26RS HB 27

Actions

Last Action	01/06/26: to Committee on Committees (H)
Title	AN ACT relating to contributions made to a Kentucky Saves account.
Bill Documents	Introduced
Bill Request Number	1070
Sponsor	L. Burke
Summary of Original Version	Amend KRS 141.019 to establish an individual income tax exclusion for amounts contributed to a Kentucky Saves account for taxable years beginning on or after January 1, 2027, but before January 1, 2031; create a new section of KRS Chapter 141 to establish the parameters for the Kentucky Saves exclusion and to establish the Kentucky Saves tax credit; define terms; require the Department of Revenue to report annually on the exclusion and tax credit; amend KRS 141.0205 to provide ordering of the tax credit; amend KRS 131.190 to allow the Department of Revenue to report on the exclusion and tax credit.
Index Headings of Original Version	Reports Mandated - Department of Revenue, income tax, Kentucky Saves account, credit and exclusion Education, Finance - Kentucky Saves account, contributions, tax incentives Taxation - Kentucky Saves account, contributions, credit Taxation - Kentucky Saves account, contributions, exclusion from tax Taxation, Income--Individual - Kentucky Saves account, credit and exclusion