| Last Action | 03/07/22: to Appropriations & Revenue (S) |
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| Title | AN ACT relating to taxation of sustainable aviation fuel, making an appropriation therefor, and declaring an emergency. |
| Bill Documents | Introduced |
| Bill Request Number | 2297 |
| Sponsor | W. Schroder |
| Summary of Original Version | Create a new section of KRS Chapter 141 to establish the sustainable aviation fuel tax credit for taxable years beginning on or after January 1, 2023, but before January 1, 2027; compute credit based on $1.00 per gallon of qualified mixture consumed by taxpayers or $1.50 per gallon of sustainable aviation fuel consumed by taxpayers; amend KRS 141.0205 for the ordering of the tax credit; amend KRS 131.190 to allow reporting by the Department of Revenue on the credit; amend KRS 154.27-010 and 154.27-020 to allow incentives for sustainable aviation fuel facilities with a minimum investment of $3 million; create an appropriation of $10 million for economic development projects for the production of sustainable aviation fuel with a minimum investment of $100,000,000; EMERGENCY; APPROPRIATION. |
| Index Headings of Original Version |
Fuel - Income tax credit, sustainable aviation fuel consumption Fuel - Sales and use tax incentive, sustainable aviation fuel production Taxation - Income tax credit, sustainable aviation fuel consumption Taxation - Production of sustainable aviation fuel, sales and use tax incentive Taxation, Income--Corporate - Tax credit, sustainable aviation fuel consumption Taxation, Income--Individual - Sustainable aviation fuel consumption, tax credit Taxation, Sales and Use - Projects for sustainable aviation fuel, incentive Aeronautics and Aviation - Income tax credit, sustainable aviation fuel consumption Aeronautics and Aviation - Production of sustainable aviation fuel, sales and use tax incentive Appropriations - Sustainable fuel production facility Effective Dates, Emergency - Sustainable aviation fuel production, tax credit and incentives |
| 03/03/22 |
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| 03/07/22 |
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Last updated: 2/8/2023 2:57 PM (EST)