| Last Action | 04/05/24: signed by Governor (Acts Ch. 109) |
|---|---|
| Title | AN ACT relating to aerospace infrastructure, making an appropriation therefor, and declaring an emergency. |
| Bill Documents |
Acts Chapter 109
Current/Final Introduced |
| Fiscal Impact Statements |
Fiscal Note
Additional Fiscal Impact Statements Exist |
| Bill Request Number | 1732 |
| Sponsors | B. Storm, D. Carroll, M. Deneen, G. Elkins, S. Funke Frommeyer, R. Girdler, A. Mays Bledsoe, S. Meredith, G. Neal, B. Smith, D. Thayer, R. Thomas, L. Tichenor, R. Webb, D. Yates |
| Summary of Enacted Version | Creates a new section of KRS Chapter 164 to define terms; establishes the Kentucky Aerospace, Aviation, and Defense Investment Fund Advisory Committee; establishes the membership of the committee; establishes the Kentucky aerospace, aviation, and defense investment fund to be administered by the Council for Postsecondary Education for the purpose of funding public and private partnerships to provide aviation training scholarships and aviation and aerospace equipment grants; requires that the portion of the fund expended toward the council’s administrative costs shall not exceed 0.5 percent of all gross moneys in the fund or $75,000 annually, whichever is less; directs the council to promulgate administrative regulations to carry out this Act; requires those administrative regulations to be submitted to the Legislative Research Commission for comment prior to filing; requires advisory committee members to abstain from voting on a matter involving a conflict of interest; requires that the council shall reserve at least 65 percent of all net moneys in the fund for partnership proposals between aviation and aerospace programs and aviation and aerospace industry partners to provide aviation training scholarships to Kentucky residents enrolled in aviation and aerospace programs; directs the council to prioritize accepting partnerships to proposals targeted to reduce the workforce demand of a specific eligible aviation or aerospace credential the council determines to be among the highest in demand in the Commonwealth; directs that a partnership shall require a written partnership contract and establishes the minimum contract requirements; directs that disbursements of moneys from the fund to support aviation training scholarships be made directly to an aviation program pursuant to the terms of the partnership contract; requires that an aviation program that enters a partnership contract solicit, accept, and review aviation training scholarship applications submitted by students enrolled in the aviation program; directs that an aviation training scholarship issued by an aviation program pursuant to a partnership contract be made directly to a recipient pursuant to a written scholarship contract between the recipient and the aviation program, and sets minimum contract requirements; directs that a grantor may place restrictions upon a contribution to the fund requiring specific criteria for an aviation training scholarship or scholarships funded by the grantor’s dedicated funds; directs that the aviation training scholarship contract grant the aviation program, the Commonwealth, or the aviation industry partner the authority to initiate recoupment proceedings for the recovery of the total amount of all aviation training scholarships awarded to an individual who fails to complete the terms of a scholarship contract; directs that the council reserve up to 35 percent of all net moneys in the fund for aviation equipment partnership contracts between public aviation training programs and aviation industry partners to provide aviation and aviation equipment grants; requires that an aviation equipment partnership require a written partnership contract between a public aviation program, aviation industry partner, and the council, and establishes minimum contract requirements; directs the council to collaborate with the advisory committee to select proposals for partnership contracts; directs that the council may prioritize designated contracts; provides that the council shall require the public aviation program to submit proof that the entire amount of the aviation equipment grant is invested in the maintenance, acquisition, or lease of aviation or aviation training equipment used by students enrolled in a public aviation training program; requires the council to submit a report to the Legislative Research Commission, and establishes minimum report requirements; sunsets the bill on June 30, 2030; and provides that this Act may be cited as the Aerospace Education Reinvestment Opportunity (AERO) Act; APPROPRIATION; EMERGENCY. |
| Summary of Original Version | Create new sections of KRS Chapter 164 to define terms; establish the Kentucky Aerospace, Aviation, and Defense Investment Fund Advisory Committee; establish the membership of the committee; establish the Kentucky aerospace, aviation, and defense investment fund to be administered by the Council for Postsecondary Education for the purpose of funding public and private partnerships to provide aviation training scholarships and aviation and aerospace equipment grants; require that the portion of the fund expended towards the council's administrative costs shall not exceed 4% of all gross moneys in the fund or $1,500,000 annually, whichever is less; direct the council to promulgate administrative regulations to carry out this Act; require those administrative regulations to be submitted to the Legislative Research Commission for comment prior to filing; require advisory committee members to abstain from voting on a matter involving a conflict of interest; require that the council shall reserve at least 65% of all net moneys in the fund for partnership proposals between aviation programs and aviation industry partners to provide aviation training scholarships to Kentucky residents enrolled in aviation programs; direct the council to prioritize accepting partnerships to proposals targeted to reduce the workforce demand of a specific