KY HB6 | 2018 | Regular Session

Status

Spectrum: Slight Partisan Bill (Republican 12-4)
Status: Engrossed on March 16 2018 - 50% progression
Action: 2018-04-13 - floor amendments (9-title) and (10) filed, (11) filed to Committee Substitute
Text: Latest bill text (Draft #2) [PDF]

Summary

Create new sections of KRS Chapter 136 to establish a new tax credit against the taxes imposed on insurance companies and financial institutions, for contributions made by them into rural growth funds which make investments in certain businesses principally operating in certain areas of the state; declare findings and the purpose of the credit; define terms; require an entity to follow a process to apply for certification as a rural growth fund, and for investors in that entity to receive tax credits awarded by the Department of Revenue; allow the department to issue $60,000,000 in tax credits; provide credit sunset terms and other conditions for participating in the program and for claiming the credit; provide for revocation of tax credits; allow the department to audit rural growth funds; limit any liability of the Commonwealth in regard to rural growth funds or investments made by them; require various reports to be filed with the department and the Legislative Research Commission to enable evaluations of the credit program; provide for the ordering of the credit; declare short title to be the Kentucky Rural Jobs Tax Credit Act of 2018.

Tracking Information

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Title

AN ACT relating to the establishment of a tax credit to promote investments in rural Kentucky businesses and making an appropriation therefor.

Sponsors


Roll Calls

2018-03-15 - House - House: Third Reading RCS# 316 (Y: 76 N: 9 NV: 0 Abs: 15) [PASS]

History

DateChamberAction
2018-04-13Senatefloor amendments (9-title) and (10) filed, (11) filed to Committee Substitute
2018-04-02Senatefloor amendmenst (7) and (8) filed to Committee Substitute
2018-03-29Senatefloor amendments (1), (2), (3), (4) and (6) filed to Committee Substitute, floor amendment (5) filed
2018-03-27Senatereported favorably, 2nd reading, to Rules with Committee Substitute & committee amendment (1-title)
2018-03-22Senatereturned to Appropriations & Revenue (S)
2018-03-22Senate1st reading
2018-03-22Senatetaken from Appropriations & Revenue (S)
2018-03-19Senateto Appropriations & Revenue (S)
2018-03-16Senatereceived in Senate
2018-03-15Housepassed 76-9 with floor amendment (2)
2018-03-15Housefloor amendment (1) reconsidered
2018-03-15Housefloor amendment (1) adopted
2018-03-15House3rd reading
2018-03-14Houseposted for passage in the Regular Orders of the Day for Thursday, March 15, 2018
2018-03-14House2nd reading, to Rules
2018-03-13Housefloor amendments (1) and (2) filed
2018-03-13Housereported favorably, 1st reading, to Calendar
2018-03-08Houseposted in committee
2018-01-19Houseto Appropriations & Revenue (H)
2018-01-17Houseintroduced in House

Kentucky State Sources

TypeSource
Summaryhttp://www.lrc.ky.gov/record/18RS/HB6.htm
Texthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/bill.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/HFA1.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/HFA2.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SCS1.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SCA1.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA1.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA2.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA3.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA4.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA5.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA6.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA7.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA8.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA9.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA10.pdf
Amendmenthttp://www.lrc.ky.gov/recorddocuments/bill/18RS/HB6/SFA11.pdf
Supplementhttp://www.lrc.ky.gov/recorddocuments/note/18RS/HB6/FN.pdf
Roll Callhttp://www.lrc.ky.gov/record/18RS/HB6/vote_history.pdf

Bill Comments

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