Beshear signs bill for state bonding for research building

FRANKFORT, Ky. (AP) — Gov. Steve Beshear has signed into law a bill that reopened the state’s two-year budget to supply taxpayer money for a new medical research building at the University of Kentucky.

Beshear said Monday the investment will expand research space for UK scientists to look for advances to combat diseases. Kentucky has some of the nation’s highest rates of cancers and heart disease.

The measure authorizes $132.5 million in state bonding to pay for half the research building. UK says it would pay for the other half through research contracts and private fundraising.

The bill appropriates about $5.4 million for first-year debt payments.

Beshear was joined at the bill signing by a bipartisan group of lawmakers including House Speaker Greg Stumbo and Senate President Robert Stivers.

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The legislation is House Bill 298.