{"data":{"id":"us-ky/krs-154.50-030","jurisdiction":"us-ky","citation":"KRS 154.50-030","heading":"Expenditure of funds to industrial entities.","body":"(1) In carrying out the purposes of KRS 154.50-020 to 154.50-030, and in providing for\nthe expenditure of funds to industrial entities to assist in the implementation of an\nindustrial improvement project, the cabinet may find that the cost may be paid in\nwhole or in part out of funds directly appropriated to the responsible state agency\nfor that purpose or by any other method approved by the Governor and the General\nAssembly.\n(2) In carrying out the purposes of KRS 154.50-020 to 154.50-030, and in providing for\nthe expenditure of funds to industrial entities which are appropriated by the General\nAssembly to assist in the implementation of an industrial improvement project, the\ncabinet may determine the amount of monetary assistance to be provided by\nreference to any formula or other objective standard which is based on target levels\nof employment, projected interest rates or other financing costs, projected levels of\ninvestment by the industrial entity or any other objective criteria deemed\nappropriate by the cabinet under the circumstances.\n(3) (a) In carrying out the purposes of KRS 154.50 -020 to 154.50 -030, the\nexpenditure of funds to industrial entities to assist in the implementation of an\nindustrial improvement project may only be made if:\n1. There is a find ing by the cabinet, that, based upon reasonable\ninvestigation, the industrial improvement project cannot be funded out\nof existing appropriations and is in the best interest of the\nCommonwealth because it is reasonably expected to result in the\ncreation or retention in whole or in part of employment opportunities or\nof tax revenues;\n2. The industrial improvement project is separately approved in writing by\nthe Governor;\n3. The industrial improvement project is separately approved by the\nGeneral Assembly; and\n4. There is an agreement in writing by the subject industrial entity to\nengage in the industrial improvement project setting forth the basis upon\nwhich the amount of monetary assistance provided pursuant to KRS\n154.50-020 to 154.50-030 is determined.\n(b) It is hereby determined and declared as a legislative finding of fact that the\nprovisions and requirements of paragraph (a) of this subsection provide for the\nreceipt by the Commonwealth of fair market value for any monetary\nassistance provided pursuant to KRS 154.50-020 to 154.50-030.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=2958","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:57Z","sha256":"3d5141b2d61a85d85871c3497e004ae38ef1c76f1fa0cb79df54747a5488b4d3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-154.50-020","next":"us-ky/krs-154.50-301"},"notice":"GroundRules: Original legal text. Not legal advice."}