Public Finance Alert
Kentucky Enterprise Initiative Act (KEIA)
The Enterprise Zone Act created by KRS 154.45-90 provided that the 10 enterprise zones in Kentucky would all ultimately expire within 20 years. All enterprise zones excluding Lexington and Owensboro (scheduled to expire December 31, 2005), Knox County (12/31/06), Campbell County and Paducah (12/31/07) and Hopkinsville (12/31/08) have expired. Full Story
Amendment to the Tourism Tax Credit Program
The General Assembly enacted amendments to the Tourism Tax Credit program effective July 15, 2005 raising the amount of maximum project costs that may be recouped through sales tax refunds from 25% to 50% and from 10 years to 20 years for tourism projects located on property owned by the Commonwealth of Kentucky or leased by the Commonwealth of Kentucky from the federal government and/or acquired for use in the state park system and operated by the Department of Parks or the Kentucky Horse Park Commission and, finally, on properties owned or leased by the federal government and identified as a national park. Full Story
Frost Brown Todd LLC Files Amicus Curiae Brief on Behalf of 10 Regional Chambers of Commerce
Brief filed in response to decision regarding constitutionality of tax incentives
On July 20, 2005, Frost Brown Todd filed an amicus curiae (friend of the court) brief on behalf of area Chambers of Commerce. This brief was filed in response to the Sixth Circuit Court of Appeals decision calling Ohio’s investment tax credit program unconstitutional. Full Story
