House Bill 488

Actions
Last Action 02/21/19: to Appropriations & Revenue (H)
Title AN ACT relating to tax credits.
Bill Documents Introduced
Impact Statements Fiscal Note
Bill Request Number 111
Sponsors R. Bridges, M. Dossett, C. Fugate, J. Gooch Jr., M. Hart, R. Heath, A. Koenig, D. Lewis, D. Meade , R. Meyer, J. Miller, P. Minter, T. Moore, P. Pratt, R. Rothenburger, S. Santoro, D. St. Onge, N. Tate, S. Westrom, L. Willner
Summary of Original Version Create a new section of KRS Chapter 198A to establish the nonrefundable Kentucky affordable housing credit; allow the credit to be applied to the income and insurance taxes, in an amount related to the amount of federal low-income housing tax credit; limit the total amount of all credits awarded during any year to the greater of 50 percent of the federal low-income housing tax credits awarded on qualified projects or $5,250,000; create a new section of KRS Chapter 141 to allow the credit income to be applied to taxes; amend KRS 141.0205 to order the income tax credit; create new sections of KRS Chapter 136 to allow the credit to be applied to insurance tax; order the insurance tax credits; amend KRS 131.190 to conform.
Index Headings of Original Version Housing, Building, and Construction - Kentucky affordable housing tax credit, creation of
Taxation - Kentucky affordable housing tax credit for income taxes, creation of
Taxation - Kentucky affordable housing tax credit for insurance taxes, creation of
Taxation, Income--Corporate - Kentucky affordable housing tax credit, creation of
Taxation, Income--Individual - Kentucky affordable housing tax credit, creation of
Reports Mandated - Kentucky affordable housing tax credit, annual reports
Fiscal Note - Kentucky affordable housing tax credit, creation of

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02/20/19
  • introduced in House
02/21/19
  • to Appropriations & Revenue (H)


Last updated: 5/10/2019 10:34 AM (EDT)
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