11RS HB407
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HB407

11RS

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HB 407 (BR 448) - R. Palumbo, T. Thompson

     AN ACT relating to economic development.
     Create new sections of KRS 154.20 to create definitions and to establish the construction loan guarantee program; apply to commercial building construction projects; allow agency to issue loan guarantees of up to 25% of loan principal; require consideration of impact on economic development, credit-worthiness of borrower, and other factors; require application and approval process and set other standards; allow sales tax on purchases related to the project to be used to fund loan program; sunset program in 2016; create a new section of KRS 154.20 to establish the construction loan guarantee account to fund the loan guarantee program; provide for reporting and disposition of funds.

HB 407 - AMENDMENTS


     HFA (1, R. Palumbo) - Delete provisions creating the sales tax funding mechanism.

     Feb 9-introduced in House
     Feb 10-to Economic Development (H); posting waived
     Feb 15-reported favorably, 1st reading, to Consent Calendar
     Feb 16-2nd reading, to Rules
     Feb 17-taken from Rules (H); placed in the Orders of the Day for Friday, February 18, 2011; floor amendment (1) filed
     Feb 18-3rd reading, passed 77-18 with floor amendment (1) ; received in Senate
     Feb 23-to Appropriations & Revenue (S)

Vote History
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