KY HB577

Renames the Kentucky Innovation and Commercialization Center Program to the Kentucky Entrepreneurship and Innovation Hub Program, administered by the Office of Entrepreneurship and Innovation within the Cabinet for Economic Development

Redefines eligible companies for the Kentucky enterprise fund from "small and medium-size" to "early-stage or high-growth" companies, with small companies defined as 50 or fewer employees and medium-size as 51-150 employees

Expands Kentucky enterprise fund purposes to include attracting and recruiting companies to locate or establish substantial presence in Kentucky, with funding tiers of up to $50,000 for feasibility studies, $250,000 for concept development, and $500,000 maximum total per company

Requires at least 20% of annual Kentucky enterprise fund allocations to companies in rural or enhanced incentive counties, and another 20% to companies in designated Opportunity Zones

Modifies the Angel Investor Program to allow qualified investments through pass-through entities (single-member LLCs) formed solely to invest in a single qualified small business, with tax credits limited to the individual's pro rata share of capital contributed