Direct the Legislative Research Commission to establish the Property Tax Relief Task Force to study and review the taxation of property and make policy recommendations to address affordability issues; require the task force to seek input from other groups in the development of policy recommendations and strategies; outline task force membership; require the task force to meet monthly during the 2026 Interim; require the task force to submit its findings and recommendations to the Legislative Research Commission by December 1, 2026.
Create a new section of KRS Chapter 65 to define terms; permit a local government to establish a revolving loan program fund to facilitate affordable housing; establish requirements for the fund; permit a local government to use bonding authority to support a fund; establish means and terms of repayment of bonds issued for a fund; permit a local government to use a fund to make loans for development of affordable housing and for rehabilitation of homes by low-income persons; allow local government to assess fines and fees for failure to repay loans as part of a program; create a lien in association with a loan issued under a program and set out priority of the lien.
Amend KRS 107.310, relating to community improvement districts, to define "green infrastructure", "green bond", and "social impact bond"; amend KRS 107.330 to increase the scope of community improvement districts to include public infrastructure, housing, public safety and health, and economic development tools; amend KRS 107.340 to require county judges/executive to ensure community improvement district board membership does not represent one particular interest; amend KRS 107.350 to allow community improvement districts to use green bonds and social impact bonds; amend KRS 107.380 to increase reporting requirements of community improvement districts; amend KRS 65.7043, 65.7045, and 65.7049 to allow community improvement districts to access moneys from tax increment financing levied by local governments; create new sections of KRS 107.310 to 107.500 to allow community improvement districts to request cities and counties to use special assessments imposed under KRS 91A.200 to 91A.290; allow community improvement districts to receive moneys from private partners; establish the Community Improvement District Grant Program to provide state grants for community improvement district projects and require the Department for Local Government to administer the program; create the Community Improvement District Grant Program fund to be administered by the Department for Local Government; require projects undertaken by community improvement districts to be reapproved by property owners within the boundaries of the district on a 10 year basis.
Create a new section of Subchapter 20 of KRS Chapter 154 to establish the rural building and job creation revolving fund; specify uses of the fund to assist with compliance risk mitigation for the New Markets Tax Credits Program, or to issue low-interest loans to assist with construction of new buildings or renovations of existing buildings for lease to target wage economic development projects; require the Cabinet for Economic Development to report on the fund; create a new section of Subchapter 12 of KRS Chapter 154 to require the cabinet to work with the workforce liaison appointed by the president of the Kentucky Career and Technical College System to promote jobs created in the Commonwealth as a result of incentive programs; require the cabinet to conduct a feasibility and impact study on interstate reciprocity between state economic development programming; amend the general fund appropriation authorized in 2022 Ky. Acts ch. 199, Part I, B, 1.,(12) to not lapse and carry forward; APPROPRIATION; EMERGENCY.
Create a new section of KRS Chapter 65 to define terms; permit a local government to establish a housing development district and a Housing Incentive Payment Program; allow a local government to exempt housing developments within a district from planning and zoning following a public hearing; permit other local taxing authorities to participate in a district; allow a local government to accept applications from developers to undertake projects within a district; allow a local government to negotiate with a developer whose application it has accepted regarding rates associated with incentive payments to the developer; establish a means by which a developer shall be paid incentive payments by a local government; require area development districts to provide assistance to a local government in establishing a district; require the Cabinet for Economic Development to promote awareness of the district and incentive program and the Certified Child Care Community Designation program set out in KRS 199.891; require the cabinet to post information including a list of local governments that have established a district and have obtained the certified child care community designation to its website; require local governments that have established a district to provide information to the Department for Local Government regarding the district and utilization of the incentive program; require the Department for Local Government to submit a report to LRC summarizing information received from local governments regarding districts; provide that the Act shall not be construed to prohibit a local government from establishing any other program for housing development.
Create new sections of KRS Chapter 65 to define terms; establish the process for a local government to establish a residential infrastructure development district and for dissolution of a district; authorize a local government to issue bonds and other obligations to pay for infrastructure costs within a residential infrastructure development district; authorize a local government to collect special assessments on property within the residential infrastructure development district to pay for infrastructure costs and use special assessment revenue for administrative costs unless restricted; establish that the special assessment constitutes a lien, address lien priority, require delinquent property taxes to be paid prior to a special assessment, and allow for redemption of property sold as a result of delinquent payment of a special assessment; permit local governments to act jointly to establish and maintain a residential infrastructure development district; define terms and allow a local government to establish a housing development district and a Housing Incentive Payment Program; allow a local government to exempt housing developments within a housing development district from planning and zoning following a public hearing; permit other local taxing authorities to participate in a housing development district; allow a local government to accept applications from developers to undertake projects within a housing development district; allow a local government to negotiate with a developer whose application it has accepted regarding rates associated with incentive payments to the developer; establish a means by which a developer shall be paid incentive payments by a local government; require area development districts to provide assistance to a local government in establishing a housing development district; require the Cabinet for Economic Development to promote awareness of the housing development district and incentive program and the Certified Child Care Community Designation program set out in KRS 199.891; require the cabinet to post information including a list of local governments that have established housing development districts and have obtained the certified child care community designation to its website; require local governments that have established housing development districts to provide information to the Department for Local Government regarding the district and utilization of the incentive program; require the Department for Local Government to submit a report to LRC summarizing information received from local governments regarding housing development districts; provide that the Act shall not be construed to prohibit a local government from establishing any other incentive program for housing development.
Create a new section of KRS Chapter 198A to create the affordable housing loan pool fund to be administered by the Kentucky Housing Corporation to provide rehabilitation and construction loans to eligible entities; specify terms and process; amend KRS 198A.080 to modify criteria for housing development loan fund, require notice of eligible funds, and allow expenditure of funds for technical and administrative costs; create a new section of KRS Chapter 198A to establish parameters by which the Kentucky Housing Corporation shall review and approve the affordable housing credit; create a new section of KRS Chapter 141 to establish the affordable housing credit; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Department of Revenue to report on the credits; appropriate $102,000,000 from the Budget Reserve Trust Fund account for various affordable housing initiatives; APPROPRIATION; EMERGENCY.
Create a new section of KRS Chapter 100 to define "duplex"; allow duplexes as a permitted use in all residential zones; prohibit a planning unit from adopting or enforcing regulations that would exclude duplexes in residential zones or impose requirements or fees on duplexes different than those for single-family homes.
Propose to amend Section 172B of the Constitution of Kentucky to expand the freeze on an assessment or reassessment moratorium to include the development of property and to remove the 5-year expiration date for the moratorium; provide ballot language; submit to voters for ratification or rejection.
Create a new section of KRS Chapter 100 to define terms; allow multi-unit dwellings and mixed-use developments as permitted uses in commercial zones; prohibit a planning unit from adopting or enforcing regulations that do not allow multi-unit dwellings and mixed-use developments in commercial zones, impose requirements on multi-unit dwellings or mixed-use developments more restrictive than other uses in a zone, or require certain parking restrictions on multi-unit dwellings or mixed-use developments.
