KY HB488 | 2019 | Regular Session

Status

Spectrum: Moderate Partisan Bill (Republican 16-4)
Status: Introduced on February 20 2019 - 25% progression
Action: 2019-02-21 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Create a new section of KRS Chapter 198A to establish the nonrefundable Kentucky affordable housing credit; allow the credit to be applied to the income and insurance taxes, in an amount related to the amount of federal low-income housing tax credit; limit the total amount of all credits awarded during any year to the greater of 50 percent of the federal low-income housing tax credits awarded on qualified projects or $5,250,000; create a new section of KRS Chapter 141 to allow the credit income to be applied to taxes; amend KRS 141.0205 to order the income tax credit; create new sections of KRS Chapter 136 to allow the credit to be applied to insurance tax; order the insurance tax credits; amend KRS 131.190 to conform.

Tracking Information

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Title

AN ACT relating to tax credits.

Sponsors


History

DateChamberAction
2019-02-21Houseto Appropriations & Revenue (H)
2019-02-20Houseintroduced in House

Subjects


Kentucky State Sources


Bill Comments

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