81A.532 Definitions for KRS 81A.532 to 81A.536. As used in KRS 81A.532 to 81A.536, unless the context requires otherwise: (1) 'Commercial purposes' means the use of land, buildings, or structures, or parts thereof, for the buying, selling, storage, or shipment of goods or services, or other substantiall y similar types of activity; (2) 'District' means a designated county industrial district; (3) 'Industrial purposes' means the use of land, buildings, or structures, or parts thereof, for manufacturing, production or assembly of goods, warehousing and distribution, or other substantially similar types of activity; and (4) 'Substantial investment' means expenditures by the county in an amount equal to or greater than twenty percent (20%) of the total assessed value of real property at the time of the designa tion of a designated county industrial district in utility, transportation, or other similar infrastructure within the district, not including normal or routine county road maintenance. Effective: July 15, 2024 History: Created 2024 Ky. Acts ch. 158, sec. 7, effective July 15, 2024.
Kentucky Legal Code