If the authority gives its preliminary approval designating an eligible company and authorizing the undertaking of an economic revitalization project prior to July 15, 1996, and the authority by final approval approves the eligible company as an approved company and the project of the eligible company as an economic revitalization project, and the authority and the eligible company enter into a revitalization agreement no later than June 30, 1997, then the approved company shall not be subject to KRS § 154.26-080 and KRS § 154.26-090(1) and shall be subject to KRS § 154.26-080 and KRS § 154.26-090(1) as in effect prior to July 15, 1996.
Effective: July 15, 1996

Terms Used In Kentucky Statutes 154.26-110

  • 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
  • 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
  • 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

History: Created 1996 Ky. Acts ch. 194, sec. 49, effective July 15, 1996.

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