10RS House Bill 553

Actions

Last Action	recommitted to Appropriations & Revenue (H)
Title	AN ACT relating to economic development and making an appropriation.
Bill Documents	Bill
Bill Request Number	1649
Sponsors	R. Palumbo, T. Thompson
Summary of Original Version	Create a new section of subchapter 20 of KRS Chapter 154 to establish the construction loan guarantee program; apply to commercial building construction projects; allow agency to issue loan guarantees of up to 25% of loan principal; require consideration of impact on economic development, credit-worthiness of borrower, and other factors; require application and approval process and set other standards; allow sales tax on purchases related to the project to be used to fund loan program; sunset program in 2015; create a new section of subchapter 20 of KRS 154 to establish the construction loan guarantee account to fund the loan guarantee program; provide for reporting and disposition of funds; make appropriation; provide definitions.
Index Headings of Original Version	Appropriations - Commercial construction, loan guarantees for Banks and Financial Institutions - Commercial construction, loan guarantees for Economic Development - Commercial construction, loan guarantees for

Top

03/01/10	introduced in House
03/02/10	to Economic Development (H)
03/09/10	posted in committee
03/11/10	reported favorably, 1st reading, to Calendar
03/12/10	2nd reading, to Rules
03/15/10	recommitted to Appropriations & Revenue (H)