HB605: AN ACT relating to economic relief for local communities of the Commonwealth and declaring an emergency.

Legislative Summary

Amend KRS 154.14-020, relating to the GRANT Program, to redefine "eligible grant applicant," "eligible project," "eligible use," "GRANT program," "GRANT program fund," "regional project," and define "qualifying federal entity"; amend KRS 154.14-030 to make technical changes; amend KRS 154.14-040 to modify the dates of the Cabinet for Economic Development's review of grant applications and provide that obligation of funds shall be no more than 12 months with a possible six month extension; amend KRS 154.14-050 to make technical changes and allow community support evidence to come from the grant applicant or a majority of applicants for a regional project; amend KRS 154.14-060 to make technical changes and authorize the cabinet to transfer up to 10 percent of the funds remaining in the two categories of funds with notice to the Interim Joint Committee on Appropriations and Revenue or applicable standing; amend KRS 154.14-070 to make technical changes; repeal KRS 154.14-010 and 154.14-080; EMERGENCY.