RUE’s Corner Government Affairs
Hello Fellow KREIA Members, here’s the latest update of Metro Louisville Government’s activity that may affect your real estate business.
1. Governor Steve Beshear has appointed a Blue Ribbon Commission on Tax Reform to examine the tax code and additional sources of revenue. Over the next several months, the commission will conduct a comprehensive review of Kentucky’s tax code and provide recommendations to Governor Beshear by November 15, 2012. It is likely that the recommendations will be incorporated into a tax reform proposal that the Governor will introduce during a later session of the Kentucky General Assembly.
Members of the Blue Ribbon Commission on Tax Reform:
Lt. Governor Jerry Abramson, Chairman, Roszalyn Akins, Lexington - Jason Bailey, Berea - Jim Booth, Inez - Junior Bridgeman, Louisville - Rocky Comito, Shepherdsville - Luther Deaton, Nicholasville -Marion Forcht, Corbin - Rick Jordan, Walton - Pat Mulloy, Louisville - Dr. Sheila Schuster, Louisville - Stu Silberman, Lexington - Dr. Lee Todd, Lexington - Leslie Weigel, Bowling Green - John Williams, Paducah - Joe Wright, Harned - Cathy Zion, Louisville
Six non-voting, ex officio members will represent the General Assembly:
Rep. Rick Rand (D) - Rep. Jim Wayne (D) - Rep. Bill Farmer (R) - Sen. Bob Leeper (I) - Sen. Paul Hornback (R) - Sen. Gerald Neal (D)
Louisville Metro Government 1. Councilman David Yates has introduced an ordinance regarding historic preservation. The ordinance would change the process of how landmarks are designated in Louisville. Currently, the Landmarks Commission must receive written request form the action by the owner, or a petition signed by 200 people. The Landmarks Commission decides whether the property should be designated as historic. Under Councilman Yates’ proposal, the petition must be signed by 51% of the residents within a one mile radius of the property. Historic designation would have to be approved by the Metro Council following hearings by the Landmarks Commission. The ordinance received a brief hearing on Tuesday, February 14th during the Planning/Zoning, Land Design and Development Committee meeting. It is anticipated that there will be two more meetings scheduled for public comment on the ordinance. Representatives of K.R.E.I.A. are participating in the discussions regarding the ordinance (Louisville Metro Council, O-33-02-12).
Rue McFarland 502.897.6060 email@example.com
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DISCLAIMER: KREIA does NOT pre-qualify, evaluate, endorse, guarantee or warranty any particular deal, service, company, or person. The Kentuckiana Real Estate Investors Association recommends you perform your own due diligence & seek appropriate legal, accounting, or other professional advice before making any investment. KREIA is a Member of National Real Estate Investors Association.
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