HB 663/FN (BR 2297) - S. Brinkman, M. Denham, D. Floyd, T. Riner, A. Simpson
AN ACT relating to tax credits for rehabilitation of historic structures.
Amend KRS 171.397 to allow preapproval of credit for projects and to require that a final application for actual credit be filed after the project is completed; allow any cap amounts not awarded during a year and the difference between preliminarily approved and finally approved projects to be added to the cap for the following year; impose a maximum per-project credit of $400,000 for projects that are not residential; require any penalties for disqualifying work to be assessed to the property owner.
HB 663 - AMENDMENTS
HCS/FN - Retain original provisions; amend the date by which applications for the credit must be made from January 31 to April 30 and adjust notification date accordingly; clarify language regarding the award of a final credit amount.
HFA (1, S. Brinkman) - Provide that the penalty shall be assessed against the property owner who performs the disqualifying work and not against any transferee of the credits.
Feb 23-introduced in House
Feb 24-to Appropriations and Revenue (H)
Mar 1-posted in committee
Mar 7-reported favorably, 1st reading, to Calendar with Committee Substitute ; floor amendment (1) filed to Committee Substitute
Mar 8-2nd reading, to Rules
Mar 9-posted for passage in the Regular Orders of the Day for Friday, March 10, 2006
Mar 13-3rd reading, passed 99-0 with Committee Substitute, floor amendment (1)
Mar 14-received in Senate
Mar 16-to Economic Development, Tourism & Labor (S)
Mar 21-reported favorably, 1st reading, to Consent Calendar
Mar 22-2nd reading, to Rules
Apr 10-posted for passage in the Regular Orders of the Day for Monday, April 10, 2006; 3rd reading, passed 37-0; received in House; enrolled, signed by each presiding officer; delivered to Governor
Apr 21-signed by Governor (Acts ch. 196)