26RS HB 229

House Bill 229

Actions

Last Action	01/07/26: to Committee on Committees (H)
Title	AN ACT relating to housing, making an appropriation therefor, and declaring an emergency.
Bill Documents	Introduced
Bill Request Number	202
Sponsors	J. Watkins, P. Stevenson, C. Aull, T. Bojanowski, G. Brown Jr., A. Camuel, B. Chester-Burton, A. Donworth, A. Gentry, E. Hancock, M. Lehman, M. Marzian, A. Moore, S. Stalker, L. Willner
Summary of Original Version	Create a new section of KRS Chapter 198A to create the affordable housing loan pool fund to be administered by the Kentucky Housing Corporation to provide rehabilitation and construction loans to eligible entities; specify terms and process; amend KRS 198A.080 to modify criteria for housing development loan fund, require notice of eligible funds, and allow expenditure of funds for technical and administrative costs; create new section of KRS Chapter 198A to establish parameters by which the Kentucky Housing Corporation shall review and approve the affordable housing credit; create a new section of KRS Chapter 141 to establish the affordable housing credit; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credits; appropriate $102,000,000 from the Budget Reserve Trust Fund account for various affordable housing initiatives; APPROPRIATION; EMERGENCY.
Index Headings of Original Version	Funds - Kentucky Housing Corporation, affordable housing loan pool fund, establishment Funds - Kentucky Housing Corporation, housing development fund, modification Appropriations - Affordable housing loan pool fund Appropriations - Housing development fund Budget And Financial Administration - Affordable housing loan pool fund, establishment Budget And Financial Administration - Housing development fund, modification Housing, Building, And Construction - Affordable housing credit, new construction or substantial rehabilitation Housing, Building, And Construction - Affordable housing loan pool fund, establishment Housing, Building, And Construction - Housing development fund, modification Local Government - Affordable housing loan pool fund, establishment Poverty - Affordable housing loan pool fund, establishment Poverty - Housing development fund, modification State Agencies - Kentucky Housing Corporation, affordable housing loan pool fund, establishment State Agencies - Kentucky Housing Corporation, housing development fund, modification Taxation - Income tax, affordable housing credit Taxation, Income--Corporate - Affordable housing credit Taxation, Income--Individual - Affordable housing credit Effective Dates, Emergency - Affordable housing loan pool fund, establishment, July 1, 2026 Effective Dates, Emergency - Housing development fund, modification, July 1, 2026