| Last Action | 01/30/20: to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to the natural resources severance and processing tax. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Local Mandate |
| Bill Request Number | 1412 |
| Sponsors | S. Miles, J. Nemes, J. Miller |
| Summary of Original Version | Amend KRS 143A.010 to change the definition of "processing" to include the act of loading or unloading limestone that has not otherwise been severed or treated in the Commonwealth; amend KRS 143A.035 to allow a credit for substantially identical severance or processing taxes paid to another state or political subdivision thereof; provide that no taxpayer may claim a total amount of credit that exceeds his or her tax liability; allow the Department of Revenue to report tax credit information to the Legislative Research Commission; amend KRS 131.190 to authorize the release of information from the Department of Revenue; EFFECTIVE August 1, 2020. |
| Index Headings of Original Version |
Effective Dates, Delayed - Natural resources severance tax, August 1, 2019 Minerals and Mining - Natural resources severance tax, processing of limestone, loading or unloading Taxation - Natural resources severance tax, processing of limestone, loading or unloading Taxation, Severance - Natural resources severance tax, credit for taxes paid to another state Taxation, Severance - Natural resources severance tax, processing of limestone, loading or unloading Reports Mandated - Department of Revenue, natural resources severance tax credit report Local Mandate - Natural resources severance tax, processing of limestone, loading or unloading |
| 01/28/20 |
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|---|---|
| 01/30/20 |
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Last updated: 10/27/2020 12:10 PM (EDT)
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