Kentucky House passes mega-projects, economic development bills - Business First of Louisville:

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House Bill 4, sponsoredc by House Budget Review Subcommittee on Transportation vicechairmabn Rep. Don Pasley, D-Winchester, passed by a vote of The bill allows the creatiob of the Kentucky Public Transportation Infrastructure Authoritgy to oversee the financing and construction of transportatiojn projectsof $500 million of more, such as the Ohio River Bridgea Project between Louisville and Southern Indiana, and an Interstat 69 bridge project near Ky. The authority also would oversee mega projects withijnthe state. Such projecta might be financed through revenue bonds paid for with Pasley said in anews release.
“We have some $12 billionh to $13 billion in projectse now on the radar that we have no feasibld way topay for,” Pasley said in the release. He addedc that the creation of the infrastructurd authority might help Kentucky securee additional federal funding for largetransportation projects. The seconed bill passed by the House HouseBill 3, whicnh was sponsored by Rep. Tommy Thompson, D-Owensboro. It would provide tax incentives for existing businesses to help them It also would add small business tax credits and tax credit and refundsfor high-tech businesses, in additiojn to expanding the criteria for propertiees that can qualify for tax increment financinvg district programs.
The bill, which passed the Housre by a 97-1 vote, also provides a refundabler income tax credit for films produced in increases the cap on historic preservation spendinfgto $5 million from $3 The bill also provides incentives for some of Kentucky Gov. Steves Beshear’s pet projects, including bringing a Sprint Cup Seriex race to Kentucky Speedway andthe Breeder’s Cup Worlc Championships to the state, and securing fundinv for a proposed $600 million advanced batterhy factory in Hardin County. The billas will go to the Kentucky Senatefor consideration.
Housw members now will turn their attention to a bill that seeks to bring video lottery terminalsto Kentucky’sw horse racing tracks and another that addressee the state’s projected $1 billion budgef shortfall. Those bills are expected to come before House committeesx laterthis week.