03RS HB2


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HB 2/FN (BR 1781) - J. Richards

     AN ACT relating to the taxation of knowledge-based businesses.
     Amend KRS 141.010 to exclude qualified gains from income tax; create new sections of KRS Chapter 154 to define "knowledge-based business," "qualified gain," and other terms; provide for criteria for approval as a qualified business; provide for the definition of a qualified gain from the sale of qualified stock by qualified owners.


     HFA (1, J. Richards) - Provide that to qualify as a knowledge-based business, a business must not have made a profit for 5 years prior to certification and must be determined by the Office of New Economy to contribute substantially to the knowledge-based economic sector; allow office to consider extent of employees, assets, and technical personnel in Kentucky in making the determination.

     Feb 18-introduced in House
     Feb 19-to Appropriations and Revenue (H)
     Feb 24-posting waived
     Feb 25-reported favorably, 1st reading, to Calendar
     Feb 26-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, February 27, 2003; floor amendment (1) filed
     Feb 27-3rd reading, passed 95-0 with floor amendment (1)
     Feb 28-received in Senate
     Mar 3-to Appropriations and Revenue (S)

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