26RS HB 869

House Bill 869

Actions

Last Action	03/03/26: to Committee on Committees (H)
Title	AN ACT relating to economic development, making an appropriation therefor, and declaring an emergency.
Bill Documents	Introduced
Bill Request Number	469
Sponsors	A. Bowling, J. Petrie
Summary of Original Version	Create a new section of Subchapter 20 of KRS Chapter 154 to establish the rural building and job creation revolving fund; specify uses of the fund to assist with compliance risk mitigation for the New Markets Tax Credits Program, or to issue low-interest loans to assist with construction of new buildings or renovations of existing buildings for lease to target wage economic development projects; require the Cabinet for Economic Development to report on the fund; create a new section of Subchapter 12 of KRS Chapter 154 to require the cabinet to work with the workforce liaison appointed by the president of the Kentucky Career and Technical College System to promote jobs created in the Commonwealth as a result of incentive programs; require the cabinet to conduct a feasibility and impact study on interstate reciprocity between state economic development programming; amend the general fund appropriation authorized in 2022 Ky. Acts ch. 199, Part I, B, 1.,(12) to not lapse and carry forward; APPROPRIATION; EMERGENCY.
Index Headings of Original Version	Economic Development - Rural building and job creation revolving fund, establishment Economic Development - Interstate reciprocity, state economic development programming, study Economic Development - Workforce liaison, KCTCS and Cabinet for Economic Development collaboration Funds - Rural building and job creation revolving fund, establishment Studies Directed - Center for Economic and Entrepreneurial Development at Murray State University, collaboration Appropriations - Rural building and job creation revolving fund, establishment Effective Dates, Emergency - Rural building and job creation revolving fund, establishment Reports Mandated - Center for Economic and Entrepreneurial Development at Murray State University, collaboration