SB-020
FailedStandardising the Economic Development Incentivisation Act
Type: Bill
Fiscal Impact: Significant
Introduced: May 7, 2026
Summary
An Act standardising the applicable statutory provisions of the Kentucky Revised Statutes with respect to economic development incentivisation; prescribing procedures, standards, and responsibilities; authorising the promulgation of administrative regulations; and providing for related matters.
Full Text
WHEREAS the public health, safety, and welfare of the citizens of this Commonwealth requires legislative action with respect to economic development incentivisation;
WHEREAS fiscal prudence and governmental efficiency necessitate the revision of economic development incentivisation;
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 economic development incentivisation 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 economic development incentivisation is modern, equitable, and aligned with current best practices.
SECTION 2. Revenue Allocation.
All state agencies and political subdivisions receiving funds appropriated pursuant to this Act are required to maintain adequate financial records, consistent with generally accepted governmental accounting standards, and shall provide access to such records upon written request by the Auditor of Public Accounts.
SECTION 3. Intergovernmental Cooperation.
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.
Any person who knowingly violates the provisions of this Act, or any administrative regulation promulgated thereunder, shall be subject to a civil penalty not to exceed Five Thousand Dollars ($5,000) per violation per day. The Agency shall have authority to assess such penalties following a duly noticed administrative hearing conducted in conformance with KRS Chapter 13B.
SECTION 4. Definitions.
"Agency" means any executive branch department, office, board, bureau, commission, or other instrumentality of the Commonwealth.
"Qualified Entity" means any person or organisation that meets the eligibility criteria established pursuant to Section 3 of this Act.
"Applicant" means any natural person, corporation, partnership, limited liability company, or other legal entity that submits a completed application pursuant to this Act.
"Regulated Activity" means any commercial, industrial, agricultural, or professional activity subject to oversight under the provisions of this Act.
SECTION 5. Effective Date.
This Act shall take effect ninety (90) days following its enactment into law.
SECTION 6. 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
27 entriesMr. President / Mr. Speaker, I rise to introduce SB-020, a measure of considerable importance to the citizens of this Commonwealth.
I second the motion to introduce SB-020 and concur that it warrants the serious attention of this chamber.
The Chair announces that SB-020 has been referred from initial introduction to open debate in accordance with the standing rules of this chamber.
The relevant committee has undertaken a thorough review of SB-020. I am satisfied that the bill is technically sound, fiscally responsible, and constitutionally defensible.
Mr. President / Mr. Speaker, the merits of SB-020 speak for themselves. This chamber would be well-served by swift and favourable action on this legislation.
The standing committee has reviewed SB-020 and, following deliberation, reports it favourably to the full chamber with the following amendments: technical corrections to Section 2 and clarification of the definition provision in Section 1.
Before we proceed to the vote, I urge all members to reflect carefully on the implications of SB-020 for our constituents. The record speaks for itself.
I cast my vote in the negative, consistent with my responsibility to ensure the fiscal integrity of this Commonwealth.
I cast my vote in the negative, consistent with my responsibility to ensure the fiscal integrity of this Commonwealth.
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 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 vote nay and respectfully express my concern that further deliberation is warranted.
Nay. I look forward to working with the sponsor on an amended version in a future session.
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.
Yea. This legislation serves the public interest and merits the affirmative vote of this chamber.
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.
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 cast my vote in the negative, consistent with my responsibility to ensure the fiscal integrity of this Commonwealth.
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.
I cast my vote in the affirmative, consistent with the wishes of my constituents and my own studied review of this measure.
It is the determination of the Chair that SB-020 has failed of passage. The Clerk shall note the final vote in the journal.
Bill Progress
- Draft
- Debate
- Committee
- Floor Vote
- Other Chamber
- Governor
- Enacted