Title XII, Conservation and State Development

(1) There is established the Kentucky Entrepreneurship and Innovation Hub Program within the Office of Entrepreneurship and Innovation. The goal of the program is to create products, new companies, and value-added jobs in communities throughout the Commonwealth. Strategies to ach…

Organization powers and duties of executive director of Office of Entrepreneurship and Innovation. (1) The program hubs are private-public partnerships, operating as a cohesive statewide infrastructure to support the implementation of key Kentucky Innovation Act initiatives. (2) …

The Kentucky Science and Technology Corporation shall administer and manage the Kentucky Science and Engineering Foundation as a means to increase Kentucky's capacity to become a leader state in competitive research by attracting more research funding from all sources to the Comm…

As used in KRS 154.12-325 and 154.12-330: (1) "Affiliate" has the same meaning as provided in KRS 154.22-010(2); (2) "Full-time employee" means a person employed for a minimum of thirty-five (35) hours per week and subject to the tax imposed by KRS 141.020; (3) "Service or techno…

$100,000 limit -- Requirements. (1) The Kentucky Economic Development Finance Authority is hereby authorized to develop and fund a small business loan program to assist new or existing small businesses operating in the Commonwealth. The authority may lend up to one hundred thousa…

As used in KRS 154.12-342 to 154.12-348: (1) "Authority" means the Kentucky Economic Development Finance Authority; (2) "Cabinet" means the Cabinet for Economic Development; (3) "Eligible grant applicant" means a county or city governing body, or entity organized under Kentucky l…

(1) The Kentucky Talent Recruitment Grant Program is hereby established under the cabinet. The cabinet's administration of the program includes but is not limited to the following: (a) Creating and making available a grant application for eligible grant applicants to apply for pr…

(1) Applications for the program shall include: (a) At least one (1) eligible project; (b) The total estimated cost of the program; and (c) The individual estimated costs associated with the program design, administration, marketing, and relocation efforts. (2) Eligible grant app…

(1) There is hereby established in the State Treasury a trust and agency account to be known as the Kentucky Talent Recruitment Grant Program fund. (2) The fund shall consist of moneys appropriated by the General Assembly, gifts, grants, federal funds, or other funds made availab…

As used in this subchapter: (1) "Cabinet" means the Cabinet for Economic Development; (2) "County population ranking" means the score of each county determined by the cabinet under KRS 154.14-050(7); (3) "Eligible grant applicant" means a county or city governing body, any entity…

Program -- Administration -- Administrative regulations -- Operation -- Sunset -- Assistance by area development districts and state universities -- Identification of and application for available federal grants. (1) The Government Resources Accelerating Needed Transformation Pro…

applications monthly and provide final decision -- Compliance with match and reporting requirements -- Length of obligation -- Repercussion for noncompliance. (1) (a) To participate in the GRANT Program, eligible grant applicants shall submit either a standardized or a regional g…

Scoring system -- County population ranking -- Regional projects. (1) The cabinet shall not approve a project unless it finds that the project is in the public interest and the grant funds will be used for a public purpose. For purposes of this subsection, projects that are in th…

(1) There is hereby established in the State Treasury a trust and agency account to be known as the GRANT Program fund. The fund shall consist of moneys received from state appropriations, gifts, grants, and federal funds. (2) The fund shall be administered and maintained by the …

(1) (a) By June 1, 2024, and the first day of each month thereafter, the cabinet shall submit a report on eligible project applications to the Governor and the Senate Standing Committee on Appropriations and Revenue and the House Standing Committee on Appropriations and Revenue, …

As used in this subchapter: (1) "Authority" means the Kentucky Communications Network Authority; (2) "Board" means the Board of the Kentucky Communications Network Authority; (3) "Network" or "KentuckyWired" means the Commonwealth's open-access broadband network; and (4) "Partner…

Powers. (1) The Kentucky Communications Network Authority is established and shall be attached to the Finance and Administration Cabinet for administrative purposes. (2) The duties of the authority shall be to: (a) Oversee and maintain KentuckyWired, the Commonwealth's open-acces…

Membership -- Duties -- Meetings -- Committees. (1) The Board of the Kentucky Communications Network Authority is established. The board shall be attached administratively to the Finance and Administration Cabinet. (2) The board shall consist of: (a) The chief information officer…

Officers. (1) There is created and established within the cabinet, subject to the authority of the board, the Kentucky Economic Development Finance Authority as an agency, instrumentality, and political subdivision of the Commonwealth and a public body corporate and politic with …

(1) The secretary shall be authorized to commit the cabinet to any project or proposal, subject to approval of the committee as necessary except that any state incentive agreement requiring the participation of other agencies of state government shall require the concurrence of t…

during review of applications. During the review of applications under Subchapter 12, 22, 23, 24, 25, 26, 27, 28, 32, or 34 of KRS Chapter 154, the secretary of the Cabinet for Economic Development shall have the authority to consider a resident of one (1) of Kentucky's seven (7)…

KRS 154.20-030 to 154.20-150 shall be known as the Kentucky Development Finance Act.

