Gov. Beshear Signs Legislation to Lower Utility and Mortgage Costs

Senate Bills 57 and 157.

(Frankfort, Ky.) - Today, Gov. Andy Beshear signed Senate Bills 57 and 157 to potentially lower utility costs through a nuclear energy development pilot program and to make homes more affordable for Kentuckians by lowering mortgage rates.

“Decisions at the federal level are causing costs to rise, and Americans across the country are feeling it at the grocery, gas pump and when their bills come at the end of the month. In Kentucky, we’re doing what we can to help our families,” said Gov. Beshear. “These two pieces of legislation will help more families achieve homeownership by lowering mortgage rates and potentially lower utility rates for Kentuckians over the long term. Every step makes a difference when it comes to helping our people save their hard-earned dollars.” 

Senate Bill 57 creates the Nuclear Reactor Site Readiness Pilot Program, which will award grant funding for site development and licensing to accelerate nuclear energy development in Kentucky with the goal of lowering utility costs for Kentuckians over the long term.   

Senate Bill 157 will allow Kentuckians to buy down their interest rates on their mortgages through discount points and better protect families from abusive lending practices.