Summary of Original Version

Create new sections in KRS Chapter 65 to state findings and declaration of the General Assembly for the development area; define terms; establish the West End Opportunity Partnership, its powers and duties and purpose; require the West End Opportunity Partnership to comply with open meetings and open records requirements; require the West End Opportunity Partnership to reimburse real property taxes; establish the board and membership requirements; require a local participation agreement and specify provisions of the agreement; establish requirements pertaining to documentation, records, incremental revenues, and bonds; require reporting of the West End Opportunity Partnership to the Interim Joint Committee on Appropriations and Revenue; establish the West End Louisville Advisory Council and its members and duties; create a new section in KRS Chapter 132 to establish the classification of residential property in a revitalization area; define terms; and prohibit the legislative body of a consolidated local government from levying an ad valorem tax rate on residential property in a revitalization area that is higher than 50 percent of the prevailing rate of other real property located in its jurisdiction; EFFECTIVE only if 2021 Regular Session Bill Request Number 1454 becomes law.