Summary of Original Version

Amend KRS 65.188 to make a technical corection.

Summary of Amendment: Senate Committee Substitute 1

Summary Delete original provisions; create new sections of KRS Chapter 65 to define terms; establish the process for a local government to establish a residential infrastructure development district and for dissolution of a district; authorize a local government to issue bonds and other obligations to pay for infrastructure costs within a district; authorize a local government to collect special assessments on property within the district to pay for infrastructure costs and use special assessment revenue for administrative costs unless restricted; establish that the special assessment constitutes a lien, address lien priority, require delinquent property taxes to be paid prior to a special assessment, and allow for redemption of property sold as a result of delinquent payment of a special assessment; permit local governments to act jointly to establish and maintain a district.

Statutes affected:
Introduced: 65.188