KY HB492 | 2020 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 25 2020 - 25% progression, died in committee
Action: 2020-02-27 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on February 25 2020 - 25% progression, died in committee
Action: 2020-02-27 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Introduced) [PDF]
Summary
For taxable years beginning on or after January 1, 2021, but before January 1, 2025, create a new section in KRS Chapter 141 to establish the community investment credit for financial institutions making loans to a community development financial institution; establish the annual credit cap at $20 million; require the Department of Revenue to report tax credit data to the Interim Joint Committee on Appropriations and Revenue; amend KRS 141.0205 to order the credit; amend KRS 131.190 to allow the Legislative Research Commission to receive confidential data about the new tax credit from the Department of Revenue.
Title
AN ACT relating to the community investment tax credit.
Sponsors
Rep. Mark Hart [R] |
History
Date | Chamber | Action |
---|---|---|
2020-02-27 | House | to Appropriations & Revenue (H) |
2020-02-25 | House | introduced in House |
Subjects
Kentucky State Sources
Type | Source |
---|---|
Summary | https://apps.legislature.ky.gov/record/20RS/hb492.html |
Text | https://apps.legislature.ky.gov/recorddocuments/bill/20RS/hb492/orig_bill.pdf |