26RS HB 577

House Bill 577

Actions

Last Action	02/06/26: to Committee on Committees (H)
Title	AN ACT relating to economic development.
Bill Documents	Introduced
Bill Request Number	1044
Sponsor	J. Branscum
Summary of Original Version	Amend KRS 154.12-300, 154.12-305, and 154.12-300 to change the Kentucky Innovation and Commercialization Center program to the Kentucky Entrepreneurship and Innovation Hub Program; amend KRS 154.12-300 to define terms; amend KRS 154.12-305 to add goals of supporting entrepreneur-led economic development and attracting workforce talent, investors, and start-up companies to the program; amend KRS 154.12-310 to make conforming changes; amend KRS 164.6011 to include definitions of "early-stage company" and "high-growth company" in the Kentucky Innovation Act; amend KRS 164.6019 to provide that moneys received in the Kentucky enterprise fund may be subject to restrictions imposed by the contributing entity and subject to approval by the Cabinet for Economic Development; amend KRS 164.6021 to make conforming changes and add the purpose of the Kentucky enterprise fund is to attract, recruit, and support early-stage and high-growth companies to locate, relocate, or establish a presence in the Commonwealth; amend KRS 164.6023 to allow companies based outside of Kentucky to be eligible by becoming a Kentucky-based company within 180 days after certification authorizing funding; amend KRS 154.20-234 to allow a pass-through entity to qualify for participation in the Angel Investor Program; make conforming changes.
Index Headings of Original Version	Economic Development - Kentucky enterprise fund Economic Development - Kentucky Entrepreneurship and Innovation Hub Program, early-stage and high-growth companies Economic Development - Angel Investor Program, eligibility Funds - Kentucky enterprise fund Information Technology - Kentucky Entrepreneurship and Innovation Hub Program, early-stage and high-growth companies Science And Technology - Kentucky enterprise fund Science And Technology - Kentucky Entrepreneurship and Innovation Hub Program, early-stage and high-growth companies Small Business - Kentucky enterprise fund Small Business - Kentucky Entrepreneurship and Innovation Hub Program, early-stage and high-growth companies State Agencies - Cabinet for Economic Development, Kentucky enterprise fund State Agencies - Cabinet for Economic Development, Kentucky Entrepreneurship and Innovation Hub Program Technology - Kentucky enterprise fund Technology - Kentucky Entrepreneurship and Innovation Hub Program, early-stage and high-growth companies