22RS HB 322

Actions

Last Action	01/19/22: to Committee on Committees (H)
Title	AN ACT relating to a tax credit for Kentucky Education Savings Plan Trust account contributions.
Bill Documents	Introduced
Bill Request Number	240
Sponsor	M. Lockett
Summary of Original Version	Create a new section of KRS Chapter 141 to establish a nonrefundable tax credit against the tax imposed under KRS 141.020 for qualifying contributions made to a Kentucky Education Savings Plan trust account in accordance with the guidelines in 26 U.S.C. sec. 529, for taxable years beginning on or after January 1, 2022 but prior to January 1, 2026; amend KRS 131.190 to establish reporting requirements; amend KRS 141.0205 to provide the ordering of the tax credit.
Index Headings of Original Version	Taxation - Kentucky Education Savings Plan trust contribution, income tax credit Taxation, Income--Individual - Kentucky Education Savings Plan trust contribution, credit