Last Action | 02/23/23: to Appropriations & Revenue (H) |
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Title | AN ACT relating to economic fiscal matters. |
Bill Documents | Introduced |
Bill Request Number | 453 |
Sponsor | K. Fleming |
Summary of Original Version | Create new sections of KRS Chapter 7A to establish the Tax Expenditure and Economic Development Incentive Review Board and specify the board's membership, authority, powers and duties; establish requirements for board meetings; establish requirements for when the General Assembly enacts new tax expenditures or economic development incentives; require agencies to assign taxpayers a unique number for purposes of reporting tax expenditures and economic development incentives; amend KRS 11.068 to require the annual production of a detailed estimate of the revenue loss resulting from each tax expenditure and economic development incentive from the general fund and road fund; amend KRS 131.020 to require the Department of Revenue to collect, report, and provide data to the Tax Expenditure and Economic Development Incentive Review Board; amend KRS 131.190 to allow the Department of Revenue to provide confidential data to the Tax Expenditure and Economic Development Incentive Review Board. |
Index Headings of Original Version |
Economic Development - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties General Assembly - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Legislative Research Commission - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties State Agencies - Department of Revenue, reporting requirement Reports Mandated - Tax Expenditure and Economic Development Review Board, annual report Advisory Boards, Commissions, and Committees - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Taxation - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Taxation, Income--Corporate - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Taxation, Income--Individual - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Taxation, Inheritance and Estate - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Taxation, Property - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Taxation, Sales and Use - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Taxation, Severance - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Auditor of Public Accounts - Tax Expenditure and Economic Development Incentive Review Board, establishment, duties Budget and Financial Administration - Estimate of revenue loss, tax expenditures and economic development incentives, publication |
01/03/23 |
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02/23/23 |
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Last updated: 11/9/2023 3:03 PM (EST)