Kentucky House Bill 24 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 3 2012 - 25% progression, died in committee
Action: 2012-01-03 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]

Amend KRS 132.020 to reflect the most recent tax rate for real property, provide that all tangible personal property owned by a veterans' organization exempt from income taxation under 501(c)(19) of the Internal Revenue Code shall be taxed at $0.001 upon each $100 of value, and make other technical changes for ease of reading; amend KRS 132.200 to exempt from local taxation all tangible personal property owned by a veterans' organization that has qualified for exemption for income taxation under 501(c)(19) of the Internal Revenue Code and the property is directly used in the organization's exempt activities; amend KRS 139.495 to exempt from sales and use tax sales of tangible personal property, digital property, or services to a veterans' organization that has qualified for exemption under 501(c)(19) of the Internal Revenue Code if the tangible personal property, digital property, or service is used in the organization's exempt activities, and exempts from sales and use tax sales of tangible personal property by the organization; EFFECTIVE August 1, 2012, and January 1, 2013.

AN ACT relating to taxation.

Rep. Melvin Henley [D]

Date	Chamber	Action
2012-01-03		to Appropriations & Revenue (H)
2012-01-03		introduced in House
2012-07-06		To: Interim Joint Committee on Appropriations and Revenue

Type	Source
Summary	http://www.lrc.ky.gov/record/12RS/HB24.htm
Text	http://www.lrc.ky.gov/record/12RS/HB24/bill.doc