Page 1 of 1 LRC 2024-BR1518-HB221
COMMONWEALTH OF KENTUCKY FISCAL NOTE STATEMENT
LEGISLATIVE RESEARCH COMMISSION
2024 REGULAR SESSION
MEASURE
2024 BR NUMBER 1518 HOUSE BILL NUMBER 221
TITLE AN ACT relating to higher education finance and declaring an emergency.
SPONSOR Representative Bobby McCool
FISCAL SUMMARY
STATE FISCAL IMPACT: YES NO UNCERTAIN
OTHER FISCAL STATEMENT (S) THAT MAY APPLY: ACTUARIAL ANALYSIS
LOCAL MANDATE CORRECTIONS IMPACT HEALTH BENEFIT MANDATE
APPROPRIATION UNIT(S) IMPACTED:
FUND(S) IMPACTED: GENERAL ROAD FEDERAL RESTRICTED
FISCAL
ESTIMATES
2023-2024 2024-2025 2025-2026 ANNUAL IMPACT AT
FULL
IMPLEMENTATION
REVENUES
EXPENDITURES
NET EFFECT
( ) indicates a decrease/negative
PURPOSE OF MEASURE: House Bill 221 amends KRS 164.746, the statute relating to the
Kentucky Higher Education Assistance Authority (KHEAA) board, to modify the structure of
the KHEAA board.
The bill amends KRS 164A.050, the statute relating to the board of the Kentucky Higher
Education Student Loan Corporation (KHESLC), to conform with the amendments made in KRS
164.746 and also designates the secretary of Finance as a voting member of the KHESLC board.
The bill also amends language to allow the president of the Council on Postsecondary Education,
the president of the Association of Independent Kentucky Colleges and Universities, the State
Treasurer, and the commissioner on education to serve as ex officio nonvoting advisors to the
board.
The bill amends KRS 164A.055 to remove language that attached the Asset Resolution
Corporation to the KHESLC for administrative purposes and required the use of facilities. It also
removes the delegation of supervision of the Asset Resolution Corporation to the KHESLC.
FISCAL EXPLANATION : HB 221 has no fiscal impact.
DATA SOURCE(S): LRC Staff
PREPARER: Ethan Williams NOTE NUMBER: 153 REVIEW: JB DATE: 3/8/2024