21RS HB 344

Actions

Last Action	02/02/21: to Committee on Committees (H)
Title	AN ACT relating to the certified rehabilitation tax credit cap.
Bill Documents	Introduced
Bill Request Number	1253
Sponsor	A. Bowling
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; amend KRS 141.0205 to allow for ordering of the credits.
Index Headings of Original Version	Taxation - Income tax, certified rehabilitation tax credit cap, expansion Taxation, Income--Corporate - Certified rehabilitation tax credit cap, expansion Taxation, Income--Individual - Certified rehabilitation tax credit cap, expansion