25RS HB 243

House Bill 243

Actions

Last Action	02/07/25: to Appropriations & Revenue (H)
Title	AN ACT relating to review of financial incentives.
Bill Documents	Introduced
Bill Request Number	1268
Sponsors	K. Fleming, J. Tipton
Summary of Original Version	Create new sections of KRS Chapter 7A to establish the Financial Incentive Review Committee; define terms; specify committee membership, authority, powers and duties; establish requirements for meetings; establish requirements for how the General Assembly shall enact new financial incentives; require agencies to assign a unique identification number for purposes of reporting financial incentives; amend KRS 11.068 to require the annual production of a detailed estimate of the revenue loss resulting from each tax expenditure 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 committee; amend KRS 131.190 to allow the Department of Revenue to provide confidential data to the committee; amend KRS 148.522 to require the Tourism, Arts and Heritage Cabinet to collect, report, and provide data to the committee; amend KRS 154.12-210 to require the Cabinet for Economic Development to collect, report, coordinate, and provide data to the committee; amend KRS 246.030 to require the Department of Agriculture to collect, report, coordinate, and provide data to the committee.
Index Headings of Original Version	Budget and Financial Administration - Financial Incentive Review Committee, establishment, duties Economic Development - Financial Incentive Review Committee, establishment, duties General Assembly - Financial Incentive Review Committee, establishment, duties Legislative Research Commission - Financial Incentive Review Committee, establishment, duties State Agencies - Department of Agriculture, reporting requirement State Agencies - Cabinet for Economic Development, reporting requirement State Agencies - Department of Revenue, reporting requirement State Agencies - Tourism, Arts and Heritage Cabinet, reporting requirement Taxation - Financial Incentive Review Committee, establishment, duties Taxation, Income--Corporate - Financial Incentive Review Committee, establishment, duties Taxation, Income--Individual - Financial Incentive Review Committee, establishment, duties Taxation, Inheritance and Estate - Financial Incentive Review Committee, establishment, duties Taxation, Property - Financial Incentive Review Committee, establishment, duties Taxation, Sales and Use - Financial Incentive Review Committee, establishment, duties Taxation, Severance - Financial Incentive Review Committee, establishment, duties Auditor of Public Accounts - Financial Incentive Review Committee, establishment, duties

02/04/25	introduced in House to Committee on Committees (H)
02/07/25	to Appropriations & Revenue (H)