KY HB452

Excludes qualified tips from Kentucky individual income tax for taxable years beginning January 1, 2025, through December 31, 2028, aligning with the federal treatment under 26 U.S.C. sec. 224

Excludes qualified overtime compensation from Kentucky individual income tax for taxable years beginning January 1, 2025, through December 31, 2028, aligning with the federal treatment under 26 U.S.C. sec. 225

Adds statutory definitions for "qualified tips" and "qualified overtime compensation" to KRS 141.010, referencing the corresponding federal Internal Revenue Code sections

Declares an emergency exists due to the need for timely tax return processing, making the act effective immediately upon passage and approval by the Governor