{"data":{"id":"us-ky/krs-65.7069","jurisdiction":"us-ky","citation":"KRS 65.7069","heading":"State Tax Increment Financing Commission -- Members -- Powers and","body":"duties -- Annual report.\n(1) The State Tax Increment Financing Commission is hereby created as an\nindependent agency of the state within the meaning of KRS Chapter 12. The\ncommission shall be composed of the following members:\n(a) The secretary of the Finance and Administration Cabinet, who shall be the\nchair thereof;\n(b) The state budget director;\n(c) The secretary of the Cabinet for Economic Development;\n(d) The secretary of the Tourism, Arts and Heritage Cabinet;\n(e) The chair of the Kentucky Economic Development Finance Authority;\n(f) The dean of the University of Kentucky Gatton College of Business and\nEconomics; and\n(g) The dean of the University of Louisville College of Business an d Public\nAdministration.\n(2) The commission shall review all applications for state participation in tax increment\nfinancing projects and shall approve those proposals it determines meet the\nrequirements established by KRS 65.7071, 65.7073, 65.7075, 65.707 7, 65.7079,\nand 65.7081.\n(3) Members of the commission shall serve without compensation, but may receive\nreimbursement for their actual and necessary expenses incurred in the performance\nof their duties.\n(4) Any four (4) members of the commission shall con stitute a quorum and shall by\nmajority vote be authorized to transact any and all business of the commission.\n(5) The commission shall meet at least two (2) times each year, but may meet more\nfrequently upon the call of the chair or a request made by any f our (4) members of\nthe commission.\n(6) The commission shall be attached to the Finance and Administration Cabinet for\nadministrative purposes and staff services. All cabinets, departments, divisions,\nagencies, and officers of the Commonwealth shall furnish  the commission with\nnecessary assistance, resources, information, records, or advice as it may require to\nfulfill its duties.\n(7) The commission shall prepare bylaws and shall establish procedures applicable to\nthe operations of the commission.\n(8) The commission shall have the authority to promulgate any regulations necessary\nfor the administration of KRS 65.7069, 65.7071, 65.7073, 65.7075, 65.7077,\n65.7079, and 65.7081 in accordance with KRS Chapter 13A.\n(9) On or before February 15, 2008, and each  year thereafter, the commission shall\nprovide the Governor and the Legislative Research Commission with an annual\nreport, which shall include but shall not be limited to the following for the prior\ncalendar year:\n(a) A list of applications considered by t he commission during the prior calendar\nyear, including the name of the applicant, a description of the project, the local\ntax revenues or other revenues pledged, the level of participation requested\nfrom the Commonwealth, and whether the application was approved; and\n(b) For each approved application, the report shall include:\n1. The total commitment made by the Commonwealth, detailed by type of\ntax and estimated incremental revenues pledged for each tax;\n2. The length of the commitment; and\n3. The portion of the development area included in the project.","path":["KRS Chapter 65"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=23484","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:49:22Z","sha256":"11637672be2214a6e9dd51a74d06767005ff73a1f2200ff11ff68d1aea321d83","source_id":"us-ky","stale":false,"prev":"us-ky/krs-65.7067","next":"us-ky/krs-65.7071"},"notice":"GroundRules: Original legal text. Not legal advice."}