KY HB446 | 2012 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 23 2012 - 25% progression, died in committee
Action: 2012-02-27 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]
Status: Introduced on February 23 2012 - 25% progression, died in committee
Action: 2012-02-27 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [MS Word]
Summary
Amend KRS 132.020 to lower the state property tax rate from 5 cents per $100 of value to 1/10 of one cent per $100 value on goods held for sale in the regular course of business including machinery and equipment held in a retailer's inventory for sale or lease originating under a floor plan financing arrangement, raw materials, and in-process materials held for incorporation in finished goods held for sale in the regular course of business; amend KRS 132.200 to exempt same property from local taxation; EFFECTIVE for property assessed on or after January 1, 2012.
Title
AN ACT relating to property tax.
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2012-02-27 | to Appropriations & Revenue (H) | |
| 2012-02-23 | introduced in House |
Kentucky State Sources
| Type | Source |
|---|---|
| Summary | http://www.lrc.ky.gov/record/12RS/HB446.htm |
| Text | http://www.lrc.ky.gov/record/12RS/HB446/bill.doc |
