Here's a look at some of NFIB/Kentucky's victories in the 2011 legislative session:
- Defeated legislation that would cause workers' comp rates to soar. NFIB/Kentucky members were key to the defeat of Senate Bill 104, which would have dramatically have increased worker's comp premiums with new benefits programs for injured workers and huge increases in attorney's fees.
- Defeated a proposal to suspend Net Operating Loss Tax Credit. NFIB/Kentucky played a pivotal role in defeating a 2-year suspension of net operating loss tax credits for businesses. This proposal would have been devastating for small businesses and startups that are just beginning to see the economy slowly rebound.
- Passed economic tax incentive program for small businesses. NFIB pushed for incentives allowing businesses that create and fill at least one position and invest at least $5,000 in capital equipment or technology over the course of a year to apply for a tax credit worth as much as $25,000, which may be carried forward up to five years. The bill limits the total available tax credits to $3 million a year.
- Exempted small businesses from Kentucky's alternative minimum tax. NFIB led the fight to exempt small business owners with less than $3 million in gross profits or gross revenues from the alternative minimum tax, saving money for small businesses.
- Passed regulatory fairness legislation for small businesses. NFIB supported legislation requiring state officials to consider the impact of new regulations on small businesses and allowing lawmakers to declare new regulations as deficient if they unfairly hurt small employers.