House Passes Bill Allowing for University Capital Projects
FRANKFORT — A proposal to allow six of Kentucky's public universities to start more than $360 million in infrastructure projects overwhelming passed the House today, 97-1. House Bill 7 allows the universities to issue their own agency bonds to build new dorms, academic buildings and other improvements, including a stadium renovation at the University of Kentucky. House budget chairman Rick Rand, a Democrat from Bedford, is the sponsor of the bill and told his colleagues that no state money would be used for the projects.
"This bill does not take any General Fund dollars, zero General Fund dollars," Rand said. "It will be all agency funds and restricted funds from the universities."
The bill now heads to the Senate for consideration. If passed by both chambers and signed by the governor, the universities would immediately be able to start the projects.