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KY HB515
Bill
Status
Introduced
1/29/2026
Primary Sponsor
Jason Petrie
Click for details
AI Summary
- Amends KRS 141.068 to remove "of Revenue" from references to the department, a technical cleanup to statutory language regarding tax credit administration
- Maintains existing tax credit structure allowing individual and corporate investors to claim credits certified by the Kentucky Economic Development Finance Authority against income taxes and limited liability entity taxes
- Preserves pass-through entity provisions where tax credits are apportioned among partners, members, or shareholders based on their distributive shares of income
- Retains trust provisions allocating tax credits between trusts and beneficiaries based on income allocable to each for the tax year
- Continues requiring joint reporting by the department and Cabinet for Economic Development to the Interim Joint Committee on Appropriations and Revenue on investment fund agreements, including details on investors, credits awarded, small businesses assisted, and jobs created
Legislative Description
AN ACT relating to revenue.
Technical Corrections
Last Action
returned to Appropriations & Revenue (H)
3/13/2026
Committee Referrals
Appropriations and Revenue2/5/2026
Committee On Committees1/29/2026
Full Bill Text
No bill text available