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154.27.070 Sales and use tax incentives.

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Page 1 of 1 154.27-070 Sales and use tax incentives. (1) Notwithstanding KRS 134.580(3) and 139.770, on or after January 1, 2008, an approved company is eligible for an incentive in an amount up to one hundred <br>percent (100%) of the Kentucky sales and use tax paid, reduced by the vendor <br>compensation provided under KRS 139.570, on the purchase of tangible personal <br>property, including but not limited to materials, machinery, and equipment used to <br>construct, retrofit, or upgrade an eligible project. (2) The incentive shall not include tangible personal property purchased before the activation date or purchases of operating supplies, or repair, replacement, or spare <br>parts as defined in KRS 139.010. (3) Upon the activation date, an approved company may be eligible for the incentive offered under this section. The approved company shall file a request for the <br>incentive payment with the department as provided in KRS 139.517. (4) The incentive provided in this section shall expire upon the completion of the construction, retrofit, or upgrade of the eligible project, or five (5) years from the <br>activation date, whichever is earlier. Effective: August 1, 2008 <br>History: Amended 2008 Ky. Acts ch. 95, sec. 19, effective August 1, 2008. -- Created 2007 (2d Extra. Sess.) Ky. Acts ch. 1, sec. 7, effective August 30, 2007.