If an eligible company has not received preliminary approval on or before June 30, 2021, the eligible company shall not receive final approval by the authority to become an approved company under this subchapter. Outstanding eligible companies with preliminary or final approval granted on or before June 30, 2021, shall continue to be governed by this subchapter and KRS § 141.403.
Effective: June 29, 2021

Terms Used In Kentucky Statutes 154.26-087

  • Authority: means the Kentucky Economic Development Finance Authority created by KRS §. See Kentucky Statutes 154.26-010
  • Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Eligible company: means any corporation, limited liability company, partnership, limited partnership, sole proprietorship, business trust, or any other entity:
    (a) Employing or intending to employ full-time a minimum of twenty-five (25) persons engaged in manufacturing or agribusiness operations at the same facility, whether acquired, owned, or leased, located and operating within the Commonwealth on a permanent basis for a reasonable period of time preceding the request for approval by the authority of an economic revitalization project, including facilities where manufacturing or agribusiness operations has been temporarily suspended and which meets the standards promulgated by the authority pursuant to KRS §. See Kentucky Statutes 154.26-010
  • Final approval: means the action taken by the authority authorizing the eligible company to receive inducements under this subchapter. See Kentucky Statutes 154.26-010
  • Preliminary approval: means the action taken by the authority conditioning final approval by the authority upon satisfaction by the eligible company of the requirements under this subchapter. See Kentucky Statutes 154.26-010

History: Created 2021 Ky. Acts ch. 185, sec. 130, effective June 29, 2021.

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