Senate Bill 313

Actions
Last Action 02/29/24: to Appropriations & Revenue (S)
Title AN ACT relating to tax credits for sustainable aviation fuel, making an appropriation therefor, and declaring an emergency.
Bill Documents Introduced
Bill Request Number 2136
Sponsors S. Funke Frommeyer, G. Williams
Summary of Original Version Create a new section of KRS Chapter 141 to establish the sustainable aviation fuel tax credit for taxable years beginning on or after January 1, 2025, but before January 1, 2035; compute credit based on $2.50 per gallon of sustainable aviation fuel consumed by taxpayers; create a new section of KRS Chapter 141 to establish the nonrefundable feedstock production tax credit for taxable years beginning on or after January 1, 2025, but before January 1, 2035; compute credit based on the amount of usable feedstock produced in this state; amend KRS 141.0205 for the ordering of the tax credits; amend KRS 131.190 to allow reporting by the Department of Revenue on the credits; amend KRS 154.27-010 and 154.27-020 to allow incentives for sustainable aviation fuel facilities with a minimum investment of $100 million; create an appropriation of $25 million for economic development projects for the production of sustainable aviation fuel with a minimum investment of $100,000,000; APPROPRIATION; EMERGENCY.
Index Headings of Original Version Economic Development - Projects for sustainable aviation fuel, incentive
Effective Dates, Emergency - Sustainable aviation fuel and feedstock production, tax credit and incentives
Fuel - Income tax credit, sustainable aviation fuel consumption, feedstock production
Fuel - Sales and use tax incentive, sustainable aviation fuel production
Taxation, Sales and Use - Projects for sustainable aviation fuel, incentive
Aeronautics and Aviation - Income tax credit, sustainable aviation fuel consumption, feedstock production
Aeronautics and Aviation - Production of sustainable aviation fuel, sales and use tax incentive
Appropriations - Sustainable fuel production facility
Taxation - Income tax credit, sustainable aviation fuel consumption, feedstock production
Taxation - Production of sustainable aviation fuel, sales and use tax incentive
Taxation, Income--Corporate - Sustainable aviation fuel consumption, feedstock production, tax credit
Taxation, Income--Individual - Sustainable aviation fuel consumption, feedstock production, tax credit

Actions

Top
02/27/24
  • introduced in Senate
  • to Committee on Committees (S)
02/29/24
  • to Appropriations & Revenue (S)


Last updated: 9/26/2024 1:37 PM (EDT)