HB 42 (BR 247) - J. Draud
AN ACT relating to revenue bonds for city or county projects.
Amend KRS 103.2101 to require approval by the state local debt officer in addition to the Kentucky Private Activity Bond Allocation Committee for certain projects; require substantiating documentation for findings of competitive disadvantage and lack of normal commercial financing; allow review for project's economic growth and job-creation potential; impose maximum bond term of 20 years.
HB 42 - AMENDMENTS
HCS - Amend KRS 103.200 to define "substantiating documentation"; amend KRS 103.2101 to include state local debt officer in project review, require written statement that relevant authorities have been notified of negative revenue impact of economic development project for advisory purposes, place limits on time of bond issues; Non-codified to allow projects under consideration by February 1, 2006 to operate under existing program guidelines.
(Prefiled by the sponsor(s).)
Sep 7-To: Interim Joint Committee on Economic Development and Tourism
Jan 3-introduced in House; to Local Government (H)
Jan 11-posted in committee
Feb 7-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 8-2nd reading, to Rules
Feb 14-recommitted to State Government (H)
Feb 24-posted in committee
Feb 28-reported favorably, to Rules
Mar 2-posted for passage in the Regular Orders of the Day for Friday, March 3, 2006
Mar 9-3rd reading, passed 95-0 with Committee Substitute
Mar 10-received in Senate
Mar 14-to State and Local Government (S)
Mar 24-reported favorably, 1st reading, to Consent Calendar
Apr 10-2nd reading, to Rules
Apr 11-posted for passage in the Consent Orders of the Day for Tuesday, April 11, 2006; 3rd reading, passed 38-0
Apr 12-received in House; enrolled, signed by each presiding officer; delivered to Governor
Apr 22-signed by Governor (Acts ch. 228)