It shall be the purpose of the Kentucky Economic Development Finance Authority to develop and expand existing and alternative sources of energy and the conservation of energy, to assist business enterprise in obtaining additional sources of financing to aid this state in achievin…

administrative and operational expenses. (1) The authority shall have all the powers necessary or convenient to carry out and effectuate the purposes and provisions of Subchapters 20 to 28, 30 to 34, and 60 of this chapter, including but not limited to: (a) Employing fiscal consu…

bonds or notes -- Terms -- Tax exemption. (1) The authority may, upon approval of the board, borrow money and issue bonds or notes in accordance with KRS 154.10-035 and other provisions of this chapter appertaining, subject to KRS 42.420, for the following purposes: (a) To provid…

(1) Loan insurance shall be funded by an account, which shall be established and managed by the authority, to be known as the loan insurance account. (2) The authority shall pay into the account any money appropriated or otherwise provided by this state for that purpose; any mone…

(1) The authority may insure, guarantee, or issue letters of credit for all or a part of a loan or debenture of others, public or private. (2) The authority may insure, guarantee, or issue letters of credit for all or a part of a lease entered into by others, public or private. (…

To provide loan insurance pursuant to KRS 154.20-040 and 154.20-045, the authority may enter into a contract of insurance. The Kentucky Insurance Code shall not apply to the insurance contract, and the authority shall not be considered an insurer subject to the Kentucky Insurance…

projects. (1) Insurance, guarantees, or letters of credit provided or procured pursuant to KRS 154.20-040 and 154.20-045 shall be provided or procured only for projects within this state which are consistent with the purposes and objectives of the authority and this chapter. (2) …

financial support -- Terms and conditions determined by authority. (1) Insurance, guarantees, or letters of credit shall not be provided or procured unless the authority shall be legally assured that the loans, debentures, or leases insured, or guaranteed, or for which letters of…

The authority may enter into agreements with lenders for participation in loan insurance. The agreements may include, but need not be limited to: (1) Authorization for the lender to determine, collect, and transmit to the authority a fee or premium charge within a specified range…

The authority may establish a special fund or funds solely to secure some or all of its obligations within the loan insurance account into which fees or premiums collected by the authority for loan, debenture, or lease insurance, guarantees, or letters of credit may be deposited.

(1) Assistance for reclamation development projects shall be provided by a fund, which shall be established and managed by the authority, to be known as the reclamation development fund. (2) The authority shall pay into the fund any money appropriated or otherwise provided by the…

Moneys in the reclamation development fund: (1) Shall be used to foster reclamation development projects described in a reclamation development plan submitted to the authority as part of the application for reclamation development fund moneys, except that no money in the reclamat…

All applications made to the authority shall be subject to written approval by a local development corporation, local development agency, or in the absence thereof, approval by a local governmental body.

In any legal action brought by the authority or the insurance corporation to obtain the collection or repayment of a defaulted loan, as part of a successful judgment against the debtor or guarantor, the authority or insurance corporation shall be entitled to an award of reasonabl…

(1) No member of the authority or officer or employee thereof shall either directly or indirectly be a party to or be in any manner interested in any contract or agreement with the authority for any matter, cause, or thing whatsoever by reason whereof any liability or indebtednes…

and obligations. (1) The authority may negotiate with other agencies of the state government to obtain the use of moneys which such agencies are authorized to invest in government obligations. Funds so negotiated shall be transferred on an inter-account basis to the appropriate f…

activity report. (1) On or before October 1, 1992, and on or before the first day of every third month thereafter, the authority shall provide a written project status report to the Legislative Research Commission, and the authority shall be compelled to send a representative to …

requests for financial assistance. (1) The Kentucky Economic Development Finance Authority, or its successor, shall develop, pursuant to KRS 154.20-030 to 154.20-150, criteria which may be used by the authority in considering the requests by industrial entities for financial assi…

(1) Industrial entities, agricultural business entities, business enterprises, or private sector firms which are members of a business network within the meaning of KRS 154.1-010 and businesses that compose the secondary wood products industry as defined in KRS 154.47-005(5), sha…

Administration of fund. (1) Any business firm that is a member of an approved business network comprising individual firms, companies, agricultural business entities, or industrial entities that have been identified as key industries and that have been targeted by the state's eco…

(1) As used in this section: (a) "Authority" means the Kentucky Economic Development Finance Authority; (b) "Qualifying former hospital" means a hospital facility: 1. At a location that closed within thirty-six (36) months prior to an application for a loan; and 2. For which the …

Application -- Approval -- Notification of department. (Effective July 1, 2027) (1) As used in this section: (a) "Authority" means the Kentucky Economic Development Finance Authority established by KRS 154.20-010; (b) "Certified mixed-use rehabilitation" means the development, re…

As used in KRS 154.20-200 to 154.20-216, unless the context clearly indicates otherwise: (1) "Agreement" means any agreement made pursuant to KRS 154.20-210 between the authority and an approved company with respect to an economic development project in which inducements are gran…

approval of eligible companies and economic development projects. (1) The authority shall promulgate administrative regulations, pursuant to KRS Chapter 13A, for approving eligible companies pursuant to KRS 154.20-200 to 154.20-216. (2) Relevant standards for approval of eligible…