KY HB131

Creates a nonrefundable, nontransferable tax credit for Kentucky resident taxpayers who contribute to a Kentucky Educational Savings Plan Trust (529) account, effective for taxable years beginning January 1, 2027 through December 31, 2030

Credit amount equals total contributions made during the taxable year, capped at $19,000 per taxpayer per year

Requires the Department of Revenue to report annually by November 1 to the Legislative Research Commission on the number of returns claiming the credit, total amounts claimed, breakdown by county, and breakdown by adjusted gross income ranges

Amends KRS 141.0205 to establish the ordering of this credit among other nonrefundable personal tax credits, placing it after the Education Opportunity Account Program credit

Amends KRS 131.190 to authorize the department to provide credit-related information to the Legislative Research Commission for oversight purposes