HB 352 (BR 1362) - R. Damron, J. Bruce, P. Clark, D. Pasley, T. Thompson
AN ACT relating to the corporate license tax and declaring an emergency.
Amend KRS 136.071 to allow bank holding companies that hold stock or securities in financial institutions subject to the tax imposed under KRS 136.500 to 136.575 equal to 50% or more of its total assets to determine its "capital" for purposes of the corporate license tax by deducting the value of its investment in the stock and securities in such financial institutions; provide that the provisions of the act are retroactively effective for tax periods beginning on or after January 1, 2003; declare an emergency.
Jan 22-introduced in House
Jan 23-to Appropriations and Revenue (H)