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SB44/FN (BR482) - R. Alvarado, J. Adams, J. Bowen, J. Schickel, M. Wise
AN ACT relating to opportunities in education.
Create a new section of KRS Chapter 141 to provide a nonrefundable income tax credit for contributions made to an entity exempt from taxation which supports public education; create a new section of KRS Chapter 141 to establish a separate income tax credit for tuition assistance based on contributions made to a qualified scholarship-granting organization; create a new section of KRS Chapter 141 to provide goals and reporting of metrics related to those goals; amend KRS 141.0205 to establish the order in which the credits may be taken; create a new section of KRS 136.500 to 136.575 to allow financial institutions to take both tax credits against the tax imposed by KRS 136.505; create a new section of KRS 136.500 to 136.575 to order all bank franchise tax credits.
Jan 06, 2016 - introduced in Senate
Jan 07, 2016 - to Appropriations & Revenue (S)