LRC Seal



WWW Version

The hyperlink to a bill draft that precedes a summary contains the most recent version (Introduced/GA/Enacted) of the bill. If the session has ended, the hyperlink contains the latest version of the bill at the time of sine die adjournment. Note that the summary pertains to the bill as introduced, which is often different from the most recent version.

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.


     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
Legislature Home Page | Record Front Page