AN ACT relating to the removal of derelict vessels and making an appropriation therefor.

Create a new section of KRS Chapter 235 to create a derelict vessel removal assistance fund to be administered by the Kentucky Department of Fish and Wildlife Resources; require the department to submit a report on the fund beginning September 1, 2024; prohibit persons from abandoning derelict vessels in the Commonwealth; authorize owners of private property to remove derelict vessels at owner's expense after notice; require the Department of Fish and Wildlife to remove derelict vessels and establish criteria for when the removal of an abandoned water vessel is necessary, use amounts deposited into the derelict vessel removal assistance fund to assist in the removal of water vessels from any waters of this state and allow local governments to apply for grants from the fund; accept bids and contract to provide for the removal of abandoned water vessels; and require the department to promulgate administrative regulations; amend KRS 235.010 to define terms; amend KRS 235.040 to require motorboat owners to have boat insurance with wreckage removal; amend KRS 235.050 to require insurance with wreckage removal when registering a motorboat; amend KRS 235.070 to prohibit renewal of registration is the owner does not have an insurance policy with wreckage removal; amend KRS 235.090 to require 50 percent of the fees received from KRS 235.080, 235.085, and 235.130 to the derelict vessel removal assistance fund; require transfers to be made quarterly, within 30 days of the close of each fiscal quarter; amend KRS 235.180 to give notice of destruction or abandon of a vessel to the department; amend KRS 235.250 to require proof of insurance; amend KRS 235.990 to make abandonment of a derelict vessel a Class B misdemeanor and impose a fine of $250 for each offense; amend KRS 235.999 to have all the fines collected from abandonment of derelict vessels or making false statements about possessing insurance to be credited to the derelict vessel removal assistance fund. APPROPRIATION.