| Last Action | 02/17/22: recommitted to Appropriations & Revenue (H) |
|---|---|
| Title | AN ACT relating to the community investment tax credit. |
| Bill Documents | Introduced |
| Bill Request Number | 1512 |
| Sponsors | W. Lawrence, J. Calloway, C. Massey |
| Summary of Original Version | For taxable years beginning on or after January 1, 2023, but before January 1, 2027, create a new section in KRS Chapter 141 to establish the community investment credit for financial institutions making loans to a community development financial institution; establish the annual credit cap at $20 million; require the Department of Revenue to report tax credit data to the Interim Joint Committee on Appropriations and Revenue; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Legislative Research Commission to receive confidential data about the new tax credit from the Department of Revenue. |
| Index Headings of Original Version |
Taxation - Income tax, community investment tax credit Taxation, Income--Corporate - Income tax, community investment tax credit Taxation, Income--Individual - Income tax, community investment tax credit Fiscal Note - Income tax, community investment tax credit |
| Jump to Proposed Amendments |
House Committee Substitute 1 House Committee Amendment 1 |
| 01/20/22 |
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| 02/14/22 |
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| 02/16/22 |
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| 02/17/22 |
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| Amendment | House Committee Substitute 1 |
|---|---|
| Summary | Retain original provisions; amend KRS 171.397 to allow the historic preservation tax credit to be applied to the individual and corporation income taxes. |
| Index Headings |
Taxation - Historic preservation tax credit Taxation, Income--Corporate - Historic preservation tax credit Taxation, Income--Individual - Historic preservation tax credit Fiscal Note - Historic preservation tax credit |
| Amendment | House Committee Amendment 1 |
|---|---|
| Sponsor | W. Lawrence |
| Summary | Make title amendment. |
| Index Headings | Title Amendments - HB 333 |
Last updated: 2/8/2023 2:57 PM (EST)