KY HB387 | 2015 | Regular Session

Status

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]

Summary

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.

Tracking Information

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Title

AN ACT relating to the Endow Kentucky tax credit.

Sponsors


History

DateChamberAction
2015-02-10Houseto Appropriations & Revenue (H)
2015-02-09Houseintroduced in House

Kentucky State Sources


Bill Comments

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