LEGISLATIVE OUTCOMES: Obstacles & Opportunities for Business in 2015 GREATER LOUISVILLE INC. IS THE “VOICE OF BUSINESS” IN THE 15-COUNTY BI-STATE REGION SOME BIG WINS IN THE 2015 SESSION WITH MUCH WORK LEFT TO BE DONE increasing our visibility in Frankfort. We outlined specific policy priorities Kent Oyler in the fall to ensure that legislators in President & CEO Frankfort would know what Greater Louisville businesses need to thrive. Our members showed up and spoke out. We compounded our lobbying By all accounts, the 2015 legislative efforts with a robust grassroots session was one of the most advocacy campaign and served as successful in GLI history. Of our a civic connector, bringing dozens eight top priorities, we helped pass of business leaders to Frankfort to significant legislation addressing engage in the debate. telecom reform, heroin abuse, and The proof is in the outcomes. stabilization of the road fund. Even Greater Louisville Inc.’s LEAD GLI Class lobbies in Frankfort (GLI) Critical legislation passed in 2015, among our long-term priorities, there some of which has been held up was progress on early childhood a quality-based rating system for efforts in 2015, we never stop looking for years. Perhaps most crucially, education and pension reform efforts. childcare providers. Beyond these forward. After all, there is no gain the legislature passed two pieces big wins, however, there were some without hard work. To this end, GLI Many have heard me say it but it of legislation for our infrastructure sobering missed opportunities for will continue to be the voice of the continues to be true: GLI is back. and workforce. Additionally, we saw the business community in 2015. Greater Louisville business community Our successes in the 2015 legislature vital reforms made to Kentucky’s Greater Louisville was hit especially in Frankfort. are attributable in no small part to telecommunications laws and the hard on three priorities: LIFT, Principal our decision to make efficient and passage of intrastate crowdfunding. Selection, and Incompatible Licenses. effective advocacy a priority. GLI Two long-term priorities also saw added two new staff to the Advocacy movement with increased pension While we celebrate our successes and Department in the last year, drastically accountability and transparency, and the fruits of our increased advocacy GREATER LOUISVILLE INC. | IN THE BUSINESS OF BUSINESS #GLIADVOCACY 1 GREATER LOUISVILLE REGION SEES PROGRESS BUT MUCH IS LEFT TO BE ACCOMPLISHED Note: All bills are presented in alphabetical order based on their subject matter. WINS FOR BUSINESS Energy efficiency is a win-win for Greater Louisville businesses and INTRASTATE CROWDFUNDING IN THE COMMONWEALTH CROWDFUNDING taxpayers. Businesses can save money WILL BRING ENTREPRENEURSHIP TO THE MASSES House Bill 76 (Rep. Riggs) permits while making their buildings more online intrastate crowdfunding, valuable. Service companies and In a massive show of support for our local the ability to raise up to $2 million over a creating opportunities in the contractors can increase revenue and entrepreneurs, the General Assembly also 12-month period, crowdfunding is a game Commonwealth that will make it create high-paying jobs by executing passed a comprehensive crowdfunding bill changer for Greater Louisville business. easier for Kentuckians to invest in ePAD projects. (House Bill 76) sponsored by Rep. Steve Entrepreneurs looking to start a business or Riggs of Louisville. This legislation will allow small businesses looking to expand will be promising business ideas and citizens of the Commonwealth to invest able to open themselves to investment from reap the benefits. This legislation “By building upon years of history in representing in local start-ups for equity and reap the Kentuckians who believe in their business and will allow the average citizen to our business community’s interests, GLI has further benefits of their risk. GLI testified in favor are invested in their local economy. of this legislation and it is sure to unleash invest up to $10,000 while helping strengthened its role in influencing public policies exciting potential among Greater Louisville’s Second, investors will be able to acquire businesses raise up to $2 million in Frankfort as an independent voice for business. best and brightest. equity in these start-ups by investing $10,000 We at Harshaw Trane were very pleased that GLI or less in capital without being accredited per 12-month period. WHAT DOES THIS MEAN TO ME? investors. This change will bring millions in actively supported legislation we were working on Access to capital is consistently ranked as the new investment from a previously untapped This is an incredible opportunity that enables local governments to