Kentucky House Bill 627 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on February 28 2022 - 25% progression, died in committee
Action: 2022-02-28 - to Committee on Committees (H)
Pending: House Committee On Committees Committee
Text: Latest bill text (Introduced) [PDF]

Create new sections of Subchapter 20 of KRS Chapter 154 to establish a stillage management tax credit for taxable years beginning on or after January 1, 2023, but before January 1, 2027; establish the Stillage Management Board consisting of 13 voting and two nonvoting members; provide that the board is responsible for approval of the applications from stillage managers and reporting this to the Department of Revenue for processing of the return and tax credit; create a new section of KRS Chapter 141 to establish the stillage management tax credit and reporting requirements for the Department of Revenue; amend KRS 141.0205 to provide the ordering of tax credits; amend KRS 131.190 to require reporting by the Department of Revenue; amend KRS 141.4242 to sunset the ethanol tax credit; provide that the last taxable year for the credit is prior to January 1, 2023; amend KRS 141.4244 to sunset the cellulosic tax credit; provide that the last taxable year for the credit is prior to January 1, 2023; amend KRS 141.389 to allow a refundable portion of the distilled spirits tax credit for distillers installing system to transform stillage material into a value-added product for taxable years beginning on or after January 1, 2023.

AN ACT relating to a tax credit for stillage management.

Rep. Michael Pollock [R]

Date	Chamber	Action
2022-02-28	House	to Committee on Committees (H)
2022-02-28	House	introduced in House

Type	Source
Summary	https://apps.legislature.ky.gov/record/22RS/hb627.html
Text	https://apps.legislature.ky.gov/recorddocuments/bill/22RS/hb627/orig_bill.pdf