KY HB843

Expands the purposes of county community improvement districts to include public infrastructure (streetscapes, sidewalks, broadband, stormwater), affordable housing for households at 60-120% of area median income, street lighting and video cameras for public safety, public health programs, and economic development tools like small business promotion and workforce training

Adds new financing mechanisms by defining "green bonds" for climate/environmental projects and "social impact bonds" for specified social outcomes, and authorizes districts to request special assessments from cities or counties under KRS 91A.200 to 91A.290

Requires board membership to include a diverse balance of property owners, residents, tenants, small business owners, and affected persons, and mandates annual reporting to the county judge/executive and Department for Local Government on property values, employment, housing, and equity outcomes

Creates a Community Improvement District Grant Program administered by the Department for Local Government with a dedicated trust fund in the State Treasury funded by appropriations, gifts, grants, and federal funds

Requires projects undertaken after the effective date to either complete or cease operations after 10 years unless reauthorized by majority vote of property owners within the district, with votes conducted by mail, in-person, electronic, or other means within a 90-day window