KY HB141 | 2014 | Regular Session

Status

Spectrum: Moderate Partisan Bill (Republican 5-1)
Status: Introduced on January 7 2014 - 25% progression, died in committee
Action: 2014-01-08 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]

Summary

Create a new section of KRS Chapter 141 to provide a nonrefundable tax credit against the tax imposed by KRS 141.020 or 141.040 and KRS 141.0401 for contributions made to the Commonwealth school improvement fund; create a new section of KRS Chapter 141 to establish a tuition assistance tax credit against the tax imposed by KRS 141.020 or 141.040 and KRS 141.0401 for contributions made to qualified tuition assistance organizations; amend KRS 141.010 to exclude any amount received as tuition assistance from the definition of "adjusted gross income"; amend KRS 141.0205 to establish the order in which the credits may be taken; create a new section of KRS 136.500 to 136.575 to allow financial institutions to take the Commonwealth school improvement tax credit and the tuition assistance tax credit against the tax imposed by KRS 136.505; make effective for tax periods beginning on or after December 31, 2014.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

AN ACT relating to tax credits to promote quality education in Kentucky.

Sponsors


History

DateChamberAction
2014-01-08Houseto Appropriations & Revenue (H)
2014-01-07Houseintroduced in House

Kentucky State Sources


Bill Comments

feedback