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Bill > HB229
KY HB229
KY HB229AN ACT relating to housing, making an appropriation therefor, and declaring an emergency.
summary
Introduced
01/07/2026
01/07/2026
In Committee
01/14/2026
01/14/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
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 a 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.
AI Summary
This bill establishes an "Affordable Housing Loan Pool Fund" administered by the Kentucky Housing Corporation (KHC) to provide loans for the construction or rehabilitation of housing for individuals and families earning up to 100% of the area median income, with specific loan terms and deed restrictions to ensure affordability for at least 15 years. It also modifies the existing "Housing Development Fund" to allow for broader use of funds for technical and administrative costs and to clarify loan terms, and creates a new "Affordable Housing Credit" for taxpayers who develop qualified low-income housing projects, which is awarded by the KHC and can be transferred to other parties, with limitations on the amount per taxpayer and in aggregate each year, and requires the Department of Revenue to report on these credits. Additionally, the bill appropriates $102,000,000 from the Budget Reserve Trust Fund for these affordable housing initiatives, declaring an emergency to allow the act to take effect on July 1, 2026.
Committee Categories
Budget and Finance
Sponsors (15)
Joshua Watkins (D)*,
Chad Aull (D),
Tina Bojanowski (D),
George Brown (D),
Adrielle Camuel (D),
Beverly Chester-Burton (D),
Anne Donworth (D),
Al Gentry (D),
Erika Hancock (D),
Matthew Lehman (D),
Mary Marzian (D),
Adam Moore (D),
Sarah Stalker (D),
Pamela Stevenson (D),
Lisa Willner (D),
Last Action
to Appropriations & Revenue (H) (on 01/14/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.legislature.ky.gov/record/26RS/hb229.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb229/orig_bill.pdf |
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