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HB 577KENTUCKYSession 2026RSState BillSigned into law
Enacted

Kentucky Revisions to Economic Development and Angel Investor Programs

Original title: AN ACT relating to economic development.

Last action · April 13, 2026: signed by Governor (Acts Ch. 114)Sponsors: Josh Branscum and 2 others

Bill progressHistory & official text ↓
Introduced
Committee
Floor Vote
Passed
Law

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What This Bill Does

Kentucky enacted legislation revising definitions, funding caps, and administrative requirements for state economic development and innovation programs, including the Kentucky Enterprise Fund and Angel Investor Program. The law establishes new equity acquisition rules for state-backed investments exceeding $30,000 and requires allocation minimums for rural counties and , taking effect upon signature.

Why it matters

Changes how early-stage and high-growth companies in Kentucky secure state-backed venture funding, altering investment caps, equity stake requirements, and geographical allocation mandates for rural and disadvantaged areas upon the Governor's signature on April 13, 2026.

Who It Affects

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

Directly affected

Early-stage and high-growth companies

Eligible businesses face new eligibility definitions, revised funding caps, and mandatory equity or convertible debt arrangements for awards exceeding $30,000.

Directly affected

Office of Entrepreneurship and Innovation

Assumes central headquarters responsibilities for administering program hubs, managing uniform application protocols, and coordinating centralized services.

Directly affected

Angel investors

Must meet updated net worth, employment restrictions, and investment criteria to qualify for participation in the Angel Investor Program.

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

What is the primary purpose of the Kentucky Enterprise Fund under this law?
The fund is used to provide capital to early-stage and high-growth, Kentucky-based companies to undertake feasibility, concept development, research and development, commercialization, or expansion work.
What percentage of the Kentucky Enterprise Fund must be allocated to rural areas and Opportunity Zones?
At least twenty percent of the annual allotment must go to qualified companies located in rural or enhanced incentive counties, and at least twenty percent must go to qualified companies located in .
What equity requirement applies to larger investments from the fund?
For all funding totaling more than $30,000, the science and technology organization or designated entity receives an equity interest, near-equity interest (such as a ), or convertible debt instrument in the qualified company.

What else do you want to know?

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Where This Stands

Current status: Signed into law.

Procedural history

13 actions
  1. Apr 13, 2026HouseEnrolled
    signed by Governor (Acts Ch. 114)
  2. Apr 1, 2026HouseEnrolled
    enrolled, signed by Speaker of the House enrolled, signed by President of the Senate delivered to Governor
  3. Mar 31, 2026HouseFloor
    3rd reading, passed 37-0 received in House
  4. Mar 27, 2026HouseFloor
    2nd reading, to Rules posted for passage in the Regular Orders of the Day for Tuesday, March 31 2026
  5. Mar 26, 2026House
    reported favorably, 1st reading, to Calendar
  6. Mar 16, 2026SenateCommittee
    to Economic Development, Tourism, & Labor (S)
Show 7 earlier actions
  1. Feb 19, 2026SenateIntroduced
    received in Senate to Committee on Committees (S)
  2. Feb 18, 2026HouseFloor
    3rd reading, passed 98-0
  3. Feb 17, 2026House
    posted for passage in the Regular Orders of the Day for Wednesday, February 18 2026
  4. Feb 13, 2026HouseFloor
    2nd reading, to Rules
  5. Feb 12, 2026House
    reported favorably, 1st reading, to Calendar
  6. Feb 10, 2026HouseCommittee
    to Economic Development & Workforce Investment (H)
  7. 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.

Sponsors

Josh BranscumHouse · District 83RepublicanPrimary sponsor
George BrownHouse · District 77DemocraticCosponsor
Vanessa GrosslHouse · District 88RepublicanCosponsor

Discoveries

1 pattern noticed across the record

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

policy shift95% confidence

Restructuring of Innovation Networks

The legislation transitions regional support from independent Innovation and Commercialization Centers (ICCs) to a unified statewide hub program managed by the Office of Entrepreneurship and Innovation.

Office of Entrepreneurship and InnovationKentucky Enterprise Fund

Connected Entities

Kentucky Enterprise Fund, Kentucky Economic Development Finance Authority, General Assembly and 5 more
OrganizationKentucky Enterprise Fund“Trust and agency account providing capital to companies”Map →
OrganizationKentucky Economic Development Finance Authority“Approves investment fund managers and grants nonrefundable credits”Map →
OrganizationGeneral Assembly“Enacted the legislation”Map →
PersonVanessa Grossl“Cosponsor of the bill”Map →
OrganizationOffice of Entrepreneurship and Innovation“Manages program hubs and administers innovation initiatives”Map →
PersonJosh Branscum“Primary sponsor of House Bill 577”Map →
PersonGeorge Brown“Cosponsor of the bill”Map →
OrganizationCabinet for Economic Development“Manages the Kentucky enterprise fund”Map →

Sources

Open source document

apps.legislature.ky.gov

Analysis Score

0–100
  • Significance75
    How much this matters to a regular citizen
  • Controversy15
    Intensity of disagreement among stakeholders
  • Entertainment5
    Compellingness for a non-policy-wonk reader
  • Buzz25
    Current news / social attention level

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