KRS § 41.480 Definitions for section -- Prohibition from entering into contract with a company engaging in energy company boycott.

41.480 Definitions for section -- Prohibition from entering into contract with a company engaging in energy company boycott. (1) As used in this section: (a) "Company" has the same meaning as in KRS 41.472, except that it shall not include a sole proprietorship; (b) "Energy company boycott" has the same meaning as in KRS 41.472; and (c) "Governmental entity" means any state board, bureau, cabinet, commission, department, authority, officer, or other entity in the executive branch of state government. (2) This section applies only to a contract that: (a) Is between a governmental entity and a company with ten (10) or more full- time employees; and (b) Has a value of one hundred thousand dollars ($100,000) or more that is to be paid wholly or partly from public funds of the governmental entity. (3) Except as provided in subsection (4) of this section, a governmental entity shall not enter into a contract with a company for goods or services unless the contract contains a written verification from the company that it: (a) Does not engage in energy companies boycotts; and (b) Will not engage in energy company boycotts during the term of the contract. (4) The requirements of subsection (3) of this section shall not apply to a governmental entity that determines that those requirements are inconsistent with the governmental entity's constitutional, statutory, or fiduciary duties related to the issuance, incurrence, or management of debt obligations or the deposit, custody, management, borrowing, or investment of funds. Effective: July 14, 2022 History: Created 2022 Ky. Acts ch. 120, sec. 5, effective July 14, 2022.