House Bill 747

Actions
Last Action 03/01/22: to Committee on Committees (H)
Title AN ACT relating to a tax credit for security modifications.
Bill Documents Introduced
Bill Request Number 2308
Sponsor M. Cantrell
Summary of Original Version Create a new section of KRS Chapter 141 to establish a nonrefundable tax credit for security modifications made to the exterior of a residential home or commercial property; establish that the credit shall be equal to the installed costs not to exceed $5,000 per taxable year, with an aggregate total of $10 million per taxable year of all credits allocated as $5 million as credits against the tax imposed under KRS 141.020 and $5 million as credits against the tax imposed under KRS 141.040 and 141.0401; provide that the income limitation for individuals and joint filers shall be $150,000 in adjusted gross income; amend KRS 141.0205 to order the credit; amend KRS 131.091 to allow reporting by the Department of Revenue.
Index Headings of Original Version Safety - Tax credit for security modifications
Taxation - Security modification tax credit
Taxation, Income--Individual - Tax credit for security modifications

Actions

Top
03/01/22
  • introduced in House
  • to Committee on Committees (H)


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