establish energy top challenge for business start-ups in the resource – you. for Greater Louisville’s entrepreneurs. Greater Louisville region. The implementation project assessment districts to help finance energy All of these changes will serve to democratize After being named a top city of crowdfunding in Kentucky will reap two- efficiency projects.” - Lou Zaccone, Harshaw Trane fold benefits for businesses, investors, and access to capital, increase capital flows, and for young entrepreneurs by entrepreneurs. First, by giving entrepreneurs keep this money within Kentucky. Under30CEOs, crowdfunding now provides another tool for Louisville HEROIN ABUSE businesses to access capital and Senate Bill 192 addresses the heroin stimulate growth. epidemic in the state by funding treatment, placing tougher penalties EPAD on dealers, and creating programs House Bill 100 (Rep. Kay) permits to allow local governments to set local governments to establish up needle exchanges and other Energy Project Assessment Districts health initiatives. (ePADs), which will allow energy The Greater Louisville region was projects to be financed by voluntary heavily impacted by the scourge of assessments placed on participating heroin and Louisville Metro Council properties to advance energy and has already taken action to set up a water resource efficiency. needle exchange to contain blood borne illness in Louisville Metro. House Bill 76 sponsor, Representative Steve Riggs (LRC) GREATER LOUISVILLE INC. | IN THE BUSINESS OF BUSINESS #GLIADVOCACY 2 WINS FOR BUSINESS (CONTINUED) TELECOMMUNICATIONS WITH TELECOM REFORM, GREATER LOUISVILLE BUSINESSES MODERNIZATION CAN ENTER THE 21ST CENTURY MARKETPLACE. MINIMUM WAGE House Bill 152 (Rep. Rand) repeals House Bill 2 (Speaker Stumbo) would outdated regulations that limit have raised the minimum wage in investment in new wireless telephone The legislature took a positive step high-speed Internet services to some Kentucky from $7.25 to $10.10 over and broadband technologies in in modernizing Kentucky’s outdated multi-tenant office buildings in Kentucky. telecommunications laws by passing House three years. This would have hampered Kentucky. This has already resulted Bill 152. This long-overdue legislation AT&T has provided fiber-based, high-speed job growth in a recovering economy in increased investment and will Internet services to businesses for many is critical to Kentucky’s transition to a and led Louisville to be less competitive help to grow jobs in Greater modern economy that relies on modern years in Kentucky. However, this product is communications services. More than three designed for multi-tenant office buildings with Southern Indiana. Louisville through increased decades after the old AT&T went through and allows for quick delivery of fiber-based digital infrastructure. services to businesses in those buildings. divestiture, competition in the telecom ROAD FUND STABILIZATION industry in Kentucky is robust. Outdated The service allows for upload and download Greater Louisville’s growing speeds up to 300 megabits per second, with House Bill 299 freezes the tax on regulations have made necessary investments professional service and technology cost-prohibitive because they required plans to reach up to 1 gigabit per second. gasoline at 26 cents per gallon to sectors must compete with top cities maintenance of a now-antiquated network GLI’s Advantage Louisville plan has prevent future volatility in Kentucky’s that dates back to the old rotary dial days. nationally that have unfettered access identified 5 target areas for growth: Food road fund and prevents the road fund and Beverage, Business Services, Health to gigabit internet service in states WHAT DOES THIS MEAN TO ME? from losing revenue due to the drop in We are already seeing examples of the Innovation, Advanced Manufacturing, and where these reforms have already taken Logistics & E-Commerce. All of these require wholesale prices. The state’s indexing type of investments we can expect in this place. The legislature’s choice this year new regulatory environment. In May, AT&T a faster, more robust broadband network in mechanism for the gas tax kicks back in order to succeed and drive growth. Telecom to remove some outdated barriers announced the introduction of AT&T Business July of 2016. Fiber service which provides fiber-based, reform’s passage was a critical first step. to investment will allow Louisville Greater Louisville’s status as a businesses to compete in a time where top logistics hub for the world business is increasingly done online. relies heavily on the region’s strong infrastructure. By stabilizing the “GLI is an important voice for the business community road fund, the legislature ensures that in the halls of Frankfort –