Kentucky House Bill 222

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Spectrum: Slight Partisan Bill (Republican 14-5)
Status: Introduced on January 10 2024 - 25% progression, died in committee
Action: 2024-01-10 - to Committee on Committees (H)
Pending: House Committee On Committees Committee
Text: Latest bill text (Introduced) [PDF]

Create a new section in KRS Chapter 141 to define terms; establish a tax deduction for contributions made to an eligible savings account by a first-time home buyer and allow an exclusion from income for any interest earned from an eligible savings account of a first-time home buyer effective for taxable years beginning on or after January 1, 2025, but before January 1, 2035; require the Department of Revenue to report to the Legislative Research Commission and the Interim Joint Committee on Appropriations and Revenue; amend KRS 141.019 and 131.190 to conform.

AN ACT relating to tax incentives for first-time home buyers.

Rep. Killian Timoney [R]	Rep. Kimberly Banta [R]	Rep. Tina Bojanowski [D]	Rep. Kevin Bratcher [R]
Rep. Steve Bratcher [R]	Rep. Steven Doan [R]	Rep. Chris Freeland [R]	Rep. Alan Gentry [D]
Rep. Daniel Grossberg [D]	Rep. Samara Heavrin [R]	Rep. William Lawrence [R]	Rep. Scott Lewis [R]
Rep. Michael Meredith [R]	Rep. Kimberly Moser [R]	Rep. Jason Nemes [R]	Rep. Ruth Palumbo [D]
Rep. Rachel Roarx [D]	Rep. Walker Thomas [R]	Rep. Susan Tyler Witten [R]

Date	Chamber	Action
2024-01-10	House	to Committee on Committees (H)
2024-01-10	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/24RS/hb222.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/24RS/hb222/orig_bill.pdf