KY HB708

Creates a four-tier county classification system for economic development tax credits based on unemployment rates and population rankings, with credits ranging from $2,500 per new job (Tier I) to $20,000 per new job (Tier IV)

Provides a 20% tax credit on facility value for up to 10 years for companies establishing or expanding headquarters in Kentucky that create at least 40 new jobs

Requires minimum job creation thresholds of 10 full-time jobs in Tier I/II counties or 5 full-time jobs in Tier III/IV (enhanced incentive) counties to qualify for incentives

Sets minimum wage requirements at 150% of federal minimum wage in Tier I/II counties and 125% in enhanced incentive counties (Tier III/IV), with 15% employee benefits requirement

Requires the Kentucky Economic Development Finance Authority to publish annual tier rankings by January 1, effective July 1 each year, beginning January 1, 2027