Senate Bill 109

Actions | Amendments
Last Action 04/11/23: Vetoed
Title AN ACT relating to investment advisers.
Bill Documents Current/Final
Introduced
Bill Request Number 1127
Sponsors C. McDaniel, M. Deneen
Summary of Original Version Amend KRS 292.330 to establish registration exemptions for investment advisers; create a new section of KRS Chapter 292 to establish a registration exemption for private fund advisers; establish requirements for the exemption; direct where filings shall be made; require investment advisers to comply with registration requirements within 90 days of becoming ineligible for exemption; permit the commissioner of the Department of Financial Institutions to waive certain provisions.
Index Headings of Original Version Licensing - Investment advisers, registration exemptions
Securities - Investment advisers, registration exemptions
State Agencies - Department of Financial Institutions, private fund advisers, regulation
Public Protection - Private fund advisers, regulation
Jump to Proposed Amendments Senate Committee Substitute 1
House Floor Amendment 1
House Floor Amendment 2
House Floor Amendment 3
House Floor Amendment 4
Votes Vote History
Governor's Veto Message Veto

Actions

Top | Amendments
02/10/23
  • introduced in Senate
  • to Committee on Committees (S)
02/14/23
  • to Banking & Insurance (S)
02/28/23
  • reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1)
03/01/23
  • 2nd reading, to Rules
  • posted for passage in the Consent Orders of the Day for Friday, March 03, 2023
03/03/23
  • 3rd reading, passed 34 -0 with Committee Substitute (1)
  • received in House
  • to Committee on Committees (H)
03/07/23
  • to Banking & Insurance (H)
03/13/23
  • taken from Banking & Insurance (H)
  • 1st reading
  • returned to Banking & Insurance (H)
03/14/23
  • taken from Banking & Insurance (H)
  • 2nd reading
  • returned to Banking & Insurance (H)
03/15/23
  • reported favorably, to Rules
03/16/23
  • taken from Rules
  • placed in the Orders of the Day
03/29/23
  • floor amendment (1) filed
03/30/23
  • floor amendments (2), (3) and (4-title) filed
  • 3rd reading, passed 91-6
  • received in Senate
  • enrolled, signed by President of the Senate
  • enrolled, signed by Speaker of the House
  • delivered to Governor
04/11/23
  • Vetoed

Proposed Amendments

Top | Actions
Amendment Senate Committee Substitute 1
Summary Retain original provisions, except restore existing law relating to exemption of investment advisers with no place of business in this state.
Index Headings Licensing - Investment advisers, registration exemptions
Securities - Investment advisers, registration exemptions

Amendment House Floor Amendment 1
Sponsor S. Rudy
Summary Delete exemption for investment advisers that do not have more than five clients in this state.
Index Headings Licensing - Investment advisers, registration exemptions
Securities - Investment advisers, registration exemptions

Amendment House Floor Amendment 2
Sponsor S. Rudy
Summary Delete original provisions; create new sections of KRS Chapter 147A to enable the Department for Local Government to enter a partnership with the Kentucky Council of Area Development Districts to create and administer the Government Resources Accelerating Needed Transformation Program; define terms; require the Department for Local Government in partnership with the Kentucky Council of Area Development Districts to create and administer the program; establish the duties of the Department for Local Government and the Kentucky Council of Area Development Districts in the implementation of the program; establish a sunset provision of December 31, 2026; establish requirements for grant applications; create a fund for the program; establish project evaluation and scoring requirements; establish program reporting requirements; cite as the Government Resources Accelerating NeededTransformation Act; APPROPRIATION.
Index Headings Economic Development - Government Resources Accelerating Needed Transformation Program, eligible use
Local Government - Government Resources Accelerating Needed Transformation Program, eligible use
Property - Government Resources Accelerating Needed Transformation Program, eligible use
Public Buildings and Grounds - Government Resources Accelerating Needed Transformation Program, eligible use
Public Health - Government Resources Accelerating Needed Transformation Program, eligible use
Public Utilities - Government Resources Accelerating Needed Transformation Program, eligible use
Sewer Systems - Government Resources Accelerating Needed Transformation Program, eligible use
State Agencies - Government Resources Accelerating Needed Transformation Program, eligible use
Telecommunications - Government Resources Accelerating Needed Transformation Program, eligible use
Short Titles and Popular Names - Government Resources Accelerating Needed Transformation Act
Workforce - Government Resources Accelerating Needed Transformation Program, eligible use
Transportation - Government Resources Accelerating Needed Transformation Program, eligible use
Water Supply - Government Resources Accelerating Needed Transformation Program, eligible use
Waterways and Dams - Government Resources Accelerating Needed Transformation Program, eligible use
Unified Local Governments - Government Resources Accelerating Needed Transformation Program, eligible use
Appropriations - Government Resources Accelerating Needed Transformation Program
Area Development Districts - Government Resources Accelerating Needed Transformation Program, eligible use
Cities - Government Resources Accelerating Needed Transformation Program, eligible use
Counties - Government Resources Accelerating Needed Transformation Program, eligible use

Amendment House Floor Amendment 3
Sponsor S. Rudy
Summary Create new sections of KRS Chapter 147A to enable the Department for Local Government to enter a partnership with the Kentucky Council of Area Development Districts to create and administer the Government Resources Accelerating Needed Transformation Program; define terms; require the Department for Local Government in partnership with the Kentucky Council of Area Development Districts to create and administer the program; establish the duties of the Department for Local Government and the Kentucky Council of Area Development Districts in the implementation of the program; establish a sunset provision of December 31, 2026; establish requirements for grant applications; create a fund for the program; establish project evaluation and scoring requirements; establish program reporting requirements; cite as the Government Resources Accelerating Needed Transformation Act; APPROPRIATION.
Index Headings Economic Development - Government Resources Accelerating Needed Transformation Program, eligible use
Local Government - Government Resources Accelerating Needed Transformation Program, eligible use
Property - Government Resources Accelerating Needed Transformation Program, eligible use
Public Buildings and Grounds - Government Resources Accelerating Needed Transformation Program, eligible use
Public Health - Government Resources Accelerating Needed Transformation Program, eligible use
Public Utilities - Government Resources Accelerating Needed Transformation Program, eligible use
Sewer Systems - Government Resources Accelerating Needed Transformation Program, eligible use
State Agencies - Government Resources Accelerating Needed Transformation Program, eligible use
Telecommunications - Government Resources Accelerating Needed Transformation Program, eligible use
Short Titles and Popular Names - Government Resources Accelerating Needed Transformation Act
Workforce - Government Resources Accelerating Needed Transformation Program, eligible use
Transportation - Government Resources Accelerating Needed Transformation Program, eligible use
Water Supply - Government Resources Accelerating Needed Transformation Program, eligible use
Waterways and Dams - Government Resources Accelerating Needed Transformation Program, eligible use
Unified Local Governments - Government Resources Accelerating Needed Transformation Program, eligible use
Appropriations - Government Resources Accelerating Needed Transformation Program
Area Development Districts - Government Resources Accelerating Needed Transformation Program, eligible use
Cities - Government Resources Accelerating Needed Transformation Program, eligible use
Counties - Government Resources Accelerating Needed Transformation Program, eligible use

Amendment House Floor Amendment 4
Sponsor S. Rudy
Summary Make title amendment.
Index Headings Title Amendments - SB 109/GA

Last updated: 11/9/2023 3:03 PM (EST)