Introduced

Passed House

Passed Senate

Became law

Adjourned sine die. The bill was pending when the session ended, so it did not pass.

Last action · February 21, 2025

To Veterans, Military Affairs, & Public Protection (H)

Introduced February 13, 2025

House

Adjourned Sine Die

2025 Regular Session

HB505

AN ACT relating to the Veteran-Owned Small Business and Entrepreneur Loan Program.

Create a new section of Subchapter 12 of KRS Chapter 154 to create the Veteran-Owned Small Business and Entrepreneur Loan Program to be administered by the Office of Entrepreneurship; establish requirements and program details; create the Veteran-Owned Small Business and Entrepreneur Loan Program fund from which the office provides loans to qualified veterans of not more than $50,000.

Economic Development Loans and Credit Military Affairs and Civil Defense Small Business Veterans Administrative Regulations and Proceedings

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This bill would create a new loan program in Kentucky specifically for veterans who own or are starting small businesses. The Office of Entrepreneurship would administer the program and could provide loans of up to $50,000 to veterans who qualify. The program would also establish its own dedicated fund to support these loans. Who it may affect: veteran small business owners and veteran entrepreneurs in Kentucky.

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