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House Bill 280

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Last Action to Appropriations & Revenue (H)
Title AN ACT relating to the Kentucky Investment Fund Act.
Bill Documents Bill
Impact Statements Fiscal Note
Bill Request Number 1263
Sponsors R. Palumbo, D. Keene, T. Kerr
Summary of Original Version Create new sections of Subchapter 20 of KRS Chapter 154 to expand the Kentucky Investment Fund Act to allow for tax credits to be provided to individual investors making certain investments in small businesses, in addition to credits to investment funds; define terms; state Act's title and purposes; list requirements for small businesses and individual investors to qualify for participation; require the Kentucky Economic Development Finance Authority (KEDFA) to establish the application process; cap the total amount of individual investor and investment fund tax credits available through the Kentucky Investment Fund Act in all years at $40,000,000; require KEDFA to maintain a Web site listing all businesses and individual investors certified and all credits awarded; require small businesses to report annually and allow for tax credit recapture in certain circumstances; amend KRS 152.20-255 to provide that the total amount of tax credits available through the Kentucky Investment Fund Act program for both individuals and funds is $40,000,000 in all years; create a new section of KRS Chapter 141 to establish the credit; amend KRS 141.0205 to provide the ordering of the credit and make technical corrections.
Index Headings of Original Version Fiscal Note - Angel investor tax credit program, creation of
Economic Development - Angel investor tax credit program, creation of
Economic Development - Enhanced incentive counties, angel investments in
Economic Development - Kentucky Investment Fund Act, credit cap, amendment of
Science and Technology - Angel investments in knowledge-based businesses, tax credit for, creation of
Small Business - Angel investments in small businesses, tax credit for, creation of
Taxation - Angel investor tax credit program, creation of
Taxation, Income--Individual - Angel investor tax credit program, creation of

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02/07/13
  • introduced in House
02/11/13
  • to Appropriations & Revenue (H)


Last updated: 8/27/2019 7:53 PM (EDT)