Kentucky Statutes 154.20-020 – Authority to commit cabinet to projects — Exceptions
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(1) The secretary shall be authorized to commit the cabinet to any project or proposal, subject to approval of the committee as necessary except that any state incentive agreement requiring the participation of other agencies of state government shall require the concurrence of the board.
(2) No project shall be funded in whole or part by the authority unless first approved by its committee pursuant to administrative regulations promulgated by the board in accordance with KRS Chapter 13A.
(3) Lending decisions made by the authority shall be based, if possible, feasible, and not otherwise precluded by federal or state law, on utilizing state funds to leverage private sector investment.
Effective: July 15, 2020
History: Amended 2020 Ky. Acts ch. 36, sec. 6, effective July 15, 2020. — Amended
2005 Ky. Acts ch. 99, sec. 123, effective June 20, 2005. — Amended 2000 Ky. Acts ch. 330, sec. 2, effective July 14, 2000. — Amended 1998 Ky. Acts ch. 426, sec. 109, effective July 15, 1998. — Created 1992 Ky. Acts ch. 105, sec. 18, effective July 14,
1992.
(2) No project shall be funded in whole or part by the authority unless first approved by its committee pursuant to administrative regulations promulgated by the board in accordance with KRS Chapter 13A.
Terms Used In Kentucky Statutes 154.20-020
- Authority: means the Kentucky Economic Development Finance Authority, consisting of a committee as set forth in KRS §. See Kentucky Statutes 154.1-010
- Cabinet: means the Cabinet for Economic Development as established under KRS
12. See Kentucky Statutes 154.1-010 - Federal: refers to the United States. See Kentucky Statutes 446.010
- Private sector: means any source other than the authority, a state or federal entity,
or an agency thereof. See Kentucky Statutes 154.1-010 - Project: includes but is not limited to agribusiness, agricultural or forestry production, harvesting, storage, or processing facilities or equipment. See Kentucky Statutes 154.1-010
- State: means the Commonwealth of Kentucky. See Kentucky Statutes 154.1-010
(3) Lending decisions made by the authority shall be based, if possible, feasible, and not otherwise precluded by federal or state law, on utilizing state funds to leverage private sector investment.
Effective: July 15, 2020
History: Amended 2020 Ky. Acts ch. 36, sec. 6, effective July 15, 2020. — Amended
2005 Ky. Acts ch. 99, sec. 123, effective June 20, 2005. — Amended 2000 Ky. Acts ch. 330, sec. 2, effective July 14, 2000. — Amended 1998 Ky. Acts ch. 426, sec. 109, effective July 15, 1998. — Created 1992 Ky. Acts ch. 105, sec. 18, effective July 14,
1992.