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Bill > SB197


KY SB197

KY SB197
AN ACT providing funding and establishing conditions for state government agencies and institutions, making an appropriation therefor, and declaring an emergency.


summary

Introduced
02/13/2026
In Committee
04/15/2026
Crossed Over
03/10/2026
Passed
04/15/2026
Dead

Introduced Session

2026 Regular Session

Bill Summary

Create a new section of Subchapter 32 of KRS Chapter 154 to establish a tiered county system for eligible companies to receive incentives under the Kentucky Business Investment Program; amends KRS 154.32-010 to define "tier"; amends KRS 154.32-020 and 154.32-040 to conform; amend KRS 154.32-050 to specify tiering procedures; amend KRS 154.32-060 to require the Kentucky Economic Development Finance Authority to identify and certify or decertify the tiers for all counties on an annual basis into 4 tax credit tiers; provide that the incentives available under this subchapter be determined based on the county where the economic development project is located by an approved company; provide a county's tier will be based on a 5 year average of its unemployment rate and population ranking; amend KRS 154.32-090, 154.61-010, 154.61-020, and 141.383 to conform.

AI Summary

This bill provides funding and establishes conditions for state government agencies and institutions, declaring an emergency for its immediate effect. Key provisions include allocating funds for disaster and emergency aid, including specific amounts for the relocation of students and temporary shelters due to a presidentially declared disaster, and ensuring FEMA reimbursements are deposited into the Budget Reserve Trust Fund Account. It also modifies the Kentucky Business Investment Program to create a tiered county system for incentives based on unemployment and population, and makes various adjustments to appropriations and program funding across different state agencies, including those related to education, economic development, public health, and postsecondary education, with specific allocations for initiatives like school-based mental health services, career and technical education, and research programs. The bill also addresses capital project funding, debt service, and operational budgets for various state entities, and includes provisions for employee compensation reporting, school district insurance coverage, and the management of postsecondary institution property. Furthermore, it outlines specific funding for programs such as the Bluegrass State Skills Corporation, the Center for School Safety, and various scholarship and grant programs, while also reauthorizing and adjusting funding for capital projects like airport runway expansions and facility upgrades across the state.

Committee Categories

Budget and Finance, Business and Industry

Sponsors (5)

Last Action

House Committee Amendment - House Committee Amendment 2 (on 04/16/2026)

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