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HB 141/FN (BR 299) - T. McKee, M. Denham, J. Bell, R. Bunch, Dw. Butler, L. Clark, J. Donohue, M. Dossett, C. Embry Jr., J. Glenn, D. Graham, R. Heath, K. King, M. King, C. Miller, T. Mills, S. Overly, R. Quarles, T. Riner, B. Rowland, J. Shell, R. Smart, W. Stone, G. Stumbo, T. Thompson, T. Turner, G. Watkins, S. Westrom, B. Yonts
AN ACT relating to tax credits for farmers.
Create a new section of KRS Chapter 141 to define "donor," "edible agricultural products," "nonprofit food program," and "qualified taxpayer"; allow a qualified taxpayer/donor to receive a tax credit for donating edible agricultural products to nonprofit food programs; set the tax credit amount at ten percent; establish requirements for pass-through entities; describe the forms that shall be used to record donation information; describe standards for estimating the value of donated edible agricultural products; allow a tax credit to be carried forward to subsequent years; amend KRS 141.0205 to specify the ordering of the credit; clarify the farm operation tax credit; make technical corrections.
HB 141 - AMENDMENTS
HCS/FN - Create a new section of KRS Chapter 141 to define "donor," "edible agricultural products," "nonprofit food program," and "qualified taxpayer"; allow a qualified taxpayer/donor to receive a tax credit for donating edible agricultural products to nonprofit food programs; set the tax credit amount at 10 percent; establish requirements for pass-through entities; describe the forms required to be used to record donation information; describe standards for estimating the value of donated edible agricultural products; allow a tax credit to be carried forward to subsequent years; require the sunset of the tax credit after 4 years; amend KRS 141.0205 to specify the ordering of the credit; clarify the farm operation tax credit; make technical corrections.
Jan 11-introduced in House
Feb 5-to Appropriations & Revenue (H)
Feb 15-posted in committee
Feb 19-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 20-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, February 21, 2013
Feb 21-3rd reading, passed 97-0 with Committee Substitute
Feb 22-received in Senate
Feb 26-to Appropriations & Revenue (S)
Vote History
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