KY HB887

Kentucky Public Pensions Authority may purchase or lease office space for administering retirement systems without following KRS Chapter 56 (state property and buildings regulations)

Amends KRS 61.505 to exempt the Authority from standard state procurement requirements specifically for office space used in retirement system administration and operations

Authority continues to be subject to KRS Chapters 45, 45A, 56, and 57 for all other obligations except this office space exception

Declared an emergency measure, taking effect immediately upon the Governor's approval or upon otherwise becoming law

Justification for emergency status cites the critical importance of efficient administration for system employees, employers, and the Commonwealth