Kentucky HB 516: AN ACT relating to auctions. Amend KRS 139.496 to exempt gross receipts from a charity auction July 1, 2017 to July 1, 2021, by a nonprofit civic, governmental, or other nonprofit organization if the proceeds from the auction are used for a specific purpose; Amend KRS 330.020 to include "escrow account" in the definitions; amend KRS 330.032 to require proceeds of real property auctions conducted through collaboration to be placed into the escrow account of the real estate broker; amend KRS 330.040 to remove students from exemptions under KRS 330.030; amend KRS 330.050 to require the Governor to establish the compensation of the members of the Board of Auctioneers; amend KRS 330.060 to remove the board's authority to waive the attainment of a high school diploma for an apprentice licensed before 1985; amend KRS 330.110 to establish the conditions upon which the board may suspend or revoke a license; require licensees to submit to a criminal background check at the board's request; amend KRS 330.130 to prescribe the conditions under which a licensee can appeal the revocation or suspension of a license; allow auctioneers at reserve auctions and without-reserve auctions to establish reasonable, minimum bid increments once an opening bid has been offered; amend KRS 330.192 to conform.

Status: Returned to Licensing, Occupations, & Administrative Regulations (S) (as of 2017-03-07)

State: Kentucky · Session: 2017RS · Bill: HB 516

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