HB 557/FN (BR 1763) - H. Moberly Jr
AN ACT relating to revenue and taxation.
Amend KRS 13B.020 to exempt license and bond revocation hearings for motor fuels dealers, LP gas dealers, and cigarette licensees from the administrative hearing process in Chapter 13B; amend KRS 131.081 to allow the Department of Revenue to make a recording of any conference or meeting if the taxpayer records same; amend KRS 138.450 to define additional terms, allow trade-in credit when the reference manual is used to value a used vehicle, clarify that the owner of a used vehicle may receive a trade-in credit for the vehicle he owns; delete language limiting trade-in credit to used vehicles purchased in Kentucky only; amend KRS 138.464 to require county clerks to forward duplicate receipts and weekly reports of money collected within seven working days; create a new section of KRS Chapter 139 to exempt out-of-state commercial printers and mailers from collecting sales and use tax; amend KRS 387.025 to no longer require the District Court clerk to send guardian information to the Department of Revenue; amend KRS 138.224, 138.226, 138.460, 138.4605, and 138.344 to conform; repeal KRS 138.500.
HB 557 - AMENDMENTS
HCS/FN - Retain original provisions of the bill; clarify that the owner of a disregarded entity for federal tax purposes shall be considered to have nexus in Kentucky.
SCS - Retain the original provisions; make technical corrections to 2006 HB 380/EN.
SCA (1, C. Borders) - Amend KRS 141.010 to change the definition of "corporation" and add definitions of "pass-through entity," "S corporation," and "limited liability pass-through entity"; move definitions relating to the alternative minimum tax to a new section; amend KRS 141.0205 to recognize changes to types of credits; amend KRS 141.040 to recognize change in corporate definitions; create a new section of KRS Chapter 141 for the alternative minimum calculation and provide an exclusion; amend KRS 141.120 to address pass-through entity apportionment; amend KRS 141.200 to recognize changes to corporate definitions; amend KRS 141.205 to recognize changes to corporate definitions and to make a technical correction; amend KRS 141.206 to recognize changes in definitions and to require withholding on nonresident owners of pass-through entities; allow limited exceptions; amend KRS 141.208 to treat limited liability companies for tax purposes as they are treated by the IRS; amend KRS 141.420 to apply the individual credit for tax years beginning during 2005 and 2006; amend various sections of KRS chapters 141, 136, 144, and 154 to conform; make several technical corrections; effective for tax years beginning on and after January 1, 2007.
SCA (2, C. Borders) - Retain original provisions; attach the provisions of 2006 HB 422/SCS.
SCA (3/Title, C. Borders) - Make title amendment.
Feb 10-introduced in House
Feb 13-to Appropriations and Revenue (H); posting waived
Feb 21-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 22-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, February 23, 2006
Feb 23-3rd reading, passed 98-0 with Committee Substitute
Feb 24-received in Senate
Feb 28-to Appropriations and Revenue (S)
Mar 14-taken from committee; 1st reading, to Calendar
Mar 15-2nd reading; returned to Appropriations and Revenue (S)
Apr 12-reported favorably, to Rules with Committee Substitute, committee amendments (1) (2) and (3-title) ; 3rd reading, passed 22-0-11 with Committee Substitute, committee amendments (1) (2) and (3-title) ; received in House; House refused to concur in Senate committee amendment (2) ; received in Senate; Senate receded from committee amendments (1) and (2) ; passed 34-0 with Committee Substitute, committee amendment (3-title) ; received in House; House concurred in Senate Committee Substitute, committee amendment (3-title) ; passed 72-11; enrolled, signed by each presiding officer; delivered to Governor
Apr 24-Five line items vetoed (Acts ch. 251)