Beshear signs legislation to lower utility and mortgage costs

FRANKFORT, Ky. – On Wednesday, Gov. Andy Beshear signed Senate Bills 57 and 157 to potentially lower utility costs and mortgage rates.

According to the governor’s office, utility costs could be lowered through a nuclear energy development pilot program.

“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,” Beshear said. “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

Officials say Senate Bill 57 creates the Nuclear Reactor Site Readiness Pilot Program. According to the governor’s office, the program 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 

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,” officials say.

So far, the governor’s office says Beshear also signed the following legislation during 2026:

• House Bill 393, supporting progress on Kentucky’s Alzheimer’s and related dementias plan.
• House Bill 510, establishing safeguards for organ donation.
• Senate Bill 97, requiring health benefit plans to cover prosthetics and orthotics.
• House Bill 307 to create a proactive admissions program to streamline the application process for students seeking postsecondary.
• House Bill 642 to increase the amount a retired teacher can earn during reemployment.
• Senate Bill 69, Senate Bill 85 and House Bill 562.
• Senate Bill 2, directing school districts to not increase administrator pay greater than the percentage pay increase provided to classroom teachers.
• Senate Bill 5 encouraging schools to purchase locally grown food.
• Senate Bill 46, which makes changes to student transportation for increased safety.
• House Bill 657, which protects consumers by requiring national and state background checks for specialty providers.
• Senate Bill 145 related to regulations for the Department of Alcoholic Beverage Control.
• Senate Bill 11 into law, establishing a residential safe room rebate program and fund to protect eligible Kentuckians from severe weather.
• Senate Bill 172, which helped lower the cost of utilities for Kentucky families.

Additional details regarding Wednesday’s legislation announcement have not been released at this time. News 40 will provide updates as they become available.