House Bill 492

Last Action 02/27/20: to Appropriations & Revenue (H)
Title AN ACT relating to the community investment tax credit.
Bill Documents Introduced
Bill Request Number 2085
Sponsor M. Hart
Summary of Original Version For taxable years beginning on or after January 1, 2021, but before January 1, 2025, create a new section in KRS Chapter 141 to establish the community investment credit for financial institutions making loans to a community development financial institution; establish the annual credit cap at $20 million; require the Department of Revenue to report tax credit data to the Interim Joint Committee on Appropriations and Revenue; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Legislative Research Commission to receive confidential data about the new tax credit from the Department of Revenue.
Index Headings of Original Version Taxation - Income tax, community tax credit
Taxation, Income--Corporate - Income tax, community tax credit
Taxation, Income--Individual - Income tax, community tax credit


  • introduced in House
  • to Appropriations & Revenue (H)

Last updated: 10/27/2020 12:10 PM (EDT)
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