Amend KRS 81A.420 to require a city to provide written notice to a county of annexation; eliminate the election in opposition to annexation but allow a petition to defeat annexation proposal; create a new section of KRS 65.210 to 65.300 to make interlocal agreements concerning the sharing of occupational or insurance premium tax revenue between a city and a county terminable only with the consent of both parties; amend KRS 65.250 to conform; create new sections of KRS Chapter 81A that allow a county subject to occupational tax crediting to have standing to challenge a proposed annexation; require cities that annex territory in counties subject to occupational tax crediting to remit payments to a county or negotiate with a county for investment in a project associated with the annexation in certain circumstances; allow counties to establish designated county industrial districts; define terms; prohibit annexation by a city of territory within a district without consent of the county; provide method to establish a new district or dissolve an existing district; require certain uses within a district; set a maximum number and size of districts within a county; provide landowners and cities with standing to bring suit against a county concerning a district.