{"data":{"id":"us-ky/krs-175b.020","jurisdiction":"us-ky","citation":"KRS 175B.020","heading":"Purpose  of state authority -- Participation as a developing or","body":"issuing authority -- Oversight function -- Legislative ratification required\nfor certain actions -- Administrative regulation regarding fee.\n(1) The  state authority's primary purpose shall be to facilitate the construction,\nfinancing, operation, and  oversight of projects by entering into bi-state\nagreements  and  by creating bi-state authorities, project authorities, and\npublic-private partnerships. To accomplish these purposes, the state authority\nshall have the power and duty to:\n(a) Take  the following actions relating to a bi-state authority authorized\npursuant to KRS 175B.030:\n1. To enter into a bi-state agreement;\n2. To  review and approve project financing plans and development\nagreements; and\n3. To monitor agreements entered into by bi-state authorities;\n(b) Take  the following actions relating to a project authority authorized\npursuant to KRS 175B.035:\n1. To request establishment of a project authority;\n2. To  review and approve project financing plans and development\nagreements;\n3. To monitor activities of project authorities; and\n4. To enter into an agreement with the project authority; and\n(c) Take  the following actions relating to a  public-private partnership\nauthorized pursuant to KRS 175B.037:\n1. To request establishment of a public-private partnership;\n2. To review and approve project financing plans;\n3. To monitor activities of public-private partnerships; and\n4. To  enter into an agreement as a part of or with a public-private\npartnership, if necessary.\n(2) The  state authority, when  authorized pursuant to subsection (10) of this\nsection, may participate as a developing or issuing authority, or both, in the\ndevelopment, construction, or financing of a project by a bi-state or project\nauthority, or by a public-private partnership, if necessary. If the state authority\nparticipates as a developing or issuing authority, the state authority shall have\nthe powers and duties established in KRS  175B.025 as they apply to that\nproject.\n(3) The state authority, as a function of its oversight of any other authority created\npursuant to this chapter, shall report before the first issuance of bonds and no\nless than semiannually thereafter to the Capital Projects and Bond Oversight\nCommittee and to the Interim Joint Committee on Appropriations and Revenue\nof the Legislative Research Commission, on any projects currently proposed or\nunder development by each authority. Current and proposed levels of bonding\nfor each project shall be reviewed by the Capital Projects and Bond Oversight\nCommittee in accordance with KRS 45.794 before the bonds shall be issued.\n(4) The state authority, when proposing a project pursuant to this chapter, shall to\nthe extent practical consult with the officials representing the units of local\ngovernment in which the proposed project is to be located in order to obtain the\nadvice and input on the local impact of the proposed project, including\ninformation regarding land use planning, transportation planning, economic\ndevelopment, and any other factors having a direct impact to the local\ncommunity.\n(5) The  state authority may  receive an unsolicited proposal if the proposal\ncontains:\n(a) An  executive summary  of no more than three (3) pages that details the\nrevenue source for the proposed project, the amount of revenue expected\nto be generated by the project, and the project costs;\n(b) A  certification from a financial expert stating that the contents of the\nunsolicited proposal are true and correct; and\n(c) A fee for the review of the executive summary.\n(6) The  state authority shall respond to a person offering an unsolicited proposal\nnotifying the person that the proposal has been rejected or approved for further\nreview.\n(7) If the state authority approves an unsolicited proposal for further review, the\nstate authority shall independently verify that it is in the best interest of the\nCommonwealth.\n(8) If the state authority approves a proposal for further review, the person making\nthe unsolicited proposal shall pay all costs of evaluating the unsolicited\nproposal incurred by the state authority and the cabinet pursuant to an\nagreement negotiated between the state authority and the person making the\nunsolicited proposal.\n(9) If the state authority and the cabinet agree that an unsolicited proposal is in the\nbest interest of the Commonwealth,  the state authority, with the assistance of\nthe cabinet, shall begin a competitive procurement process to implement some\nor all of the concepts contained in the unsolicited proposal.\n(10)(a) Notwithstanding any other provision of this chapter, the following actions\nshall not take effect until ratified by the General Assembly:\n1. The creation of a bi-state authority;\n2. The creation of a project authority;\n3. The creation of a public-private partnership;\n4. The modification or amendment  of the scope of any project; and\n5. The  development of any project undertaken entirely by the state\nauthority.\n(b) If any action described in paragraph (a) of this subsection is not ratified\nby the General Assembly, the creation, approval, or modification shall be\nconsidered void.\n(11) The state authority shall promulgate an administrative regulation in accordance\nwith KRS  Chapter 13A to determine the fee required by subsection (5)(c) of\nthis section for the review of the executive summary.","path":["KRS Chapter 175B"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=45601","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:26Z","sha256":"403d04b539ba52024c88f2bf0d835ae9929d2b08c4df3db974b048c600e575b8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-175b.015","next":"us-ky/krs-175b.025"},"notice":"GroundRules: Original legal text. Not legal advice."}