AN ACT relating to review of financial incentives.

Create new sections of KRS Chapter 7A to establish the Financial Incentive Review Committee; define terms; specify committee membership, authority, powers and duties; establish requirements for meetings; establish requirements for how the General Assembly shall enact new financial incentives; require agencies to assign a unique identification number for purposes of reporting financial incentives; amend KRS 11.068 to require the annual production of a detailed estimate of the revenue loss resulting from each tax expenditure from…

Introduced: February 4, 2025

Last action: February 7, 2025

To Appropriations & Revenue (H)

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This bill would create a new legislative committee to review the financial incentives and tax breaks that Kentucky offers to businesses and other groups. It would require state agencies, including the departments of Revenue, Agriculture, and Economic Development, to track and report data on these incentives so lawmakers can see how much tax revenue the state gives up through them. The goal is to give the General Assembly better information when deciding whether existing or…

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