{"data":{"id":"us-ky/krs-154.50-020","jurisdiction":"us-ky","citation":"KRS 154.50-020","heading":"Legislative findings of fact -- Purpose of KRS 154.50-020 to 154.50-030.","body":"(1) It is hereby found, determined, and declared as a legislative finding of fact that the\ngeneral welfare of the citizens of the Commonwealth is directly related to the\neconomic and employment opportunities available to them, and it is the legitimate\nbusiness of the Kentucky state government to provide to the maximum extent\npracticable, the impetus for and assistance to economic development in the\nCommonwealth through the provision of monetary assistance to industrial entities\nfor industrial improvement p rojects which will directly and proximately cause the\nimprovement and retention of industry and employment in the Commonwealth.\n(2) It is hereby further found, determined, and declared as a legislative finding of fact\nthat the improvement and retention of manufacturing, processing, and assembling\nfacilities will proximately result in:\n(a) The creation or retention of employment opportunities; or\n(b) The creation or retention of tax revenues to the Commonwealth, as a taxing\nentity, which would not be availab le to the citizens of the Commonwealth or\nreceived by the Commonwealth but for the improvement and retention of the\nfacilities and which creation or retention of employment opportunities or tax\nrevenues are hereby found, determined, and declared to constit ute receipt of\nvalue by the Commonwealth for the monetary assistance which it may provide\npursuant to KRS 154.50 -020 to 154.50 -030 to industrial entities undertaking\nindustrial improvement projects located in this state.\n(3) It is the purpose of KRS 154.50-020 to 154.50-030 to promote and foster the gainful\nemployment, business, and economic development opportunities and general\nwelfare of the citizens and residents of the Commonwealth which will result in the\nalleviation or prevention of unemployment and t he general stability of the economy\nof Kentucky. This purpose will be accomplished by the creation of the authority to\nenable the Commonwealth to provide monetary assistance to industrial entities, for\nthe improvement and retention of industrial manufactur ing, processing, or\nassembling facilities in the Commonwealth which, in return, will create or retain\nemployment opportunities for citizens of the Commonwealth or will create or retain\ntax revenues. The authority granted by KRS 154.50 -020 to 154.50 -030 and  the\npurposes to be accomplished by KRS 154.50-020 to 154.50-030 are hereby declared\nto be public purposes for which public money may be expended.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2957","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:57Z","sha256":"58354e19a02096e751aba5eb83c4852c66e608ac3608ceecbad52b295a79794d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.48-035","next":"us-ky/krs-154.50-030"},"notice":"GroundRules: Original legal text. Not legal advice."}