Last Action | 03/25/20: signed by Governor (Acts ch. 33) |
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Title | AN ACT creating and funding a Kentucky Economic Development Finance Authority loan for a qualifying public medical center located in a city of the first class, making an appropriation therefor, and declaring an emergency. |
Bill Documents |
Current/Final
Introduced |
Fiscal Impact Statements |
Fiscal Note
Additional Fiscal Impact Statements Exist |
Bill Request Number | 290 |
Sponsors | D. Osborne, J. Jenkins, T. Bojanowski, A. Gentry, N. Kulkarni, C. Massey, R. Rothenburger |
Summary of Original Version | Appropriate to the Cabinet for Economic Development General Fund moneys in the amount of $50,000,000 in fiscal year 2019-2020 for the establishment and implementation of the Direct Health Care Services and Research Facilities Operations Loan; set out parameters for the Direct Health Care Services and Research Facilities Operations Loan; direct the University of Louisville to provide an annual report detailing the status of any loan agreement granted under the Direct Health Care Services and Research Facilities Operations Loan for as long as the loan is in effect; stipulate that authorized appropriations shall be paid from the General Fund Surplus Account or the Budget Reserve Trust Fund Account; APPROPRIATION; EMERGENCY. |
Index Headings of Original Version |
Fiscal Note - University of Louisville, Direct Health Care Services and Research Facilities Operations Loan Economic Development - Direct Health Care Services and Research Facilities Operations Loan Education, Finance - University of Louisville, Direct Health Care Services and Research Facilities Operations Loan Education, Higher - University of Louisville, Direct Health Care Services and Research Facilities Operations Loan Effective Dates, Emergency - Direct Health Care Services and Research Facilities Operations Loan Loans and Credit - Direct Health Care Services and Research Facilities Operations Loan State Agencies - Economic Development, Direct Health Care Services and Research Facilities Operations Loan Universities and Colleges - University of Louisville, Direct Health Care Services and Research Facilities Operations Loan Appropriations - Direct Health Care Services and Research Facilities Operations Loan Budget and Financial Administration - Direct Health Care Services and Research Facilities Operations Loan |
Jump to Proposed Amendments |
House Committee Substitute 1 with Fiscal Impact Statements House Committee Substitute 2 House Committee Amendment 1 House Floor Amendment 1 House Floor Amendment 2 House Floor Amendment 3 House Floor Amendment 4 House Floor Amendment 5 House Floor Amendment 6 |
Votes | Vote History |
11/15/19 |
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01/07/20 |
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01/14/20 |
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01/22/20 |
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01/23/20 |
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02/03/20 |
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02/11/20 |
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02/12/20 |
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02/13/20 |
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02/20/20 |
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03/05/20 |
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03/06/20 |
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03/12/20 |
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03/17/20 |
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03/18/20 |
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03/25/20 |
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Amendment | House Committee Substitute 1 |
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Fiscal Impact Statement | Fiscal Note to House Committee Substitute 1 |
Summary | Appropriate to the Cabinet for Economic Development General Fund moneys in the amount of $35 million in fiscal year 2019-2020 for the creation and funding of a KEDFA loan for a qualifying public medical center in a city of the first class; set out parameters for the KEDFA loan; stipulate that the Cabinet for Economic Development shall determine the terms and conditions of the KEDFA loan and monitor the performance of the qualifying public medical center to achieve partial loan forgiveness; require the University of Louisville to provide an annual report detailing the status of the KEDFA loan for as long as it is in effect; stipulate that authorized appropriations shall be paid from the General Fund Surplus Account or the Budget Reserve Trust Fund Account; APPROPRIATION; EMERGENCY. |
Index Headings |
Economic Development - KEDFA loan, public medical center Education, Higher - University of Louisville, KEDFA loan report Effective Dates, Emergency - KEDFA loan, public medical center Loans and Credit - KEDFA loan, public medical center State Agencies - Economic Development, KEDFA loan Universities and Colleges - University of Louisville, KEDFA loan report Appropriations - KEDFA loan, public medical center Budget and Financial Administration - KEDFA loan, public medical center Fiscal Note - KEDFA loan, public medical center |
Amendment | House Committee Substitute 2 |
