KY SB355

Amends KRS 154.50-336 governing economic development authorities to update gender-neutral language, changing "He" to "He or she" when referring to the secretary-treasurer's duties

Authority members serve without compensation but receive reimbursement for actual and necessary expenses incurred in conducting authority business

Chairman and vice chairman serve one-year terms; the authority may set a salary for the secretary-treasurer, who must execute an official bond approved by the authority

Secretary-treasurer must maintain meeting minutes, financial books showing receipts and expenditures, preserve duplicate vouchers, and provide complete financial reports upon request

Financial records remain subject to examination by the creating legislative body, with detailed annual reports required on all authority acts and activities