HB 869
AN ACT relating to fiscal matters and declaring an emergency.
In Plain Language
This bill creates a new fund to provide low-interest loans for building construction and renovations in rural areas aimed at job creation, and requires the state economic development office to work with colleges on promoting jobs from development programs. It also directs the state to study whether Kentucky should align its economic development rules with neighboring states, and keeps some previously appropriated money available instead of letting it expire.
Official summary
Create a new section of Subchapter 20 of KRS Chapter 154 to establish the rural building and job creation revolving fund; specify uses of the fund to assist with compliance risk mitigation for the New Markets Tax Credits Program, or to issue low-interest loans to assist with construction of new buildings or renovations of existing buildings for lease to target wage economic development projects; require the Cabinet for Economic Development to report on the fund; create a new section of Subchapter 12 of KRS Chapter 154 to require the cabinet to work with the workforce liaison appointed by the president of the Kentucky Career and Technical College System to promote jobs created in the Commonwealth as a result of incentive programs; require the cabinet to conduct a feasibility and impact study on interstate reciprocity between state economic development programming; amend the general fund appropriation authorized in 2022 Ky. Acts ch. 199, Part I, B, 1.,(12) to not lapse and carry forward; APPROPRIATION; EMERGENCY.
Sponsor
A. Bowling (Republican-87)
Cosponsors
1 listed
Latest action
signed by Governor (Acts Ch. 198)
Apr 27, 2026
Official source
Action history
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