Extension of TIF program could reap benefits for county

A House bill extending the Tax Increment Financing program in the state of Kentucky may ultimately benefit a portion of Hardin County near Fort Knox.

Local officials say they hope the passage of HB 310, which was signed into law by Gov. Steve Beshear, will provide an additional means to attract new business and industry to the area.

Under the provisions of HB 310, more areas within the state now qualify for tax increment financing districts, which in essence redirects taxes from the land back into the development of the property.

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