22RS HB 627

House Bill 627

Actions

Last Action	02/28/22: to Committee on Committees (H)
Title	AN ACT relating to a tax credit for stillage management.
Bill Documents	Introduced
Bill Request Number	2246
Sponsor	M. Pollock
Summary of Original Version	Create new sections of Subchapter 20 of KRS Chapter 154 to establish a stillage management tax credit for taxable years beginning on or after January 1, 2023, but before January 1, 2027; establish the Stillage Management Board consisting of 13 voting and two nonvoting members; provide that the board is responsible for approval of the applications from stillage managers and reporting this to the Department of Revenue for processing of the return and tax credit; create a new section of KRS Chapter 141 to establish the stillage management tax credit and reporting requirements for the Department of Revenue; amend KRS 141.0205 to provide the ordering of tax credits; amend KRS 131.190 to require reporting by the Department of Revenue; amend KRS 141.4242 to sunset the ethanol tax credit; provide that the last taxable year for the credit is prior to January 1, 2023; amend KRS 141.4244 to sunset the cellulosic tax credit; provide that the last taxable year for the credit is prior to January 1, 2023; amend KRS 141.389 to allow a refundable portion of the distilled spirits tax credit for distillers installing system to transform stillage material into a value-added product for taxable years beginning on or after January 1, 2023.
Index Headings of Original Version	Distilled Spirits - Refundable distilled spirits tax credit Distilled Spirits - Stillage management tax credit, creation Grain - Spent brewers grain, stillage management tax credit Pollution - Distillery stillage waste management, income tax credit Taxation - Refundable distilled spirits tax credit Taxation - Stillage management tax credit, creation Taxation - Sunset of ethanol and cellulosic ethanol tax credits Taxation, Income--Corporate - Refundable distilled spirits tax credit Taxation, Income--Corporate - Stillage management tax credit, creation Taxation, Income--Corporate - Sunset of ethanol and cellulosic ethanol tax credits Taxation, Income--Individual - Stillage management tax credit, refundable distilled spirits tax credit Taxation, Income--Individual - Sunset of ethanol and cellulosic ethanol tax credits Waste Management - Conversion of stillage to value-added product, refundable distilled spirits tax credit Waste Management - Distillery stillage management, tax credit Agriculture - Stillage management tax credit, stillage manager, agricultural uses Advisory Boards, Commissions, and Committees - Stillage Management Board, creation