HB 611: Rural Areas of Opportunity
GENERAL BILL by Beshears
Rural Areas of Opportunity; Increases value of tax credits for certain eligible businesses; provides additional tax credit for certain businesses located within rural area of opportunity; authorizes certain eligible businesses to apply for ad valorem tax reimbursement in specified amount; provides for sales tax refund for certain eligible businesses; increases maximum amount of grant funds that regionally based economic development organizations may receive from DEO; deletes provision that caps tax refund amount for certain qualified target industry business tax refund applicants; exempts certain businesses from requirement that tax refunds be reduced in absence of specified amount of local financial support; revises definition of term "rural enterprise zone" to include rural areas of opportunity; specifies that rural area of opportunity shall be designated as rural enterprise zone; renames "rural areas of critical economic concern" as "rural areas of opportunity."
Last Action: 5/2/2014 House - Died in Economic Development and Tourism Subcommittee, companion bill(s) passed, see CS/HB 7023 (Ch. 2014-218)
Bill Text: PDF
• Referred to Economic Development and Tourism Subcommittee; Finance and Tax Subcommittee; Economic Affairs Committee -HJ 52
• Introduced -HJ 52
• Died in Economic Development and Tourism Subcommittee, companion bill(s) passed, see CS/HB 7023 (Ch. 2014-218)
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