SB 95/FN (BR 1440) - D. Seum
AN ACT relating to members of the reserve components of the Armed Forces and declaring an emergency.
Create a new section of KRS Chapter 141 to define pension plans, profit-sharing plans, retirement plans, employee savings plans, and annuity contracts; provide a nonrefundable credit equal to 50% of the amount paid into a pension plan, profit-sharing plan, retirement plan, employee savings plan, or annuity contract by an employer on behalf of an employee or by a resident self-employed individual if the employee or self-employed individual is a member of the reserve component of the Armed Forces who is called to duty directly due to the events of September 11, 2001, or who is involuntarily called to active service for more than 30 days; provide that the nonrefundable credit shall only apply for that period that the employee or self-employed individual is on active duty service and that amounts that qualify for the nonrefundable credit shall not be permitted as a deduction in determining net income or taxable net income; amend KRS 141.205 to conform; provide that the nonrefundable credit shall apply retroactively to taxable years beginning after December 31, 2000, and shall sunset for taxable years beginning after December 31, 2002; EMERGENCY.
Jan 11-introduced in Senate
Jan 16-to Veterans, Military Affairs & Public Protection (S)
Jan 24-reported favorably, 1st reading, to Calendar
Jan 25-2nd reading, to Rules
Jan 29-posted for passage in the Regular Orders of the Day for Thursday, January 31, 2002
Jan 31-passed over and retained in the Orders of the Day
Feb 1-recommitted to Appropriations and Revenue (S)