Kentucky House Bill 387 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 9 2015 - 25% progression, died in committee
Action: 2015-02-10 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]

Amend KRS 141.438 relating to the Endow Kentucky tax credit to define terms; allow additional time for a taxpayer to provide the proposed endowment gift to the applicable community foundation; allow additional time for the taxpayer to report proof of the endowment gift to the Department of Revenue; require that proof of the endowment gift must be executed by an officer of the community foundation who shall identify the county, counties, or other geographic area that the endowment gift is intended to impact; direct the department to transmit a copy of the notice of preliminary tax credit authorization to the relevant community foundation, in addition to the taxpayer; direct the department to annually report to the Endow Kentucky Commission certain information relating to the credits awarded during the prior fiscal year; make technical corrections; state that the Act applies to the award of tax credits in fiscal years beginning on or after July 1, 2016; EFFECTIVE October 1, 2015.

AN ACT relating to the Endow Kentucky tax credit.

Rep. James Kay [D]

Date	Chamber	Action
2015-02-10	House	to Appropriations & Revenue (H)
2015-02-09	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/15RS/HB387.htm
Text	http://www.lrc.ky.gov/record/15RS/HB387/bill.doc