Kentucky legislation · 2026 Regular Session
Kentucky HB577: AN ACT relating to economic development.
Status: Signed into law, April 13, 2026
Amend KRS 154.12-300, 154.12-305, and 154.12-300 to change the Kentucky Innovation and Commercialization Center program to the Kentucky Entrepreneurship and Innovation Hub Program; amend KRS 154.12-300 to define terms; amend KRS 154.12-305 to add goals of supporting entrepreneur-led economic development and attracting workforce talent, investors, and start-up companies to the program; amend KRS 154.12-310 to make conforming changes; amend KRS 164.6011 to include definitions of "early-stage company" and "high-growth company" in the Kentucky Innovation Act; amend KRS 164.6019 to provide that moneys received in the Kentucky enterprise fund may be subject to restrictions imposed by the contributing entity and subject to approval by the Cabinet for Economic Development; amend KRS 164.6021 to make conforming changes and add the purpose of the Kentucky enterprise fund is to attract, recruit, and support early-stage and high-growth companies to locate, relocate, or establish a presence in the Commonwealth; amend KRS 164.6023 to allow companies based outside of Kentucky to be eligible by becoming a Kentucky-based company within 180 days after certification authorizing funding; amend KRS 154.20-234 to allow a pass-through entity to qualify for participation in the Angel Investor Program; make conforming changes.
What the bill says
An act relating to economic development.
From the introduced text:
AN ACT relating to economic development. Be it enacted by the General Assembly of the Commonwealth of Kentucky: Section 1. KRS 154.12-300 is amended to read as follows: As used in KRS 154.12-300 to 154.12-310, unless the context indicates otherwise: (1) "Early-stage company" means a company that (b) Characterized by new or evolving product or service development; and (c) Establishing initial customer or market validation with potential material growth in employment or revenue; (2) "Entrepreneur-led economic development" means a strategy in which successful entrepreneurs contribute to regional growth by mentoring new founders, strengthening local support networks, and helping guide collaborative efforts that foster the development and scaling of innovative early-stage and high-growth companies; (3) "Executive director" means the executive director of the Office of Entrepreneurship and Innovation; (4) "High-growth company" means a company that and (b) Demonstrating or has demonstrated potential for rapid and sustained expansion in employment, revenue, or market share with potential for continued material growth; (5) "Hub" means a location identified as the headquarters for program activity in a region or subregion; (6) "Medium-size company" means a business with fifty-one (51) to one hundred fifty (150) employees; (7) "Program" means the Kentucky Entrepreneurship and Innovation Hub Program["Affiliate" means an ICC identified as the headquarters for program HB057710.100 - 1044 - XXXX 2/18/2026 2:46 PM GA UNOFFICIAL COPY …
Sponsors
- Josh Branscum (R, HD-083) · primary sponsor
- George Brown (D, HD-077)
- Vanessa Grossl (R, HD-088)
Latest actions
- : signed by Governor (Acts Ch. 114)
- : delivered to Governor
- : enrolled, signed by President of the Senate
- : enrolled, signed by Speaker of the House
- : received in House
- : 3rd reading, passed 37-0
- : posted for passage in the Regular Orders of the Day for Tuesday, March 31 2026
- : 2nd reading, to Rules
- : reported favorably, 1st reading, to Calendar
- : to Economic Development, Tourism, & Labor (S)
Votes
- Senate: PASS HB 577 RSN# 4094 (March 31, 2026): 37 yea, 0 nay, passed
- House: Pass RCS# 111 (February 18, 2026): 98 yea, 0 nay, passed
Subjects: State Agencies, Technology, Funds, Information Technology, Small Business, Economic Development, Science And Technology
Common questions
- What is HB577?
- HB577 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to economic development.
- What does HB577 do?
- In its own words: An act relating to economic development.
- What is the status of HB577?
- Signed into law as of April 13, 2026. Latest action: signed by Governor (Acts Ch. 114) (April 13, 2026).
- Who sponsored HB577?
- Josh Branscum (R, HD-083), with 2 co-sponsors.
- Where is the official record for HB577?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/hb577.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.