Page 1 of 1 LRC 2025-BR1340-HB707
COMMONWEALTH OF KENTUCKY FISCAL NOTE STATEMENT
LEGISLATIVE RESEARCH COMMISSION
2025 REGULAR SESSION
MEASURE
2025 BR NUMBER 1340 HOUSE BILL NUMBER 707
TITLE AN ACT relating to regional industrial taxing districts.
SPONSOR Representative Deanna Gordon
FISCAL SUMMARY
STATE FISCAL IMPACT: YES NO UNCERTAIN
OTHER FISCAL STATEMENT (S) THAT MAY APPLY: ACTUARIAL ANALYSIS
LOCAL MANDATE CORRECTIONS IMPACT HEALTH BENEFIT MANDA TE STATE
EMPLOYEE HEALTH PLAN IMPACT
APPROPRIATION UNIT(S) IMPACTED:
FUND(S) IMPACTED: GENERAL ROAD FEDERAL RESTRICTED
FISCAL ESTIMATES 2024-2025 2025-2026 ANNUAL IMPACT AT FULL
IMPLEMENTATION
REVENUES
EXPENDITURES
NET EFFECT
( ) indicates a decrease/negative
PURPOSE OF MEASURE: HB 707 proposes to allow two or more local governments
constituting a multicounty region to enter into an agreement and form a regional industrial taxing
district for the purposes of constructing a regional economic development project. The project
must consist of 300 or more contiguous acres and create 500 or more jobs. It provides the district
the authority to levy a property tax and provides local governments within the district the
authority to impose occupational license fees. As part of the agreement, a board must be created
to control and manage the affairs of the district.
FISCAL EXPLANATION: HB 707 pertains to local governments and is not expected to have a
fiscal impact for the state.
DATA SOURCE(S): LRC Staff
PREPARER: Cynthia Brown NOTE NUMBER: 153 REVIEW: JMR DATE: 3/6/2025