AN ACT TO REMOVE THE DAVIDSON COUNTY AIRPORT FROM THE CORPORATE LIMITS OF THE CITY OF LEXINGTON AND TO REQUIRE THE DAVIDSON COUNTY AIRPORT AUTHORITY TO PURCHASE CERTAIN DESCRIBED PROPERTY FROM THE CITY OF LEXINGTON. SL 2022-36. Enacted July 1, 2022. Effective July 1, 2022, except as otherwise provided.
Bill Summaries: S908 AIRPORT ECONOMIC DEVELOPMENT ACT.
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Bill S 908 (2021-2022)Summary date: Jul 26 2022 - View Summary
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Bill S 908 (2021-2022)Summary date: Jun 22 2022 - View Summary
Senate committee substitute to the 1st edition adds the following.
Directs the Davidson County Airport Authority to purchase, and the City of Lexington to sell, the fire station building and equipment described, for $2 million by December 31, 2022. Makes technical and conforming changes. Changes the act's long title.
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Bill S 908 (2021-2022)Summary date: May 31 2022 - View Summary
Removes the Davidson County Airport (as described) from the City of Lexington's corporate limits. Specifies that the act has no effect on the validity of liens of the City of Lexington for ad valorem taxes or special assessments outstanding before the act's effective date. Effective June 30, 2022. Specifies that property in the described area as of January 1, 2022, is no longer subject to municipal taxes imposed for taxable years beginning on or after July 1, 2022.