AN ACT relating to the Renaissance Kentucky Tax Credit Program.
     Create a new section of KRS Chapter 141 to provide an income tax credit for the rehabilitation of historic and nonhistoric structures located in renaissance Kentucky communities; amend KRS 141.0206 to conform; create a new section of KRS 136.500 to 136.575 to provide a credit against the bank franchise tax for the rehabilitation of historic and nonhistoric structures located in renaissance Kentucky communities; create a new section of KRS Chapter 171 to require the Kentucky Heritage Council to promulgate administrative regulations to establish criteria for the operation and management of the Renaissance Kentucky Tax Credit Program; create a new section of KRS Chapter 198A to require the Kentucky Housing Corporation to establish criteria for the designation of individual communities as "renaissance Kentucky Communities"; cite as the "Renaissance Kentucky Tax Credit Program Act"; provide that Sections 1,2 and 3 of the Act apply to taxable years beginning after December 31, 1998; provide that Sections 1,2 and 3 of the Act take effect on January 1, 1999.

     Feb 27-introduced in House
     Mar 2-to Appropriations and Revenue (H)
     Mar 10-posting waived
     Mar 12-reported favorably, 1st reading, to Calendar
     Mar 13-2nd reading, to Rules; recommitted to Appropriations and Revenue (H)