Bill > HB683

This bill establishes the Burnside Island Development Authority (BIDA) as an independent entity to develop, finance, operate, maintain, improve, and promote lodging, restaurant facilities, and recreational amenities on General Burnside Island State Park and the surrounding area, aiming to boost economic development and tourism. BIDA will be governed by a board of directors composed of various state and local officials, as well as appointees from the City of Burnside and Pulaski County, with specific roles and duties outlined. The authority and its board will be subject to the Kentucky Open Meetings Act and Kentucky Open Records Act, ensuring transparency in their operations. Importantly, BIDA will require authorization from the General Assembly before selling or disposing of state-owned real property valued over $400,000 that is managed by the Department of Parks. The bill also clarifies that any bond debt incurred by BIDA will be solely payable from the revenue generated by those bonds, not from the Commonwealth's general funds. Additionally, the Department of Parks will continue to operate and maintain the park until a private partner agreement is in place with BIDA, and the acquisition or lease of General Burnside Island State Park will be exempt from taxation. The initial terms of some board members will be staggered to ensure continuity.

https://apps.legislature.ky.gov/record/26RS/hb683.html