HB582
Log in to followAN ACT relating to economic relief for local communities of Kentucky.
Amend KRS 154.14-020, relating to the Government Resources Accelerating Needed Transformation Program of 2024, to include a nonprofit corporation created by a governmental agency as created under KRS 58.180 in the definition of "eligible grant recipient"; amend KRS 154.14-030 to specify that match applicants may apply for match funds for a period of two years after receiving a notice of award of a federal grant, and that the Cabinet for Economic Development shall administer any grants awarded prior to the program sunset date until all awarded funds have been fully disbursed to grant recipients; amend KRS 154.14-060 to conform.
Introduced: February 14, 2025
Last action: February 25, 2025
Plain-language summary
This bill updates the rules for an existing Kentucky economic development grant program by expanding who can receive grants to include nonprofit corporations created by government agencies. It also gives applicants more time, two years, to apply for matching funds after receiving a federal grant award, and ensures that any grants approved before the program ends will still be fully paid out. Who it may affect: local governments, government-created nonprofits, and communities seeking economic development funding.
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Legislative History
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Co-sponsors (6)
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