House Bill 103

Actions
Last Action 03/14/22: returned to Appropriations & Revenue (H)
Title AN ACT relating to contributions made to a Kentucky qualified educational expense program.
Bill Documents Introduced
Fiscal Impact Statement Fiscal Note
Bill Request Number 840
Sponsors J. Miller, K. Timoney, S. Sheldon, J. Tipton, K. Upchurch
Summary of Original Version Amend KRS 141.019 to allow a tax exclusion of amounts contributed to a qualified educational expense program as defined in 26 U.S.C. sec. 529, effective for taxable years beginning on or after January 1, 2022; amend KRS 131.190 to allow reporting of credits; add a new section to KRS Chapter 141 to provide employers a tax credit for contributions to an employee's Kentucky Educational Savings Plan Trust; amend KRS 141.0205 to specify ordering of credits; create a new section of KRS 164A.300 to 164A.380 relating to the Kentucky Educational Savings Plan Trust, to require reporting to the Department of Revenue of refunds and amounts paid for purposes other than higher education costs.
Index Headings of Original Version Fiscal Note - Contributions to Kentucky Educational Savings Plan Trust, tax deduction
Education, Elementary and Secondary - Contributions to Kentucky Educational Savings Plan Trust, tax deduction
Education, Higher - Contributions to Kentucky Educational Savings Plan Trust, tax deduction
Taxation - Contributions to Kentucky Educational Savings Plan Trust, tax deduction
Taxation, Income--Corporate - Employer contributions, Kentucky Educational Savings Plan Trust, tax credit
Taxation, Income--Individual - Contributions to Kentucky Educational Savings Plan Trust, tax deduction

Actions

Top
12/06/21
  • Prefiled by the sponsor(s).
01/04/22
  • introduced in House
  • to Committee on Committees (H)
01/26/22
  • to Appropriations & Revenue (H)
03/14/22
  • taken from Appropriations & Revenue (H)
  • 1st reading
  • returned to Appropriations & Revenue (H)


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