06RS HB231

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Includes opposite chamber sponsors where requested by primary sponsors of substantially similar bills in both chambers and jointly approved by the Committee on Committees of both chambers. Opposite chamber sponsors are represented in italics.

HB 231 (BR 417) - M. Harmon, J. Fischer, D. Floyd

AN ACT relating to tax credits to enhance the educational opportunities for all students in Kentucky.
Create various new sections of KRS Chapter 141 to establish a nonrefundable family education tax credit program for corporations who contribute to scholarship organizations and individuals who directly pay for tuition and other educational expenses; define terms; establish maximum credit amounts; direct the Department of Revenue to promulgate regulations and publish lists; amend KRS 141.010 to exempt amounts received as scholarship grants from "adjusted gross income"; amend KRS 141.0205 to establish the order in which the nonrefundable family education tax credit is applied against tax imposed by KRS 141.020 and 141.040; apply the credit beginning with the 2006 tax year.

Jan 4-introduced in House
Jan 5-to Appropriations and Revenue (H)

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