KY HB489

Creates a nonrefundable state income tax credit of $4,000 per eligible child, capped at $8,000 per return per year, for children ages 6-18 who do not attend public school and are subject to compulsory attendance requirements

Applies to taxable years beginning January 1, 2027 through December 31, 2030

Requires the Department of Revenue to coordinate with the Kentucky Department of Education and local school boards to verify eligibility based on public school attendance requirements

Mandates annual reporting to the Legislative Research Commission by November 1, including number of taxpayers claiming the credit, total amounts claimed, and credits claimed by county

Amends KRS 141.0205 to establish the credit's position in the ordering of nonrefundable personal tax credits against Kentucky income tax