AN ACT relating to fiscal statements.

Create a new section of KRS Chapter 6 to define "Fiscal note"; require fiscal notes to be filed with the clerk in the chamber of the General Assembly for each bill or resolution that is filed; establish requirements related to fiscal notes for the director of the Legislative Research Commission; require fiscal notes to contain specific information; amend KRS 6.950, 6.955, 6.960, 6.965, and 6.970 to rename fiscal note to local government mandate statement; amend KRS 13A.190, 13A.230, 13A.250, and 13A.280 to rename fiscal note to fiscal note on state and local government.

Introduced: January 9, 2025

Last action: February 4, 2025

To Appropriations & Revenue (H)

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This bill changes how the Kentucky General Assembly tracks the cost of proposed laws. It requires that every bill or resolution filed in the legislature come with a fiscal note explaining its financial impact, and it updates existing terminology in state law to make these cost-related documents more clearly labeled. Who it may affect: Kentucky taxpayers and local governments that may bear costs from new legislation.

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