HB 521/FN (BR 1896) - J. Wayne, J. Adams, R. Damron, C. Hoffman, J. Jenkins, M. Marzian, S. Riggs
AN ACT relating to historic structures.
Create a new section of KRS Chapter 141 to create definitions for a tax credit program for the rehabilitation of historic residential and commercial structures; Amend KRS 141.0205 to include the rehabilitation credit; Create a new section of KRS Chapter 136.500-136.575 to provide a nonrefundable tax credit in the amount of 20% for certified expenses for historic commercial structures and 30% for certified expenses for historic residential structures; Create a new section of KRS Chapter 171 to define various terms relative to the Kentucky Historic Structure Tax Credit Program, and allow the Council establish criteria for the program; Designate that Sections 1, 2, and 3 apply to taxable years after December 31, 2000; Create short title; Make Sections 1, 2, AND 3 EFFECTIVE JANUARY 1, 2001.
Feb 1-introduced in House
Feb 2-to Appropriations and Revenue (H)