| Last Action | 02/19/25: 2nd reading, to Rules |
|---|---|
| Title | AN ACT relating to the taxation of currency and bullion currency and declaring an emergency. |
| Bill Documents | Introduced |
| Fiscal Impact Statement | Additional Fiscal Impact Statements Exist |
| Bill Request Number | 1092 |
| Sponsors | T. Roberts, J. Petrie, A. Bowling, J. Branscum, S. Bratcher, J. Bray, J. Calloway, D. Elliott, C. Freeland, D. Gordon, P. Griffee, V. Grossl, D. Hale, J. Hodgson, D. Lewis, C. Massaroni, D. Meade , S. Miles, K. Moser, D. Osborne, M. Proctor, F. Rabourn, S. Rudy, W. Williams |
| Summary of Original Version | Create a new section of KRS Chapter 139 to create a violation when an official notice published by the secretary of the Finance and Administration Cabinet or the commissioner of the Department of Revenue improperly instructs that taxpayers should continue to collect and remit sales and use tax on currency or bullion currency, allow the taxpayer to file an action for refund in Circuit Court, and entitle the taxpayer to interest, injunctive relief, attorney's fees and costs, and liquidated damages of $1,000 for each day that the violation occurred; RETROACTIVE; EMERGENCY. |
| Index Headings of Original Version |
Effective Dates, Emergency - Sales and use tax, currency and bullion currency, tax relief State Agencies - Department of Revenue, currency and bullion currency Taxation - Sales and use, currency and bullion currency, tax relief Taxation, Sales and Use - Currency and bullion currency, tax relief Retroactive Legislation - Sales and use, currency and bullion currency, tax relief, August 1, 2024 Civil Actions - Currency and bullion currency, collection of tax Governor - Sales and use tax, currency and bullion currency, tax relief |
| Jump to Proposed Amendments | House Committee Substitute 1 with Fiscal Impact Statements |
| 01/10/25 |
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| 02/04/25 |
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| 02/18/25 |
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| 02/19/25 |
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| Amendment | House Committee Substitute 1 |
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| Fiscal Impact Statement | Fiscal Note to House Committee Substitute 1 |
| Summary | Retain original provisions with the following changes: provide for joint and several liability; make various technical corrections; limit retroactivity to apply to provision allowing claims for tax refunds in subsection (2) of Section 1 of the Act; EMERGENCY. |
| Index Headings |
Effective Dates, Emergency - Sales and use tax, currency and bullion currency, tax relief Governor - Sales and use tax, currency and bullion currency, tax relief State Agencies - Department of Revenue, currency and bullion currency Taxation - Sales and use, currency and bullion currency, tax relief Taxation, Sales and Use - Currency and bullion currency, tax relief Retroactive Legislation - Sales and use, currency and bullion currency, tax relief, August 1, 2024 Civil Actions - Currency and bullion currency, collection of tax |
Last updated: 2/21/2025 4:29 PM (EST)