HB 406 (BR 1241) - M. Cherry, M. Henley
AN ACT relating to joint municipal power authorities.
Create KRS Chapter 96B to authorize creation of a joint municipal power authority by two or more municipalities; define municipality to include any county, city, urban-county, merged, or charter government of any and every class in the Commonwealth; provide basic terms of an agency agreement establishing a municipal power authority; provide for bylaws; provide for appointment and duties of directors of a municipal power authority; authorize any two or more municipal power authorities to consolidate to form a new municipal power authority upon authorization of member municipalities; authorize a municipal power authority to plan, finance, acquire, construct, and operate facilities to provide to members and others electric power and energy, electric transmission capacity and services, and related goods and services; require that all municipal power authority property shall be considered public property to be held and used only for the benefit of the public and as such shall be tax exempt; authorize the issuance of bonds by a municipal power authority; authorize a municipal power authority to collect on its services and set rates that cover operating costs and indebtedness; authorize financial institutions licensed under the laws of the Commonwealth to invest in the projects of the municipal power authority.
Feb 10-introduced in House
Feb 11-to Tourism Development and Energy (H)
Feb 15-posted in committee