KY HB6 | 2018 | Regular Session
Status
Spectrum: Slight Partisan Bill (Republican 12-4)
Status: Engrossed on March 16 2018 - 50% progression, died in chamber
Action: 2018-04-13 - floor amendments (9-title) and (10) filed, (11) filed to Committee Substitute
Text: Latest bill text (Draft #2) [PDF]
Status: Engrossed on March 16 2018 - 50% progression, died in chamber
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.
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
| Date | Chamber | Action |
|---|---|---|
| 2018-04-13 | Senate | floor amendments (9-title) and (10) filed, (11) filed to Committee Substitute |
| 2018-04-02 | Senate | floor amendmenst (7) and (8) filed to Committee Substitute |
| 2018-03-29 | Senate | floor amendments (1), (2), (3), (4) and (6) filed to Committee Substitute, floor amendment (5) filed |
| 2018-03-27 | Senate | reported favorably, 2nd reading, to Rules with Committee Substitute & committee amendment (1-title) |
| 2018-03-22 | Senate | returned to Appropriations & Revenue (S) |
| 2018-03-22 | Senate | 1st reading |
| 2018-03-22 | Senate | taken from Appropriations & Revenue (S) |
| 2018-03-19 | Senate | to Appropriations & Revenue (S) |
| 2018-03-16 | Senate | received in Senate |
| 2018-03-15 | House | passed 76-9 with floor amendment (2) |
| 2018-03-15 | House | floor amendment (1) reconsidered |
| 2018-03-15 | House | floor amendment (1) adopted |
| 2018-03-15 | House | 3rd reading |
| 2018-03-14 | House | posted for passage in the Regular Orders of the Day for Thursday, March 15, 2018 |
| 2018-03-14 | House | 2nd reading, to Rules |
| 2018-03-13 | House | floor amendments (1) and (2) filed |
| 2018-03-13 | House | reported favorably, 1st reading, to Calendar |
| 2018-03-08 | House | posted in committee |
| 2018-01-19 | House | to Appropriations & Revenue (H) |
| 2018-01-17 | House | introduced in House |
