Bill > HB576

This bill establishes the Kentucky Talent Recruitment Grant Program, administered by the Cabinet for Economic Development, to incentivize individuals and households earning at least $60,000 annually to relocate to Kentucky. The program, overseen by the Kentucky Economic Development Authority (KEDA), will provide grants of up to $500,000 to eligible applicants, such as city or county governments, or non-profit organizations focused on economic development, who propose plans to recruit talent from outside the state. These applicants must contribute 20% of the total project cost, which can include local investments or in-kind donations, and will receive grant funds in two installments: 50% upon agreement and the remaining 50% after meeting half of their recruitment goals. The bill also creates a dedicated fund for the program, which will carry over unspent funds to the next fiscal year, and appropriates $5 million over two fiscal years to support these recruitment efforts, declaring an emergency to allow for immediate implementation.

Business and Industry

https://apps.legislature.ky.gov/record/26RS/hb576.html