Senate Bill 323

Actions
Last Action 03/07/22: to Appropriations & Revenue (S)
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

Actions

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03/03/22
  • introduced in Senate
  • to Committee on Committees (S)
03/07/22
  • to Appropriations & Revenue (S)


Last updated: 5/25/2022 2:58 PM (EDT)
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