HB 2 (BR 32) - R. Rand
AN ACT relating to fiscal matters and declaring an emergency.
Provide revenue measures for the Executive Branch Budget, including: amend KRS 45.777 to credit proceeds from sale of surplus property to the general fund; amend KRS 138.4602 to make technical corrections and extend the period within which the trade-in allowance applies to June 30, 2011; amend KRS 141.010 to modify the calculation of the domestic production activities deduction for income tax purposes; amend KRS 141.206 and create a new section of KRS Chapter 141 to require every pass-through entity to make a declaration and payment of estimated tax for its partners, members, or shareholders in certain situations; amend KRS 141.388 to extend the time for purchases of new homes to December 31, 2010, modify the new home tax credit cap, and make technical corrections related to changes made for federal income tax purposes; amend KRS 148.546 to cap the film tax credit at $5 million for fiscal year 2010-2011 and $7.5 million for fiscal year 2011-2012; amend KRS 154.34-120 to require companies receiving preliminary approval on or after February 1, 2010, to limit the amount of tax credit taken to the lesser of the tax liability related to the reinvestment project or 20% of the total amount of the approved costs; create a new section of KRS Chapter 246 to allow the Department of Agriculture to promulgate administrative regulations establishing fees for the operation of the metrology lab; amend KRS 278.5499 to allow not more than two cents per access line per month be designated to fund the Telecommunications Access Program; provide, in noncodified sections to continue the new tire fee collection until June 30, 2012, to fund the waste tire program authorized by KRS Chapter 224; allow a one-half of one percent fee be paid to the Kentucky Infrastructure Authority for the administration of certain projects; allow certain abandoned property to be sold as determined by the secretary of the Finance and Administration Cabinet; credit premium taxes and retaliatory taxes to the general fund; allow an exemption to the license fee or tax imposed under KRS 91A.080 for premiums paid to insurance companies by nonprofit self-insurance groups whose membership consists of cities, counties, charter county governments, urban-county governments, consolidated local governments, school districts, or any other political subdivisions of the Commonwealth until June 30, 2012; allow a company approved for the environmental stewardship act tax credit to determine the credit during state fiscal year 2011-2012 only by including a multiplier of 50%; allow an expedited protest resolution process for any tax assessment that, as of January 19, 2010, has been protested, not been the subject of a final ruling, and not the subject of certain enforced collections to be considered paid in full if the taxpayer pays the entire amount of tax on or after the effective date of this Act and before July 31, 2010; EMERGENCY.
HB 2 - AMENDMENTS
SCA (1, B. Leeper) - Retain the original provisions of the bill; amend KRS 154.60-010, 154.60-020, and 141.384 to change the taxable years for which the credit applies to taxable years beginning after December 31, 2010.
SCA (2, B. Leeper) - Retain the original provisions of the bill; create a new section of KRS Chapter 141 to establish the Endow Kentucky tax credit; amend KRS 141.0205 to order the tax credit.
SCA (3, B. Leeper) - Retain the original provisions of the bill; create three new sections of KRS Chapter 141 to establish the new markets development program tax credit; amend KRS 141.0205 to order the tax credit.
SCA (4, E. Harris) - Retain the original provisions of the bill; create a new section of KRS Chapter 141 to establish the distilled spirits tax credit; amend KRS 141.0205 to order the credit.
SCA (5, B. Leeper) - Retain the original provisions of the bill, except delete the language of Section 16 of the Act in its entirety; amend KRS 141.430 to modify the base year calculation for taxable years ending on or after the effective date of this Act by multiplying the existing calculation by 50 percent.
SCA (6, B. Leeper) - Retain original provisions; create a new section of KRS 164.740 to 164.7891 to establish a pharmacy scholarship program for students who agree to practice pharmacy in a coal-producing county for each year a scholarship is provided, and to provide funding from the coal severance tax to support the scholarship program.
SFA (1, D. Williams) - Create a new section of KRS 164.740 to 164.7891 to establish a pharmacy scholarship program for students from coal-producing counties and to provide for funding from coal severance tax receipts; repeal KRS 164.7901.
May 24-introduced in House; to Appropriations & Revenue (H); taken from Appropriations & Revenue (H); 1st reading; returned to Appropriations & Revenue (H); posting waived
May 25-reported favorably, 2nd reading, to Rules; placed in the Orders of the Day for Wednesday, May 26, 2010
May 26-3rd reading, passed 95-0; received in Senate; taken from Committee on Committees (S); 1st reading; to Appropriations & Revenue (S)
May 27-reported favorably, 2nd reading, to Rules with committee amendments (1) (2) (3) (4) and (5) ; floor amendment (1) filed
May 28-recommitted to Appropriations & Revenue (S); reported favorably, to Rules with committee amendment (6) ; posted for passage in the Regular Orders of the Day for Friday, May 28, 2010; 3rd reading; floor amendment (1) withdrawn ; passed 37-0 with committee amendments (1) (2) (3) (4) (5) and (6) ; received in House; to Rules (H); posted for passage for concurrence in Senate committee amendments (1) (2) (3) (4) (5) and (6) ; House concurred in Senate committee amendments (1) (2) (3) (5) and (6) ; House refused to concur in Senate committee amendment (4) ; Bill passed 93-0; received in Senate; to Rules (S); posted for passage for receding from Senate committee amendment (4) ; Senate receded from committee amendment (4) ; Bill passed 35-0; received in House
May 29-enrolled, signed by Speaker of the House; received in Senate; enrolled, signed by President of the Senate; delivered to Governor
Jun 4-signed by Governor (Acts Chapter 2)