House Bill 182

Actions
Last Action to Appropriations & Revenue (H)
Title AN ACT relating to the establishment of a tax credit to promote investments in rural Kentucky businesses and making an appropriation therefor.
Bill Documents Introduced
Impact Statements Fiscal Note
Bill Request Number 198
Sponsors C. Harris, J. Blanton
Summary of Original Version Create new sections of KRS Chapter 136 to establish a new tax credit against the taxes imposed on insurance companies and financial institutions, for contributions made by them into rural growth funds which make investments in certain businesses principally operating in certain areas of the state; declare findings and the purpose of the credit; define terms; require an entity to follow a process to apply for certification as a rural growth fund, and for investors in that entity to receive tax credits awarded by the Department of Revenue; allow the department to issue $60,000,000 in tax credits; provide credit sunset terms and other conditions for participating in the program and for claiming the credit; provide for revocation of tax credits; allow the department to audit rural growth funds; limit any liability of the Commonwealth in regard to rural growth funds or investments made by them; require various reports to be filed with the department and the Legislative Research Commission to enable evaluations of the credit program; provide for the ordering of the credit; declare short title to be the Kentucky Rural Jobs Tax Credit Act of 2017; APPROPRIATION.
Index Headings of Original Version Economic Development - Rural growth fund tax credit to promote investments in businesses in rural areas
Fees - Rural growth fund, application for
Insurance - Insurance company taxation, rural growth fund tax credit
Legislative Research Commission - Rural growth fund tax credit, annual reports
Public Records and Reports - Rural growth fund tax credit, annual reports
Taxation - Bank franchise tax, rural growth fund tax credit
Taxation - Financial institutions, rural growth fund tax credit
Taxation - Insurance company taxation, rural growth fund tax credit
Taxation - Rural growth fund tax credit
Fiscal Note - Rural growth fund tax credit
Appropriations - Rural growth fund tax credit
Banks and Financial Institutions - Bank franchise tax, rural growth fund tax credit
Banks and Financial Institutions - Financial institutions, rural growth fund tax credit
Budget and Financial Administration - Rural growth fund tax credit
Reports Mandated - Rural growth fund tax credit, annual reports
Short Titles and Popular Names - Kentucky Rural Jobs Tax Credit Act of 2017

Actions

Top
02/07/17
  • introduced in House
02/09/17
  • to Appropriations & Revenue (H)


Last updated: 1/16/2019 3:02 PM (EST)