24RS HB 485

Actions

Last Action	02/07/24: to Committee on Committees (H)
Title	AN ACT relating to the New Markets Development Program tax credit.
Bill Documents	Introduced
Bill Request Number	1628
Sponsor	W. Lawrence
Summary of Original Version	Amend KRS 141.433 to allow amounts received as repayment on a qualified low-income community investment and reinvested in another qualified low-income community investment during the same calendar year to be considered continuously held; amend KRS 141.434 to increase the cap on total New Markets Development Program tax credits to $20 million in each fiscal year.
Index Headings of Original Version	Loans and Credit - Entity making qualified equity investment, New Markets Development Program tax credit Taxation - Income tax credit, New Markets Development Program Taxation, Income--Corporate - New Markets Development Program tax credit, increase to credit limit