14RS HB137
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HB137

14RS

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HB 137/AA (BR 836) - B. Yonts, K. Imes

     AN ACT relating to the Kentucky Retirement Systems unfunded liability trust fund and making an appropriation therefor.
     Create a new section of KRS Chapter 139 to provide that if federal legislation is enacted that requires out-of-state sellers to collect and remit sales and use tax on behalf of states, tax receipts and interest and penalties thereon resulting from the enactment of the federal legislation shall be deposited in the Kentucky Retirement Systems unfunded liability trust fund.

HB 137 - AMENDMENTS


     HCS/AA - Create a new section of KRS Chapter 139 to require that, if federal legislation is enacted that requires out-of-state sellers to collect and remit sales and use tax on behalf of states, a portion of the tax receipts and interest and penalties thereon resulting from the enactment of the federal legislation be transferred from the general fund to the state-administered retirement systems unfunded liability trust fund; amend KRS 139.570 to increase vendor compensation for timely collecting and remitting sales and use tax, if federal legislation is enacted that requires out-of-state sellers to collect and remit sales and use tax on behalf of states; create a new section of KRS Chapter 61 to establish the state-administered retirement systems trust fund.
     HCA (1/Title, B. Yonts) - Make title amendment.

     Jan 7-introduced in House
     Jan 8-to State Government (H)
     Jan 28-posted in committee
     Feb 6-reported favorably, 1st reading, to Consent Calendar with Committee Substitute, committee amendment (1-title)
     Feb 7-2nd reading, to Rules; recommitted to Appropriations & Revenue (H)


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