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Kentucky Lawmakers OK $350 Million in ‘Front-Loaded’ Incentives

Sept. 10, 2021, 1:12 AM

Businesses investing more than $2 billion in Kentucky development would have the option to receive a “front-loaded” state incentive instead of tax credits under a bill lawmakers sent to Gov. Andy Beshear’s desk on Thursday.

The bill (H.B. 5, S.B. 5) allows the state to provide a forgivable loan in the amount of the estimated incentives that a company could receive under current economic development incentives, such as income tax breaks. The measure, which caps the maximum amount of the incentive at $350 million, passed 30-3 in the Senate and 91-2 in the House.

“Kentucky is in ...