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 |
02/28/22 |
|
---|
Last updated: 2/8/2023 2:57 PM (EST)