House Bill 142

Actions
Last Action 01/05/21: to Committee on Committees (H)
Title AN ACT relating to the Kentucky Affordable Housing Act.
Bill Documents Introduced
Bill Request Number 896
Sponsors R. Bridges, K. Banta, T. Bojanowski, J. Decker, J. Dixon, J. DuPlessis, J. Fischer, D. Hale, M. Hart, S. Heavrin, R. Huff, S. Miles, J. Miller, P. Minter, R. Palumbo, P. Pratt, J. Raymond, S. Santoro, S. Sheldon, K. Timoney, S. Westrom
Summary of Original Version Create a new section of KRS Chapter 198A to establish the nonrefundable Kentucky affordable housing credit for taxable years or periods beginning on or after January 1, 2024, for a period of five years; allow the credit to be applied to the income and insurance taxes, in an amount equal to the amount of federal low-income housing tax credit; provide that the aggregate amount of tax credit for any year shall not exceed $12.5 million; create a new section of KRS Chapter 141 to allow the credit to be applied to income and limited liability entity taxes; amend KRS 141.0205 to order the income tax credit; create new sections of KRS Chapter 136 to allow the credit to be applied to insurance tax; order the insurance tax credits; amend KRS 131.190 to conform.
Index Headings of Original Version Housing, Building, and Construction - Kentucky affordable housing tax credit, creation
Taxation - Kentucky affordable housing tax credit for income taxes, creation
Taxation, Income--Corporate - Kentucky affordable housing tax credit, creation
Taxation, Income--Individual - Kentucky affordable housing tax credit, creation
Reports Mandated - Kentucky affordable housing tax credit, annual reports

Actions

Top
12/11/20
  • Prefiled by the sponsor(s).
01/05/21
  • introduced in House
  • to Committee on Committees (H)


Last updated: 4/14/2021 8:30 AM (EDT)
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