Representative Tommy Thompson has stood up strong for jobs and small business during these tough economic times. He has the ability to work together in a bi-partisan way to build support for legislation to boost economic development, education advancement, tourism and growth in our region. Winning praise from both Democrats and Republicans alike, Thompson is able to get things done and keeps working to strengthen our economy.
Key Legislation
House Bill 552 – Foreclosure Protection Bill
Legislation aimed at improving the state’s mortgage fraud and lending laws to address Kentucky’s rising number of foreclosures has passed the House.
House Bill 552, sponsored by Rep. Tommy Thompson, D-Owensboro, includes several enforcement and consumer protection provisions, including a reduction in possible prepayment penalties, a prohibition on interest-only high cost loans, stronger penalties for mortgage fraud and authorization for the state Office of Financial Institutions to recover fines and fees on surety bonds filed by licensees.
Additionally, the bill would allow for the creation of a Kentucky Homeownership Protection Center through the Kentucky Housing Corporation to advise and help those in danger of losing their home.
House Bill 553 – ICARE Program
A House committee has voted to expand a two-year state health insurance subsidy program that has helped over 280 Kentucky small businesses provide coverage for their employees.
Currently, the state ICARE–or Insurance Coverage, Affordability and Relief to Small Employers–program is a two-year pilot program offered to businesses that employ two to 25 people. House Bill 533, sponsored by House Banking and Insurance Chairman Rep. Tommy Thompson, D-Owensboro, would make the program permanent and expand eligibility for ICARE subsidies to businesses with two to 50 employees, add an enriched plan for employees with high-cost health conditions and provide flat monthly subsidies to ICARE employers.
“ICARE subsidies of $40 per employee for businesses that have not offered health coverage to their employees within the past 12 months or $60 per employee for businesses that must cover high-cost conditions now decline over time,” Thompson said, “although he added that funding for an expanded ICARE under HB 533 would be limited to available state funding.”
House Bill 471 – Gasoline Price Gouging Settlement
A price gouging law sponsored by Rep. Tommy Thompson has resulted in a settlement totaling more than $100,000 with eight gasoline stations accused of excessively raising gas prices in the wake of Hurricane Ike.
The legislation, enforced by the Attorney General’s office, specifically prohibits businesses from charging excessive prices for goods or services during a declared state of emergency.
“This is the first time we’ve had legislation with teeth to help victims of price gouging, not just in the area of gas pricing but in building materials and other markets as well,” said Thompson. “This sends a strong message that if you abuse the system and prey on the citizens of Kentucky, you will pay.”
House Bill 168 – Active Duty Military Driver’s License Bill
House bill deals with with driver’s licenses for active-duty military service members.
House Bill 168, sponsored by Rep. Tommy Thompson, was approved unanimously by the Senate. The bill would allow those serving outside the state up to 90 days to renew their driver’s licenses after returning to Kentucky. They could not be cited for driving without a license during that period.
House Bill 394 – Expands New Home Tax Credits
Two tax credit measures—including a bill that would free up an estimated $10 million for the next two-year state budget under a House revenue plan—have passed the House.
House Bill 394, sponsored by Rep. Tommy Thompson, would provide an estimated $10 million for the state’s next biennial budget by lowering the cap for the state’s new home tax credit program from $25 million to $15 million. It would also allow certain existing homeowners who qualify for the federal first-time home buyer credit to also receive the state new home tax credit.
Senate Bill 125 – Golden Alert
Rep. Tommy Thompson helped passed Kentucky’s Golden Alert legislation, Senate Bill 125, which helps to protect endangered adults in a similar way that the Amber Alert system works for children.
The new Golden Alert system was successfully tested in April when an older individual went missing in Oldham County Kentucky. The word went out immediately to law enforcement and the media seeking help to find the individual who has later located.
2009 Special Session – House Bill 3 – Economic Incentives
In the 2009 Special Session of the Kentucky General Assembly, House Bill 3, known as Incentives for the New Kentucky was sponsored by Rep. Tommy Thompson, passed and was signed into law by Gov. Beshear on June 26, 2009. The goal was to modernize our economic development programs, to make them more flexible and enable us to reach out to more businesses in the ways that they need.
We especially sought to improve our ability to assist companies that need to make significant capital investments in Kentucky facilities in order to remain competitive.
And it’s working.
In the last year, 179 companies have received preliminary approval through one or more of the new or expanded incentive programs.
These 179 economic development projects represent a potential investment of more than $1.6 billion across the Commonwealth and could create nearly 10,100 jobs,, while helping to retain an additional 4,300 existing Kentucky jobs.