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HB 281 (BR 1248) - R. Damron

     AN ACT relating to local financial obligations.
     Create a new section of KRS Chapter 65 to require a city, county, urban-county, consolidated local government, charter county, taxing district, or special district to notify the state local debt officer in writing before entering into any financing obligation, lease, bond issuance, or any long term debt obligation; authorize the state local debt officer to promulgate administrative regulations to develop the forms of notification; specify information to be reported on form; specify that no approval by the state local debt officer shall be required; clarify that any financing obligation entered into prior to the passage of this Act shall be considered in compliance, if notification is provided to the state local debt officer no later than one (1) year after the effective date of this Act; amend KRS 65.944 to delete language requiring notification in writing to the state local debt officer when a lease price exceeds one hundred thousand dollars ($100,000); make technical changes; amend KRS 66.045 to conform; repeal KRS 65.7719.


     HCS - Amend Section 1 to specify that notification to the state local debt officer is required for leases pursuant to KRS 65.940 et seq. when the lease price exceeds $200,000; amend Section 1 to clarify that no approval of the state local debt officer shall be required, unless otherwise required by law.

     Feb 6-introduced in House
     Feb 7-to Local Government (H)
     Feb 9-posted in committee
     Feb 20-reported favorably, 1st reading, to Calendar with Committee Substitute
     Feb 21-2nd reading, to Rules
     Feb 26-posted for passage in the Regular Orders of the Day for Tuesday, February 27, 2007
     Mar 2-3rd reading, passed 96-0 with Committee Substitute
     Mar 5-received in Senate
     Mar 6-to State & Local Government (S)
     Mar 7-taken from committee; 1st reading; returned to State & Local Government (S)
     Mar 8-taken from committee; 2nd reading; returned to State & Local Government (S)
     Mar 9-reported favorably, to Rules as a Consent Bill

Vote History

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