The city shall, upon receipt of an approved (preliminary or final) application for benefits and incentives through the Kentucky Business Investment Incentive Program, in conjunction with the Kentucky Economic Development Finance Authority, from a business entity, consider said business entity for an additional incentive of rebate or retention of up to one percent (1%) of the City of Murray's occupational license tax. The business entity must comply with all requirements set forth in this chapter to determine the total amount due from the business entity, if any, each quarter. The terms and conditions of the rebate or retention shall be commemorated by resolution of the City Council. In the event the business entity's application is denied or the business entity, at any time during the rebate or retention period, becomes ineligible to participate in the Kentucky state program, the business entity's request for rebate or retention to city shall also be denied or be terminated, whichever is applicable. Any rebate or retention period granted under this chapter shall begin when the Kentucky state program benefits begin.
(Ord. 2023-1855, passed 10-12-23)