FRANKFORT, Ky. –Legislation co-sponsored by state Rep. Chris Harris would pave the way for Kentucky’s coal industry to qualify for the same types of economic development incentives that are available to the rest of Kentucky’s industries.
Under House Bill 202, coal mining or processing companies would qualify potentially for sales and use tax incentives offered through the Kentucky Enterprise Initiative Act (KEIA). Additionally, the legislation would allow these companies to potentially qualify for income tax incentives offered through the Kentucky Business Investment Act (KBI).
House Bill 202 also directs the state’s Cabinet for Economic Development to work with various agencies, foreign trade partners, and the Kentucky coal industry to promote increased exports of Kentucky coal. Co-sponsors of the legislation include members of the House Mountain Caucus and other lawmakers supportive of the state’s coal-producing counties.
On February 5, House Bill 202 was approved overwhelmingly by the House by an 89-0 vote and now goes to the Senate for its consideration. House Majority Floor Leader Rocky Adkins of Sandy Hook serves as primary sponsor of HB 202.
“House Bill 202 levels the playing field to allow Kentucky’s coal producers to qualify for the same kinds of economic development opportunities that are offered to the rest of Kentucky’s industries and those hoping to do business within the Commonwealth,” Rep. Harris aid. “In 2014, the House passed similar legislation overwhelmingly, but Senate leaders did not take final action on the bill. I’m hopeful my Senate colleagues will place their full support behind this legislation this time around as we work to support Kentucky’s coal industry and the thousands of jobs that depend on it.”
Rep. Chris Harris represents the state’s 93rd House District in Martin and Pike counties.