Kentucky Congressional Bills

in committee · Kentucky · House Jun 21, 2023

HR 4237: Ensuring Sound Guidance Act

HR 4237, the Ensuring Sound Guidance Act, requires investment advisors and retirement plan fiduciaries to prioritize financial factors (like investment returns and costs) when making decisions for clients or plan participants. It mandates that non-financial factors (such as environmental or social goals) can only be considered if the client provides written consent, and advisors must then disclose the expected and actual financial impact over a three-year period. The bill amends the Investment Advisers Act and ERISA to enforce this standard, with changes taking effect 12 months after enactment. Additional provisions direct studies on state pension plans, climate disclosures in municipal bonds, and rules preventing payments to officials for government business.

Topics ✗ Environment

in committee · Kentucky · House Jun 21, 2023

HR 3600: VA Work-Study Improvement Act

This bill improves the VA Work-Study program for veterans and active-duty military members by expanding eligible work opportunities to include roles with state/local governments and nonprofits that support veterans. It establishes a higher minimum wage standard, requiring payments to meet the highest of federal, state, or local minimum wage rates. The bill also requires electronic time tracking for participants and annual public reporting on program data, including participant demographics, wages, hours worked, and participating schools. These changes apply to work-study payments made on or after January 1, 2026.

Topics ✓ Labor & Employment ✓ Veterans

Matt Cartwright (D) · 59 co-sponsors

passed · Kentucky · House Jun 21, 2023

HR 1606: Veteran Entrepreneurship Training Act of 2023

This bill creates the "Boots to Business Program" to provide entrepreneurship training to military members, veterans (including those discharged under non-dishonorable conditions), and their spouses. It offers online courses, in-person classes, and business planning support to help these individuals start small businesses, with training covering topics like business plans, funding, and local resources. The program, running through 2028, requires collaboration with Veteran Business Outreach Centers and mandates sharing materials with the Departments of Defense, Labor, and Veterans Affairs. Annual reports will track participation, demographics, business startup rates, and program effectiveness.

Topics ✓ Labor & Employment ✓ Veterans

in committee · Kentucky · House Jun 21, 2023

HR 15: Equality Act

The Equality Act (HR 15) would amend federal civil rights laws to explicitly prohibit discrimination based on sexual orientation and gender identity in public accommodations, housing, employment, credit, and jury service. It amends the Civil Rights Act of 1964 to include sexual orientation and gender identity as protected characteristics under existing sex discrimination provisions. The bill would require businesses, housing providers, employers, and government entities to provide equal access and services without regard to a person's sexual orientation or gender identity. It includes specific definitions for gender identity and sexual orientation to clarify protections across all covered areas. The law would apply to all entities covered by the Civil Rights Act of 1964, including those receiving federal funding.

Topics ✓ Housing ✓ Labor & Employment

Mark Takano (D) · 219 co-sponsors

passed · Kentucky · House Jun 21, 2023

HR 277: Regulations from the Executive in Need of Scrutiny Act of 2023

HR 277 would require Congress to approve major federal regulations before they take effect. Major rules are defined as those with significant economic impact ($100 million+ annually), major cost increases for consumers or industries, or significant adverse effects on competition, employment, or innovation. Agencies must submit detailed information about these rules to Congress, including cost-benefit analyses, before they can take effect. Congress would have 70 session days to approve the rule with a joint resolution; if they don't act within that timeframe, the rule would not take effect. This would increase congressional oversight of federal regulations and require more detailed information about proposed rules before they become law.

Topics ✗ Environment

Kat Cammack (R) · 182 co-sponsors

in committee · Kentucky · Senate Jun 20, 2023

S 2054: Audit the Pentagon Act of 2023

S 2054, the "Audit the Pentagon Act of 2023," requires the Department of Defense (DoD) to obtain an unqualified audit opinion on its full financial statements by 2024. If a DoD component (like a military branch or agency) fails to achieve this by the end of the calendar year for any fiscal year after 2024, it faces a 1% reduction in its next fiscal year's funding. The withheld funds are distributed proportionally across all programs within that component and then deposited into the Treasury's general fund for deficit reduction. This bill directly affects all DoD financial components by linking their budget authority to audit compliance.

in committee · Kentucky · House Jun 20, 2023

HR 4204: Shielding Community Banks from Systemic Risk Assessments Act

This bill exempts community banks (defined as institutions with under $5 billion in assets) from special assessments the FDIC must charge to recoup losses from using its "systemic risk exception" following the 2023 failures of Silicon Valley Bank and Signature Bank. It amends the FDIC Act to require the FDIC to fully exempt these smaller banks, while creating a graduated system where larger banks ($50 billion+ in assets) pay a significantly larger share of the assessment. The bill directly affects rural banks, community development financial institutions, and minority depository institutions that did not contribute to the recent banking failures. It focuses solely on adjusting how the FDIC recoups costs from the systemic risk exception, not on preventing future bank failures.

Topics ✓ Budget & Taxes