The KY TVA Counties Economic Development bill was rolled into a large revenue measure, House Bill 366<http://www.lrc.ky.gov/recorddocuments/bill/18RS/HB366/HCS1.pdf>, which was just passed by<https://twitter.com/KYREPROWLAND/status/969291867794890753> the full House and now heads over to the Senate.
It would return money to 39 counties in southern, western, and eastern Kentucky that are powered by or distribute for the Tennessee Valley Authority (TVA). The TVA region in Kentucky includes Adair, Allen, Ballard, Barren, Bell, Butler, Caldwell, Calloway, Carlisle, Christian, Clinton, Cumberland, Edmonson, Fulton, Graves, Grayson, Harlan, Hart, Henderson, Hickman, Livingston, Logan, Lyon, Marshall, McCracken, McCreary, Metcalfe, Monroe, Muhlenberg, Ohio, Russell, Simpson, Todd, Trigg, Union, Warren, Wayne, Webster and Whitley counties.
As a publicly-owned utility created by the federal government, the Tennessee Valley Authority is exempt from taxation, but instead makes payments to the State of Kentucky.
It adjusts the TVA in-lieu-of tax payment formula to ensure more dollars from the payments stay in the 39-county region for economic development needs.
The money could be used for job-attracting activities like land prep for industrial sites or infrastructure upgrades.
These investments would come at a critical time as communities must continually ready sites and upgrade critical infrastructure to attract business and create jobs. HB366 would mean $2 million to be evenly divided between the 39 counties in FY18-19, then $4 million to be to be evenly divided
between the 39 counties in FY 19-20.
A large coalition of 19 lawmakers<http://www.lrc.ky.gov/record/18RS/HB114.htm>, led by Rep. Bart Rowland championed the original bill in the House, HB114<http://www.lrc.ky.gov/record/18RS/HB114.htm>. Chairman Steve Rudy & subcommittee chairwoman, Suzanne Miles were instrumental as well. SB9<http://www.lrc.ky.gov/record/18RS/SB9.htm>, the original Senate bill has been championed by primary sponsor, Senator Stan Humphries & has 11 cosponsors<http://www.lrc.ky.gov/record/18RS/SB9.htm>. The bills had the support of Kentucky Association of Counties, the Kentucky League of Cities, regional and local chambers of commerce, industrial authorities, and elected officials.