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SB 227 (BR 1966) - B. Smith

     AN ACT relating to philanthropy.
     Create new sections of KRS Chapter 147A to declare the title of the Act as the Endow Kentucky program; declare legislative purposes; define terms; establish the community endowment fund in the State Treasury; allow the Governor's Office for Local Development to establish grant programs related to the promotion of community foundations from out of the fund; provide for the certification of community foundations needed in order to receive grants from the fund; establish the Endow Kentucky Commission; create a new section of KRS Chapter 141 to establish the Endow Kentucky tax credit; amend KRS 141.0205 to provide for the ordering of tax credits.


     SFA (1, B. Leeper) - Remove the tax credit allowed to a contributor to a charitable foundation.

     SFA (2, B. Smith) - Require initial appointments to be made by a certain date; reduce annual cap on the Endow Kentucky tax credit from $5 million to $1 million; provide that credit applies to tax years beginning on or after January 1, 2011.

     Mar 4-introduced in Senate
     Mar 8-to Appropriations & Revenue (S)
     Mar 11-taken from committee; 1st reading; returned to Appropriations & Revenue (S)
     Mar 16-floor amendment (1) filed ; reported favorably, 2nd reading, to Rules
     Mar 17-posted for passage in the Regular Orders of the Day for Thursday, March 18, 2010; floor amendment (2) filed
     Mar 18-3rd reading; floor amendment (2) withdrawn ; passed 37-0 with floor amendment (1)
     Mar 19-received in House
     Mar 22-to Local Government (H)
     Mar 23-posting waived
     Mar 24-reported favorably, 1st reading, to Calendar
     Mar 25-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, March 26, 2010
     Mar 26-3rd reading, passed 94-0; received in Senate; enrolled, signed by each presiding officer; delivered to Governor
     Apr 7-signed by Governor (Acts ch. 71)

Vote History
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