Bill > HB372

This bill: Creates a new section of KRS Chapter 139 to provide a sales and use tax exemption for data centers that make at least $150 million in capital investments and create at least 20 new jobs within the first 5 years. Data centers must report annually on their progress and will lose the exemption if they fail to meet the requirements. The Department of Revenue must report biennially to the Interim Joint Committee on Appropriations and Revenue on the aggregate capital investment, new jobs, and other data related to the data center exemption. Establishes a new remote worker tax credit against the KRS 141.020 individual income tax. The credit is available for up to 5 years and varies based on the population density of the county where the remote worker resides, with additional credit available for first-time home buyers. The Department of Revenue must report annually on the remote worker tax credits claimed. Amends KRS 131.190 to allow the Department of Revenue to share data center exemption and remote worker tax credit information with the Legislative Research Commission. Amends KRS 141.0205 to establish the ordering of the remote worker tax credit relative to other nonrefundable personal tax credits. The data center sales tax exemption takes effect on July 1, 2021.

Budget and Finance

https://apps.legislature.ky.gov/record/21RS/hb372.html