HB 567/FN (BR 1655) - G. Stumbo, B. Heleringer, L. Clark, J. Haydon, G. Tapp, J. Wayne
AN ACT relating to income tax.
Amend KRS 141.010 to provide that income deducted under Section 170 of the Internal Revenue Code representing contributions to a school tuition organization should be included in adjusted gross income; create a new section of KRS Chapter 141 to create an income tax credit for voluntary cash contributions to a school tuition organization and define terms; create a new section of KRS Chapter 141 to create an income tax credit for fees paid to a public school to support extra curricular activities and define terms; amend KRS 141.0205 to establish the order in which credits are to be taken; provide that this Act applies to taxable years beginning after December 31, 2001.
Feb 1-introduced in House
Feb 4-to Appropriations and Revenue (H)