14RS HB551
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HB551

14RS

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HB 551 (BR 857) - T. Thompson

     AN ACT relating to local option sales and use taxes.
     Create new sections of KRS Chapter 65 to establish the parameters and requirements for the levy of local option sales and use taxes, if a proposed constitutional amendment allowing such a levy is approved; create a new section of KRS Chapter 139 to establish tax administration provisions; provide that the provisions of the Act will be effective on January 1 2015, only if the proposed constitutional amendment is approved by the voters of the Commonwealth at the November 2014 general election; if the proposed amendment is not approved, the Act is void.

HB 551 - AMENDMENTS


     HCS - Retain original provisions, except define "residual project" and amend provisions to describe the purpose of residual projects; include vendor compensation for the collection of local option sales and use taxes; clarify provisions relating to the maximum rate that may be imposed in circumstances where there is not local agreement to levy a joint tax; delete satisfaction of outstanding debt as a permissible use of funds in consolidated local governments; provide for gender balance on the community investment commission in a consolidated local government; amend KRS 139.570 to allow for vendor compensation.
     HFA (1, D. Watkins) - Provide an earned income tax credit to the individual income tax.
     HFA (2/Title, D. Watkins) - Make title amendment.

     Mar 4-introduced in House
     Mar 5-to Local Government (H)
     Mar 6-posted in committee
     Mar 20-reported favorably, 1st reading, to Calendar with Committee Substitute
     Mar 21-2nd reading, to Rules; taken from Rules; placed in the Orders of the Day; floor amendment (1) filed to Committee Substitute, floor amendment (2-title) filed


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