Bill financing research building gets final legislative OK

FRANKFORT, Ky. (AP) — Kentucky lawmakers have given final approval to reopening the state’s two-year budget to use taxpayer money to help finance a new medical research building at the University of Kentucky.

The bill cleared the Republican-led Senate on a 36-1 vote Tuesday. The measure already passed the Democratic-run House and now goes to Gov. Steve Beshear.

The research would take aim at combating Kentucky’s high cancer, heart disease and diabetes rates. UK President Eli Capilouto says the investment will pay off for generations.

The measure authorizes a $132.5 million bond to pay for half the research building. UK would pay for the other half through research contracts and private fundraising.

The bill also appropriates about $5.4 million for debt payments in the upcoming fiscal year.

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The legislation is House Bill 298.

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