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House Bill 137

Actions | Amendments

Last Action	recommitted to Appropriations & Revenue (H)
Title	AN ACT relating to the Kentucky Retirement Systems unfunded liability trust fund and making an appropriation therefor.
Bill Documents	Bill
Impact Statements	Actuarial Analysis
Bill Request Number	836
Sponsors	B. Yonts, K. Imes
Summary of Original Version	Create a new section of KRS Chapter 139 to provide that if federal legislation is enacted that requires out-of-state sellers to collect and remit sales and use tax on behalf of states, tax receipts and interest and penalties thereon resulting from the enactment of the federal legislation shall be deposited in the Kentucky Retirement Systems unfunded liability trust fund.
Index Headings of Original Version	Actuarial Analysis - Sales or use tax on remote sales, Kentucky Retirement Systems unfunded liability trust fund Retirement and Pensions - Sales and use tax, remote sales, unfunded liability trust fund, appropriate Taxation - Sales and use tax, remote sales, appropriate Taxation, Sales and Use - Remote sales, Kentucky Retirement Systems unfunded liability trust fund Appropriations - Sales or use tax on remote sales, Kentucky Retirement Systems unfunded liability trust fund
Proposed Amendments	House Committee Substitute 1 House Committee Amendment 1

Actions

Top | Amendments

01/07/14	introduced in House
01/08/14	to State Government (H)
01/28/14	posted in committee
02/06/14	reported favorably, 1st reading, to Consent Calendar with Committee Substitute, committee amendment (1-title)
02/07/14	2nd reading, to Rules recommitted to Appropriations & Revenue (H)

Proposed Amendments

Top | Actions

Amendment	House Committee Substitute 1
Impact Statements	Actuarial Analysis
Summary	Create a new section of KRS Chapter 139 to require that, if federal legislation is enacted that requires out-of-state sellers to collect and remit sales and use tax on behalf of states, a portion of the tax receipts and interest and penalties thereon resulting from the enactment of the federal legislation be transferred from the general fund to the state-administered retirement systems unfunded liability trust fund; amend KRS 139.570 to increase vendor compensation for timely collecting and remitting sales and use tax, if federal legislation is enacted that requires out-of-state sellers to collect and remit sales and use tax on behalf of states; create a new section of KRS Chapter 61 to establish the state-administered retirement systems trust fund.
Index Headings	Actuarial Analysis - Sales or use tax on remote sales, Kentucky Retirement Systems unfunded liability trust fund Retirement and Pensions - Sales and use tax, remote sales, unfunded liability trust fund, appropriate Taxation - Sales and use tax, remote sales, appropriate Taxation, Sales and Use - Remote sales, Kentucky Retirement Systems unfunded liability trust fund Appropriations - Sales or use tax on remote sales, Kentucky Retirement Systems unfunded liability trust fund

Amendment	House Committee Amendment 1
Sponsor	B. Yonts
Summary	Make title amendment.
Index Headings	Actuarial Analysis - Sales or use tax on remote sales, Kentucky Retirement Systems unfunded liability trust fund Retirement and Pensions - Sales and use tax, remote sales, unfunded liability trust fund, appropriate Taxation - Sales and use tax, remote sales, appropriate Taxation, Sales and Use - Remote sales, Kentucky Retirement Systems unfunded liability trust fund Appropriations - Sales or use tax on remote sales, Kentucky Retirement Systems unfunded liability trust fund

Last updated: 8/27/2019 6:52 PM (EDT)