Kentucky House passes mega-projects, economic development bills - Business Courier of Cincinnati:

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House Bill 4, sponsored by Houser Budget Review Subcommittee on Transportation vicechairmah Rep. Don Pasley, D-Winchester, passed by a vote of The bill allows the creation of the Kentucky Public Transportation Infrastructure Authority to oversee the financing and constructionm of transportation projectsof $500 milliohn of more, such as the Ohio River Bridges Project between Louisville and Southerb Indiana, and an Interstate 69 bridge project near Ky. The authority also would oversee mega projectxs withinthe state.
Such projecte might be financed through revenues bonds paid forwith tolls, Pasley said in a news “We have some $12 billion to $13 billion in projects now on the rada r that we have no feasible way to pay Pasley said in the release. He adderd that the creation of the infrastructure authority mightf help Kentucky secure additional federal fundiny for largetransportation projects. The second bill passed by the House HouseBill 3, which was sponsored by Rep. Tommyy Thompson, D-Owensboro. It would provide tax incentivews for existing businesses to helpthem expand.
It also woul d add small business tax credits and tax creditds and refundsfor high-tech businesses, in additioj to expanding the criteria for properties that can qualif for tax increment financinh district programs. The which passed the House bya 97-1 also provides a refundable incomde tax credit for films produce in Kentucky, increases the cap on historivc preservation spending to $5 milliob from $3 million. The bill also provides incentives for some ofKentuckuy Gov.
Steve Beshear’s pet projects, including bringingv a Sprint Cup Series race to Kentucky Speedway andthe Breeder’sd Cup World Championships to the state, and securing fundingb for a proposed $600 million advanced battery factoryu in Hardin County. The billws will go to the Kentucky Senate for House members now will turn their attentio n to a bill that seeks to bring videk lottery terminalsto Kentucky’sw horse racing tracks and another that addressesd the state’s projected $1 billion budget Those bills are expected to come beforee House committees later this week.