AN ACT relating to fiscal matters and declaring an emergency.
Summary
Create a new section of Subchapter 20 of KRS Chapter 154 to establish the rural building and job creation revolving fund; specify uses of the fund to assist with compliance risk mitigation for the New Markets Tax Credits Program, or to issue low-interest loans to assist with construction of new buildings or renovations of existing buildings for lease to target wage economic development projects; require the Cabinet for Economic Development to report on the fund; create a new section of Subchapter 12 of KRS Chapter 154 to require the cabinet to work with the workforce liaison appointed by the president of the Kentucky Career and Technical College System to promote jobs created in the Commonwealth as a result of incentive programs; require the cabinet to conduct a feasibility and impact study on interstate reciprocity between state economic development programming; amend the general fund appropriation authorized in 2022 Ky. Acts ch. 199, Part I, B, 1.,(12) to not lapse and carry forward; APPROPRIATION; EMERGENCY.
Bill status
signed
all 5 stages cleared
Introduction
Mar 2026
Committee Review
Apr 2026
House Passage
Apr 2026
Senate Passage
Apr 2026
Signed into Law
Apr 2026
Introduced Mar 3, 2026
Signed Apr 27, 2026
Maddy AI version diff · 1 comparison
What changed between versions
Introduced
→
Current/Final
·
6 edits
MODERATE
The bill was significantly rewritten to shift its focus from a specific rural construction fund to a comprehensive framework for managing multiple economic development tax credits. The new version establishes a $4 million annual credit cap, defines specific credit priorities to ensure fair distribution, and updates the legal references to align with current Kentucky tax statutes.
Scope change
The bill's scope expanded from a single rural building fund to a broad system governing various economic development incentives across the state.
DEFINITION
Key terms like 'Eligible recipient' and 'Target wage' were removed and replaced with new definitions for 'Approved company' and 'Credit' to fit the new credit-based structure.
FISCAL
A new limit was added, capping total annual credits at $4 million, with a specific sub-limit of $1 million for wages paid in counties outside of heritage counties.
ELIGIBILITY
The list of eligible tax credits was updated to include numerous specific incentives (such as film, ethanol, and broadband credits) and clarified the order in which they must be applied.
REQUIREMENT
Reporting requirements were changed to require detailed data on credit awards and wages paid, while explicitly stating that this information is not confidential taxpayer data.
The requirement for the Cabinet to work with the Kentucky Community and Technical College System to promote jobs was removed from the text.
REMOVED
The provision requiring a feasibility study on interstate reciprocity for economic development programs was removed.
Floor votes · House Mar 10, 2026
How they voted
This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
45
Key actions
21
Committee
21
Apr 27, 2026
Signed into law
signed by Governor (Acts Ch. 198)
lower
Apr 15, 2026
Upper · Passed
enrolled, signed by President of the Senate
upper
Apr 15, 2026
Lower · Passed
enrolled, signed by Speaker of the House
lower
Apr 15, 2026
Lower · Passed
passed 70-22
lower
Apr 15, 2026
Lower · Passed
Free Conference Committee report adopted in House
lower
Apr 15, 2026
Committee
to Rules (H)
lower
Apr 15, 2026
Lower · Passed
passed 37-0
lower
Apr 15, 2026
Lower · Passed
posted for passage for consideration of Free Conference Committee Report
lower
Apr 15, 2026
Upper · Passed
Free Conference Committee report adopted in Senate
upper
Apr 15, 2026
Upper · Passed
Free Conference Committee report filed in House and Senate
upper
Apr 15, 2026
Upper · Passed
Free Conference Committee appointed in House and Senate
upper
Apr 15, 2026
Upper · Passed
Conference Committee report adopted in House and Senate
upper
Apr 15, 2026
Upper · Passed
Conference Committee report filed in House and Senate
upper
Apr 1, 2026
Upper · Passed
Conference Committee appointed in House and Senate
upper
Apr 1, 2026
Lower · Passed
posted for passage for receding from Senate Committee Substitute (1) and Committee Amendment (1-title)
lower
Apr 1, 2026
Committee
to Rules (S)
upper
Mar 31, 2026
Lower · Passed
posted for passage for concurrence in Senate Committee Substitute (1) and Committee Amendment (1-title)
lower
Mar 31, 2026
Committee
to Rules (H)
lower
Mar 31, 2026
Lower · Passed
3rd reading, passed 36-2 with Committee Substitute (1) and Committee Amendment (1-title)
lower
Mar 26, 2026
Lower · Passed
reported favorably, 1st reading, to Consent Calendar with Committee Substitute (1) and Committee Amendment (1-title)
lower
Mar 16, 2026
Committee
to Economic Development, Tourism, & Labor (S)
upper
Mar 11, 2026
Committee
to Committee on Committees (S)
upper
Mar 10, 2026
Lower · Passed
3rd reading, passed 93-0 with Committee Substitute (1)
lower
Mar 10, 2026
Lower · Passed
reported favorably, to Rules with Committee Substitute (1)
lower
Mar 4, 2026
Committee
to Appropriations & Revenue (H)
lower
Mar 4, 2026
Lower · Passed
returned to Committee on Committees (H)
lower
Mar 4, 2026
Lower · Passed
taken from Committee on Committees (H)
lower
Mar 3, 2026
Committee
to Committee on Committees (H)
lower
Mar 3, 2026
Introduced
introduced in House
lower
0 primary · 0 co-sponsors
Sponsors
No sponsor information available.
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