12RS HB24
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HB24

12RS

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HB 24/LM (BR 8) - M. Henley

     AN ACT relating to taxation.
     Amend KRS 132.020 to reflect the most recent tax rate for real property, provide that all tangible personal property owned by a veterans' organization exempt from income taxation under 501(c)(19) of the Internal Revenue Code shall be taxed at $0.001 upon each $100 of value, and make other technical changes for ease of reading; amend KRS 132.200 to exempt from local taxation all tangible personal property owned by a veterans' organization that has qualified for exemption for income taxation under 501(c)(19) of the Internal Revenue Code and the property is directly used in the organization's exempt activities; amend KRS 139.495 to exempt from sales and use tax sales of tangible personal property, digital property, or services to a veterans' organization that has qualified for exemption under 501(c)(19) of the Internal Revenue Code if the tangible personal property, digital property, or service is used in the organization's exempt activities, and exempts from sales and use tax sales of tangible personal property by the organization; EFFECTIVE August 1, 2012, and January 1, 2013.

     (Prefiled by the sponsor(s).)

     Jul 6-To: Interim Joint Committee on Appropriations and Revenue
     Jan 3-introduced in House; to Appropriations & Revenue (H)


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