26RS SB 255

Senate Bill 255

Actions

Last Action	02/26/26: to Committee on Committees (S)
Title	AN ACT relating to rural revitalization.
Bill Documents	Introduced
Bill Request Number	2031
Sponsor	S. Meredith
Summary of Original Version	Create new sections of KRS Chapter 65 to provide incremental revenue tax incentives to the Rural Kentucky Revitalization Opportunity Partnership; define terms; state findings; establish the Rural Kentucky Revitalization Opportunity Partnership Board; establish incentive program; create an income tax credit for certain residents; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow reporting by the Department of Revenue.
Index Headings of Original Version	Cities - Rural Kentucky Revitalization Opportunity Partnership, investment, tax increment financing Counties - Rural Kentucky Revitalization Opportunity Partnership, investment, tax increment financing Economic Development - Rural Kentucky Revitalization Opportunity Partnership, investment, tax increment financing Local Government - Rural Kentucky Revitalization Opportunity Partnership, investment, tax increment financing Reports Mandated - Department of Revenue, rural Kentucky revitalization area tax credit Taxation - Rural Kentucky revitalization area credit, tax increment financing Taxation, Income--Corporate - Rural Kentucky revitalization area credit, establishment Taxation, Income--Individual - Rural Kentucky revitalization area credit, establishment Budget And Financial Administration - Rural Kentucky Revitalization Opportunity Partnership, investment, tax increment financing