House Bill 325

Actions
Last Action 01/28/20: to Appropriations & Revenue (H)
Title AN ACT relating to the certified rehabilitation tax credit cap.
Bill Documents Introduced
Bill Request Number 955
Sponsors A. Bowling, T. Branham Clark, R. Palumbo
Summary of Original Version Amend KRS 171.396 to expand the certified rehabilitation tax credit cap to $30 million annually instead of the current tax credit cap of $5 million annually; define a rural county; amend KRS 171.397 to allow a 30% credit for qualified expenses for property located within a rural county; change the maximum credit that can be claimed for all other property that is not owner-occupied residential to $5 million annually instead of the current cap of $400,000 annually; and reserve 40% of the certified rehabilitation credit cap for property located in a rural county.
Index Headings of Original Version Taxation - Income tax, certified rehabilitation tax credit cap, expansion of
Taxation, Income--Corporate - Certified rehabilitation tax credit cap, expansion of
Taxation, Income--Individual - Certified rehabilitation tax credit cap, expansion of

Actions

Top
01/24/20
  • introduced in House
01/28/20
  • to Appropriations & Revenue (H)


Last updated: 4/29/2020 12:16 PM (EDT)
To receive notice when the record is updated follow @LRCTweetBot.