AN ACT relating to housing development districts.

Summary

The bill lets Kentucky cities, counties and other local governments set up defined housing development districts up to 1,000 acres. Within those districts, developers can apply for a housing incentive payment that is a negotiated share of the property tax the project generates, paid annually for up to seven years for new construction or fifteen years for revitalization. The goal is to encourage the building of at least 15 housing units per project and to speed development by allowing streamlined permitting.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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