SB-022
FailedConsolidating the Digital Infrastructure Securitisation Act
Type: Bill
Fiscal Impact: Minimal
Introduced: May 10, 2026
Summary
An Act consolidating 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 the Commonwealth of Kentucky has a compelling interest in the orderly administration of 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. Prohibition on Preemption.
The Agency shall, in consultation with the relevant Interim Joint Committee, undertake a comprehensive review of the programme established by this Act no later than four (4) years following its effective date and shall report findings and any recommended statutory modifications to the General Assembly.
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.
SECTION 3. Scope and Application.
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.
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. 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 5. Revenue Allocation.
The Agency is hereby authorised and directed to promulgate administrative regulations in accordance with KRS Chapter 13A to implement the provisions of this Act, including but not limited to regulations establishing application procedures, eligibility criteria, and reporting requirements.
This Act shall be interpreted and construed in a manner consistent with the legislative intent to promote fiscal responsibility, governmental efficiency, and the welfare of all citizens of the Commonwealth, and shall be liberally construed to effectuate its remedial purposes.
SECTION 6. Definitions.
"Programme" means the scheme of activities, services, and financial assistance established by this Act and administered by the Agency.
"Commissioner" means the duly appointed and confirmed Commissioner of the relevant Department as established pursuant to KRS Chapter 12.
"Governing Body" means the county fiscal court, the municipal legislative body, or such other local governmental entity vested with general legislative authority.
"Permit" means any licence, certificate, registration, approval, or other authorisation issued pursuant to this Act or the administrative regulations promulgated thereunder.
SECTION 7. Effective Date.
This Act shall take effect ninety (90) days following its enactment into law.
SECTION 8. 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
25 entriesMr. President / Mr. Speaker, on behalf of my constituents and in fulfilment of my legislative duties, I introduce SB-022.
I second the motion to introduce SB-022 and concur that it warrants the serious attention of this chamber.
The Chair announces that SB-022 has been referred from initial introduction to open debate in accordance with the standing rules of this chamber.
Mr. President / Mr. Speaker, the merits of SB-022 speak for themselves. This chamber would be well-served by swift and favourable action on this legislation.
I rise in strong support of SB-022. Having reviewed the bill's provisions in detail, I am persuaded that its enactment represents sound fiscal and legislative policy, and I urge my colleagues to vote affirmatively.
Mr. President / Mr. Speaker, the merits of SB-022 speak for themselves. This chamber would be well-served by swift and favourable action on this legislation.
I cannot in good conscience support SB-022 without further committee review of its fiscal implications, which the Legislative Research Commission has not yet had adequate opportunity to assess.
The standing committee has reviewed SB-022 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-022 for our constituents. The record speaks for itself.
I vote nay and respectfully express my concern that further deliberation is warranted.
I vote nay and respectfully express my concern that further deliberation is warranted.
I cast my vote in the affirmative, consistent with the wishes of my constituents and my own studied review of this measure.
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.
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.
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.
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.
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.
Nay. I look forward to working with the sponsor on an amended version in a future session.
It is the determination of the Chair that SB-022 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