FRANKFORT, KY (KFVS) - Gov. Matt Bevin has signed Kentucky House Bill 114 into law, which bolsters economic development efforts for 39 counties that buy power from the Tennessee Valley Authority, or that have TVA property.
In the new law, $2 million is to be divided between the 39 counties in Fiscal Year '18-'19, then $4 million divided between the counties in Fiscal Year '19-'20 and $6 million beginning in '20-'21 and each fiscal year after.
"For a number of years, a broad coalition has advocated for this transformative legislation," said Matt Tackett, President and CEO of the Kentucky Association for Economic Development. "Economic developers in the 39 counties are even more excited about what the future holds for their communities. Rep. Bart Rowland, Senator Stan Humphries, Chairman Steven Rudy, and the KY TVA Counties delegation came together and delivered. The entire Commonwealth will benefit from this investment in attracting and growing jobs."
The TVA region in Ky. includes Ballard, Caldwell, Calloway, Carlisle, Christian, Fulton, Graves, Hickman, Livingston, Lyon, Marshall, McCracken, and Trigg Counties.