The Paducah City Commission passed a resolution in support of House Bill 1 Local Investments for Transformation Kentucky at their meeting last night.
If passed by the General Assembly, city commissioner Sandra Wilson says LIFT would allow citizens to vote on projects that would be paid for by a temporary local option sales tax of no more than one percent.
“It has to be voter approved. And, as you did have in the resolution, it has a sunset date that it has to expire by,” she said. “So, I think it’s, it’s a great tool for every community in the State of Kentucky to have to utilize.”
Many Kentucky lawmakers are calling a local option sales tax their highest priority this legislative session.
“This option would give us an opportunity to get some things done and pay for it as we do it as opposed to floating bonds and going into debt trying to build those infrastructures,” commissioner Richard Abraham said.
LIFT supporters in the region include the Kentucky League of Cities, Kentucky Chamber of Commerce, Paducah Area Chamber of Commerce, City of Murray, Purchase Area Development District, and the Owensboro Chamber of Commerce.
“It’s statewide, it’s just getting the legislature to allow it to be put on the ballot. And, I don’t think it will be put on the ballot until 2016, November of 2016,” Wilson said.
The Kentucky League of Cities estimates that based on Paducah’s population and sales receipts, a one percent local option sales tax could generate $15.9 million per year.