Amend KRS 140.080 to exempt Class B beneficiaries from inheritance taxation when receiving property from a decendent who died on or after January 1, 2026.
Maddy summaryHB 708 expands Kentucky's small business loan program by authorizing the Kentucky Economic Development Finance Authority to provide up to $100,000 in loans for eligible small businesses. It directly affects small businesses in manufacturing, agribusiness, or service/technology sectors that commit to creating at least one new full-time job. Key provisions include flexible loan terms (allowing more lenient requirements than standard commercial loans), exclusion of primarily retail businesses, and funding for business expenses like expansion or working capital. The bill aims to improve access to capital for small businesses that struggle to secure traditional financing.
Create a new section of KRS Chapter 65 to define terms; allow two or more local governments to form a regional industrial taxing district; establish requirements for an economic development project in a regional industrial taxing district; allow the district to levy a special ad valorem tax; allow local governments to impose an occupational license fee on businesses, trades, and professions performed, rendered, or conducted within a regional industrial taxing district; establish requirements for the occupational license fee and the revenues collected; require the establishment of a board as part of the interlocal agreement.
Amend KRS 164.787 to define "adjusted gross income" and limit eligibility for the Work Ready Kentucky Scholarship Program to a workforce student with an adjusted gross income of less than 250% of the median household income in Kentucky.
Amend KRS 64.185 to establish a salary schedule for coroners and increase the minimum compensation for deputy coroners; require the Department for Local Government to certify the population group within the salary schedule and the years of service for each coroner assuming office; provide for adjustments to compensation for part-time employment and the consumer price index; allow additional compensation for training courses completed; require an annual cost of living adjustment to be granted to each deputy coroner's salary; require the fiscal court to pay for operational expenses, post-mortem bags, mortuary equipment, and training courses; EFFECTIVE January 4, 2027.
Amend KRS 205.6312 to require the Cabinet for Health and Family Services to impose a cost sharing requirement on Medicaid beneficiaries for nonemergent services provided in a hospital emergency department; require the Cabinet for Health and Family Services or the Department for Medicaid Services to seek federal approval if they determine that such approval is necessary and comply with KRS 205.525.
Create a new section of KRS 186.400 to 186.640 to define "identity document" and "third-party entity"; require the Transportation Cabinet to promulgate administrative regulations to establish procedures to allow third-party entities to apply to the Transportation Cabinet to be approved to accept applications for certain identity documents; set forth minimum standards for third-party issuance; and allow third-party entities to charge a fee for services provided.
Amend KRS 164.092 to remove the definition of "equilibrium" and all references to equilibrium; require that university resources shall be allocated without weighting; require the postsecondary working group to meet every odd year; make technical amendments.
Amend KRS 61.315 to make a technical correction and include additional cancers which, when they are the cause of death of a firefighter, would make the firefighter eligible for death benefits.
