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HB 580KENTUCKYSession 2026RSState Billdead

Did Not Advance

Kentucky establishes first-generation homebuyer trust fund offering up to $5,000 in forgivable loans

Original title: AN ACT relating to a first-generation homebuyer trust fund program.

Last action · February 13, 2026: to Appropriations & Revenue (H)Sponsor: Chad Aull

Bill progressHistory & official text ↓

Introduced

Committee

Floor Vote

Passed

Law

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What This Bill Proposed

Kentucky creates a revolving trust fund administered by the Kentucky Housing Corporation to provide eligible s with s up to $5,000 for down payments, closing costs, mortgage insurance, or s. The program applies to buyers with household incomes at or below 120% of the county median income who occupy the property for at least three years.

Why it matters

Eligible residents purchasing their first home can receive up to $5,000 in financial assistance, provided they meet income thresholds, complete mandatory homebuyer counseling, and maintain the property as their primary residence for three years.

Background

The Kentucky Housing Corporation is a state-owned enterprise and housing finance agency that administers housing programs and affordable housing initiatives across the Commonwealth. context
The Legislative Research Commission is a nonpartisan legislative service agency that provides administrative and research support for the Kentucky General Assembly. context

Who It Would Have Affected

Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.

Directly affected

First-generation homebuyers

Eligible individuals can receive up to $5,000 in forgivable loans and financial assistance for home purchases, subject to income and occupancy requirements.

Directly affected

Kentucky Housing Corporation

The corporation is tasked with administering the trust fund, operating the forgivable loan program, and submitting annual reports to the legislature.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Who qualifies as a first-generation homebuyer under this bill?

An individual who has not had sole ownership interest in residential real property and whose parents or legal guardians have no previous ownership interest in residential real property, or someone who was in foster care, an emancipated youth, or qualified as a homeless or unaccompanied youth.

What is the maximum loan amount provided by the forgivable loan program?

The program provides up to $5,000 for down payments, closing costs, mortgage insurance, or s.

What happens if a recipient sells the home within the first three years?

The loan must be repaid if the property is sold within the first three years of ownership, converts to nonowner occupancy, or triggers other reasons included in the loan document.

What else do you want to know?

News Coverage

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Where This Stands

This bill did not become law - Died at adjournment · in House committee.

Procedural history

2 actions

Feb 13, 2026HouseCommittee
to Appropriations & Revenue (H)
Feb 6, 2026HouseIntroduced
introduced in House to Committee on Committees (H)

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

View official text →

Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Discoveries

1 pattern noticed across the record

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift95% confidence

Creation of Targeted Homeownership Fund

Establishes a dedicated state-level funding mechanism specifically restricted to first-generation homebuyers meeting strict background and income criteria.

Kentucky Housing Corporation State Treasury

Connected Entities

Kentucky Financial Empowerment Commission, Legislative Research Commission, State Treasury and 2 more

OrganizationKentucky Financial Empowerment Commission“Provides financial education and homebuyer counseling under the direction of the”Map →

OrganizationLegislative Research Commission“Receives annual reports from the Kentucky Housing Corporation”Map →

OrganizationState Treasury“Houses the revolving first-generation homebuyer trust fund account”Map →

OrganizationInterim Committee on Appropriations and Revenue“Receives annual reports regarding the trust fund disposition and program impact”Map →

OrganizationKentucky Housing Corporation“Administers the first-generation homebuyer trust fund program”Map →

Sources

Open source document

apps.legislature.ky.gov

Analysis Score

0–100

Significance20
Lowered because this bill did not pass (its text scored 65)
Controversy20
Intensity of disagreement among stakeholders
Entertainment5
Compellingness for a non-policy-wonk reader
Buzz30
Current news / social attention level

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