House Bill 627

Actions
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

Actions

Top
02/28/22
  • introduced in House
  • to Committee on Committees (H)


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