KY HB421 | 2019 | Regular Session

Status

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on February 19 2019 - 25% progression
Action: 2019-02-20 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Amend KRS 143A.010 to amend the definition of "processing" to include the act of loading or unloading limestone that has not otherwise been severed or treated in the Commonwealth; amend KRS 143A.035 to allow a credit for substantially identical severance or processing taxes paid to another state or political subdivision thereof; provide that no taxpayer may claim a total amount of credit that exceeds his or her tax liability; allow the Department of Revenue to report tax credit information to the Legislative Research Commission; amend KRS 131.190 to authorize the release of information from the Department of Revenue; EFFECTIVE August 1, 2019.

Tracking Information

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Title

AN ACT relating to the natural resources severance and processing tax.

Sponsors


History

DateChamberAction
2019-02-20Houseto Appropriations & Revenue (H)
2019-02-19Houseintroduced in House

Subjects


Kentucky State Sources


Bill Comments

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