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UNOFFICIAL COPY 26 RS BR 995
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AN ACT relating to housing and declaring an emergency. 1
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2
SECTION 1. A NEW SECTION OF KRS CHAPTER 198A IS CREATED TO 3
READ AS FOLLOWS: 4
(1) As used in this section: 5
(a) "Affordable housing" means housing that is eligible for state or federal 6
funds to support its construction, repair, or rehabilitation as a result of its 7
affordability; 8
(b) "Affordable housing funds" means state or federal funds that directly 9
finance, in whole or in part, the: 10
1. Construction, repair, or rehabilitation of affordable housing; or 11
2. Rental of housing by eligible low-income persons; and 12
(c) "Agency": 13
1. Means any state agency, local government, quasi -governmental entity, 14
or other governmental entity in the Commonwealt h that expends 15
affordable housing funds; and 16
2. Includes the Kentucky Housing Corporation. 17
(2) Notwithstanding any law or administrative regulation to the contrary, an agency 18
that expends affordable housing funds shall expend: 19
(a) At least ninety percent ( 90%) of those funds on single -family detached 20
housing; and 21
(b) No more than ten percent (10%) of those funds on multifamily housing; 22
in any given fiscal year. 23
(3) The requirement in subsection (2) of this section: 24
(a) Supersedes any condition contained in a grant or other appropriation; and 25
(b) Does not apply to funds expended by an agency other than affordable 26
housing funds, including but not limited to funds used to defray its 27
UNOFFICIAL COPY 26 RS BR 995
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administrative costs and to provide educational or other programs. 1
Section 2. Whereas the use of state and federal funds on affordable housing is 2
having significant impacts on the character of areas that have traditionally contained 3
single-family homes, an emergency is declared to exist, and thi s Act takes effect upon its 4
passage and approval by the Governor or upon its otherwise becoming a law. 5