University Bonding Projects Bill Steps Away from Becoming Law
FRANKFORT, Ky. - A bill authorizing more than $360 million in bonds for university projects is just steps away from becoming a reality.
House Bill 7 allows six of the state's eight public universities to use bonds and other means to fund projects like building renovations, construction and renovations to Commonwealth Stadium. And it passed the Senate budget committee unanimously Thursday.
The bill won't use any general fund dollars. University of Kentucky President Eli Capilouto said the universities hope to start construction on the projects immediately.
"We think that every one of these projects lead to better outcomes in terms of our student's success, we want construction to begin within the year," he said.
The state House has already passed the bill. Sen. Bob Leeper, an independent of Paducah and the budget committee chairman, said that will likely hit the Senate floor soon.
"I anticipate that leadership will move this very expeditiously, if you will," Leeper said. "I don't know what the time frame is going into the weekend, but I'm sure early next week this will see some attention on the floor."