HB745: AN ACT relating to economic development.

Legislative Summary

Create Subchapter 21 of KRS Chapter 154 to require the Cabinet for Economic Development to partner with the Kentucky Association for Economic Development to implement the Kentucky Product Development Initiative; define terms; require the cabinet to administer the program; authorize the cabinet to promulgate administrative regulations; create fund; establish requirements for grant applications; establish the duties of the Kentucky Association for Economic Development in the implementation of the program; establish project evaluation and scoring requirements; cite as the Kentucky Product Development Initiative Act; APPROPRIATION; EMERGENCY.