| Last Action | 02/21/19: to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to tax credits. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | 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 |
| 02/20/19 |
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|---|---|
| 02/21/19 |
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Last updated: 11/9/2023 3:07 PM (EST)