Bill seeks to boost tracking of economic programs

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Associated Press

Posted on January 16, 2014 at 7:02 PM

FRANKFORT, Ky. (AP) — A Kentucky House committee has approved legislation to enhance efforts to monitor economic development incentives offered to lure companies to the state.

Speaker Pro Tem Larry Clark of Louisville says his bill would enable lawmakers to keep track of economic development investments made by the state.

The measure sailed through the House Economic Development Committee on Thursday.

Many of Kentucky's programs aimed at luring new businesses are performance-based tax incentives, meaning a company must meet certain job and wage requirements.

The measure would require state economic development officials to maintain an electronic database on their agency's website that includes details about the cost and status of various incentive programs.

The information would include the name of recipients, the amount of incentives approved, the type of business project and the location.

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The legislation is House Bill 17.

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