Kentucky Reinvestment Act (KRA) (Kentucky)

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Last modified on February 12, 2015.

EZFeed Policy

Place Kentucky


   
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
Active Policy Yes

Implementing Sector State/Province



























Program Administrator Kentucky Cabinet for Economic Development
Primary Website http://www.lrc.ky.gov/kar/307/009/010.htm



Last Review 2014-09-15


Information Source http://www.thinkkentucky.com/kyedc/pdfs/KRAFactSheet.pdf


Summary

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.



Policy Contact

Contact Name Sheri Fisher
Department Kentucky Cabinet for Economic Development Department of Financial Incentives

Address Old Capitol Annex, 300 West Broadway, Frankfort, Kentucky, 40601



Phone 502-782-1977


Email sheri.fisher@ky.gov
Website http://www.thinkkentucky.com/kyedc/pdfs/KRAFactSheet.pdf
     
     

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

Authority 1: Kentucky Economic Development Finance Authority Kentucky Reinvestment Act
Date Effective 6/2011



















References