Kentucky legislation · 2026 Regular Session
Kentucky SB321: AN ACT relating to affordable housing programs established by local governments.
Status: In committee, March 2, 2026
Create a new section of KRS Chapter 65 to define terms; permit a local government to establish a revolving loan program fund to facilitate affordable housing; establish requirements for the fund; permit a local government to use bonding authority to support a fund; establish means and terms of repayment of bonds issued for a fund; permit a local government to use a fund to make loans for development of affordable housing and for rehabilitation of homes by low-income persons; allow local government to assess fines and fees for failure to repay loans as part of a program; create a lien in association with a loan issued under a program and set out priority of the lien.
What the bill says
An act relating to affordable housing programs established by local governments.
From the introduced text:
AN ACT relating to affordable housing programs established by local governments. Be it enacted by the General Assembly of the Commonwealth of Kentucky: SECTION 1. A NEW SECTION OF KRS CHAPTER 65 IS CREATED TO READ AS FOLLOWS: (1) As used in this section: (a) "Affordable housing" means a residential dwelling unit which is reserved via a deed restriction for a low-income household; (b) "Applicant" means one (1) or more persons or entities that apply to a local government for funds from the program established under this section; (c) "Local government" means a city, county, consolidated local government, urban-county government, charter county government, or unified local government that establishes a program under this section; (d) "Low-income household" means an individual or family whose income does not exceed eighty percent (80%) of the median income for the area as set out by the United States Department of Housing and Urban Development; and (e) "Program" means a revolving loan program fund established under this section. (2) A local government may establish a revolving loan program fund by enacting an ordinance. The ordinance shall state (b) Terms of any loans that the local government will issue as part of the program; (c) Methods by which the local government will secure repayment of any loans issued under the program aside from those set out …
Sponsors
- Casey Chambers Armstrong (D, SD-019) · primary sponsor
- Gerald Neal (D, SD-033)
Latest actions
- : to Committee on Committees (S)
- : introduced in Senate
Subjects: Land Use, Loans, Credit, Interest, And Usury, Housing, Building, And Construction, Bonds, Public, Local Government, Liens
Common questions
- What is SB321?
- SB321 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to affordable housing programs established by local governments.
- What does SB321 do?
- In its own words: An act relating to affordable housing programs established by local governments.
- What is the status of SB321?
- In committee as of March 2, 2026. Latest action: to Committee on Committees (S) (March 2, 2026).
- Who sponsored SB321?
- Casey Chambers Armstrong (D, SD-019), with 1 co-sponsor.
- Where is the official record for SB321?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/sb321.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.