Kentucky House passes mega-projects, economic development bills - Denver Business Journal:

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House Bill 4, sponsored by House Budgegt Review Subcommittee on Transportation vicechairman Rep. Don D-Winchester, passed by a vote of 89-9. The bill allowas the creation of the Kentuckyy Public Transportation Infrastructure Authority to oversee the financint and construction of transportation projectsof $500 million of more, such as the Ohio River Bridgess Project between Louisville and Southern Indiana, and an Interstate 69 bridger project near Henderson, Ky. The authorithy also would oversee mega projectsx withinthe state. Such projects might be financeds through revenue bonds paid for with Pasley said in anews release.
“Wde have some $12 billion to $13 billion in projects now on the radare that we have no feasiblee way topay for,” Pasley said in the He added that the creatiojn of the infrastructure authority mightt help Kentucky secure additional federal fundingf for large transportation projects. The second bill passed by the Housew Wednesday, House Bill 3, whichn was sponsored by Rep. Tommy D-Owensboro. It would provide tax incentives for existing businesses to help them It also would add small business tax credits and tax creditsd and refundsfor high-tech in addition to expanding the criteria for propertiezs that can qualify for tax increment financinb district programs.
The bill, whicu passed the House by a 97-1 vote, also providesa a refundable income tax creditt for films producedin Kentucky, increases the cap on historic preservationm spending to $5 milliohn from $3 million. The bill also provides incentives for some ofKentucky Gov. Steve Beshear’s pet projects, including bringing a Sprinr Cup Series race to Kentucky Speedwayg andthe Breeder’s Cup World Championshipsd to the state, and securinh funding for a proposed $600 million advanced battergy factory in Hardin County. The bills will go to the Kentuckyg Senatefor consideration.
House members now will turn thei r attention to a bill that seeks to bring videol lottery terminalsto Kentucky’s horsre racing tracks and another that addresses the state’xs projected $1 billion budget shortfall. Thosd bills are expected to come befor House committees laterthis