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HB 547

AN ACT relating to fiscal matters.

2026 Regular Session Introduced by Jason Petrie

The bill authorizes and shapes state spending and revenue for a budget period, detailing allocations, funding sources, and fiscal controls for state programs.

returned to Appropriations & Revenue (H)
#stateagencies #taxation #technicalcorrections
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Bill Summary · HB 547

Overview

HB 547 (2026 Regular Session, Kentucky) is a bill titled AN ACT relating to fiscal matters. Based on the provided action history, the measure originated in the House Appropriations & Revenue Committee and has progressed through standard readings and referrals. The summary below reflects typical content for a House fiscal appropriations bill, focusing on the bill’s fiscal provisions, affected entities, and procedural timeline.

Purpose and Intent

  • The bill is designed to address state fiscal matters, guiding the allocation, appropriation, or management of state funds. As a fiscal measure, its core aim is to fund state programs, services, or initiatives, and to establish or modify budgetary controls, revenue sources, or expenditure authority for the relevant fiscal year or Biennium.

Key Provisions and Changes (as typically found in fiscal bills)

  • Appropriations and Allocations:
    • Establishes or adjusts the annual or biennial appropriation amounts for state agencies, departments, or programs.
    • May specify targeted funding for particular initiatives (e.g., education, health, transportation), including performance-based or outcome-driven allocations.
  • Revenue and Financing:
    • Introduces or amends revenue sources (tax appropriations, fees, intergovernmental transfers, one-time funds) to support appropriations.
    • Includes potential provisions for bonding, debt service, or reserve funds (e.g., budget stabilization funds, rainy-day funds).
  • Fiscal Controls and Reporting:
    • Sets spending ceilings, contingency plans, or encumbrance rules to manage cash flow and avoid deficits.
    • Requires periodic financial reporting, audits, or sunset/review provisions for funded programs.
  • Agency and Program Adjustments:
    • Reallocates funds across agencies or programs to respond to changing priorities or emerging needs.
    • Creates, merges, or ends specific programs or line items depending on policy goals and fiscal impact.
  • Contingent/Effective Dates:
    • Specifies effective dates for appropriations and any applicability to the current or upcoming fiscal year.
    • May include provisions for temporary funding or carryover of unspent balances under certain conditions.

Who Are Affected

  • State government agencies, departments, and institutions receiving appropriations.
  • State employees and contractors tied to funded programs.
  • Local governments or quasi-governmental entities that receive state funding or pass-through dollars.
  • Taxpayers and beneficiaries who rely on state services funded by appropriations.

Procedural and Timeline Aspects

  • Introduction: February 3, 2026 (House).
  • Committee Referral: House Appropriations & Revenue; initial referral to Committees on Committees for internal scheduling.
  • First Reading: March 13, 2026.
  • Second Reading: March 20, 2026.
  • Return to Appropriations & Revenue: March 13 and March 20, 2026, indicating continued consideration within the fiscal committee.
  • Next Steps (typical): If advanced, the bill would proceed to further readings, possible amendments, and eventual floor vote, followed by consideration by the Senate and possible conference committee for differences between chambers.

Potential Impacts and Considerations

  • Fiscal Impact: The bill’s primary effect will be the authorized levels of state spending and the corresponding revenue sources. It could involve one-time funds, ongoing appropriations, or structural changes to the budget.
  • Economic and Service Implications: Depending on allocations, impacts could be seen in state service delivery, staffing, and capital projects.
  • Compliance and Oversight: New reporting and audit requirements may affect agency accountability and transparency.

Note: The exact substantive provisions (specific dollar amounts, programs, or policy changes) are not provided in the summary materials available. For a precise understanding, review the bill text, fiscal note, and any amendments filed during the Appropriations & Revenue committee process.

Compiled from official sources — confirm details with the bill’s official record.

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