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Bill > SB23
KY SB23
AN ACT proposing to create a new section of the Constitution of Kentucky relating to property exempt from taxation.
summary
Introduced
01/02/2024
01/02/2024
In Committee
03/07/2024
03/07/2024
Crossed Over
02/13/2024
02/13/2024
Passed
Dead
04/15/2024
04/15/2024
Introduced Session
Potential new amendment
2024 Regular Session
Bill Summary
Propose to amend Section 170 of the Constitution of Kentucky to include in the homestead exemption for owners who are 65 years of age or older any increase in the valuation of the real property that is assessed after the later of the year the owner turned 65 or the year the owner purchased the property; apply the exemption to increases in valuation that occur after the date the amendment is ratified by the voters; provide ballot language; submit to voters for ratification or rejection.
AI Summary
This bill proposes to amend the Constitution of Kentucky to provide an additional ad valorem tax exemption for real property maintained as the permanent residence of an owner who is 65 years of age or older. The exemption would apply to any increase in the valuation of the property that is assessed after the later of the year the owner turned 65 or the year the owner purchased the property. The proposed amendment would be submitted to the voters of the Commonwealth for ratification or rejection. If ratified, the exemption would only apply to increases in real property values that occur after the date of ratification.
Committee Categories
Government Affairs
Sponsors (6)
Mike Nemes (R)*,
Matt Deneen (R),
Don Douglas (R),
Rick Girdler (R),
Stephen Meredith (R),
Lindsey Tichenor (R),
Last Action
to Elections, Const. Amendments & Intergovernmental Affairs (H) (on 03/07/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://apps.legislature.ky.gov/record/24RS/sb23.html |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/24RS/sb23/bill.pdf |
| Vote History for SB23 | https://apps.legislature.ky.gov/record/24RS/sb23/vote_history.pdf |
| Local Mandate Fiscal Impact | https://apps.legislature.ky.gov/recorddocuments/note/24RS/sb23/LM.pdf |
| Senate Floor Amendment 2 | https://apps.legislature.ky.gov/recorddocuments/bill/24RS/SB23/SFA2.pdf |
| Senate Floor Amendment 1 | https://apps.legislature.ky.gov/recorddocuments/bill/24RS/SB23/SFA1.pdf |
| BillText | https://apps.legislature.ky.gov/recorddocuments/bill/24RS/sb23/orig_bill.pdf |
| Local Mandate Fiscal Impact | https://apps.legislature.ky.gov/recorddocuments/note/24RS/sb23/LM.pdf |
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