Kentucky Senate Bill 313

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on February 27 2024 - 25% progression, died in committee
Action: 2024-02-29 - to Appropriations & Revenue (S)
Pending: Senate Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]

Create a new section of KRS Chapter 141 to establish the sustainable aviation fuel tax credit for taxable years beginning on or after January 1, 2025, but before January 1, 2035; compute credit based on $2.50 per gallon of sustainable aviation fuel consumed by taxpayers; create a new section of KRS Chapter 141 to establish the nonrefundable feedstock production tax credit for taxable years beginning on or after January 1, 2025, but before January 1, 2035; compute credit based on the amount of usable feedstock produced in this state; amend KRS 141.0205 for the ordering of the tax credits; amend KRS 131.190 to allow reporting by the Department of Revenue on the credits; amend KRS 154.27-010 and 154.27-020 to allow incentives for sustainable aviation fuel facilities with a minimum investment of $100 million; create an appropriation of $25 million for economic development projects for the production of sustainable aviation fuel with a minimum investment of $100,000,000; APPROPRIATION; EMERGENCY.

AN ACT relating to tax credits for sustainable aviation fuel, making an appropriation therefor, and declaring an emergency.

Sen. Shelley Frommeyer [R]

Sen. Gex Williams [R]

Date	Chamber	Action
2024-02-29	Senate	to Appropriations & Revenue (S)
2024-02-27	Senate	to Committee on Committees (S)
2024-02-27	Senate	introduced in Senate

Type	Source
Summary	https://apps.legislature.ky.gov/record/24RS/sb313.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/24RS/sb313/orig_bill.pdf