Kentucky Economic Opportunity Zone Program (KEOZ) (Kentucky)

This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search


Last modified on February 12, 2015.

EZFeed Policy

Place Kentucky


   
Applies to States or Provinces Kentucky
Name Kentucky Economic Opportunity Zone Program (KEOZ) (Kentucky)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes

Implementing Sector State/Province



























Program Administrator Kentucky Cabinet for Economic Development
Primary Website http://www.lrc.ky.gov/kar/307/007/010.htm



Last Review 2014-09-15


Information Source Kentucky's Financial Incentives Database: http://www.thinkkentucky.com/fireports/FISearch.aspx ; Kentucky Economic Opportunity Zone Act (KEOZ) Fact Sheet 7/2005: http://www.whitleycountyfiscalcourt.com/pdf/KEOZ.pdf


Summary

The Kentucky Economic Opportunity Zone Program (KEOZ) focuses on the development of areas with high unemployment and poverty levels. The program provides an income tax credit of up to 100% of the Kentucky income tax liability on income generated by or arising out of the project. The approved company may require each qualified statewide employee, as condition of employment, to agree to pay a job development assessment fee not to exceed 5% of gross wages, with a 1% contribution from local government and up to 4% contribution from the state. The minimum company investment required to qualify for the program is $100,000 in the project.



Policy Contact

Contact Name Chuck Willis
Department Kentucky Cabinet for Economic Development Department of Financial Incentives





Phone 502.564.4554 x 3332

Fax 502.564.7697
Email chuck.willis@ky.gov
Website http://thinkkentucky.com
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: 307 KAR 7:010. Procedures and standards for certification and approval of eligibility




Authority 2: 103 KAR 18:220. Kentucky Economic Opportunity Zone job development assessment fee




Authority 3: KRS 154.23-005 to 154.23-079 Kentucky Economic Opportunity Zone Act


















References