While the bill passed the state House, it failed in the Senate.
Quintez Brown is now in federal custody.
The man charged with shooting at a Louisville mayoral candidate in February was formally arraigned Monday.
The bill also would prohibit any charitable bail organization from posting bail for any offense of domestic violence and abuse.
Brown, 21, was arrested and charged after opening fire inside the office of Democratic mayoral candidate Craig Greenberg.
Under House Bill 313, charitable bail projects would no longer be required to report information on their donors. It was originally a requirement in the bill's first draft.
States across the country have differing laws on bail bonds. In Kentucky, a judge ultimately has the final say on the exact dollar amount of a set bail.
"Our criminal justice system is clearly broken," Greenberg said in response to the release of Quintez Brown.
The recent case of 21-year-old Quintez Brown, who was released from jail Wednesday after the Louisville Community Bail Fund posted his $100,000 bond, has added fuel to the debate.
Some Louisville organizations are pushing against the proposed bill.