a. Eligible Applicants. An applicant shall be eligible for an employee withholdings credit only if:
1. It is an eligible company authorized to do business in the Commonwealth of Kentucky; and,
2. It is an agent for an eligible company.
b. Eligible Projects. A project shall be eligible for an employee withholdings credit only if: 1) it directly creates sufficient payroll so as to generate employee withholdings of ten thousand ($10,000.00) annually, beginning on the activation date and continuing through the remainder of the term of the agreement between the Applicant and the City of Bowling Green; or 2) it qualifies for economic development incentives pursuant to a program administered by the Commonwealth of Kentucky and the program requires participation by the City. Once an incentive credit is granted to an applicant, no additional credits will be made to the applicant or the applicant's principal without proof of increased employment resulting in additional employee withholdings. Any additional incentive credits will be at the sole discretion of the City.
c. Employee Withholdings Credits. The employee withholdings credit is designed and intended to provide a credit to eligible applicants of up to one percent (1%) of gross wages paid inside the City of Bowling Green, which are generated by new employees. To be eligible for the credit, the Applicant must generate employee withholdings of a minimum of ten thousand dollars ($10,000.00) annually beginning on the activation date and continuing through the remainder of the term of the agreement between the Applicant and the City of Bowling Green or qualify for economic development incentives pursuant to a program administered by the Commonwealth of Kentucky involving participation by the City. If approved, the Applicant may retain up to one percent (1%) of gross wages generated by new jobs otherwise owed to the City for a period of ten (10) years following the activation date. This credit is to be applied to the employee withholdings payable to the City and not to any other type of taxes or fees payable to the City, to the Warren County School System or to any other taxing entity. It shall be the responsibility of the Applicant to deduct the employee withholdings from its employees' paychecks. It shall also be the responsibility of the Applicant to properly report all employee withholdings and credits taken to the City.
(Ord. BG90-67, 1/8/91; Ord. BG93-2, 2/16/93; BG94-47, 12/6/94; Ord. BG2003-44, 8/19/2003; Ord. BG2006-32, 9/19/2006; Ord. BG2011-17, 4/19/2011)