HB 394/FN (BR 1519) - T. Thompson, R. Damron, S. Brinkman, R. Crimm, F. Nesler, D. Osborne, B. Yonts
AN ACT relating to the new home tax credit for income tax purposes and declaring an emergency.
Amend KRS 141.388 to lower the new home tax credit cap to $15 million and allow certain purchases qualifying for the federal first-time home buyer tax credit to also receive the Kentucky new home tax credit; apply the amended new home tax credit cap to all purchases of qualified principal residences within the approved time; apply the expansion of the new home tax credit to purchases of qualified principal residences after November 6, 2009; EMERGENCY.
HB 394 - AMENDMENTS
HCS/FN - Retain original provisions; clarify that a qualified buyer who purchases a qualified principal residence on or after November 6, 2009, but before the effective date of this Act shall have 7 days from the effective date of this Act to submit via fax a completed application.
Feb 5-introduced in House
Feb 8-to Appropriations & Revenue (H)
Feb 26-posted in committee
Mar 2-reported favorably, 1st reading, to Consent Calendar with Committee Substitute
Mar 3-2nd reading, to Rules; posted for passage in the Consent Orders of the Day for Monday, March 8, 2010
Mar 8-3rd reading, passed 95-0 with Committee Substitute
Mar 9-received in Senate
Mar 10-to Appropriations & Revenue (S)