House Bill 278

Actions | Amendments
Last Action 03/15/21: signed by Governor (Acts Ch. 22)
Title AN ACT relating to Paycheck Protection Program loans and declaring an emergency.
Bill Documents Current/Final
Introduced
Fiscal Impact Statement Additional Fiscal Impact Statements Exist
Bill Request Number 1288
Sponsors P. Flannery, K. Banta, J. Bray, R. Bridges, J. Dixon, M. Dossett, D. Elliott, K. Fleming, M. Hart, S. Heavrin, A. Koenig, W. Lawrence, C. Massey, B. McCool, P. Pratt, S. Santoro, N. Tate, K. Timoney, R. Webber
Summary of Original Version Amend KRS 141.017, 141.019, and 141.039 to conform with Pub. L. No. 116-260, Sec. 276 to allow deductions paid with proceeds from a forgiven loan under the Paycheck Protection Program.
Index Headings of Original Version Taxation - Paycheck Protection Program loans forgiven, attributable deductions allowed
Taxation, Income--Corporate - Paycheck Protection Program loans forgiven, attributable deductions allowed
Taxation, Income--Individual - Paycheck Protection Program loans forgiven, attributable deductions allowed
Jump to Proposed Amendments House Committee Substitute 1 with Fiscal Impact Statements
House Committee Amendment 1
House Floor Amendment 1
House Floor Amendment 2
Senate Committee Substitute 1
Votes Vote History

Actions

Top | Amendments
01/13/21
  • introduced in House
  • to Committee on Committees (H)
02/04/21
  • to Appropriations & Revenue (H)
  • posted in committee
02/09/21
  • reported favorably, 1st reading, to Calendar with Committee Substitute and committee amendment (1-title)
02/10/21
  • 2nd reading, to Rules
  • posted for passage in the Regular Orders of the Day for Thursday, February 11, 2021
02/22/21
  • floor amendment (1-title) filed
02/23/21
  • floor amendment (2) filed to Committee Substitute
02/24/21
  • 3rd reading, passed 96-1 with Committee Substitute and floor amendments (2) and (1-title)
02/25/21
  • received in Senate
  • to Committee on Committees (S)
03/01/21
  • to Appropriations & Revenue (S)
  • taken from Appropriations & Revenue (S)
  • 1st reading
  • returned to Appropriations & Revenue (S)
03/02/21
  • taken from Appropriations & Revenue (S)
  • 2nd reading
  • returned to Appropriations & Revenue (S)
03/11/21
  • reported favorably, 2nd reading, to Rules with Committee Substitute (1)
  • posted for passage in the Regular Orders of the Day for Thursday, March 11, 2021
  • 3rd reading, passed 33-0 with Committee Substitute (1)
  • received in House
  • to Rules (H)
03/12/21
  • taken from Rules
  • placed in the Orders of the Day
  • House concurred in Senate Committee Substitute
  • passed 89-3
03/15/21
  • enrolled, signed by Speaker of the House
  • enrolled, signed by President of the Senate
  • delivered to Governor
  • signed by Governor (Acts Ch. 22)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Fiscal Impact Statement Fiscal Note to House Committee Substitute 1
Summary Amend KRS 141.017, 141.019 and 141.039 to allow for the same tax treatment as for federal purposes related to forgiven covered loans, deductions, and tax attributes associated with those loans in accordance with Pub. L. No. 116-260.
Index Headings Taxation - Paycheck Protection Program loans
Taxation, Income--Corporate - Paycheck Protection Program loans
Taxation, Income--Individual - Paycheck Protection Program loans
Fiscal Note - Paycheck Protection Program loans

Amendment House Committee Amendment 1
Sponsor J. Petrie
Summary Make title amendment.
Index Headings Title Amendments - HB 278

Amendment House Floor Amendment 1
Sponsor S. Rudy
Summary Make title amendment.
Index Headings Title Amendments - HB 278

Amendment House Floor Amendment 2
Sponsor P. Flannery
Summary Retain original provisions of the bill; expand the federal provisions adopted to include an additional section of Pub. Law No. 116-260; modify the taxable years to which Kentucky's income tax would apply the federal provision.
Index Headings Taxation - Paycheck protection loans
Taxation, Income--Corporate - Paycheck protection loans
Taxation, Income--Individual - Paycheck protection loans

Amendment Senate Committee Substitute 1
Summary Amend KRS 141.017, 141.019 and 141.039 to allow for the same tax treatment as for federal purposes related to forgiven covered loans, deductions, and tax attributes associated with those loans in accordance with Pub. L. No. 116-260.
Index Headings Taxation - Paycheck Protection Program loans
Taxation, Income--Corporate - Paycheck Protection Program loans
Taxation, Income--Individual - Paycheck Protection Program loans

Last updated: 4/11/2021 12:15 AM (EDT)
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