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House Bill 129

Actions | Amendments
Last Action recommitted to Appropriations & Revenue (H)
Title AN ACT relating to individual income tax.
Bill Documents Bill
Bill Request Number 366
Sponsors B. Yonts, C. Embry Jr., D. Floyd, K. Hall
Summary of Original Version Create a new section of KRS Chapter 141 to allow the loan forgiveness tax credit if there are insufficient funds available to the Higher Education Assistance Authority for certain loan forgiveness programs; amend KRS 141.0205 to order the credit; amend KRS 164.7531 to require certification of the credit.
Index Headings of Original Version Education, Higher - Loan forgiveness tax credit, certification of
Taxation - Loan forgiveness tax credit, allowance of
Taxation, Income--Individual - Loan forgiveness tax credit, allowance of
Proposed Amendments House Committee Substitute 1

Actions

Top | Amendments
12/15/09
  • Prefiled by the sponsor(s).
01/05/10
  • introduced in House
  • to Appropriations & Revenue (H)
02/16/10
  • reassigned to Education (H)
02/19/10
  • posted in committee
02/23/10
  • reported favorably, 1st reading, to Calendar with Committee Substitute
02/24/10
  • 2nd reading, to Rules
  • recommitted to Appropriations & Revenue (H)

Proposed Amendments

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Amendment House Committee Substitute 1
Summary Propose modification of the original provisions to require the tax credit amount be limited to $30,000 taken over a 10-year period, allowing a 5-year carry forward of any unused credit; require, upon request from the eligible program participant, the Higher Education Assistance Authority to certify the amount of tax credit that may be taken; provide that the eligible program participant longer qualify for loan forgiveness if the participant receives a certification of tax credit; make conforming changes.
Index Headings Education, Higher - Loan forgiveness tax credit, certification of
Taxation - Loan forgiveness tax credit, allowance of
Taxation, Income--Individual - Loan forgiveness tax credit, allowance of

Last updated: 8/28/2019 7:34 AM (EDT)