TVA goes to floor

House Bill 114, TVA in-lieu-of-taxes bill, passed the Senate Appropriations and Revenue Committee unanimously Tuesday morning.  This legislation is sponsored by Rep. Bart Rowland and the same bill language is sponsored in the Senate by Sen. Stan Humphries.

The TVA in-lieu-of-tax bill will give 39 Kentucky counties funds for economic development each year. That money would come from a portion of tax that the TVA pays the state. That portion of money would be redirected back to the 39 counties that are powered by the Tennessee Valley Authority (TVA) and used for job-attracting activities like preparing or acquiring land for industrial sites or building or upgrading water, sewer and other infrastructure.  

It appears that this legislation will be successful in this session. Sen. Stan Humphries of Cadiz says that the TVA bill is in the revenue portion of the governor's budget. The overwhelming support shown by the House vote is also a great sign. Rep. Kenny Imes of Murray says that this is the first time in a long time that western Kentucky legislators have worked together as a united front, and it's paying off. 

The bill now heads to the Senate floor for a vote as soon as Wednesday.

HB 114/FN/LM (BR 366) - B. Rowland, L. Bechler, J. Carney, M. Castlen, W. Coursey, J. DeCesare, M. Dossett, J. Gooch Jr., R. Heath, J. Hoover, K. Imes, M. Meredith, S. Miles, R. Mills, R. Nelson, J. Petrie, M. Prunty, J. Richards, S. Riley, W. Stone, W. Thomas, K. Upchurch

     AN ACT relating to TVA in-lieu-of-tax payments, making an appropriation therefor, and declaring an emergency.
     Amend KRS 96.895 to require that a portion of the Tennessee Valley Authority (TVA) in-lieu-of-tax revenue deposited in the general fund be distributed to agencies designated by counties that have TVA property located in that county or purchase power from TVA, increasing from zero percent currently to 50 percent or a maximum of $6,000,000; APPROPRIATION; EMERGENCY.