HB-007
GovernorRestructuring the Digital Infrastructure Securitisation Act
Type: Bill
Fiscal Impact: Minimal
Introduced: Apr 16, 2026
Summary
An Act restructuring the applicable statutory provisions of the Kentucky Revised Statutes with respect to digital infrastructure securitisation; prescribing procedures, standards, and responsibilities; authorising the promulgation of administrative regulations; and providing for related matters.
Full Text
WHEREAS recent administrative experience has demonstrated material deficiencies in the statutory scheme pertaining to digital infrastructure securitisation;
WHEREAS the applicable provisions of the Kentucky Revised Statutes relating to digital infrastructure securitisation have not been substantively revised within the preceding statutory review cycle;
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE COMMONWEALTH OF KENTUCKY:
SECTION 1. Legislative Findings and Declarations of Policy.
The General Assembly hereby finds that the digital infrastructure securitisation in the Commonwealth requires responsive and efficient statutory governance. It is the declared policy of this Commonwealth to ensure that the regulatory framework governing said digital infrastructure securitisation is modern, equitable, and aligned with current best practices.
SECTION 2. Environmental Review.
In the event any provision of this Act, or the application thereof to any person or set of circumstances, is held to be invalid, such invalidity shall not affect other provisions or applications of this Act which can be given effect without the invalid provision or application, and to this end the provisions of this Act are declared to be severable.
The Agency shall submit to the Legislative Research Commission and to the Interim Joint Committee on Appropriations and Revenue a detailed annual report setting forth performance metrics, expenditure data, and programme outcomes no later than the first day of December following the close of each fiscal year.
SECTION 3. Procedural Safeguards.
Notwithstanding any provision of law to the contrary, any funds appropriated pursuant to this Act shall remain available for expenditure until the conclusion of the fiscal biennium in which they were appropriated, subject to the standard allotment and encumbrance procedures of the Finance and Administration Cabinet.
To the extent practicable and consistent with applicable civil rights laws, the Agency shall endeavour to ensure that the benefits and services authorised under this Act are administered in an equitable and nondiscriminatory manner across all regions and demographic groups within the Commonwealth.
SECTION 4. Reporting Requirements.
To the extent practicable and consistent with applicable civil rights laws, the Agency shall endeavour to ensure that the benefits and services authorised under this Act are administered in an equitable and nondiscriminatory manner across all regions and demographic groups within the Commonwealth.
SECTION 5. Definitions.
"Qualified Entity" means any person or organisation that meets the eligibility criteria established pursuant to Section 3 of this Act.
"Agency" means any executive branch department, office, board, bureau, commission, or other instrumentality of the Commonwealth.
"Permit" means any licence, certificate, registration, approval, or other authorisation issued pursuant to this Act or the administrative regulations promulgated thereunder.
"Governing Body" means the county fiscal court, the municipal legislative body, or such other local governmental entity vested with general legislative authority.
SECTION 6. Effective Date.
This Act shall take effect ninety (90) days following its enactment into law.
SECTION 7. Severability.
In the event any provision of this Act, or the application thereof to any person or set of circumstances, is held to be invalid, such invalidity shall not affect other provisions or applications of this Act which can be given effect without the invalid provision or application, and to this end the provisions of this Act are declared to be severable.
Legislative Proceedings
49 entriesMr. President / Mr. Speaker, on behalf of my constituents and in fulfilment of my legislative duties, I introduce HB-007.
I second the motion to introduce HB-007 and concur that it warrants the serious attention of this chamber.
The Chair announces that HB-007 has been referred from initial introduction to open debate in accordance with the standing rules of this chamber.
The distinguished member who introduced this legislation is to be commended. HB-007 addresses long-standing deficiencies in our statutory framework and will materially benefit the people of this Commonwealth.
Mr. President / Mr. Speaker, the merits of HB-007 speak for themselves. This chamber would be well-served by swift and favourable action on this legislation.
The distinguished member who introduced this legislation is to be commended. HB-007 addresses long-standing deficiencies in our statutory framework and will materially benefit the people of this Commonwealth.
While I appreciate the intent behind HB-007, I believe the preferable course is to refer this matter back to committee for further refinement of its definitional provisions.
After careful consideration of expert testimony and review of comparable legislation in sister states, the committee reports HB-007 favourably and without amendment.
I request the indulgence of this chamber for a brief closing statement on HB-007. This legislation has been long in coming and I am grateful for the collegial process that has brought it to this point.
I vote nay and respectfully express my concern that further deliberation is warranted.
Yea. I commend the sponsoring member for bringing this matter before the chamber.
I cast my vote in the affirmative, consistent with the wishes of my constituents and my own studied review of this measure.
Yea. I commend the sponsoring member for bringing this matter before the chamber.
Nay. I look forward to working with the sponsor on an amended version in a future session.
I cast my vote in the negative, consistent with my responsibility to ensure the fiscal integrity of this Commonwealth.
Nay. I look forward to working with the sponsor on an amended version in a future session.
Yea. This legislation serves the public interest and merits the affirmative vote of this chamber.
I cast my vote in the negative, consistent with my responsibility to ensure the fiscal integrity of this Commonwealth.
I vote nay and respectfully express my concern that further deliberation is warranted.
Nay. The measure as drafted requires revision before it can command my support.
Nay. The measure as drafted requires revision before it can command my support.
I vote yea and record my support for the advancement of sound public policy.
Nay. I look forward to working with the sponsor on an amended version in a future session.
Nay. The measure as drafted requires revision before it can command my support.
I vote nay and respectfully express my concern that further deliberation is warranted.
I cast my vote in the negative, consistent with my responsibility to ensure the fiscal integrity of this Commonwealth.
Yea. This legislation serves the public interest and merits the affirmative vote of this chamber.
Yea. This legislation serves the public interest and merits the affirmative vote of this chamber.
Nay. I look forward to working with the sponsor on an amended version in a future session.
I vote nay and respectfully express my concern that further deliberation is warranted.
I vote yea and record my support for the advancement of sound public policy.
I vote nay and respectfully express my concern that further deliberation is warranted.
I cast my vote in the negative, consistent with my responsibility to ensure the fiscal integrity of this Commonwealth.
Nay. The measure as drafted requires revision before it can command my support.
I cast my vote in the affirmative, consistent with the wishes of my constituents and my own studied review of this measure.
Nay. The measure as drafted requires revision before it can command my support.
Nay. I look forward to working with the sponsor on an amended version in a future session.
I vote yea and record my support for the advancement of sound public policy.
I vote yea and record my support for the advancement of sound public policy.
I vote yea and record my support for the advancement of sound public policy.
I cast my vote in the negative, consistent with my responsibility to ensure the fiscal integrity of this Commonwealth.
Nay. I look forward to working with the sponsor on an amended version in a future session.
Nay. The measure as drafted requires revision before it can command my support.
Yea. I commend the sponsoring member for bringing this matter before the chamber.
Nay. The measure as drafted requires revision before it can command my support.
Nay. The measure as drafted requires revision before it can command my support.
I vote yea and record my support for the advancement of sound public policy.
The Clerk is directed to transmit HB-007, having passed this chamber, to the other chamber for its concurrence.
HB-007, having passed both chambers of the General Assembly, is transmitted to the Governor for signature or other action.
Bill Progress
- Draft
- Debate
- Committee
- Floor Vote
- Other Chamber
- Governor
- Enacted