Governor Names Commission to Overhaul State Tax Structure
by Erik A. Carlson, 2.9.12, BizLex.com
Frankfort, KY – The state’s outmoded tax code is about to meet 23 powerful players in the state who will look to find solutions over the next eight months to allow it to match the state’s economy.
Gov. Steve Beshear signed an executive order Thursday charging a the 23 on a blue ribbon commission the task of fixing the state’s revenue stream.
“Our revenue over the past decade has grown at 70 to 75 percent of the rate of growth of our economy… Our revenue system isn’t doing the job we set it up to do,” Beshear said at a Capitol press conference Thursday afternoon…Read more at BizLex.com
Skyline of Oklahoma City
Oklahoma City is a model for local tax options for public projects, but Kentucky’s constitution forbids it.
by Dan Dickson, 1.17.2012, Business Lexington
Lexington, KY – Like most American cities, Lexington has ambitious dreams for its downtown — a remodeled Rupp Arena, an expanded convention center, an amphitheater, a water feature — all contributing to a vibrant, 46-acre, arts and entertainment district.
But updating Rupp Arena and enlarging the convention center alone could cost $250 million, one study suggests.
Paying for downtown improvements is always challenging, a point well understood by Commerce Lexington president and CEO Bob Quick…Read more at BizLex.com
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“Task force will recommend changes to Kentucky’s tax code, governor” Beth Musgrave, 1.6.11, Lexington Herald-Leader
