AN ACT relating to utility pole replacement for broadband network deployment, making an appropriation therefor, and declaring an emergency.

Create a new section of KRS Chapter 224A to establish the Rural Infrastructure Improvement Program; define terms; establish the rural infrastructure improvement fund; provide that money deposited to the credit of the fund shall only be used by the Kentucky Infrastructure Authority to provide reimbursements to qualified applicants for eligible utility pole replacement costs necessary for the deployment of broadband infrastructure; set maximum reimbursement amounts; require the Kentucky Infrastructure Authority to receive, review, and approve applications for eligible pole replacement reimbursement; require the Kentucky Infrastructure Authority to promulgate administrative regulations necessary for the administration of the program; require that no later than 60 days of receiving moneys into the rural infrastructure improvement fund, the Kentucky Infrastructure Authority must publish the application form for requesting reimbursement from the fund; provide for eligibility requirements and terms and conditions of receiving reimbursement from the fund; require the Kentucky Infrastructure Authority to maintain statistics on its Web site relating to applications received, amounts reimbursed, and money remaining in the fund; require the Auditor of Public Accounts to audit the fund no later than one year after it receives moneys; no later than one year after the exhaustion of the money in the fund, require the Kentucky Infrastructure Authority to file a report with the Legislative Research Commission identifying and examining the deployment of broadband infrastructure facilitated by the eligible pole reimbursements awarded; appropriate $56 million to the fund from the State Fiscal Recovery Fund of the American Rescue Plan Act; APPROPRIATION; EMERGENCY.