UNOFFICIAL COPY 23 RS BR 1667
Page 1 of 1
XXXX 2/20/2023 10:17 AM Jacketed
AN ACT relating to economic development. 1
Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2
ď˘Section 1. KRS 154.10-020 is amended to read as follows: 3
(1) The Governor shall be the chairman of the board and upon his or her absence the 4
secretary of the Governor's Executive Cabinet shall serve as chairman. 5
(2) The board shall elect from among the private sector members a vice chairman of the 6
board. The initial term of office for the vice chairman shall expire December 31, 7
1994, and the subsequent terms of office of the vice chairman shall be for a period 8
of two (2) years. 9
(3) Upon the absence of both the Governor and the secretary of the Governor's 10
Executive Cabinet, the vice chairman shall serve as chairman. 11
(4) The board may establish an executive committee consisting of the chairman, the 12
vice chairman, the secretary of the cabinet, and not more than three (3) additional 13
board members selected jointly by the chairman and vice chairman. The executive 14
committee shall have such authority as the board delegates to it, except that the 15
board shall not delegate to the executive committee the authority to take actions 16
requiring approval by a majority of the entire board under KRS 154.10-010(10). 17
(5) The secretary and other officers and employees of the cabinet shall not be required 18
to disclose confidential information concerning existing businesses or business 19
prospects with which the board or cabinet is dealing, including the identity of the 20
businesses, to members of the board other than the executive committee. The 21
executive committee shall provide advice and assistance to the secretary in 22
negotiations with existing and prospective businesses. In the event the cabinet 23
enters into an agreement with a business entity which requires approval by the 24
General Assembly, the agreement shall be presented by the secretary to the board, 25
which shall make a recommendation of approval or disapproval of the agreement to 26
the General Assembly. 27