eligible aviation credential that is determined by the council to be among the highest in demand in the Commonwealth; direct that a partnership shall require a written partnership contract and establish the minimum contract requirements; direct that disbursements of moneys from the fund to support aviation training scholarships shall be made directly to an aviation program pursuant to the terms of the partnership contract; require that an aviation program that enters a partnership contract shall solicit, accept, and review aviation training scholarship applications submitted by students enrolled in the aviation program; direct that an aviation training scholarship issued by an aviation program pursuant to a partnership contract shall be made directly to a recipient pursuant to a written scholarship contract between the recipient and the aviation program; set minimum contract requirements; direct that a grantor may place restrictions upon a contribution to the fund requiring specific criteria for an aviation training scholarship or scholarships funded by the grantor's dedicated funds; direct that the aviation training scholarship contract shall grant the aviation program, the Commonwealth, or the aviation industry partner the authority to initiate recoupment proceedings for the recovery of the total amount of all aviation training scholarships awarded to an individual that fails to complete the terms of a scholarship contract; direct the council to reserve up to 35% of all net moneys in the fund for aviation equipment partnership contracts between public aviation training programs and aviation industry partners to provide aviation and aviation equipment grants; requrie that an aviation equipment partnership shall require a written partnership contract between a public aviation program, aviation industry partner, and the council; establish minimum contract requirements; direct the council to collaborate with the advisory committee to select proposals for partnership contracts; direct that the council may prioritize designated contracts; provide that the council shall require the public aviation program to submit proof that the entire amount of the aviation equipment grant is invested in the maintenance, acquisition, or lease of aviation or aviation training equipment utilized by students enrolled in a public aviation training program; require the council to submit a report to the Legislative Research Commission and establish minimum report requirements; sunset the bill on June 30, 2030; provide that this Act may be cited as the Aerospace Education Reinvestment Opportunity (A.E.R.O.) Act; APPROPRIATION; EMERGENCY. |
| Index Headings of Original Version |
Education, Higher - Aviation training scholarships and equipment grants, public and private partnerships, provision Effective Dates, Emergency - Aerospace Education Reinvestment Opportunity Act Occupations and Professions - Aviation, scholarships for eligible credentials, provision Universities and Colleges - Aviation training scholarships and equipment grants, public and private partnerships, provision Aeronautics and Aviation - Aviation training scholarships and equipment grants, public and private partnerships, provision Appropriations - Aviation training scholarships and equipment grants, public and private partnerships, provision Reports Mandated - Council on Postecondary Edcuation, A.E.R.O. Act Short Titles and Popular Names - Aerospace Education Reinvestment Opportunity (A.E.R.O.) Act Advisory Boards, Commissions, and Committees - Kentucky Aerospace, Aviation, and Defense Investment Fund Sunset Legislation - Aerospace Education Reinvestment Opprotunity (A.E.R.O), June 30, 2030 |
| Jump to Proposed Amendments |
House Committee Substitute 1 with Fiscal Impact Statements Conference Committee Report 1 |
| Votes | Vote History |
| 01/23/24 |
|
|---|---|
| 01/25/24 |
|
| 02/01/24 |
|
| 02/02/24 |
|
| 02/05/24 |
|
| 02/07/24 |
|
| 02/13/24 |
|
| 03/12/24 |
|
| 03/13/24 |
|
| 03/21/24 |
|
| 03/22/24 |
|
| 03/25/24 |
|
| 03/26/24 |
|
| 03/27/24 |
|
| 03/28/24 |
|
| 04/05/24 |
|
| Amendment | House Committee Substitute 1 |
|---|---|
| Fiscal Impact Statement | Fiscal Note to House Committee Substitute 1 |
| Summary | Retain original provisions; add references to aerospace throughout; add a member of the Kentucky Aerospace, Aviation, and Defense Investment Fund Advisory Committee with professional experience in Department of Defense contracts related to aerospace; amend KRS 183.525, regarding the Kentucky Aviation Economic Development Fund, to allow moneys in the fund to be used for programs supporting aviation education and workforce development; allow certain administrative expenses; APPROPRIATION; EMERGENCY. |
| Index Headings |
Fiscal Note - Aerospace Education Reinvestment Opportunity Act Economic Development - Kentucky Aviation Economic Development Fund, allowable uses State Agencies - Transportation Cabinet, Kentucky Aviation Economic Development Fund, allowable uses Aeronautics and Aviation - Kentucky Aviation Economic Development Fund, allowable uses Appropriations - Kentucky Aviation Economic Development Fund, allowable uses Advisory Boards, Commissions, and Committees - Kentucky Aerospace, Aviation, and Defense Investment Fund, advisory committee, required members Effective Dates, Emergency - Aerospace Education Reinvestment Opportunity Act |
| Amendment | Conference Committee Report 1 |
|---|---|
| Summary | The Senate will concur on HCS 1 except Section 7 and the House will recede from Section 7 of the HCS, which related to the use of funds in the Kentucky Aviation Economic Development Fund. |
| Index Headings |
Conference Committee Reports - SB 127 Aeronautics and Aviation - Kentucky Aviation Economic Development Fund, allowable uses, strike from bill Economic Development - Kentucky Aviation Economic Development Fund, allowable uses, strike from bill State Agencies - Kentucky Aviation Economic Development Fund, allowable uses, strike from bill |
Last updated: 9/26/2024 1:37 PM (EDT)