KY HB890

Establishes a High-Growth Loan Program and Fund in the State Treasury to provide revolving loans to small companies (50 or fewer employees) and medium-sized companies (51-500 employees) demonstrating potential for rapid expansion in employment, revenue, or market share

Caps the Commonwealth's contribution to the fund at $25 million, with the fund also accepting investor contributions, gifts, grants, and federal funds

Requires a limited partnership to be selected as fund manager, which may own no more than 1% of total fund units and must comply with all federal and state regulations

Mandates annual reporting by October 1, 2026 from the fund manager to the cabinet, and by November 1, 2026 from the cabinet to the Legislative Research Commission, detailing investor information, loan terms, company locations, and fund balances

Fund balances do not lapse at fiscal year end and all loan repayments must be returned dollar-for-dollar to the fund for future eligible loans rather than reverting to the general fund