Bill advances to make coal sector eligible for incentives
FRANKFORT, Ky. (AP) – Kentucky’s struggling coal industry would become eligible for some state economic development incentives under a bill advanced by a state House committee.
House Majority Floor Leader Rocky Adkins says the bill would “right a wrong” by letting coal companies seek the same economic incentives already available for other businesses and industries. The measure won bipartisan support Thursday when the House Economic Development Committee approved it.
If the bill becomes law, coal mining or processing companies could seek approval for various tax incentives rewarding job creation and investment.
The coal industry’s struggles have taken center stage in recent Kentucky elections.
Thousands of coal mining jobs have disappeared in recent years, sending ripple effects through coalfield towns, especially in Kentucky’s Appalachian region.
The legislation is House Bill 202.