| 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 |
| 12/06/21 |
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| 01/04/22 |
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| 01/26/22 |
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| 03/14/22 |
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Last updated: 2/8/2023 2:57 PM (EST)