KRS § 148.851 — KY Code / Title XII / Chapter 148 / Section 148.851
148.851 Definitions for KRS 148.851 to 148.860
Status: in_force

148.851 Definitions for KRS 148.851 to 148.860.

As used in 148.851 to 148.860, unless the context clearly indicates otherwise:

(1) "Agreement" means the tourism development agreement entered into between the

authority and an approved company;

(2) "Approved company" means any eligible company that has received final approval

to receive incentives provided under KRS 148.853;

(3) "Approved costs" means the amount of eligible costs approved by the authority

upon completion of the project;

(4) "Authority" means the Kentucky Tourism Development Finance Authority as set

forth in KRS 148.850;

(5) "Cabinet" means the Tourism, Arts and Heritage Cabinet;

(6) "Crafts and products center" means a facility primarily devoted to the display,

promotion, and sale of Kentucky products, and at which a minimum of eighty

percent (80%) of the sales occurring at the facility are of Kentucky arts, crafts, or

agricultural products;

(7) "Eligible company" means any corporation, limited liability company, partnership,

limited partnership, sole proprietorship, business trust, or any other entity operating

or intending to operate a tourism development project;

(8) "Eligible costs" means:

(a) Obligations incurred for labor and amounts paid to vendors, contractors,

subcontractors, builders, suppliers, deliverymen, and materialmen in

connection with the acquisition, construction, equipping, and installation of a

tourism development project;

(b) The costs of acquiring real property or rights include the acquisition of real

property by a leasehold interest with a minimum term of ten (10) years, and

any costs incidental thereto;

(c) The cost of contract bonds and of insurance of all kinds that may be required

or necessary during the course of the acquisition, construction, equipping, and

installation of a tourism development project which is not paid by the vendor,

supplier, deliveryman, contractor, or otherwise provided;

(d) All costs of architectural and engineering services, including but not limited to

estimates, plans and specifications, preliminary investigations, and

supervision of construction and installation, as well as for the performance of

all the duties required by or consequent to the acquisition, construction,

equipping, and installation of a tourism development project;

(e) All costs required to be paid under the terms of any contract for the

acquisition, construction, equipping, and installation of a tourism

development project;

(f) All costs required for the installation of utilities, including but not limited to

water, sewer, sewer treatment, gas, electricity and communications, and

including off-site construction of the facilities paid for by the approved

company; and

(g) All other costs comparable with those described in this subsection, excluding

costs subject to refund under KRS 154.20-202, 154.20-204, 154.20-206,

154.20-208, and 154.20-210 or Subchapter 31 of KRS Chapter 154;

(9) "Enhanced incentive county" has the same meaning as in KRS 154.32-010;

(10) "Entertainment destination center project" means a facility that meets the

requirements of KRS 148.853(2)(b);

(11) "Final approval" means the action taken by the authority authorizing the eligible

company to receive incentives under KRS 139.536 and 148.851 to 148.860;

(12) "Full-service lodging facility" means a facility that provides overnight sleeping

accommodations, including private bathrooms and all of the following:

(a) On-site dining facilities;

(b) Room service;

(c) Catering: and

(d) Meeting space;

(13) "Incentives" means the Kentucky sales tax refund as prescribed in KRS 139.536;

(14) "Kentucky sales tax" means the sales tax imposed by KRS 139.200;

(15) "Lodging facility project" means a full-service lodging facility that:

(a) 1. Is located on recreational property owned or leased by the

Commonwealth or the federal government;

2. Involves the restoration or rehabilitation of a structure that:

a. Is listed individually on the National Register of Historic Places;

or

b. Is located in the National Register Historic District; and

is certified by the Kentucky Heritage Council as contributing to the

historic significance of the district, and the rehabilitation or restoration

of the structure has been approved in advance by the Kentucky Heritage

Council;

3. Is an integral part of a major convention or sports facility;

4. Is located:

a. Within a fifty (50) mile radius of a property listed on the National

Register of Historic Places with a current function of recreation

and culture; and

b. In any of the one hundred (100) least-populated counties in the

Commonwealth, in terms of population density, according to the

most recent census;

5. Is located on property:

a. Owned by the Commonwealth, or leased by the Commonwealth

from the federal government;

b. Acquired for use in the state park system pursuant to KRS

148.028; and

c. Operated by the Kentucky Department of Parks pursuant to KRS

148.021 or the Kentucky Horse Park Commission pursuant to

KRS 148.258 to 148.320;

6. Is located on property:

a. Owned or leased by the federal government and under the control

of the Department of the Interior; or

b. Owned by the Commonwealth and in the custody of the State Fair

Board as provided in KRS 247.140;

7. Is part of a tourism attraction project, entertainment destination center

project, or theme restaurant destination attraction project and the full-

service lodging facility represents less than fifty percent (50%) of the

total eligible costs; or

8. Has not less than five hundred (500) guest rooms; or

(b) 1. Is located:

a. In any of the one hundred (100) least-populated counties in the

Commonwealth, in terms of population density, according to the

most recent decennial census;

b. In a county, the boundaries of which:

i. Include, in part, the boundaries of a designated national

forest; or

ii. Are adjacent to or include a portion of parallel reservoirs of

water surrounding a national recreation area;

c. Within an enhanced incentive county and will create at least fifty

(50) new full-time jobs within that county; and

d. Within one-half (1/2) mile of a state resort park;

2. Has a capital investment of at least one hundred million dollars

($100,000,000); and

3. Contains accommodations for:

a. Lodging, with a minimum of one hundred (100) guest rooms,

cabins, or rental units;

b. Relaxation, including a spa;

c. More than one (1) on-site dining facility; and

d. More than one (1) meeting or event space;

(16) "Net positive fiscal impact" means the amount by which increased state tax

revenues will exceed the incentives given;

(17) "Preliminary approval" means the action taken by the authority conditionally

approving an eligible company for the incentives under KRS 139.536 and 148.851

to 148.860;

(18) "Recreational facility" means a structure or outdoor area that:

(a) Provides visitors recreational opportunities, including but not limited to

amusement parks, boating, hiking, horseback riding, hunting, fishing,

camping, wildlife viewing, live theater, rock climbing, and all-terrain vehicle

trails; and

(b) Serves as a likely destination where individuals who are not residents of the

Commonwealth would remain overnight in commercial lodging at or near the

recreational facility;

(19) "Theme restaurant destination attraction project" means a restaurant facility that

meets the requirements for incentives under KRS 148.853(2)(c);

(20) (a) "Tourism attraction project" means:

1. A cultural or historical site;

2. A recreational facility;

3. An entertainment facility;

4. An area of natural phenomenon or scenic beauty; or

5. A Kentucky crafts and products center;

(b) "Tourism attraction project" does not include facilities that are primarily

devoted to the retail sale of goods, other than a Kentucky crafts and products

center, or a tourism attraction where the sale of goods is a secondary and

subordinate component of the attraction; and

(21) "Tourism development project" means:

(a) A tourism attraction project;

(b) A theme restaurant destination attraction project;

(c) An entertainment destination center project; or

(d) A lodging facility project.