AN ACT relating to economic development.
What changed between versions
Changed the bill title from 'tourist and convention commissions' to 'economic development' and created a new Kentucky-Ireland Trade Commission instead of a generic tourism commission.
Increased commission membership from 7 to 11 members with new appointment requirements including Governor, Senate, House, public postsecondary institutions, Irish-American community, and business leaders.
Added specific commission purposes including advancing bilateral trade, initiating joint policy action, promoting business/academic exchanges, encouraging economic development support, and infrastructure investment between Kentucky and Ireland.
Added new definitions for marina-related terms including 'license agreement', 'marina facilities', 'marina operator', and 'state marina' in a separate section of the bill.
Set specific appointment deadlines with initial appointments due by July 1, 2025, and legislative appointments remaining until January 1, 2027.
Added compensation provisions for nonlegislative members at $100 per regularly scheduled meeting plus expense reimbursement.
Added authority for the Finance and Administration Cabinet to renew marina license agreements without full compliance with chapter provisions under specific criteria.