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Summary | Appropriate to the Cabinet for Economic Development General Fund moneys in the amount of $3,069,000 in fiscal year 2020-2021 and $3,069,000 in fiscal year 2021-2022 for new debt service to support $35,000,000 in new bonds in fiscal year 2019-2020 for the creation and funding of a KEDFA loan for a qualifying public medical center in a city of the first class; set parameters for the KEDFA loan; stipulate that the Cabinet for Economic Development shall distribute funds by April 1, 2020, shall determine the terms and conditions of the KEDFA loan, and shall monitor the performance of the qualifying public medical center to achieve partial loan forgiveness not to exceed 50 percent of the KEDFA loan amount; require the public medical center that receives the loan to provide an annual report detailing the status of the KEDFA loan for as long as it is in effect; APPROPRIATION; EMERGENCY. |
Index Headings |
Economic Development - KEDFA loan, public medical center Effective Dates, Emergency - KEDFA loan, public medical center Loans and Credit - KEDFA loan, public medical center State Agencies - Economic Development, KEDFA loan Appropriations - KEDFA loan, public medical center Budget and Financial Administration - KEDFA loan, public medical center |
Amendment | House Committee Amendment 1 |
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Sponsor | S. Rudy |
Summary | Make title amendment. |
Index Headings | Title Amendments - HB 99 |
Amendment | House Floor Amendment 1 |
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Sponsor | J. Fischer |
Summary | Insert language stating that partial loan forgiveness shall not exceed 50% of the KEDFA loan amount. |
Index Headings |
Economic Development - KEDFA loan, public medical center Education, Higher - University of Louisville, KEDFA loan report Loans and Credit - KEDFA loan, public medical center State Agencies - Economic Development, KEDFA loan Universities and Colleges - University of Louisville, KEDFA loan report Budget and Financial Administration - KEDFA loan, public medical center |
Amendment | House Floor Amendment 2 |
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Sponsor | J. Hoover |
Summary | Amend provisions to make the KEDFA loan unforgivable. |
Index Headings |
Economic Development - KEDFA loan, public medical center Education, Higher - University of Louisville, KEDFA loan report Loans and Credit - KEDFA loan, public medical center State Agencies - Economic Development, KEDFA loan Universities and Colleges - University of Louisville, KEDFA loan report Budget and Financial Administration - KEDFA loan, public medical center |
Amendment | House Floor Amendment 3 |
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Sponsor | J. Hoover |
Summary | Change appropriation to the Cabinet for Economic Development for the creation and funding of a KEDFA loan to $17,500,000; appropriate $17,500,000 in General Fund moneys to the Cabinet for Economic Development for the creation of a KEDFA loan for rural hospitals; stipulate that the KEDFA loan shall not exceed a 20-year term and shall be utilized to assist rural hospitals in providing needed direct health services; direct the Cabinet for Economic Development to determine the terms and conditions of the KEDFA loan and to monitor the performance of the rural hospitals to achieve partial loan forgiveness; and direct the Cabinet for Economic Development to provide an annual report, APPROPRIATION. |
Index Headings |
Hospitals and Nursing Homes - KEDFA loan, rural hospitals Economic Development - KEDFA loan, public medical center, rural hospitals Loans and Credit - KEDFA loan, public medical center, rural hospitals State Agencies - Economic Development, KEDFA loan Budget and Financial Administration - KEDFA loan, public medical center, rural hospitals Appropriations - KEDFA loan, public medical center, rural hospitals |
Amendment | House Floor Amendment 4 |
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Sponsor | J. Hoover |
Summary | Make title amendment. |
Index Headings | Title Amendments - HB 99 |
Amendment | House Floor Amendment 5 |
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Sponsor | J. Hoover |
Summary | Amend provisions to make the KEDFA loan unforgivable. |
Index Headings |
Economic Development - KEDFA loan, public medical center Loans and Credit - KEDFA loan, public medical center State Agencies - Economic Development, KEDFA loan Budget and Financial Administration - KEDFA loan, public medical center |
Amendment | House Floor Amendment 6 |
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Sponsor | J. Hoover |
Summary | Change debt service appropriations to the Cabinet for Economic Development for the creation and funding of a KEDFA loan to $1,535,000 in each fiscal year of the 2020-2022 fiscal biennium; appropriate $1,535,000 in each fiscal year of the 2020-2022 fiscal biennium for new debt service to support $17,500,000 in new bonds to the Cabinet for Economic Development for the creation of a KEDFA loan for rural hospitals; stipulate that the KEDFA loan shall not exceed a 20-year term and shall be utilized to assist rural hospitals in providing needed direct health services; direct the Cabinet for Economic Development to distribute those funds by April 1, 2020, to determine the terms and conditions of the KEDFA loan, and to monitor the performance of the rural hospitals to achieve partial loan forgiveness not to exceed 50 percent of the KEDFA loan amount; and direct the Cabinet for Economic Development to provide an annual report; APPROPRIATION. |
Index Headings |
Economic Development - KEDFA loan, public medical center, rural hospitals Hospitals and Nursing Homes - KEDFA loan, rural hospitals Loans and Credit - KEDFA loan, public medical center, rural hospitals State Agencies - Economic Development, KEDFA loan Appropriations - KEDFA loan, public medical center, rural hospitals Budget and Financial Administration - KEDFA loan, public medical center, rural hospitals |
Last updated: 10/27/2020 12:10 PM (EDT)
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