Kentucky Revised Statutes Title XII. Conservation and State Development § 154.20-236.Total amounts of tax credit that may be awarded; administrative regulations; contract for administration and management of certification and application procedure

(a) All qualified investors shall be no more than three million dollars ($3,000,000); and

(b) Any individual qualified investor shall be no more than two hundred thousand dollars ($200,000).

(2)(a) The total amount of credit that may be awarded by the authority to:

(b) Beginning on or after January 1, 2021, the amount of credit that may be awarded by the authority in each calendar year shall be equal to the amount provided in subsection (1) of this section.

(c) The authority shall not grant preliminary or final approval for applications received for the Kentucky Angel Investment Act on or after January 1, 2019, but may resume approving applications received on or after January 1, 2021.

(a) Small businesses and investors to request certification for participation in the program;

(b) Qualified investors to request certification of a planned investment as being a qualified investment, and to apply for a credit; and

(c) The award of credits to qualified investors making qualified investments.

(a) Require small businesses and investors to demonstrate to the authority that they, and any planned investment, satisfy all requirements provided in KRS 154.20-234;

(b) Provide small businesses and investors with a standard written application form to request certification and apply for a credit;

(c) Require the payment of a fee; and

(d) Mandate a time period for the duration of certifications granted to small businesses and investors, and the procedures for recertification thereof.

(a) Twenty-five percent (25%) of the amount of the qualified investment, if the principal place of business of the qualified small business is outside an enhanced incentive county; or

(b) Forty percent (40%) of the amount of the qualified investment, if the principal place of business of the qualified small business is in an enhanced incentive county.