Bill > HB869

This bill establishes an "economic development credit" for approved companies starting in taxable years beginning on or after January 1, 2026, with a total annual cap of $4 million for all companies, and specifies that no more than $1 million of this can be for wages in counties that are not designated as "heritage counties" (counties with a population ranking score of 97 or higher). It also amends existing laws to adjust various economic development incentives, including those for skills training investment credits, tourism development projects, film production, and angel investors, often by introducing or modifying provisions related to "heritage counties" and increasing certain credit or investment thresholds. Additionally, the bill directs the Cabinet for Economic Development to study interstate reciprocity for economic development programming and to promote jobs created through incentive programs in collaboration with the Kentucky Community and Technical College System. It also includes provisions related to the tax treatment of alternative jet fuel production, a new credit for mixed-use building rehabilitation, and changes to various other tax and fiscal matters, including the repeal of a section related to "enhanced incentive counties."

Budget and Finance, Business and Industry

https://apps.legislature.ky.gov/record/26RS/hb869.html