KY HB869

Establishes the Rural Building and Job Creation Revolving Fund to provide low-interest loans and compliance assistance for new markets tax credits to nonprofit corporations, city/county governments, and industrial development authorities in rural counties with population ranking scores of 97 or higher.

Eligible projects must pay "target wages" of at least 300% of the federal minimum wage to rural county residents and involve construction or renovation of buildings for lease to economic development projects.

Requires the Cabinet for Economic Development to submit semi-annual reports (November 1 and May 1) to the Governor and Legislative Research Commission detailing loan applications, awards, fund balances, and funding recommendations.

Directs the cabinet to collaborate with Kentucky Community and Technical College System's workforce liaison to promote jobs from economic development incentives and connect students with workforce training opportunities.

Encourages a feasibility study on interstate reciprocity for economic development programs with adjacent states, due December 1, 2028, and declares an emergency due to high unemployment in rural Kentucky areas for immediate effect upon passage.