Kentucky Reinvestment Act (KRA) (Kentucky)
Last modified on February 12, 2015.
|Applies to States or Provinces||Kentucky|
|Name||Kentucky Reinvestment Act (KRA) (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|
|Program Administrator||Kentucky Cabinet for Economic Development|
The Kentucky Reinvestment Act (KRA) is a tax incentive available for up to 10 years from the date of final approval via tax credits of up to 100% of corporate income or limited liability entity tax liability generated by or arising from the project. The tax incentive remains in place until the authorized incentive amount is realized (up to 20% of the incentive per year) or for the term of the reinvestment agreement (up to 10 years), whichever occurs first. Unused credits that have been authorized for the project may be carried forward for the term of the reinvestment agreement, however, unused credits expire at the maturity of the agreement. The minimum requirements of incurring eligible equipment and related cost expenditures of at least $2,500,000 and maintaining 85 percent of the full-time employment level at the facility must be achieved in order to proceed with final approval.
|Contact Name||Sheri Fisher|
|Department||Kentucky Cabinet for Economic Development Department of Financial Incentives|
|Address||Old Capitol Annex, 300 West Broadway, Frankfort, Kentucky, 40601|
Authorities (Please contact the if there are any file problems.)
|Authority 1:||Kentucky Economic Development Finance Authority Kentucky Reinvestment Act|