|to Appropriations & Revenue (H)
|AN ACT relating to promise zone tax incentives.
|Bill Request Number
|J. York, J. Blanton, 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
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
Fiscal Note - Promise zone tax incentives
Last updated: 1/16/2019 3:02 PM (EST)