| Last Action | to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to promise zone tax incentives. |
| Bill Documents | Introduced |
| Impact Statements | Fiscal Note |
| Bill Request Number | 74 |
| Sponsors | R. Nelson, R. Huff |
| Summary of Original Version | Amend KRS 139.570 to allow additional compensation for sellers in the promise zone; create a new section of KRS Chapter 141 to allow an income tax credit for qualified employees equal to the individual income tax on wages earned in the promise zone, not to exceed $2,400; allow an income tax credit for qualified employers in an amount equal to $100 for each employee working within the promise zone; require reporting by the Department of Revenue to the Legislative Research Commission; amend KRS 141.0205 to order the new tax credits; create a noncodified section to set forth the purpose of the Act and describe actions previously taken by the federal government. |
| Index Headings of Original Version |
Fiscal Note - Promisse zone tax incentives Taxation - Promise zone tax incentives Taxation, Income--Corporate - Promise zone tax incentives for employers Taxation, Income--Individual - Promise zone tax incentives for employees Taxation, Sales and Use - Additional compensation for sellers in promise zone Reports Mandated - Promise zone tax incentives |
| 08/05/16 |
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|---|---|
| 01/03/17 |
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Last updated: 1/16/2019 3:02 PM (EST)