AN ACT relating to economic development.

HB 477 amends Kentucky's property condemnation law (KRS 154.50-323) to require governmental units to provide public notice of the specific purpose for which condemned property will be used. It mandates that property must be developed within five years for that stated purpose, or the original owner can repurchase it at the government's purchase price. The bill also grants owners the right to recover costs and attorney fees if they must reacquire property due to the government's failure to develop it as promised. This directly affects property owners and local governments involved in eminent domain proceedings. The bill was introduced in the Kentucky House on February 12, 2025, and referred to the Economic Development & Workforce Investment Committee.