Kentucky 2021 Special Session Status: Enacted 2 R cosponsors

SB 5 — AN ACT funding programs and projects for economic development projects exceeding a minimum investment of $2,000,000,000, making an appropriation therefor, and declaring an emergency.

Last action — signed by Governor (Acts Ch. 3)

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  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced September 07, 2021. Enacted.

Prognosis

Advancing 56% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 3 sponsors

    3 primary, 0 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 R).

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

57 added · 75 removed

57 line(s) added, 75 removed.

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UNOFFICIAL COPY 21 SS SB 5/GA AN ACT funding programs and projects for economic development projects exceeding a minimum investment of $2,000,000,000, making an appropriation therefor, and declaring an emergency.
CHAPTER 3 1 CHAPTER 3 ( SB 5 ) AN ACT funding programs and projects for economic development projects exceeding a minimuminvestment of $2,000,000,000, making an appropriation therefor, and declaring an emergency.
Such forgivable loans may be offered as the net present value of and as a substitute for economic incentives offered under the Kentucky Business Investment program (KRS 154.32), the Kentucky Enterprise Initiative Act (KRS 154.31), and the Economic Development Fund program (KRS 154.12-100).
Such forgivable loans may be offered as the net presentvalue of andas a substitutefor economic incentives offered underthe Kentucky Business Investment program (KRS 154.32), the Kentucky Enterprise Initiative Act (KRS 154.31), and the Economic Development Fund program (KRS 154.12-100).
The Restrictive Covenants associated with property purchased in 2002 consisting of 47 tracts of contiguous real property in Hardin County acquired to be used solely in connection with economic development projects require the General Assembly, the Kentucky Economic Development Finance Authority ("Authority"), and the Kentucky Cabinet for Economic Development ("Cabinet") to authorize the use of property for major manufacturing, processing, and assembling facilities and provide written consent if the property is conveyed to any party other than the Elizabethtown- Page 1 of 3 SB000510.100 - 26 - XXXX GA UNOFFICIAL COPY 21 SS SB 5/GA Hardin County Industrial Foundation ("Foundation").
The Restrictive Covenants associated with property purchased in 2002consisting of 47tracts of contiguous real property in Hardin County acquired to be used solely in connection with economic development projects require the General Assembly, the Kentucky Economic Development Finance Authority ("Authority"), and the Kentucky Cabinet for Economic Development ("Cabinet") to authorize the use of property for major manufacturing, processing, and assembling facilities and provide written consent if the property is conveyed to any party other than the Elizabethtown-Hardin County Industrial Foundation ("Foundation").
The Kentucky Community and Technical College System shall determine the terms and conditions of the KCTCS- TRAINS training grants and monitor the performance of the economic development projects in utilizing such grants consistent with the KCTCS-TRAINS training program.
The Kentucky Community and Technical College System shall determine the terms and conditions of the KCTCS-TRAINS training grants and monitor the performance of the economic development projects in utilizing such grants consistent with the KCTCS-TRAINS training program.
Notwithstanding KRS 164.092(1)(e), this appropriation is excluded from the formula Page 2 of 3 SB000510.100 - 26 - XXXX GA UNOFFICIAL COPY 21 SS SB 5/GA base amount.
Notwithstanding KRS 164.092(1)(e), this appropriation is excluded from the formula base amount.
Notwithstanding KRS 45.229, the General Fund apportionments outlined in Sections 1, 3, 4, 5, and 6 in this Act shall not lapse and shall carry forward.
Notwithstanding KRS 45.229, the General Fund apportionments outlined in Sections 1, 3, 4, 5, and 6 in this Act shallnot lapse and shallcarry forward.
Section 8.
Legislative Research Commission PDF Version ACTS OF THE GENERAL ASSEMBLY Section 8.
Whereas economic development and job creation are vital to the health, well-being, and economic prosperity of the citizens of the Commonwealth, an emergency is declared to exist, and this Act takes effect upon its passage and approval by the Governor or upon its otherwise becoming law.
Whereas economic development and job creation are vital to the health, well-being, and economic prosperity of the citizens of the Commonwealth, an emergency is declared to exist, and this Act takes effect upon its passage and approvalby the Governor or upon its otherwise becoming law.
Page 3 of 3 SB000510.100 - 26 - XXXX GA
Signed by Governor September 9, 2021.
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Action History

  1. signed by Governor (Acts Ch. 3)

  2. delivered to Governor

  3. enrolled, signed by Speaker of the House

  4. enrolled, signed by President of the Senate

  5. received in Senate

  6. passed 91-2

  7. 2nd and 3rd readings dispensed with

  8. placed in the Orders of the Day

  9. substituted for identical House Bill 5

  10. reported favorably, 1st reading, to Calendar

  11. to Economic Development & Workforce Investment (H)

  12. to Committee on Committees (H)

  13. received in House

  14. 3rd reading, passed 30-3

  15. posted for passage in the Regular Orders of the Day for Thursday, September 9, 2021

  16. reported favorably, to Rules

  17. returned to Appropriations & Revenue (S)

  18. 2nd reading

  19. taken from Appropriations & Revenue (S)

  20. returned to Appropriations & Revenue (S)

  21. 1st reading

  22. taken from Appropriations & Revenue (S)

  23. to Appropriations & Revenue (S)

  24. to Committee on Committees (S)

  25. introduced in Senate

Sponsors

Sponsorship breakdown

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3 sponsors · 0 co-sponsors · 135 not signed on

Sponsors (3)

Co-sponsors (0)

None.

Not signed on (135)

135 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance labor transportation
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Frequently asked questions

Who sponsors SB 5?
SB 5 is sponsored by Julie Raque Adams (Republican), D. Thayer, and Danny Carroll (Republican).
What is the current status of SB 5?
This bill has been enacted into law. Introduced September 07, 2021. Enacted.
Where can I track SB 5?
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