Kentucky House Bill 540 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 27 2018 - 25% progression, died in committee
Action: 2018-03-01 - to Appropriations & Revenue (H)
Pending: House Appropriations and Revenue Committee
Text: Latest bill text (Draft #1) [PDF]

Establish a new subchapter under KRS Chapter 154 and create new sections thereof to allow the earn and learn tax credit in an amount up to 25% of the costs incurred by an approved company for tuition or other educational expenses paid on behalf of a qualified employee, not to exceed $1,500 and up to 50% of those costs incurred for a qualified employee in recovery, not to exceed $2,000; create a new section of KRS Chapter 141 to allow the tax credit against the income taxes and the limited liability entity tax for taxable years beginning on or after January 1, 2019, but before January 1, 2023; amend various sections to require reporting of data to the Interim Joint Committee on Appropriations and Revenue.

AN ACT relating to a new tax credit.

Rep. Phillip Pratt [R]

Date	Chamber	Action
2018-03-01	House	to Appropriations & Revenue (H)
2018-02-27	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/18RS/HB540.htm
Text	http://www.lrc.ky.gov/recorddocuments/bill/18RS/HB540/bill.pdf
Supplement	http://www.lrc.ky.gov/recorddocuments/note/18RS/HB540/FN.pdf