KY HB314 | 2024 | Regular Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 19 2024 - 25% progression
Action: 2024-01-19 - to Committee on Committees (H)
Pending: House Committee On Committees Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Create a new section of KRS Chapter 141 to establish the community restoration tax credit for taxable years beginning on or after January 1, 2025, but before January 1, 2029, for financial institutions making loans to a community development financial institution; establish the annual credit cap at $20 million; require the Department of Revenue to report tax credit data to the Legislative Research Commission and the Interim Joint Committee on Appropriations and Revenue; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Legislative Research Commission to receive confidential data about the community restoration tax credit from the Department of Revenue.

Tracking Information

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Title

AN ACT relating to the community restoration incentive program.

Sponsors


History

DateChamberAction
2024-01-19Houseto Committee on Committees (H)
2024-01-19Houseintroduced in House

Subjects


Kentucky State Sources


Bill Comments

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