HB274: AN ACT relating to transportation improvement districts.

Legislative Summary

Create new sections of KRS Chapter 184 to establish transportation improvement districts (TIDs) organized by county governments; define terms; allow TIDs to be established by a city with a population of greater than 20,000, a single county, or up to three contiguous counties; establish board makeup and membership requirements for each type of TID; set forth TID duties and powers; set forth public meeting requirements for potential projects; require approval of the establishing body of a TID before any project can be started; allow TIDs to receive revenue from increment bonds as part of a local development area under KRS 65.7041 to 65.7083; set forth powers and procedures for TIDs to issue bonds for projects; allow the Transportation Cabinet to assist a TID in a demonstration project; amend KRS 65.7045 to include TIDs under the definition of "agency" for the purposes of establishing a local development area; amend KRS 416.670 to exempt property acquired for a TID project from the provisions of that statute.