Kentucky House Bill 542 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 29 2016 - 25% progression, died in chamber
Action: 2016-03-01 - to Appropriations & Revenue (H)
Text: Latest bill text (Draft #1) [PDF]

Create a new section of KRS Chapter 198A to establish the Kentucky affordable housing credit, which applies to the income and insurance taxes, in an amount related to the amount of federal low-income housing tax credit; limit the total amount of all credits awarded during any year to the greater of 50 percent of the federal low-income housing tax credits awarded on qualified projects or $5,250,000; create a new section of KRS Chapter 141 to allow the income tax credit; amend KRS 141.0205 to order the income tax credit; create a new section of KRS Chapter 136 to order the insurance tax credits.

AN ACT relating to tax credits.

Rep. James Kay [D]

Date	Chamber	Action
2016-03-01	House	to Appropriations & Revenue (H)
2016-02-29	House	introduced in House

Type	Source
Summary	http://www.lrc.ky.gov/record/16RS/HB542.htm
Text	http://www.lrc.ky.gov/record/16RS/HB542/bill.pdf
Supplement	http://www.lrc.ky.gov/record/16RS/HB542/FN.pdf