KY HB835

Doubles the annual cap on Kentucky New Markets Development Program tax credits from $10 million to $20 million per fiscal year

Amends KRS 141.433 and 141.434, which govern qualified equity investments in low-income community businesses through qualified community development entities

Clarifies that periodic principal repayments on loans that are qualified low-income community investments shall be considered continuously held if reinvested in another qualified low-income community investment by the end of the following calendar year

Tax credit remains at 39% of the purchase price of qualified equity investments, with unused credits eligible for carry-forward to subsequent tax years

Maintains existing requirements including 100% investment in qualified active low-income community businesses within 12 months of issuance, and performance fee of 0.5% (capped at $500,000)