Notwithstanding the maximum tax rates in KRS § 68.180, 68.197, and 91.200, a tax district which levies a tax on net profits may levy a tax rate that would generate approximately the same amount of revenues as the prior year plus normal revenue growth experienced by the tax district over the prior five (5) years. A tax district may invoke the provisions of this section only once.
Effective: June 24, 2003
History: Created 2003 Ky. Acts ch. 117, sec. 23, effective June 24, 2003.