{"data":{"id":"us-ky/krs-65.7057","jurisdiction":"us-ky","citation":"KRS 65.7057","heading":"Permitted sources for local funding for redevelopment assistance or","body":"projects -- Special assessments -- Local participation agreement required.\n(1) To provide funding for redevelopment assistance or projects in a development area\nor projects in a local development area:\n(a) Any taxing authority may, in addition to any other pledge permitted by law to\nsecure its obligations, pledge up to one hundred percent (100%) of the\nincremental local tax revenues generated in the development area or local\ndevelopment area or from a project within the development area or local\ndevelopment area for up to thirty (30) years from the activation date;\n(b) The amount of incremental revenues shall be determined for each type of tax\nseparately; and\n(c) Local tax revenues from  a development area that have not been pledged to\nsupport redevelopment assistance or projects within the development area, or\nfrom a local development area that have not been pledged to support projects\nwithin the local development area, may be used to su pport other economic\ndevelopment projects, provided that local tax revenues shall not be pledged\nmore than once. Thus, local tax revenues pledged to support increment bonds\nissued for the development area or local development area shall not also be\npledged to support a specific project within the development area or local\ndevelopment area, and those revenues shall not be pledged to support any\nother program, development, or undertaking.\n(2) Any city may pledge revenues collected under a special assessment i mposed under\nKRS 91A.200 to 91A.290 to support projects or the provision of redevelopment\nassistance within a development area, or to support projects within a local\ndevelopment area, and may pledge revenues collected from the assessment to\nsupport increment bonds.\n(3) Any county may levy a special assessment under the terms and conditions\nestablished for cities under KRS 91A.200 to 91A.290 to support projects or the\nprovision of redevelopment assistance within a development area, or to support\nprojects within a local development area, and may pledge revenues collected from\nthe assessment to support increment bonds.\n(4) Any city, county, or combination of cities and counties establishing a development\narea or a local development area may pledge revenues coll ected pursuant to the\noccupational license fee permitted by KRS 65.7056.\n(5) Any pledge of incremental revenues or other revenues related to a development area\nby a taxing district shall be accomplished through the execution of a local\nparticipation agreement in accordance with KRS 65.7063.\n(6) Any pledge of incremental revenues or other revenues related to a local\ndevelopment area by a taxing district shall be accomplished through the execution\nof a local development area agreement in accordance with KRS 65.7047.","path":["KRS Chapter 65"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23478","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:22Z","sha256":"7eb2fc7f4cd376a807dcbfab40dd8fe931b1de8bdf77266d8431db2e8622968f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-65.7056","next":"us-ky/krs-65.7059"},"notice":"GroundRules: Original legal text. Not legal advice."}