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HB 611 (2014) -  Rural Areas of Opportunity

by Beshears
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."
Effective Date: July 1, 2014
Last Event: Died in Economic Development & Tourism Subcommittee; companion bill(s) passed, see CS/HB 7023 (Ch. 2014-218) on Friday, May 2, 2014 10:39 PM

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Economic Development & Tourism Subcommittee; companion bill(s) passed, see CS/HB 7023 (Ch. 2014-218) Time: 05/02/2014 - 10:39 PM Member: Committee: Economic Development & Tourism Subcommittee Version: __
Event: H 1st Reading Time: 03/04/2014 - 11:50 PM Member: Committee: Version: __
Event: H Now in Economic Development & Tourism Subcommittee Time: 01/27/2014 - 5:35 PM Member: Committee: Economic Development & Tourism Subcommittee Version: __
Event: H Referred to Economic Affairs Committee Time: 01/27/2014 - 5:35 PM Member: Committee: Economic Affairs Committee Version: __
Event: H Referred to Finance & Tax Subcommittee Time: 01/27/2014 - 5:35 PM Member: Committee: Finance & Tax Subcommittee Version: __
Event: H Referred to Economic Development & Tourism Subcommittee Time: 01/27/2014 - 5:35 PM Member: Committee: Economic Development & Tourism Subcommittee Version: __
Event: H Filed Time: 01/15/2014 - 2:03 PM Member: Beshears Committee: Version: __