summary
Introduced
03/02/2026
03/02/2026
In Committee
03/11/2026
03/11/2026
Crossed Over
Passed
Dead
Introduced Session
Potential new amendment
2026 Regular Session
Bill Summary
Amend KRS 209.990 to add persons age 65 and older to who can be a victim of exploitation; increase the amount of money lost to a person who knowingly exploits a victim from more than $300 to more than $500 and increase the penalty from a Class C felony to a Class B felony; increase the amount of money lost to a person who wantonly or recklessly exploits a victim from more than $300 to more than $500 and increase the penalty from a Class D felony to a Class C felony; increase the amount of money lost to a person who knowingly, wantonly, or recklessly exploits a victim from $300 or less to $500 or less and increase the penalty from a Class A misdemeanor to a Class D felony; allow the Attorney General to demand the Governor of another state to surrender a person found in another state who is charged in Kentucky with exploitation; amend KRS 292.338 to require registered investment advisor representatives to complete at least 3 hours of continuing education covering financial exploitation each reporting period; amend KRS 365.245 to require a qualified person to create and maintain a record of a temporary hold, develop training policies and programs and conduct training on issues regarding financial exploitation, and develop, maintain, and enforce procedures regarding internal review before placing a temporary hold a specified adult's account.
AI Summary
This bill strengthens protections against financial exploitation, particularly for individuals aged 65 and older, by increasing penalties for those who exploit victims. It raises the financial threshold for exploitation offenses from $300 to $500, with corresponding increases in felony classifications, meaning more severe punishments for offenders. For instance, knowingly exploiting a victim and causing a loss of over $500 now constitutes a Class B felony, up from a Class C felony. The bill also empowers the Attorney General to request the extradition of individuals charged with exploitation in Kentucky from other states, even if the crime occurred outside of Kentucky. Furthermore, it mandates that registered investment advisor representatives complete at least 3 hours of continuing education on financial exploitation each reporting period, ensuring they are better equipped to identify and prevent such crimes. Finally, financial institutions and other qualified entities are now required to develop training programs on financial exploitation, maintain records of temporary account holds placed to prevent exploitation, and establish internal review procedures before placing such holds, adding crucial safeguards for vulnerable adults.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
2nd reading, to Rules (on 03/12/2026)
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/hb794.html |
| Corrections Impact to House Committee Substitute 1 | https://apps.legislature.ky.gov/recorddocuments/note/26RS/hb794/HCS1CI.pdf |
| House Committee Substitute 1 | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/HB794/HCS1.pdf |
| Corrections Impact for HCS1 | https://apps.legislature.ky.gov/recorddocuments/note/26RS/hb794/HCS1CI.pdf |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/26RS/hb794/orig_bill.pdf |
| Corrections Impact | https://apps.legislature.ky.gov/recorddocuments/note/26RS/hb794/CI.pdf |
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