ky/krs-154.34-090"},"notice":"GroundRules: Original legal text. Not legal advice."}