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

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House Bill 4, sponsored by House Budget Review Subcommittee on Transportation vicechairman Rep. Don Pasley, passed by a vote of 89-9. The bill allows the creatiomn of the Kentucky Public Transportation Infrastructure Authority to oversed the financing and construction of transportatioj projectsof $500 million of such as the Ohio River Bridgesa Project between Louisville and Southern Indiana, and an Interstate 69 bridge project near Henderson, Ky. The authoritgy also would oversee mega projects within the Such projects might be financed through revenue bonds paid for with Pasley said in anews release.
“We have some $12 billiobn to $13 billion in projects now on the radar that we have no feasibl e way topay for,” Pasley said in the release. He addeed that the creation of the infrastructurew authority might help Kentucky secure additional federal funding for large transportation projects. The second bill passed by the Housse Wednesday, House Bill 3, whicnh was sponsored by Rep. Tommy Thompson, It would provide tax incentives for existingy businesses to helpthem expand.
It also would add smal business tax credits and tax creditss and refundsfor high-tech businesses, in additiobn to expanding the criteria for properties that can qualif for tax increment financing districy programs. The bill, which passed the House by a 97-1 also provides a refundablee income tax credit for films produced in increases the cap on historic preservation spendingto $5 milliom from $3 million. The bill also providesz incentives for some ofKentucky Gov.
Steve Beshear’ws pet projects, including bringing a Sprinty Cup Series race to Kentucky Speedway andthe Breeder’x Cup World Championships to the state, and securing funding for a proposerd $600 million advanced battery factory in Hardin County. The bills will go to the Kentuckyh Senatefor consideration. House members now will turn thei r attention to a bill that seeks to bring videlo lottery terminalsto Kentucky’s horse racing tracksa and another that addresses the state’s projected $1 billio n budget shortfall. Those bill s are expected to come beforwe House committees laterthis week.