The Kentucky Tourism Development Finance Authority has given preliminary approval to Kentucky Kingdom in Louisville for an expansion project.
A release from the state agency says Kentucky Kingdom is planning to spend about $15 million for renovations and the addition of new rides.
Preliminary approval was given Wednesday.
The park closed in 2009, and it was reopened last year.
If approved, the park would be eligible for up to $3.75 million in incentives in the form of tax rebates spread out over 10 years. The rebate is based on sales tax generated by the attraction.
A consultant will review Kentucky Kingdom's application to determine if it meets the criteria for incentives. The application will come back to the authority once the review is complete.